Best Siacoin Wallets in 2021

Best Siacoin Wallets in 2021

If you are an everyday traveler in the cryptocurrency realm, then you already know how digital coins work. But for those of you who don’t know, unlike the physical currency, you can’t hand it over to someone.

Everything happens digitally. You might be wondering, if the coins are so available, what’s the value in it? Well, this is where keys come in. These keys are the gateways to opening your desired cryptocurrency and Siacoin can be one of them. Siacoin wallets are your lifesaver in case of protecting these keys. 

Top 4 Siacoin Wallets in 2021

Siacoin has come into prominence for quite some time now. Let’s just give you some rudimentary ideas about it. It’s a decentralized open-access platform. Suppose you want to safeguard your valuable assets or keys.

Now you can’t just keep them on the internet. It’s not safe and can easily be misplaced. What Siacoin wallets do is store your assets and encrypt your file across a decentralized network. They also use cutting-edge encryption technology to protect it. 

Wallet integration is crucial. The wallet you are choosing and the Siacoin have to be compatible to make things happen properly. Sadly, there aren’t many options for saving Siacoin keys in the blockchain. That’s why we are naming 4 of the best Siacoin wallets to pique your interest in them. 

1. Sia UI

This is the official app made by Nebulous. Its graphical interface and features are top-notch. Before diving into its fascinating features, let's take a quick look at how you should set it up.

Sia Ui has a bunch of counterfeits on the internet. Always make sure you have the authentic app on your system. Other mobile apps or blockchains are not official. That’s why the safest way to protect your coins is by getting the official Sia UI client. And ensure that you are the only person that has complete access to it. There are tons of incidents of hackers and miscreants stealing keys from the wallets.

So How do we set it up? Well, first you have to download it from the original download page. Make sure you don’t download the Sia Daemon as it’s going to do more harm than good. After downloading it, start installing it on your device. It will take some time to synchronize.

After the synchronization process reaches 100 percent, you will now be able to create a new account. Write down the 29-word wallet seed.

You might be wondering, how on earth does someone memorize this seed? Well, it's wise to write it down and save it somewhere. After completing all the processes, you can now freely access the dashboard. From here you buy, sell, and trade Siacoin without any interruption. After setting up, it's easy to do the tasks. It's available on pretty much all operating systems including Mac, Linux, and Windows. The interface is eye-catching and smooth. Hands down, it's one of the best wallets out there. 

Pros: 

  • Strongly protected with the 29-word wallet seed
  • A small number of fees
  • Huge storage facility 
  • Clean Interface

Cons:

  • Setting it up is quite arduous
  • The terminal is tricky to use

Product Link: Click Here

2.  Ledger Nano S

As we’ve mentioned before, the security keys are everything. Without it, Siacoins are worthless. That’s why saving your data and assets in cloud storage isn’t always a good idea. You need something more powerful.

Here’s where Nano S comes in. 

It’s not your typical wallet. It’s unique as it is a hardware wallet. A hardware wallet is where the assets and data are saved offline rather than letting all the information lurk on the internet. That’s why it's considered much safer. Nano S is the very first Ledger hardware wallet. Since its inception, it has maintained tremendous dexterity and integrity to safeguard the users’ keys.

The security of the Ledger Nano S is otherworldly. Being a hardware wallet is impressive enough as it can prevent all sorts of unauthorized logins. On top of that, they have EAL61/ST31 BOLOS isolation technology protocols. They use encryption technologies on all ends so that there is no room for error.

But the most fascinating part of the whole concept of Nano S is how portable it is. It looks just like a pen drive. The weight of it is 16 grams. Hard to believe right? Well, Ledger has come up with a wallet that seems too good to be true. You can travel around with millions of dollars worth of Siacoins in your pocket and nobody will notice. On top of that, the Nano S is incredibly durable.

The wallet looks aesthetic. The hardware is solid. It comes with a box that will make anyone jealous. The device is also quite easy to set up. At first, you have to configure it as a new device once you connect it to your system. Then give a strong Pincode. After completing it, the wallet will give you 24 distinct words. These words will help you back up your files in case you lost them. That’s it. It wasn’t so hard. Was it?

After seeing so many features, you are probably thinking this wallet must cost a behemoth amount of money. Sorry to say but you are wrong. The Nano S only cost about 59 dollars. So what are you waiting for?

Pros:

  • Has a USB connector
  • Cost-effective
  • Amazingly lightweight
  • State-of-the-art security
  • No anti-tamper seals
  • Supports multiple currencies

Cons:

  • No touch screen user interface

Product Link: Click Here

3.  Sia Android Wallet

You need to constantly monitor your bitcoin wallets. Prices change within a millisecond when it comes to cryptocurrencies. That’s why many investors have branded it as a hit or miss project. But if you keep up with the trends, you are most likely going to be successful. But that is not going to happen any time soon if you stay glued to your laptop or pc. 

