We already have decentralized exchanges (DEXs), decentralized applications (dApps), the system of decentralized finance (DeFi), and many more. The Sia platform introduces a new way of cloud storage. Move over, DropBox! We are going to store our data in a decentralized manner. We’ve investigated Siacoin wallets to introduce the list of best wallets to store SC.
About Siacoin (SC) Cryptocurrency
Sia is a decentralized cloud storage platform secured by the Sia blockchain. The project was launched five years ago, yet the idea was proposed in 2013 by David Vorick and Luke Champine. Today, the team of the Boston-based crypto project, Nebulous, together with the founders is working diligently to improve the platform and reveal to the world advantages of peer-to-peer (p2p) cloud storage. If this cloud storage solution were introduced in 2014, celebrities and any other person in the world wouldn’t worry about their private photos, videos, etc being compromised.
The network is aimed to provide every user with an affordable way to store any data. Compared to other services that require ~$10/1TB (DropBox, iCloud) for cloud data storage, keeping your files on the Sia platform will cost $1-2 per month.
Once you upload files to Sia, you are becoming a renter. Users who provide space for your data storage called hosts. Uploaded files get split up, encrypted and spread among all Sia’s users. Don’t worry about hosts being able to see your data as they receive a tiny piece of the encrypted file. The only person that can access your data is you and this is the magic of the blockchain technology.
Siacoin (SC) is a cryptocurrency aimed to maintain the proper work of the Sia network. You can purchase storage space with Siacoin utility token, while hosts are getting paid in SC in return. Siacoin (SC) can be later exchanged to another cryptocurrency and later to fiat on crypto exchanges that support Siacoin (SC).
Top 4 Siacoin (SC) Wallets to Use in 2020
Sia-UI is an official Siacoin wallet recommended by the team behind the Sia project. This is a comprehensive UI client that is going to store Siacoin (SC) safely in one place. See the balance and track your transaction history, send and receive SC cryptocurrency via the official Siacoin (SC) wallet. As it is a GUI, it allows you not only to manage your Siacoin, but also to interact with a decentralized network, and so on. Sia-UI can be downloaded on Windows, Linux, and macOS.
#2. Sia Cold Storage
Sia Cold storage allows you to generate seeds and addresses without being connected to the network. Such method of storage is called ‘air gapping’ and helps safely store Siacoin tokens while reducing the risk of loss. All you have to do is to download the latest release for your platform that can be found here. This utility is suitable for long-term SC storage. Note also that it can’t send or receive tokens, but protects your tokens from intruders.
#3. Sia (for Android devices)
Sia is an application for Android devices that can be downloaded right from Google Play. However, it is neither an official Siacoin Android wallet nor it is developed by the Sia team. This Android client for a decentralized cloud storage platform allows you to send, receive and store Siacoin and also store your files in the Sia network. It is pretty convenient to manage your SC assets on the go. With the native UX/UI, this mobile app perfectly suits crypto novices.
#4. Ledger Nano S
The Sia team announced that Siacoin could be stored on the hardware Ledger Nano S wallet almost a year ago. Ledger provides safe storage for over 1000 cryptocurrencies. The fact is your private keys never leave Ledger Nano S and cannot be stolen unless your device is connected to a compromised computer. Manage your Siacoin (SC) and other digital assets via secure hardware wallet.
We hope that this article was helpful and you’ve found your best Siacoin (SC) wallet. The Sia platform is a promising project that will be a vital element of our daily lives once the crypto industry meets mass adoption. As of today, the price of Siacoin (SC) is $0.0022 while the Siacoin (SC) market cap hits $91,453,000. The cryptocurrency is listed on major crypto exchanges including Binance, HitBTC, Huobi, Bittrex and so on.