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Top 6 Monero Wallets in 2022

Top 6 Monero Wallets in 2022

June Katz 4 min read
After a couple of years ago when Bitcoin was one of the only currencies to provide privacy, Monero came to the stage. It’s a robust coin that allows users to enjoy full anonymity and have their privacy respected. It was created back in 2012 and thereby came multiple Monero Wallets.  What Is a Monero Wallet? A Monero wallet is a form of software that allows you to safely store, send, and receive your XMR. It’s one of the most decentralized and privacy-oriented projects out there, and thus there are lots of specified Monero wallets that focus on decentralization and user-privacy. We’ll show you the top 6 best XMR wallets that are currently available.  Top 6 Monero Wallets  Ledger Nano S Monero GUI Wallet Monerujo  MyMonero Edge Wallet Exodus 1. Ledger Nano S Monero Wallet A small flash drive with a built-in OLED screen is all it takes to safely store your XMR. Ledger Nano S is a hardware Monero wallet that’s one of the safest and most secure ways to store your XMR in the industry. It does not only support Monero, it supports more than 70 cryptocurrencies including Stellar , Ripple, Bitcoin, and Ethereum . You gain access to your tokens by plugging the device into your desktop and entering your 2-factor authentication. With every transaction you make, you have to enter your four-digit PIN code to confirm any currency to go in or out of your wallet. A hardware XMR wallet is mostly recommended when you’re holding XMR for a longer period.  2. Monero GUI Wallet When you’re not interested in other tokens and you just want to focus on Monero, Monero GUI wallet might be a good option for you. It’s an official Monero desktop wallet available for Windows, Mac, and Linux. When downloading the wallet you run a full node which means you’re hosting the entire blockchain on your network. It takes some time to process syncing and downloading each time you start the client, but the interface makes it easily accessible. Thus, if you’re looking for ways to support the Monero network and have a safe way to hold your XMR, the Monero GUI wallet might be a good option. 3. Monerujo XMR Android Wallet Two of the key factors of the Monero project are privacy and decentralization. Monerujo is an open-source XMR Android wallet that gives you full control of your private data since it only stores on your device. It’s a simple wallet that allows you to create multiple wallets, send and receive XMR payments with the ease of scanning a QR code. Take note that this is an Android Monero wallet, it’s not available for desktop access or for iOS operating systems. However, it’s a perfect solution when you want to make payments with your XMR and transfer frequently.  4. MyMonero XMR Online Wallet One of the founders of the Monero project Fluffy Pony created the MyMonero wallet . It’s an XMR online wallet that’s available through many different operating systems. You can use the MyMonero wallet on Mac, Windows, Linux, iOS, or the web-wallet, the Android XMR wallet is coming soon. The user interface for the wallet is very appealing, making it easy to understand for anyone who’s getting used to the cryptocurrency industry. It’s a perfect solution for mobile usage or online access since it requires a minimal battery, bandwidth, and storage usage. So, anyone who wants a light-weight Monero wallet, MyMonero is your friend! 5. Edge XMR Wallet When you’re looking for an XMR wallet that’s simple and easy to use, you should go for the Edge Wallet . It stores more than 30 cryptocurrencies, including Monero. All you have to do is download their iOS or Android wallet, and you’re running your mobile XMR wallet. Within the application, you can access your XMR, send and receive your Monero. You can also directly buy other tokens and exchange your XMR for other cryptocurrencies within seconds. It might not be the safest option in comparison to offline wallets such as paper wallets and hardware wallets, but it’s very convenient and easy to use! 6. Exodus XMR Wallet Another XMR wallet that’s reaching for the stars is the Exodus wallet . It’s a multi-currency software wallet that is way more than a Monero wallet. You can hold your XMR, store your XMR, and receive XMR, but besides that, you have a built-in portfolio tracker and a cryptocurrency exchange. You can download the application for Mac, Windows, and Linux. The beauty is that the wallet integrates with another popular hardware Monero wallet, Trezor. In that way, you can enjoy the security of a hardware Monero wallet, while you’re making use of a simple interface of the Exodus wallet.  Conclusion As you see, there are many options for storing Monero. So, if that's your preferred currency — set up your wallet and start trading !
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Top 7 Multicurrency Wallets in 2022

