Siacoin is a cryptocurrency designed for decentralized cloud storage. The coin was created in 2014 and has seen steady growth over the last few years, but it’s still not mainstream. That said, there are three wallets that have been released to help you store your coins securely.
The siacoin wallet 2021 is a cryptocurrency that has been around for quite some time now. It is currently the 3rd most valuable cryptocurrency in existence.
The fundamental idea behind blockchain technology is to store digital data in a decentralized, safe manner. While the majority of blockchain-based solutions utilize this ultra-secure database exclusively for financial purposes, a few brave souls have dared to try something new with it.
Sia is one such application. The Sia Storage Platform (SSP) is a blockchain-based cloud storage platform that competes with Amazon AWS. It works by storing your information on a worldwide network and encrypting it using the same methods that are used to create coins like Bitcoin.
This gives Sia a considerably more cost-effective cloud storage option, with uptimes similar to its established competitors.
While these ground-breaking capabilities make Sia an appealing investment choice for crypto fans, they also make finding reliable wallets that support the currency challenging.
This is because your Siacoins are not just tokens with a market value, but also the keys to your private file storage, which are dispersed throughout the Sia network. As a result, wallet integration with Siacoin is not straightforward and requires a high degree of cooperation.
So, what are the best wallets for Siacoin? Let’s have a look.
The Sia.UI Wallet is the official wallet for Sia, created by Nebulous, the Sia Storage Platform’s creators. Sia.UI is the safest and most secure wallet for keeping your Sia tokens on the desktop, and it’s available for Windows, Linux, and Mac OS.
What is the Sia.UI Wallet and how can I utilize it?
The First Steps
First and foremost, go to this page and download the Sia.UI desktop client. You’ll be asked to choose an operating system.
It’s time to extract the contents of the zip file to a new folder once you’ve downloaded it. Keep in mind that the Sia.UI client does not need installation; the unzipped contents will run as a standalone program. As a result, instead of extracting inside the downloads folder, make sure you unzip them to a ‘permanent’ location.
To proceed, all you have to do now is start the application. The Sia.UI wallet will try to synchronize with the Sia blockchain when it is initially launched. Because it must download each and every block of transactions performed to date, the process may take up to a day. This synchronization would take place every time you ran the program – but, if it’s any comfort, future time periods would be much shorter.
You may now start using your wallet once the synchronization is complete. You have two choices: establish a new wallet or restore an existing one. The second option is only helpful if you already had a Sia wallet or are switching to a different device.
Otherwise, choose the option to create a new wallet.
A screen will appear, showing the seed and password for your new wallet (if you choose to create one).
The seed, or mnemonic phrase, is your wallet’s private key. It may be used to get access to the data you keep on the Sia network, therefore write it down someplace safe rather than just taking a snapshot or entering it into a text file. The best option is a real paper wallet, but don’t leave it laying around in plain sight.
If you choose to use a password, the app will now ask you to input it in order to access your wallet. When you restart the wallet, it will be locked, which is a nice security step if you’re using a shared computer.
That’s all there is to it! You’ve successfully installed and configured the Sia.UI Wallet. Because your wallet is fresh, the welcome page will only display the phrase “No recent transactions.” Now is the time to make things right.
How Do I Get Sia Coins?
It’s simple to get Sia coins. All you have to do is provide the sender your address and wait for the transaction to appear in your wallet.
For the time being, your wallet has no set address. Your private key is the only thing that doesn’t change (or seed, as we called it earlier). Because addresses are created for each transaction, you should not utilize old addresses to get new ones.
Such information are taken care of by the Sia.UI wallet. Simply choose the Receive Siacoin option in the upper right corner of your screen. There will be a tiny chat box appear. The box displays a freshly created address that you may securely copy and transmit to the sender for money receipt.
You may sometimes need to retrieve outdated addresses that you have previously used. We need to do something different since hitting the Receive Siacoin button creates a new address every time.
To begin, go to the sidebar and choose the ‘Terminal’ option.
The terminal, as you would expect, is a window where you can input commands for the Sia client, and it provides more power and flexibility than the GUI choices. For the time being, though, we don’t need anything complex. Simply put in “wallet addresses” and press enter.
