Sia is a cryptocurrency that functions as an exchange platform for data storage. It’s decentralized, meaning that there are no servers or central points of failure.
All file contracts are stored on the blockchain and the network makes it so that anyone hosting files gets paid for doing so. This means that your data is encrypted, secure, and yours to control.
If you’re looking to invest in Sia’s volatile currency, you need to find a secure wallet to store your siacoin in. Read on for some of the best ways to keep your siacoin safe.
List of Best Siacoin Wallet for Desktop, IOS/Android Wallet
Siacoin wallets have a lot to offer; however, you may find it challenging to choose the best siacoin wallets because of security concerns. This is why we’ve put up this guide to assist you in your search for a desktop or mobile wallet that’s right for you and your cryptocurrencies.
People are increasingly looking for decentralized alternatives to services controlled by a central authority, and the Sia blockchain project fits the bill. According to this, the Sia coin is worth keeping an eye on.
So, we’ve created a list of the best siacoin wallets that you can choose from for your need.
1. Sia and Siacoin
Sia is essentially a decentralized marketplace for renting out excess computer storage space via the use of blockchain technology. Just like a peer-to-peer exchange of data, users can post their available computer storage space on the Sia platform to benefit others in need. David Vorick introduced the Sia platform for the first time in 2015 with the formal introduction of the Sia platform.
To compete with the likes of DropBox, Google, Microsoft, and Apple, the goal was to make Sia the “backbone storage layer of the internet.” Encryption of all transactions on the platform, as well as distribution of documents/files published to the platform, are standard. This gives users peace of mind knowing that their data is safe and can be swiftly recovered even if 20 hosts go down.
The primary application of Siacoin is to pay for transactions on the Sia platform. Payments for cloud storage are settled using Siacoin, the project’s native cryptocurrency.
Nebulous, the team behind Siacoin and the Sia storage platform built this wallet, making it the official one for Siacoins. In addition, you may download it directly from Sia’s official website, making it accessible and easy to use. It’s compatible with Windows, Linux, and Mac OS X. In addition, it’s the safest desktop wallet for your Sia tokens out there.
The best Siacoin wallet for iOS devices is Sia.UI, which is also compatible with iOS devices.
Just visit Siacoin’s website and download the Sia.UI wallet to get started. Afterwards, you’ll either create a new Siacoin wallet or restore an old one using a seed. For new wallets, you will be given 24 random phrases that will serve as your seed. Without these words, you will be unable to get into your account. As a result, make sure that you have a backup plan in place.
In order to utilize the wallet, you’ll need to download the blockchain to your computer. This process may take some time.
3. Ledger Nano S (Hardware Wallet)
Ledger Nano S is one of the best siacoin wallets available in the market. As a multicurrency wallet, you can also store coins other than Siacoin in this wallet.
The fact that Ledger Nano S is an offline wallet means that your private keys and other sensitive information are safe from hackers when you use it.
The fact that Ledger Nano S is an offline wallet means that your private keys and other sensitive information are safe from hackers when you use it. In addition, a simple USB connection to the computer is all you need to complete a transaction.
With the wallet, you get a detailed instruction manual on how to get the command line working. Newcomers may find it a little difficult at first. The Ledger Nano S may be purchased for €69 on the company’s website. So if you are looking for one of the best siacoin wallets for your cryptocurrency, try ledger nano s.
4. Sia Central Lite Wallet
The Sia Central Lite Wallet was released in January 2020 as an official Siacoin wallet to make it easier for users to send and receive Siacoins. In addition, users of the Sia Central Lite Wallet can opt-out of syncing with the Sia blockchain, which, according to comments, takes a long time. It also eliminates the necessity for customers to place their trust in an unknown service.
Ledger Nano S wallet compatibility for Sia Central Lite is an interesting development. Android, iOS, and desktop browsers can all access it.
5. Sia Android Wallet
This app is for people who want to keep their money on the go. However, neither the Sia team nor the developers of the Android wallet are endorsing or recommending this third-party software. Therefore, only an Android app for Siacoin and the only mobile app for Siacoin is available.
A full node on the Sia network, this Android app must first download the entire blockchain in order to function properly. Unfortunately, Sia’s software has a constraint that causes this process to take a long time (often several days). Still, the app itself has nothing to do with this.
As a full client, the wallet may also be used to store files on the Sia platform and transmit and receive Sia. However, in order to make sense of the restricted capacity on mobile devices, the app cannot allow you to rent out your storage space.
Although the app has a 3.9 rating on the Google Play Store, many negative reviews have been attributed to the wallet’s sluggish syncing with the blockchain, which is beyond its control. In addition, there is a monthly subscription cost of $0.99 to unlock all of the wallet’s functions.
6. Sia Cold Storage Wallet
If you are looking for one of the best siacoin wallets that let you build a Sia seed and an address list for your Sia wallet, use the Sia Cold Storage app. A procedure known as “air gapping” allows you to store your Siacoin without the risk of viruses or malware or the fear of hackers tracing your network traffic by running the application offline.
Sia Cold Storage may be downloaded from Github and is designed to be used offline. However, it’s recommended that you utilize an air-gapped LiveCD or an unconnected computer for optimum results and security.
It is safe to share any of the addresses generated to accept payments or transmit your own coins from another wallet, exchange, or mining pool. Using this method, you will be able to keep your money safe and sound in your wallet.
Using Sia-UI, you can restore the seed whenever you need to access the cash for trading or spending.
7. Sia Atomic wallet
In addition to cryptocurrency, Siacoin will soon be supported by Atomic Wallet. More than 300 digital currencies can be stored in the Atomic wallet’s non-custodial, decentralized wallet.
Siacoin and other cryptocurrencies could be supported by the wallet, according to its claims. However, this support has not yet been rolled out. The Atomic wallet doesn’t currently accept Siacoin, but the blog article says “coming soon.”
Going through our list of best siacoin wallets should give you an idea and make your decision easier. Siacoin wallet makes it easier to store and monitor your investment. Although not many are available for the few, the ones available have awesome unique features for a better experience.