Top 7 Multicurrency Wallets in 2022

June Katz 6 min read
What is a multicurrency wallet and why do you need it? A multicurrency wallet is a program responsible for storing one’s public and private keys and carrying out operations with numerous owned crypto assets. It allows you to send, receive, and check the available balance of your cryptocurrencies. Why are they important? They are totally necessary if we want to have any cryptocurrency since it is used to store and carry out transactions; for example, to swap your crypto at SwapSpace, you're probably going to need a wallet. Making a simple comparison one could say that it is similar to a bank account. Usually, in our day-to-day, we carry out a series of actions when we use traditional money (fiat): collect payroll at the bank, make bank transfers, shop in stores, etc. When we talk about crypto, all the previous steps can be done with your cryptocurrency digital wallet. When you are new to this world of cryptocurrencies, owning the best multi-coin wallet that fits your needs and stores multiple currencies on top of that becomes essential. However, the fear of the unknown can stop you from choosing one out of so many options. It is natural to fall into this dilemma. That’s why it is important to familiarize yourself with their use and here are some of the best multicurrency wallets to choose from. Top 7 multicurrency wallets Atomic Wallet Trust Wallet Exodus Trezor Ledger Coinomi Jaxx 1. Atomic Wallet This multicurrency desktop wallet is very secure, and it has integration with other platforms to carry out cryptocurrency exchanges with more than 300 cryptocurrencies and tokens under the same interface. It has its own eponymous token called AWC, which allows you to get discounts on exchanges. Another advantage of this wallet is that it offers cashback to its members for swapping cryptocurrency. Also, it has a staking program that allows its users to earn passive income with their crypto. Atomic Wallet is the only multi-coin wallet on the list that has an affiliate program, which will pay us for bringing in new users.  2. Trust Wallet This multicurrency wallet is one of Binance’s products, which is usually a plus in the crypto world, as far as the reputation goes. Cryptocurrency staking on Trustwallet became available relatively early on, which has earned this wallet some bonus points in our book. It has other interesting features, such as an easy way to buy crypto with a credit card, a dApp browser, and an NFT wallet. With this Bitcoin and altcoins wallet, you can not only store private keys on your own but live the complete experience as well: use dApps, decentralized exchanges , all without neglecting security.  3. Exodus  Exodus wallet is one of the most popular products for storing crypto, and for good reason: it’s well-known for its ease of use even for somebody without advanced internet skills. Starting to use it is very simple since once the multi-coin wallet is downloaded you will practically only have to add a secret key. It is important to make a backup copy of the seed key. Exodus has support for over 200 cryptocurrencies and it also has compatibility with Trezor, allowing you to use a multi-currency desktop wallet with the security of a cold wallet. Exodus also features apps with functions like trading and earning interest by staking crypto. One disadvantage is that it is not built on open-source software.  4. Trezor  Trezor is one of the most secure multi-currency wallets, that has a good price-performance ratio, and is widely used and tested over time. It also has its disadvantage: some cryptocurrencies, like XRP (Ripple), are supported only by the high-end version, Trezor Model T. Therefore, if you’re thinking about buying a more affordable Trezor One, you should check whether you’ll be able to store your favorite coin in this crypto wallet. Still, in general, there’s a very wide range of cryptos compatible with Trezor. The first physical wallets were developed by the Trezor company, and therefore it has an excellent reputation. During the first time of usage, it displays a 24-keyword seed generated by an RNG without an internet connection. Thus, this device creates an ideal isolated environment to execute the signing of transactions. It significantly reduces the chance of your private key being discovered, even if the connected device is compromised. 5. Ledger Nano X/S Another company that offers a variety of options in terms of the most secure multi-currency physical wallets is Ledger . They are compact smart cards very similar to a USB flash drive, which connect via USB to the computer to manage assets. At the heart of their designs, an operating system called BOLOS is integrated into a security chip. It is very powerful and flexible, allowing Ledger to safely run multiple open-source applications in complete isolation. For its part, like Trezor, you can configure any PIN or password, but if 3 failed attempts are made, all the information is immediately erased. The generated seed contains 24 keywords that are stored in an internal chip resistant to computer attacks.  6. Coinomi Coinomi is a SegWit-enabled wallet and allows the management, exchange, and storage of more than 1,770 cryptocurrencies and crypto-assets. All supported assets can be swapped instantly through built-in exchange services. Coinomi is a "hierarchically deterministic” wallet. This means that this multi-currency crypto wallet uses a special type of algorithm to create the seed of the account. This is very important because the seed is a series of random words that serve as a kind of "master password", giving an extra layer of security to the account. It is highly recommended that you record this seed and store it in another safe place, not connected to the internet. Coinomi offers wide range of features, among them the ones you’re already familiar with, like staking support, a dApp browser, an easy way to buy cryptocurrency with a credit card, and many more. 7. Jaxx This is a multi-platform and multi-coin wallet that supports the purchase, sale, and storage of more than 80 cryptocurrencies. The ShapeShift application is integrated into the wallet so that the purchase and exchange can be done instantly. Jaxx's competitive advantage over others is cross-platform pairing. This functionality is designed to work and synchronize on all platforms, such as desktop, mobile devices, and even in the web browser.
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Top 7 Litecoin Wallets 2021