Everything is becoming handheld now. Devices are shrinking day by day due to the rise of microtechnologies. If you still monitor your wallets on your laptop, then you are old-fashioned. On top of that, you can’t move around with your typical computer. You need to have a steady setup at all times.

But to be a successful investor, you need to multitask. You have to keep aware of the news, travel around while tracking everything that’s happening in the world. That’s the strategy to thrive in the crypto market. 

This is why you need the Sia android wallet. You get your hands on the advanced features that other wallets don’t provide you. The app runs smoothly and its user interface is to die for. You can trade, exchange while traveling. How wonderful is that!

On top of that, you can run a Sia node on your device. You can integrate with the storage platform for safeguarding your assets. For those of you who don’t know how the nodes work, nodes are junction points that control the process of the blockchains. More nodes mean it's hard to figure out the original point. That’s why creating a distinct Sia node will elevate the security of the coins to the next level.

Pros:

  • Easily accessible from anywhere
  • Sleek user interface
  • With its active UX/UI, you can trade your cryptocurrencies without any worry
  • You can run a Sia node for better protection

Cons:

  • Not authorized by Nebulous
  • There are some obscurities regarding its performance

Product Link: Click Here

Best Siacoin Wallets in 2021

Photo by Executium

4. Siacoin Cold Storage

Last but not least is the Siacoin Cold Storage. From the start of this article, we have been emphasizing the security of the wallets. The wallets we’ve already talked about do a fine job at safeguarding their user’s data. But is there a way to completely isolate all the traces of your valuable assets?

Yes, there is. Siacoin cold storage is the option you can use to achieve that level of security. It’s a facility for governing certain seeds and web addresses. What it does is connects to the main network for the Siacoin blockchain without an internet connection. Therefore, everything occurs offline. It does it through a process called air gapping

Air gapping is a network security measure. It is employed in several computers to secure the network. The network is physically isolated from all unauthorized networks. Therefore, no one can get access to it. This is the ultimate security measure to prevent cyber attacks. And Siacoin Cold Storage employs this technique to protect thousands of its user's keys. 

Pros:

  • Easy to use
  • Completely free
  • No risk of any technical issues
  • Maximum security

Con:

  • You can’t send or receive any coins from it.

Product Link: Click Here

How To Choose The Best

They all are amazing in their own way. Picking the best one completely depends upon how you want to use it. But there are certain factors you have to look for before getting a Siacoin wallet. Here are some of the most important aspects you need to know before thinking of getting your Siacoin wallet. 

Transaction Fees:

There are some wallets on the market that can cost you an arm and a leg. Typically transaction of  Siacoin requires a tiny amount of fee. The process is similar to any other traditional cryptocurrency. But sometimes because of obscurities, your fee can go up to exaggerating rate. That’s why always look for a Siacoin wallet that doesn’t charge much.

Transaction Time

If you are a crypto enthusiast, you already know what blockchains are. When you make a transaction, it is grouped in the blockchains as blocks. These blocks are grouped at all times. These blocks are finalized by crypto miners every ten minutes. In these ten minutes, you can’t do anything.

That’s why you have to accept the fact that transection takes time in Siacoin wallets. Therefore, look for something that matches this time range. Anything that exceeds it is fake and the ones that are below should be neglected.

Strong Seeds

As we’ve mentioned before, Siacoin is just a coin if there isn’t any key to it. The key holds all the value. It gives access to all the private file storage. This is the reason so many investors are thinking of it as an exciting and innovative investment venture. 

The thing you need to keep in mind is that you can’t always protect your wallet even when it is encrypted. If someone gets their hands on your wallets or your seeds, then it's over. They can go to your wallet list and make any amount of transactions. Therefore, your seed isn’t always protected by the wallet. You need to have a Siacoin wallet that has a strong seed with lots of words. It's wise to either print it or write it down so that it is physically secured. 

Things To Remember

While trading in Siacoin, you need to keep something in mind. Once the transaction is done, you can’t get it back. It’s an irreversible process. There’s no turning back. Therefore, while using a siacoin wallet it's important to check if you are sending your Siacoin to the right merchant.

By chance you send it to the wrong address, there is a slim chance that you are getting your coins back. That’s why always double-check before sending coins. Also, make your seeds and pin code as strong as possible. Don’t make it obvious by giving birth dates and your home addresses.

Final Thoughts

Cryptocurrency is the talk of the town now. Business tycoons like Mark Cuban and Elon Musk are talking about how it's going to be the game-changer in the next decade. When it hits the mass population, it's going to spread like wildfire. It's never too late. You can still try your luck by buying Siacoins.

And to make it big in the crypto world, you need an amazing Siacoin wallet. A wallet with all the necessities will give you the tools you need to be successful.

You can also read- CRYPTO20: A Comprehensive Review

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