Siacoin is a decentralised cloud storage platform. They want to make data storage more affordable and robust with the help of blockchain technology.
And to use the decentralised storage platform a user needs to pay for it with Siacoin. This is applicable for both renters and hosts that use Siacoin. So the ecosystem is completely built on the Siacoin to function.
The idea of Siacoin (SC) is very interesting and it is a use case that is simple, but it makes sense. This has put Siacoin on the map for many crypto investors. Looking into adding the SC coin to their crypto portfolios.
If you want to buy some SC we recommend to use any of these popular cryptocurrency exchanges:
And the very important step after you have bought some Siacoin (SC) is to find a good and reliable Siacoin wallet.
A wallet that is secure but also could meet other important needs that are wanted by many traders and holders:
- High security – keeping your coins secure
- Accessible – being able to access your wallet at any given time
- Reliable – knowing that your Siacoin and the wallet will be around for a long time
So to help investors to SC find a wallet that could match their needs we decided to do some research dig out the 4 best SC wallets out there.
Learn more about Siacoin and the SC cryptocurrency
- Visit Siacoin’s website and find out more
- Spend time with the community at Siacoin Reddit pages – Siacoin to learn more about the product and development and Siatrader to discuss investing and trading
The 5 best Siacoin wallets to store your SC coins
1 ) Ledger Nano S (hardware wallet)
Did you know that you could store your SC coins on the secure hardware wallet Ledger Nano S?
Storing your cryptocurrencies on a secure hardware wallet is a given amongst many crypto traders and holders. A hardware wallet gives you an extra dimension of security.
A hardware wallet like the Ledger wallets keeps your private keys (the keys needed to access your cryptos) secure on a separate device that is always completely disconnected from the internet (offline). And thus might more secure.
And the Ledger Nano S is one of the most popular cryptocurrency hardware wallets out there.
The Siacoin team has worked hard to create their own developer’s release version making it possible for Siacoin holders to store their SC on the Ledger Nano S and X.
This addition has been very welcomed by the community, and it shows the effort the team is putting in to help the SC holders.
Check out this guide on how to set up your own Siacoin wallet support for the Ledger Nano S model
To use the Ledger Nano S you connect it to your computer or mobile phone. And access the cryptos via the application called Ledger Live. To send and receive cryptos. And check the balance of your portfolio.
Lear more about keeping your cryptos safe and protected in our guide
Invest in a safe Ledger Nano S to protect your SC’s here
2 ) Sia UI (Desktop wallet)
Another option that you have for storing your Siacoins is using the official Sia UI client. You can download this from the website and it should be one of the better Siacoin wallets to pick as it is developed by the team behind Siacoin.
It is available for Windows, macOS and Linux. And it
To get started using the Sia UI wallet head over to Siacoin’s website and download it to your computer.
When you have downloaded the wallet you can either:
- Create a new Siacoin wallet
- Or restore a wallet from seed your passphrase that unlocks your Siacoin wallet
When you create a new wallet there will be 24 random words that work as your secret seed. Make sure you keep a safe backup of those. In the case that you’d lose it then you can’t access your wallet anymore.
It might take a while for the wallet to first set it up. It is basically downloading the blockchain to your computer. So that you can access it and use the client and for accessing the file manager and store your files securely on their platform.
3 ) Sia cold storage (Wallet generator)
Another option for storing your Siacoins is to use cold storage client.
The cold storage option is free to download, and it is created by a former Sia developer.
It was created in 2017 and there have since been two additional release updates (latest one in 2018).
So with the cold storage wallet for Siacoin you can generate a new seed (access and recovery) and an address to use for sending coins to. So as the name suggests Sia cold storage is an offline wallet for safekeeping.
You can’t access the SC coins from the wallet generator itself.
You have to use it with some other wallet for Siacoin. Such as the Sia UI wallet. Simply use your recovery seed to access your SC then.
So using the Sia cold storage wallet is like using a paper wallet. And it is a smart choice for keeping your SC safe and locked away.
So you could use this as your Siacoin paper wallet generator. Simply create your own wallet, print the private keys and public address out and store it somewhere safe!
Download the Siacoin cold storage wallet generator here for Windows and Linux
4 ) Sia Android Wallet (Mobile wallet)
And the final choice to pick from for storing your SC is the Android app. The app is actually not developed by the team behind Sia, namely Nebulous Labs.
It is independently created by developer Nick Van Dyke. So it is not officially associated with Sia. But it is still an interesting choice for storing and using as your Sia coin wallet. And it is currently used by many SC users.
It is nice to see community initiatives like this help Sia to reach more people and provide an additional option for storing SC at.
Besides the usual features of a Sia wallet, such as creating wallet, sending and receiving SCs you can also run a Sia node on your Android device. And interact with the storage platform for interacting with the renter module.
Nick is planning to add support for complete blockchain integration as soon as its possible from Sia. So that you could use all the storage features of Sia. A
5 ) Sia Central Lite Wallet
There is a brand new Sia wallet that was just released. It’s called Sia Central Lite Wallet. And it is a new lighter wallet option that you also should be able to sync up with your Ledger (Nano S for now) device and store your SCs on it!
It is a web wallet interface that lets you create three different types of Siacoin wallets:
- 29-word seed wallets – Create a new Siacoin wallet. Most Sia wallets are 29 or sometimes 28-word seed wallets (read more about Siacoin wallets and seeds here)
- Ledger Nano S wallet – The web interface lets you interact with your Ledger device and the Sia application. It is only available (for now) on a Chromium-based browser (Chrome, Brave, Opera) and with enabled ‘Experimental Web Platform Features’
- Watch-only wallets – A receive-only wallet where you can receive and check your balance
The wallet is right now in Beta so it might be some early-days issues. But it was very easy to get started with and it is a clean-looking interface. We do appreciate the opportunity to use it with our Ledger device!
- Learn more about the wallet in a Medium post
- Follow the development of the wallet at GitHub
- And you can access the wallet here
Which Siacoin wallet should you choose?
So which of these four choices should you go for using as your Siacoin wallet?
Well, it depends a bit on what your needs are with Sia? Are you buying some SC for investment purposes?
If so then you might not need to access your SC that often. Then we would recommend the safest option which would be the Ledger Nano S or generating a new wallet with either Sia UI or the Sia cold storage wallet generator.
But if you value access and you are planning to interact with your wallet more often? Then the mobile app for Android would be a great choice.
It allows you to use the wallet to send and receive your cryptos as you need them.
But if you also want to use the services of Sia – the storage platform as well as storing your Siacoins, then you should go for the Sia UI.
It is a nice-looking GUI in which you can not only store your SC’s. But also interact and use the SC storage platform.
So that was the end of this guide on the best Siacoin wallets for 2020. There aren’t too many options available for storing your SC cryptocurrencies. At least if you compare to storing Bitcoin or Ethereum.
But the options on this list are definitely good enough for safely storing our SC. And in time more options might get added. So have a look at social media or follow what is new on Siacoin’s website to learn about any new releases.
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier