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Ravencoin Wallet: Which is the Best Option?

· in Guides
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Choosing the best Ravencoin wallet is a challenge for newcomers and also for expert users. RVN holders want to have the best Ravencoin wallet that would allow them to hold their coins in a safe and secure way. 

There are some good cryptocurrency wallets that users are able to download. Several companies in the crypto market are already offering support to RVN and allowing investors to securely store their funds. In the next sections, we will share with you all the information you should have about the best Ravencoin wallets currently available. 

What is Ravencoin?

Let’s start with the basics: what is Ravencoin?

Ravencoin (RVN) is a blockchain network that works on the creation and transfers of different assets. Users can create and trade any type of assets using this blockchain network. 

For example, a real-world asset can be represented on the Ravencoin network. A commodity, stocks or other assets can have their digital representation on the Ravencoin blockchain network. 

Additionally, Ravencoin users can also create and trade digital assets such as gaming items or software licenses, among other things. One of the interesting aspects of Ravencoin is that it was created as a fork of Bitcoin (BTC), the largest cryptocurrency in the world. 

RVN is the digital asset that powers the entire Ravencoin network. When we talk about a Ravencoin wallet, we make reference to a software program or hardware device for users to hold their RVN tokens.

The project has made headlines in recent weeks as the price of the virtual currency skyrocketed. Taking this into consideration, we should have a secure Ravencoin wallet to store our RVN tokens. 

Creating and Transferring Assets

Users that want to create an asset would have to burn RVN. By creating the representation of an asset, individuals will have to provide a name to that token. Additionally, users can also add the number of tokens with decimals. 

This is basically like running a token on any other blockchain network right now. It is possible to create different tokens on top of a wide range of blockchain networks such as Ethereum (ETH), Tron (TRX) or Binance Smart Chain (BSC). 

Transactions take place as in any other blockchain network. Users select the destination wallet and send the funds. Your RVN funds will always be safe in your wallet if you follow the standard security requirements. 

Every single transaction requires users to pay a fee. The larger the fee, the fastest the transaction is expected to be processed. 

What is a Ravencoin Wallet?

A Ravencoin wallet becomes the main piece of software used by RVN holders to interact with the network. Users can receive, store or send RVN from their Ravencoin wallet. 

Take into consideration that the Ravencoin wallet not syncing problem is a common issue faced by investors. Indeed, you should always make sure that the wallet is synchronized with the blockchain. 

The market has already created several Ravencoin wallets. Companies are offering users several options to hold their funds. Indeed, there are different types of Ravencoin wallets. We will go through them in the coming sections allowing you to analyze which is the best one to fit all your needs. 

Types of Ravencoin Wallets

There are different Ravencoin wallets. The official Ravencoin wallet download can be found using the following link. This site offers valuable information about the wallets that users can download. 

The first thing we need to know is that Ravencoin works in a similar way to other digital assets. There are two main types of cryptocurrency wallets: custodial and non-custodial. When we talk about custodial wallets we make reference to Ravencoin wallets that are handled by a third-party. 

For example, a cryptocurrency exchange that offers you a crypto wallet to hold Ravencoin is considered a custodial wallet. These wallets are usually not the best to hold coins if you want to invest in RVN for the long run. 

Custodial wallets are those devices to which you have the private keys. A hardware ledger wallet is considered to be a custodial wallet. But there are many others in the market. As long as you keep the private keys safe, your funds should be protected. 

Furthermore, some of the wallets that users can download include software wallets, for desktop or for smartphone; or hardware wallets. In addition to it, a Ravencoin paper wallet could also be used. Nevertheless, a Ravencoin paper wallet is not the best option if you want to keep your funds safe. 

You should know that there is no “best Ravencoin wallet.” Indeed, each of the wallets is different. Depending on your needs you would select one or another. For long-term holders, a hardware wallet could be the best solution. For users that handle their RVN on a daily basis, a software or desktop wallet could be the best choice. 

Atomic Wallet

Atomic wallet is one of the most popular cryptocurrency wallets in the market. This Ravencoin wallet offers RVN support as well as support to more than 300 different digital assets. According to the official Atomic Wallet site, there are more than 1 million users worldwide using this platform. 

Atomic Wallet Logo, one of the best Ravencoin wallet

The positive thing about the Atomic wallet is that it can be used both as a Desktop or as a smartphone wallet. It depends on you whether you want to have the wallet to handle Ravencoin on both devices (computer and smartphone). This is great to have access to several crypto platforms that might work better on a desktop rather than using a smartphone. 

Additionally, it offers staking support for other blockchain networks and digital assets such as Cardano (ADA), ICON (ICX), or Zilliqa (ZIL). Thus, you can easily manage your portfolio as well as your RVN tokens. 

Edge Wallet

The next Ravencoin wallet on the list is Edge Wallet. This digital currency wallet is one of the safest and most privacy-focused wallets to handle digital assets. It offers multi-asset support and it has in-app services such as a crypto exchange. You can buy or sell digital assets using this wallet. 

