IOTA Wallet

Anisa Batabyal
| 30 April, 2020 | 2 min

What is IOTA Wallet?

IOTA was developed to enable the “paradigm shift” to the Internet of Things (IOT) by establishing a “de facto standardized “ Ledger of Everything. IOTA focuses on providing an infrastructure to enable transactions between devices on the “Internet of Things”. The platform’s native token is the IOTA cryptocurrency, which is also one of the world’s top 15 biggest digital currencies by market capitalization. IOTA doesn't use the traditional blockchain design which is being used by most of the cryptocurrencies. Instead, it has developed a new platform known as Tangle, that uses a mathematical concept known as Directed Acyclic Graphs (DAG). For the transaction to be valid, each node in a DAG Tangle has to approve two previous transactions at other nodes. 

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IOTA also does not charge any transaction fees and claims to have solved scaling problems, like delays in the network due to block congestion, related to BTC. IOTA usage is expected to simplify transactions and processes involving objects that have sensors. A simple example of a use case is that of an IOTA-enabled vending machine, that can dispense soda without involving the associated transaction costs and latency of bitcoin.

List of 5 best IOTA wallets in 2020

The top 5 IOTA wallets in 2020 are:

  • GUI IOTA Light Wallet
  • IOTA Wallet Trinity
  • Nostalgia Wallet
  • IOTA Wallet (Android)
  • IOTA Wallet Ledger

#1 GUI IOTA Light Wallet  

This light-weighted wallet is incorporated into IOTA’s graphical user interface which allows fast access to your IOTA holdings. It is very beginner friendly as it has an easy user interface, which is fast along with being simple. You would be able to choose whether you want to run a full node or a light node after downloading the wallet – selecting a light node is recommended for beginners because it enables you to use IOTA without the need to find and connect to neighbors via a static IP. 

The GUI Light Wallet interface looks easy at first glance, and the wallet runs on Windows, Linux and Mac operating system and is one of the best IOTA wallets windows. Your private key also remains in your possession at all times.

Click here to access GUI IOTA Light Wallet

#2 IOTA Wallet Trinity

It is both a mobile and desktop-friendly wallet, which is very user-friendly, with all the upgraded technologies. Tasks are automated, all you need is to enter the correct address and amount, Trinity takes care of the rest. Trinity is a well-secured wallet, which protects you in every step. The setup process is, and you can create a backup of the wallet. Trinity is available on both android and ios versions. For desktop, it supports Windows, Mac, and Linux and is one of the best IOTA wallets online.

They might add some features including multiple languages, primary or expect mode, and the ability to print an IOTA paper wallet, making it one of the best IOTA wallets Mac. 

Click here to access IOTA Wallet Trinity

#3 Nostalgia Wallet

Nostalgia is a desktop wallet for IOTA, which is available for Windows, Linux and Mac operating system. It is a lite wallet, which is quite secure but is not suitable for the beginners as its interface is complex. It is mainly recommended for experts, and you can set up taking help from the tutorial. Once you figure out how to use Nostalgia, you can get the fastest access to the IOTA network.

Click here to access Nostalgia wallet

#4 IOTA Wallet (Android)

This is a light client designed to offer fast and easy access to your IOTA holdings, this open-source wallet is absolutely free to download and use. It’s reasonably easy to interact with and you’ll be able to start sending and receiving IOTA tokens quickly, making it the best IOTA wallet android. (IOTA Wallet GitHub)

Other features include QR code support, a seed generator, seed password protection and the ability to view your current IOTA balance in a range of currencies. A live Tangle explorer with the search function is also included. 

Click here to access IOTA Wallet (Android)

#5 IOTA Wallet Ledger

Another one that falls under the list of top IOTA wallets, 2020 is IOTA wallet Ledger Nano S, which became popular as the hardware wallet. IOTA Foundation has recently made an announcement of this. The Ledger Nano S hardware wallet will enable users to protect the private keys giving access to their IOTA tokens in a state-of-the-art secure chip. The Ledger hardware wallets integrate with the IOTA Trinity and Romeo Wallets and isolate user’s seeds (the key for their account) from their computer or smartphone, providing another layer of security from hackers. Users will be able to validate transactions on their Ledger hardware wallets as part of the security protocol.

Security is what it makes this wallet might fall into the top IOTA wallet category once it's launched. It includes 2-factor authentication, a secured and safe PIN code, and recovery seed accessibility. It has a built-in OLED screen, wherein you can check the transaction details with a double-tap button. IT is one of the best and secure IOTA wallets, investors can use it without any fear.

Click here to access IOTA Wallet Ledger

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