Top 7 Litecoin Wallets 2021

June Katz 5 min read
What is a Litecoin wallet? Litecoin is one of the oldest cryptocurrencies in the blockchain industry. It’s an open-source altcoin that has been prominent in terms of market capitalization for the past years. It survived many bear markets, went through bull runs, and showed its strength over the years. As soon as you start getting into Litecoin, you need to choose a wallet, whether you want to trade your coins — for example, through the crypto exchanges listed here on SwapSpace , — or to hodl them. A Litecoin wallet allows you to store, send, and receive LTC. We’ll guide you through finding the best Litecoin wallets for your needs. Some Litecoin wallets focus more on security, others on multiple functionalities, and others want an open and easy-to-use operating system. One important factor to bear in mind is access to your private keys . If anyone else has access to your private keys, they can access your funds and walk away with your precious Litecoin! Top 7 Litecoin wallets  Ledger Nano S Litecoin Core Litewallet Freewallet  Coinomi LiteAddress Guarda Wallet  1. Ledger Nano S One of the safest ways to store your cryptocurrency, and in this case your LTC, is by using the Ledger Nano S . It’s an LTC hardware wallet in the size of a USB-drive that you plug into your computer for access. The moment it’s attached, it connects to the Internet, otherwise, it remains offline and no one can gain access to your LTC. The best part is that it can store other cryptocurrencies as well: Bitcoin , Ethereum , Ripple, and over 50 other digital assets. The company behind the device is an established entity that prides itself on its robust security.  2. Litecoin Core While other Litecoin wallets are not specifically made for Litecoin storage, the Litecoin Core wallet is made for Litecoin only. It’s a free Litecoin wallet that works on Windows, Mac, and Linux devices. The moment you install the Litecoin Core wallet, it automatically syncs with the entire Litecoin blockchain and functions as a full node. It’s a more complex Litecoin wallet, but it’s a very safe wallet that allows you to contribute to the Litecoin blockchain at the same time. It only allows Litecoin, so if you want a wallet that supports multiple currencies, you should look for other options.  Also keep in mind that since it’s a full node, Litecoin Core has serious free space requirements (up to 80 GB, as of the spring of 2022, although you can also sync a pruned version of the database which can take up less). 3. Litewallet This is another wallet made to hold LTC only. It’s a mobile app, supported on iOS and Android. Litewallet is made by the Litecoin Foundation itself, which makes it one of the most trusted wallets for LTC. It’s lightweight and easy to operate while having low fees . Litewallet also has a good user support and a robust community in general. 4. Freewallet Freewallet is a good option for anyone that’s interested in a simple and easy-to-use Litecoin wallet. Within seconds you can create your own wallet and receive, send, and store your LTC. It’s a multi-currency online wallet that supports not just Litecoin, but also Bitcoin, Ethereum, and more than 30 other cryptocurrencies. Transactions between Freewallet users are completely free, and you can even purchase cryptocurrencies using your credit card. It’s an online wallet, so its security is slightly less effective than in an offline hardware wallet but Freewallet uses multi-signature transaction confirmation and two-factor authentication in place.  5. Coinomi As one of the earliest inventors of wallets outside of exchanges, Coinomi is a strong player in the industry. It offers native support to over 125 blockchains, and thereby more than 1770 tokens . It’s safe to say that it’s not just for LTC, but the wallet itself is very robust and a very complete product. It has all the privacy and security features you could wish for and the best of all, it’s available to anyone in the world. The wallet is translated into 25 languages and even offers representation in over 175 fiat currencies. When you don’t want to deal with hosting an entire blockchain, and still enjoy security, privacy, and a ton of other features, Coinomi is a good option. 6. LiteAddress When you want to take things up a notch in terms of security, you could choose a paper wallet. When you pick a web-wallet or an iOS wallet or Android wallet for your Litecoin, you have access to your funds all the time. It’s fast and easy and allows you to transfer your funds all the time. However, if you’re a true-holder you want to put your funds away for a long time. That moment, you can pick an LTC paper wallet. You literally print your money on a piece of paper and store it in a place where you find it safe. On the LiteAdress’ website , you can create your own Litecoin paper wallet in a matter of seconds.  7. Guarda Wallet The moment you’re looking for a wallet that offers more than just LTC storage, you could try the Guarda Wallet . It’s one of these companies that wants to offer support for each proper currency out there in the most user-friendly way. They offer a Litecoin wallet app, an iOS Litecoin wallet, an Android Litecoin wallet, and even a Chrome extension to provide even a more efficient way to store, send, and receive LTC. The wallet offers support for thousands of coins ranging from Bitcoin and Ethereum to Monero and Zcash . It’s said to be one of the best wallets out there in the current market when you want to handle multiple currencies.
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Storing Gemini Dollar: Best GUSD Wallets

