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June Katz 4 min read

Storing RVN: Best Ravencoin Wallets

Storing RVN: Best Ravencoin Wallets

Ravencoin — or RVN — is an experimental coin that premiered in early 2018 with an agenda to make the transfer of assets from one party to another more efficient than any of the existing cryptocurrencies allow. The end goal of the new project is to create a blockchain that's focused on transferring assets from one holder to another in the form of tokens. Despite the interest in RVN, there aren't that many third-party wallets willing to work with Ravencoin. With the project lacking an ICO (Initial Coin Offering), integrating the coin into a wallet's code is not that easy. Nevertheless, as the project continues to prove itself, there are several secure storage options available for users looking to store their RVN, so let’s look at some of the best crypto wallets for Ravencoin holders.


Top 5 Ravencoin wallets 

  1. Official RVN wallet for desktop
  2. Official RVN wallet for mobile 
  3. Trust Wallet
  4. Trezor
  5. Pocket Raven


1. Official Ravencoin Wallet for Desktop

The best choice for storing RVN is the official desktop application released by the project's developers. It has been ranked as the top RVN wallet as of 2020 with new features introduced monthly and round-the-clock customer support from the developers. Desktop cryptocurrency wallets are usually considered quite secure and the official app seems like the best choice for the coin it was made for.


Pros:

  • Available for Windows, Mac OS, and Linux;
  • A backup seed allows to reinstall the wallet on different devices;
  • Broad support from the community;
  • Constantly updated by the developers.


Cons:

  • Downloads the whole blockchain and takes a while to synchronize;
  • Might be prone to malware and viruses;
  • Some additional actions are required to secure the wallet and protect it with the password;
  • Only one way to recover the wallet if it's compromised.


2. Official Ravencoin Wallet for Mobile

The team has also launched an official mobile wallet: a great choice for users who need their RVN available at the drop of a hat. The app was produced by Medici Ventures — a branch of Overstock.com, a long-time investor in blockchain and cryptocurrency startups.


Pros:

  • Available for iOS and Android devices;
  • Modern design and round-the-clock support;
  • PIN-protected from theft;
  • Fully encrypted and as secure as a mobile wallet can be.


Cons:

  • Mobile crypto wallets are notoriously easier to hack. Given other choices, users should consider only keeping a small number of tokens in a mobile wallet.


3. Trust Wallet

This wallet is one of the most secure mobile wallets for cryptocurrency available to date. It provides end-to-end encryption with users having full control over their private data and keys.


Pros:

  • A credible app backed by Binance;
  • High-security transactions;
  • Complete control over your keys and private data.


Cons:

  • Mobile-only (available for Android and iOS phones).


4. Trezor Hardware Wallet

Physical wallets are a tried and true way to store crypto, considered one of the most secure kinds of cryptocurrency wallets out there. The company’s latest firmware update introduced Ravencoin support, albeit only on the more expensive Trezor Model T.


Pros:

  • Advanced security features help protect assets from theft and malware;
  • Tamper-proof USB connection;
  • User-friendly RGB LCD screen;
  • Firmware's inbuilt adaptability to future growth.


Cons:

  • The current price may be considered disproportionate to the actual value of the product;
  • Selective support for coins across different models (pay special attention to this if you decide to invest in a crypto wallet by Trezor!).


5. Pocket Raven Web Wallet

Pocket Raven Web Wallet is an online service made specifically for storing Ravencoin. Being made with RVN in mind, it is synchronized to the blockchain and can also be used as a multi-signature solution. The wallet is coded in javascript and is fully open to all users.


Pros:

  • Quick and easy worldwide access;
  • Minimal effort required to create and verify transactions;
  • Excellent for beginners.


Cons:

  • The least secure option for storing large amounts of RVN.


Ravencoin was created with a single goal to allow users to tokenize assets. A singular focus is not a bad thing: many startups that attempted to multi-task from day one often ended up with a sub-par product. Once it gains traction, Ravencoin has all the potential to become a key player in the market, especially with its fully decentralized model and unique agenda. We at SwapSpace are glad to help this happen, providing Ravencoin exchange options from our numerous partners, so that our customers can easily get into RVN.


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