As you can see, the window will show all of the wallet’s addresses created to date. It’s worth noting that it doesn’t matter if the address was utilized or not – as long as one was created, it’ll be available here. This may be helpful for locating addresses that you have forgotten about for any reason.
Never, ever, EVER, EVER, EVER, EVER, EVER, EVER, EVER, EVER, EVER, This makes you vulnerable to hostile assaults, and your money and data may be stolen as a result.
What Is The Best Way To Send Sia Coins?
It’s just as simple to send your Siacoins. This time, just click the ‘Send Siacoin’ icon in the upper right corner.
This prompts you to input the send amount and the recipient’s address in a new box. Simply make sure you have enough money in your wallet to cover the transaction costs, then press the send button. That is all there is to it. The remainder will be handled by the Sia blockchain.
Android Sia Wallet
Sia does not have a mobile wallet, according to her official website. However, a third-party developer has created an android application that allows you to operate a Sia node on your phone.
The android Sia wallet, on the other hand, is no less than its rivals. The user interface is elegant, the controls are simple, and the performance is quick and fluid. You can also upload and download files to the Sia network directly from the app, which also has support for sophisticated features like as contracts and allowances.
Let’s have a look at how to utilize it.
To begin, go to Google Play and search for the Sia app. When you turn it on for the first time, you’ll see the screen below.
Although the synchronization procedure is required before sending any money, you may still receive tokens without it. Because the procedure may take a long time (and a lot of data), make sure you sync it with your home wifi over night.
Let’s start by making a wallet. Open the three-dot menu to do so.
As you can see, this menu lists all of the main choices for utilizing the Sia wallet for quick access. To proceed, choose the ‘Create Wallet’ option.
The Sia android wallet, unlike many other wallet apps, does not need you to give your wallet a name. All you have to do now is pick a secure password and confirm it. If you already have a Sia account and want to restore it, select the option to create from an existing seed.
This is where you must input your old seed if you are restoring a prior account. Otherwise, an information panel containing your 29-word mnemonic seed will display. Remember the warning above: the seed is the only thing between you and a hacker, and it’s essentially the key to your wallet. Seeds will be used to recover files saved on Sia in the future, so make a note of your seed and keep it someplace secure.
While the wallet provides a simple copy option, utilizing it is not recommended since merely saving your seed in a text file is the most common method for it to be exposed to a hacker. If you must save digitally, utilize an encrypted vault service or, better yet, an old-fashioned paper wallet. You don’t want your seed to be accessible by anybody else, believe me.
That’s all there is to it. It’s time to make your wallet. It starts off locked, and you must first unlock it from the menu by inputting your password before you can use it. If you’re going to leave your phone unattended for a time, you may lock the wallet again so that someone doesn’t stumble across it and start spending your money.
Let’s see how to utilize our gleaming new wallet now, shall we?
Siacoins are received in a variety of ways.
Receiving money on any wallet for any cryptocurrency is as simple as accessing and sharing your public address with the sender. This is as easy as accessing the three-dot menu and selecting the ‘View Address’ option on the Sia android wallet. (You may have also seen the ‘View Addresses’ option.) Don’t worry about it; we’ll explain everything shortly.)
You may also use the ‘+’ button in the bottom right corner.
The paper aircraft represents ‘Send,’ while the download arrow represents ‘Receive.’ For the time being, press the receive button.
As you can see, you’re given a lengthy string of….well, nonsense, along with a QR code. The ideal approach is to scan the QR code since it minimizes the chances of mistakes arising from a lost character or two while copying. However, if the sender isn’t close by, you may always copy and share the address.
Getting a List of Old Addresses
Please keep in mind that the address is not permanent in your account; the next time you click the ‘View Address’ button, you will see a completely new address. This is understandable, given that the addresses are created on the fly for each transaction and aren’t intended to be reused.
However, you may need to recover an outdated address from time to time. It’s possible that you misplaced the copied address before emailing it. Perhaps the transaction was never completed. In such situations, you may get the previous address back (but it is not advised).