Storing Gemini Dollar: Best GUSD Wallets

June Katz 4 min read
GUSD, or Gemini Dollar , is an ERC-20 crypto developed by the Gemini Trust Company — a New York-based trust overseen by the Department of Financial Services. GUSD is a USD-pegged stablecoin : a single Gemini Dollar is equivalent to the USD at a 1:1 ratio and offers little to no fluctuation in price. Gemini holds the funds that back their crypto in a State Street bank and have had their product insured by the Federal Deposit Insurance Corporation ( FDIC). We at SwapSpace list GUSD — that is, you can swap or get your Gemini dollars here . However, to do that, you need a wallet to store your GUSD. The Gemini Dollar can be stored on any wallet that supports ERC-20 tokens . Below are the best four options of GUSD wallets. Top 4 GUSD wallets  Ledger – Best hardware wallet for storing GUSD Trust Wallet – Best mobile app for Gemini Dollar MyEtherWallet – Best wallet for ERC20 tokens like GUSD MyCrypto – Best designed wallet for ERC20 tokens like Gemini Dollar Ledger: Best hardware wallet for GUSD Ledger Nano S Plus and Nano X have been among the best-selling hardware wallets for crypto coins for several years in a row. With more than one and a half million units sold since the company launched, Ledger had proven to be one of the most trusted cryptocurrency wallets with a strong focus on privacy and reliability. Pros: The two latest Ledger wallets — the Nano S Plus and the newer Nano X — support a massive range of cryptocurrencies; Incredibly compact and lightweight devices (around the size of a standard USB stick); Easy to connect to a mobile phone; Simple setup and great usability. Cons: Screen navigation can be difficult on the two-button Nano S Plus; No touchscreen on either of the two devices. Trust Wallet: Best mobile wallet for GUSD Trust Wallet is a mobile application made for storing ETH -20 and ERC-223 coins. This simple open-source wallet is relatively easy to get up and running. The software is compatible with Android (5.0 or later) and iOS devices (10.0 and up) and offers users a wide range of security features, including locally-stored private keys , anonymity, and extensive backup. Pros: Trust gives users full control over their private keys; Features a decentralized exchange ; Simple, safe, and secure. Cons: Single-factor authentication; Not every currency is supported (although the number of networks has grown in the last years). MyEtherWallet: Best web Gemini Dollar wallets MyEtherWallet is a web-based application for storing ERC-20 tokens specifically. Widely known as "MEW", MyEtherWallet is a relatively safe app that allows users to store and swap tokens while keeping their private keys on hand. Pros: Offers better security than many other web Gemini Dollar wallets; Grants users total control over their private keys; Supports connecting a hardware wallet; The company recently launched an iOS MEW app. Cons: Web wallets are much more vulnerable to being hacked than hardware or software wallets; Only supports ERC-20 — Bitcoin and several other major altcoins are not supported; New users can find the app tricky to set up. MyCrypto: Best wallet for storing ERC20 tokens like GUSD  MyCrypto wallet is a fork of the previously-reviewed MyEtherWallet and has the codebase of MEW. Product-wise, MyCrypto has a more optimized design and better features when compared to its predecessor. Pros: Easily audited and adjustable open-source application; Built-in currency exchange. Cons: Allows single-factor authentication only; Supports strictly ETH-20 tokens. The GUSD coin still has plenty of room to grow and the team can make significant improvements to the current functionality of both the platform and their exchange. What makes GUSD crypto stand out, however, is its spotless security record, which may be just what the token needs to continue accumulating interest from the community .
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Storing IOTX: 5 Best IoTeX Wallets