Edge Wallet logo

This wallet does offer support for smartphone users. You can download Edge Wallet for iOS or Android phones. It is worth mentioning that the application works as one app for all the assets you handle that is backed up with your username and password. You are not only able to hold Ravencoin but also some of the most advanced digital assets in the market. 

Exodus Wallet

Exodus is another popular Ravencoin wallet. You can download it to your smartphone or also to your desktop. This is very comfortable if you use both devices to handle your RVN funds on a regular basis. 

One of the positive things about this wallet is that it offers multi-currency support. This is very important because many other wallets in the market offer support to just one digital asset. Exodus supports literally more than 100 digital currencies. 

exdosu logo

As already other wallets are doing, Exodus has a built-in exchange. This is a great feature for Ravecoin investors that want to have fast access to the cryptocurrency market. Additionally, the wallet is very easy to use and it is considered to be one of the best for newcomers. 

Guarda Wallet

Guarda is another wallet that can be used to store Ravencoin. As you might already know, this wallet is one of the most secure in the crypto market. The team behind Guarda has added a wide range of features that allow users to get access to several other services in the crypto space. 

Users can handle thousands of digital currencies. Yes, thousands of cryptocurrencies besides Ravencoin. At the same time, this Ravencoin wallet offers staking for different digital assets. Moreover, users that want to exchange their coins directly from their wallet can do so with this Guarda wallet. 

Traders can hold Ethereum- and Tron-based tokens using the Gurada wallet. In this way, Ravencoin holders can handle their crypto funds and RVN tokens. 

Trust Wallet

Trust Wallet became one of the most-used digital currency wallets in the crypto market. They are offering to buy, selling storing and earning solutions to more than 5 million individuals. This Ravencoin wallet can be downloaded on different smartphones. 

Trust Wallet new logo

At the same time, you can buy digital assets with a credit card. This makes it easier for users to get access to virtual currencies without having to use a traditional crypto exchange. Ravencoin is just one of the many different digital currencies supported by Trust Wallet. Take into consideration that it can be more expensive for you to purchase Ravencoin using a wallet than a crypto exchange. 

It is worth taking into consideration that the Trust Wallet helps users to have direct access to decentralized applications (dApps). For example, users can open PancakeSwap, Uniswap and many other DeFi apps. 

Ledger Wallet

Ledger wallet is perhaps the most secure hardware wallet to hold Ravencoin. This wallet offers unique access to hundreds of digital currencies. Additionally, if you are a long term holder, then the Ledger wallet is the right device to use. 

ledger nano s on keyboard

The only minus thing about the Ledger wallet is related to its price. You have to pay for the device. But the positive things are endless. Nowadays, Ledger wallet has been integrated into a wide range of platforms in the crypto market. In the future, new solutions could be released as well. 

If you are a trader, other wallets such as Trust Wallet could work better for you. Nevertheless, having two different wallets for different use-cases is something very common in the crypto industry. 

Ravencoin Cryptocurrency

The RVN cryptocurrency is the token used on the Ravencoin platform. This currency can be used for many things. If you are a cryptocurrency investor, for example, you can use it to speculate on its price. 

Instead, if you are an advanced crypto user, you would use it to create and handle different tokens created on the Ravencoin platform. 

Another thing to take into consideration the RVN digital asset is related to its consensus algorithm. It uses a Proof-of-Work (PoW) consensus algorithm that has been adapted to support CPU mining rather than ASIC mining like on the Bitcoin network. 

In order to create a new asset, users have to burn RVN coins. The tokens created through this blockchain platform are fungible and can be fractioned. Furthermore, users can send and receive RVN tokens to pay for goods and services. 

Nowadays, the price of the RVN digital asset is close to $0.16 and it reached a new all-time high a few days ago when Bitcoin surpassed $55,000. Thus, it is very important for users to hold their RVN coins on a secure Ravencoin wallet. The coin has been among the top 100 for several months in the last few years. 

Buying Ravencoin

If you want to buy Ravencoin, you can do it using several crypto exchanges. Binance is the most popular exchange to buy RVN. This platform has been expanding in recent years and it is now among the most useful trading platforms in the world. 

Other exchanges include Upbit, Huobi Global, Bittrex, Coinex and Gate.io. The larger the platform, the larger the volume you will have for the RVN virtual currency. RVN/USDT is now the largest trading pair in exchanges such as Binance, MXC or CoinEx. 

Upbit offers RVN/BTC trading and Binance support RVN/BTC as well. There are other trading pairs. 

As we mentioned before, some of the crypto wallets we mentioned in this article offer buying solutions. Although you might have to pay higher fees than on traditional exchanges, it is always important to be able to buy RVN through a Ravencoin wallet. 

Final Words on Ravencoin Wallets

There are several wallets in the market offering support to Ravencoin. The positive thing is that there are dozens of recognized wallets that work with the RVN digital asset. That means that you can find a wallet that would meet all your needs. 

Furthermore, the RVN digital asset has experienced a massive price increase. If you need long-term wallet solutions there is also a hardware wallet that supports the RVN digital asset.