To do so, pull down the three-dot menu and this time choose the ‘View Addresses’ option. For you, the software will create a list of all previously generated addresses in chronological order.
Siacoins are sent through Siacoins.
Sending money works in a similar way. Return to the bottom right corner and press the ‘+’ button once again.
This time, tap the paper aircraft.
The form is simple, as you can see; all you need is the recipient’s address and the amount to send. If you have the address copied, you may paste it into the box by using the clipboard button. Otherwise, clicking the QR code icon on your phone will scan for a valid QR code and immediately convert it to a Sia URL.
To begin the transaction, tap the arrow.
Examining your Seed
There’s no need to worry if you misplace the seed you entered during wallet creation. You may still look at the seed. Simply choose the three-dot menu in the upper right corner.
Select ‘View Seeds’ from the drop-down menu. Your mnemonic seed of twenty-nine words is once again in front of you. But don’t forget to maintain a physical copy of the seed as well; just because you can look at it whenever you want doesn’t imply you don’t need a backup. For instance, if your smartphone is lost or stolen, you’ll need the seed to reinstall your wallet on a new device.
A new set of choices appears when you tap the ‘Node’ menu on the upper left. These settings aren’t necessary for basic day-to-day transactions, but they do relate to Sia’s sophisticated capabilities.
A tiny submenu appears when you tap on the Renter option (denoted by the cloud).
The ‘Files’ option allows you to connect to Sia’s decentralized file storage network. When you initially open it, you’ll see an empty screen with a somewhat wordy information box alerting you of the Sia storage system’s present flaws.
In a nutshell, this refers to the difficulty to access files that have not been submitted from the same device. This is expected to change in the future, but for the time being, avoid keeping critical data on the Sia network, since losing your device will also result in the loss of the files.
You’ll be met with a fairly empty screen after accepting the message. Let’s make a difference. In the lower right corner, press the ‘+’ button.
The first symbol, as you would expect, is used to pick a file, while the second is used to select whole directories. The file explorer appears when you tap any of the choices, and you may choose the files you wish to save.
Options for customizing your view may be found on the upper right of the Files panel. The magnifying glass feature is useful for finding files if you start utilizing Sia storage in earnest and have hundreds of them.
Altering the sorting order is the second option. You may sort the files by Name, Size, and Ascending, among other options. Feel free to experiment with the different settings to see what works best for you.
However, there are a few things you must do first before you can begin saving data.
Sia’s file storage system is a little different from what you may be accustomed to.
Basically, you put aside a certain amount of money as a “allowance” for file storage. Renter, Sia’s storage module, then creates “contracts” with a suitable host to supply that storage. The Amount option under the Renter sub-menu may be used to establish and modify this allowance.
You may also get a breakdown of your expenses in the Allowance box. As you can see, the view displays the amount of allowance spent, the rental duration, and any renewal terms. Expect this view to grow in capability as the Sia blockchain develops.
Navigating to the Contracts option, on the other hand, will display all active contracts as well as the hosts with whom you have them.
Cold Storage for Siacoin
Siacoin cold storage is a service that allows you to generate Sia blockchain seeds and addresses without ever connecting to the network. This is referred to as “air gapping,” and it is a way of securely keeping your tokens without the danger of vital information being exposed to hackers tracking your network traffic.
It operates in a very straightforward manner. Simply download this useful program and run it on a machine that is not connected to the internet. For optimum security, boot it up using an airgapped LiveCD.
The created addresses may be shared with other users to receive payments securely or to transfer your own money from another wallet or exchange. However, you’ll need to utilize a wallet program to transfer money. As a result, the utility is ideal for setting up an account for long-term money storage, commonly known as “cold storage.”
DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
The siacoin wallet address is a cryptocurrency that was created in the year 2012. It has been around for quite some time now, and there are many wallets out there for this currency.
Frequently Asked Questions
Which wallet is best for Siacoin?
The best wallet for Siacoin is a hardware wallet.
What wallet can I store Siacoin?
You can store Siacoin on any wallet that supports it. If you are not sure, try to use Exodus or Jaxx.
Does Siacoin support atomic wallet?
Siacoin is not currently supported by Atomic Wallet.
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