Storing IOTX: 5 Best IoTeX Wallets

June Katz 4 min read
IoTeX is an innovative privacy-conscious blockchain with a vision to power the Internet of Things (IoT). IoT is a name for the system that encompasses all existing smart devices that can connect to the internet. The concept behind IoTeX – creating the Internet of Trusted Things – builds on the idea of the IoT. The IOTX platform combines a blockchain with confidential computing and decentralized identifiers to create an entirely unique network where humans , devices, and businesses can safely interact. The project utilizes two versions of IoTeX tokens : Native IOTX and the ERC20-IOTX. Both are valued at the same price but are used for different things. ERC20-IOTX is used for staking and voting on ETH . Native IOTX is a newer coin used mainly for transactions and contracts on the IoTeX Mainnet. You can get IOTX at SwapSpace . Top 5 IoTeX wallets  IoTeX online wallet  IoTeX desktop wallet  Trust Wallet Metamask Cobo Wallet  1. IoTeX Web Wallet This is an in-built wallet on the IoTeX website . It allows users to store their crypto and perform a variety of actions on both the IoTeX Mainnet and their Testnet. The current features allow users to send and receive tokens, deploy smart contracts , and vote for IoTeX delegates. Pros: Public and private keys can be used to re-enter or unlock a compromised wallet; The web application is tailored to all browsers; Supports IOTX Native tokens, EIOTX, and any other tokens launched on the IoTeX network. Cons: Online wallets are notorious for being the least secure way of storing crypto; There is always a risk of downloading malware; Not the best for storing a larger amount of tokens. 2. IoTeX Official Wallet Apps The IoTeX desktop and mobile wallets available on the IoTeX website are software packs created by the IoTeX team that users can download directly to their computer or phone. It's commonly said that in general, desktop wallets are generally safer than mobile and online wallets: user's private keys are securely stored on their computer and safe from viruses and malware threats. But there's always an option to go mobile if you'd like. Pros: Secure, free to use, and regularly-updated; Optimized for Windows, Mac, and Linux. Mobile apps are available for Android and iPhone. Cons: Supports IOTX Native tokens only; Not as convenient as an online wallet for on-the-go trading; Needs to be backed up regularly. 3. Trust Wallet for IoTeX Trust Wallet is a multi-currency mobile wallet that supports IOTX. The app allows users to store, send, and receive IoTeX on the go, making it far more practical than a desktop wallet. As of April 2019, Trust has launched the IoTeX Staking and Voting app with full integration with the IoTeX voting website. Pros: Supports both the Native IOTX and the ERC20-IOTX; Works on IOS and Android devices; Allows users to pay physical retailers that accept crypto as payment. Cons: All assets can be lost if your device is stolen or compromised. 4. Metamask Wallet Metamask is one of the more popular crypto wallets . It has wide functionality, including providing a way for its users to easily connect to dApps. Pros: Exists in a mobile version as well as a browser extension: a simple way to access one’s coins; As of mid-2022, it allows staking of IoTeX coins. Cons: As a browser extension, it allows the browser to collect general information on its usage; Access permissions have to be revoked manually sometimes after connecting to dApps, which can be a security risk if you're not mindful. 5. Cobo Wallet Cobo Wallet is IoTeX's delegate and a strategic partner. It’s an institutional storage solution. It also provides a unique investment program centered around IoTeX with annualized return rates of up to 20%. Pros: Supernode DDoS prevention and HSM key management; A variety of flexible storage plans; Users can grow their IoTeX while keeping it safely stored. Cons: It’s a tailor-made solution that might be too much if you’re an ordinary crypto user. Conclusion  With heavy investments being poured into IoTeX and several PhDs working to make the project a reality, the IoTeX vision may very well change the IoT as we know it. That is: if it succeeds.
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Storing DAI: 5 Best DAI Wallets

