As a platform, Ravencoin is really built around decentralization ethically and technically. The Ravencoin network can be considered as distributed because it has no masternodes and there is no RVN issuance locked up for the project’s team and founders since there was no ICO for Ravencoin.
What is the Ravencoin wallet?
The wallet designed by the project’s development team is a piece of software meant to allow sending, receiving and storing RVN. In essence, the native Ravencoin wallet is a program that is compatible with all electronic devices with an Internet connection using all widely used operating systems. Ravencoin’s official website suggests using different wallets besides its native one among which is the Atomic Wallet.
Atomic Wallet is a software wallet compatible with a vast array of 500+ coins and tokens, which is regularly updated, including Ravencoin, Bitcoin, Ethereum with all ERC-20 tokens, XRP and other top cryptos.
The advantage of the Atomic Wallet is its compatibility with so many coins that it may alone satisfy your needs for storing cryptos. Yet, the security level it offers is no less strong than that of Ravencoin’s native wallet and other wallets specified on Ravencoin’s official website. Moreover, the Atomic Wallet does not limit your use of other wallets as it provides transfer of private key, which we will ponder later in this article.
Ravencoin wallet security
The Atomic Wallet offers a top-level security level for Ravencoin as well as for all other cryptos it supports. In providing a secure wallet Atomic Wallet’s development team relies on the protection of the private keys which is crucial in gaining access to the funds stored in the wallet. The private key can only be restored in case of its loss through a seed phrase that the user gets while creating an account.
Even though the Atomic Wallet follows high-security standards, it is the responsibility of the user to keep the private key safe after its acquisition, which means protecting it from unauthorized access. As suggested by many, the safest way of storing private keys is by writing them on paper or storing them on an electronic device not connected to the Internet.
When a user creates an account in the Atomic Wallet he or she gets two primary pieces of information needed to access the wallet: the password and a seed phrase. You need to enter the password into the specified field when logging into the wallet and the seed phrase helps to recover access to your funds in case you forget the password or lose access to the medium on which it was stored. The seed phrase is a chunk of randomly selected words going in a special order. Using the seed phrase means entering those words in the order in which they originally appeared in the specified field.
Following these security measures, you will protect your Atomic Wallet account from a breach.
How are your funds stored in Atomic Wallet?
Your funds are stored on the blockchains and can be accessed from different wallets supporting private key transfer. Therefore, the owner of the assets is not bound to solely use the Atomic Wallet if he/she uses it as a cryptocurrency wallet for his/her funds and can in parallel use other wallets to manage the funds stored on the blockchain.
How does Atomic Wallet work?
The Atomic wallet is a software multi-coin wallet that can be installed on all major mobile and desktop electronic devices. The curious detail about Atomic Wallet is that it can normally function without an Internet connection. It will provide separate addresses for all coins available in Atomic Wallet, and you will be able to use them to operate most or all of your crypto assets in a single app.
Another major functional feature apart from wallet features is the exchange of coins and all ERC-20 tokens within the app. This also includes fiat-to-crypto exchange operations. Thus, using the Atomic Wallet you can buy Bitcoin and other cryptocurrencies for fiat money and exchange any of your crypto assets for any of the ones listed in Atomic Wallet without going to one of the cryptocurrency exchanges. This option can be a good solution for strategic investors who do not buy and sell their assets every week or oftener.
The Atomic Wallet provides its users with a highly secure multi-coin cryptocurrency wallet with built-in fiat-to-crypto and crypto-to-crypto exchange features.
How to install Atomic Wallet?
In order to install Atomic Wallet, you will need to go to the download page and select the version you need for your operating system. You just need to press on the name of the OS. The download file window will pop up. You will need to save the installation file on your PC.
When the file downloads you shall run the setup file following the installation instruction and you will install Atomic Wallet on your computer.