Storing DAI: 5 Best DAI Wallets

June Katz 4 min read
DAI is a stablecoin that operates on the Ethereum blockchain with its value pegged to the US Dollar. DAI manages to maintain its worth without a centralized trust, which sets it apart from its centralized and regulated competitors – like Tether (USDT) or Paxos (PAX) . DAI’s decentralized nature and lack of regulating authority mean that no government can influence it or shut it down. DAI is an ERC-20 coin that can be kept in any ERC-20-compliant wallet. We have collected several options for you. Here are the best wallets to store your DAI. List of Top 5 DAI Wallets  MyEtherWallet – best web-based wallet for ERC20 tokens like DAI Atomic Wallet – best beginner-friendly DAI wallet Exodus – best non-custodial multicurrency wallet for DAI Jaxx – best app wallet for storing DAI MetaMask – best browser extension DAI wallet MyEtherWallet  MyEtherWallet is a web-based application that provides access to a multitude of ERC-20 tokens . The open-source software DAI wallet allows its users to retain their private keys , which adds an additional layer of security in comparison to other online DAI wallets. Pros: Free open-source software; Users can exchange DAI coin within the app; Supports all major hardware wallets including Trezor and Ledger. Cons: Only supports Ethereum and other ECR-20 coins; Wallets that need access to the Internet to function are more prone to hacking and phishing attacks. Atomic Wallet Atomic Wallet is a non-custodial software wallet that allows in-application trading and credit card purchases. Atomic Wallet provides an innovative atomic swap function that enables users to trade DAI coin without leaving the wallet or turning to a centralized exchange platform. Pros: Beginner-friendly easy-to-use interface; Supports several hundred cryptos, including DAI coin; Has a built-in atomic swap plugin that allows users to convert cryptocurrency without using a separate crypto exchange; The app allows peer-to-peer wallet trading. Cons: Cannot be integrated with a hardware DAI wallet; The atomic swap function is only available for a limited number of coins; High trading fees. Exodus Exodus is a multi-currency wallet that allows users to organize and monitor their savings using an in-built pie chart portfolio. Users can also exchange DAI directly in Exodus. The software DAI wallet provides a one-click account restore option: if an account is compromised, users can click on a link that is sent to their mail when they create an account to restore access. Pros: Great design and prompt customer support; Positively reviewed by the community . Cons: High transaction fees ; Single-factor authentication. Jaxx Jaxx wallet is a multi-currency wallet developed by Canada’s leading blockchain company Decentral. The app allows users to store over 60 different currencies including DAI crypto at a time and boasts an intuitive well-designed interface that’s is especially handy for first-time users. Jaxx was also one of the first DAI wallets to integrate an exchange into its system. Pros: Compatible with many major cryptocurrencies; An excellent DAI wallet for beginners; Supported across a wide range of platforms and devices. Cons: Jaxx wallet is closed-source; The application has a history of minor instances of data vulnerability. MetaMask MetaMask is a web wallet made specifically to store, transfer, and trade ETH and ERC-20 tokens, and DAI coin is not an exception. The wallet is installed as a browser extension and can be integrated with Chrome, Firefox, and Brave.  Pros: An open-source application with a large contributing developer community; A simple and intuitive user interface; Reliable customer support; Two integrated crypto exchanges. Cons:  Being an online wallet makes MetaMask more vulnerable to malware attacks; Even though the wallet does not gather user information browsers do. Experts predict that DAI coin will attract more interest as its developers increase its functionality and focus on additional liquidity options. As any company would, Maker strives to make DAI as successful as it can be. The company realizes the risks of backing its currency by crypto and is constantly developing new ways to make its stablecoin system perfect. And if you need to change your DAI to other stablecoins or cryptocurrencies — or vice versa — we at SwapSpace got you!
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Storing RVN: Best Ravencoin Wallets

Storing RVN: Best Ravencoin Wallets

June Katz 4 min read
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  Official RVN wallet for desktop Official RVN wallet for mobile  Trust Wallet Trezor 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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Cryptocurrency Wallet Types: Pros And Cons

Cryptocurrency Wallet Types: Pros And Cons

June Katz 7 min read
In order to store crypto and increase the security level of your funds, you can use a cryptocurrency wallet. They have a higher level of protection in comparison with the crypto exchanges. In this article, you will get to know about the advantages and disadvantages of crypto wallets and get acquainted with their varieties and the most popular examples. What Is a Cryptocurrency Wallet? A cryptocurrency wallet is a software program that stores your public and private keys . It consists of a private key and a public key. Hot Wallet vs Cold Wallet A cold wallet is a way to store funds offline. These include any tools that are not tied to the network. Cold storage wallet eliminates the interaction of the wallet and the online network, which significantly reduces the likelihood of theft. Cold wallet advantages: Higher security; with little to no software requirements and no connection to the Internet. Cold wallet disadvantages: Poorly adapted for regular payments; Can be physically lost since it’s stored on a piece of hardware; Requires manual backup. Hot wallets are programs designed to store digital coins with a constant Internet connection, which allows you to send cryptocurrency anywhere. Hot wallet advantages: Great for regular payments and micropayments; Convenient and easy to use; Do not require physical media. Hot wallet disadvantages: Can be hacked more easily; Requires an Internet connection to work; If you uninstall the program, you may lose access to your cryptocurrency wallet forever. Types of Cryptocurrency Wallets There are five types of digital storage that you can use. 1. Online Crypto Wallets This is a service owned by a third party. Depending on the wallet, the keys are stored on a remote server or downloaded as an encrypted file to the user’s computer. They allow not only to open several wallets for different cryptocurrencies but also to carry out currency conversions, trade on cryptocurrency exchanges, calculate commissions with the help of built-in calculators, etc. Advantages of online wallet: Quick registration; Anonymity: in most cases verification or KYC is not necessary; Ability to work with multiple cryptocurrencies. Disadvantages of online wallet: Risks inherent in cryptocurrency exchanges; There is a possibility for an online crypto wallet to be hacked; Additional expenditure. There are no reliable ways to protect funds on such platforms. Therefore, recommendations for the protection of funds are reduced to the diversification of risks, that is, working simultaneously with several crypto wallets. Examples of popular online crypto wallets: HolyTransaction . The multi-currency wallet, founded in 2014, supports dozens of the most popular cryptocurrencies. It has an intuitive interface, commissions are comparable with other wallets. Coinbase . Crypto wallet created in 2012. Supports Bitcoin, Ethereum , and many other altcoins . Cryptonator . The most popular multi-currency wallet in the CIS. 2. Mobile Cryptocurrency Wallet This is a program to install on mobile gadgets. Interesting for those for whom cryptocurrency is a means of everyday payment for goods and services. The current version of the blockchain is usually stored on the application server which provides access to updated data and does not require the user to download large amounts of data. Mobile crypto wallet advantages: May be safer than online crypto wallets; Conveniently use on the go; Offer additional features such as QR code scanning. Disadvantages of mobile crypto wallet: Unfortunately, a mobile crypto wallet is not the most secure option. Therefore, they are hardly suitable for storing large amounts of funds. Examples of popular mobile crypto wallets: Coinomi . One of the best wallets for Android that supports more than 125 cryptocurrencies. It has many advantages such as enhanced security, around-the-clock support, and a great track record. NOW Wallet . NOW Wallet boasts a straightforward interface, yet it offers a number of important features. Users can swap their cryptocurrencies without leaving the app, and fiat-crypto purchases & withdrawals are also available. NOW Wallet supports NFTs . 3. Hardware wallet This is a separate removable device that looks like a flash drive. This method of storing keys is not very popular yet because it is suitable only for long-term storage (it is inconvenient to trade with it). But it does not overload the computer. Hardware wallet advantages: Private keys are never exposed to your computer. A hardware wallet is immune to computer viruses. Your hardware requires you to confirm a transaction on your device (not the app on your computer) before any coins can be spent. Hardware wallet disadvantages: The only downside to a hardware wallet is that it costs money. However, it might be worthwhile to consider investing in a hardware wallet because they are more secure, especially if you hold a significant amount of coins. Examples of popular hardware wallets: KeepKay . Supports 4 major cryptocurrencies. Ledger Wallet . Trezor . 4. Desktop wallet These are the programs that you install on your computer. Advantages of desktop crypto wallet: Desktop wallets store keys on your hard drive, which is considered one of the most reliable options among offline crypto wallets. It is a program installed on your computer with which you can access data about your cryptocurrency account. Disadvantages of desktop crypto wallet: One of the desktop wallet's disadvantages is the need for constant updating, which takes plenty of memory. That’s why desktop programs are divided into “thick” and “thin”. “Thick” (“heavy”) wallets are those that download the whole blockchain on your computer and keep it updated. “Thin” (“light”) wallets download the necessary information from third-party services. Examples of popular mobile wallets: Exodus . Has an integrated exchange platform ShareShift supports 7 cryptocurrencies. Bitcoin Core . One of the best wallets for bitcoin, working with all operating systems. Armory . In addition to Bitcoin Core, which allows you to increase the level of storage security. 5. Paper crypto wallet A unique option for storing keys, it is a printout of a picture with a QR code containing a public address and a private key. Long-term storage option for those who do not trust electronics. Example of a paper wallet: bitaddress.org There are also other considerations when choosing a wallet; for example, the ability to connect the wallet to the exchange of your choice. Many wallets support SimpleConnect; others may be integrated into specific exchanges. Case in point: to make an exchange on SwapSpace , you can connect your Trezor or SimpleHold wallet easily. In any case, each wallet has its advantages and disadvantages. Which option to choose depends on your goals.
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