In this article, you will learn what is a Ravencoin wallet. 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.
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.
What are the Types of Ravencoin Wallets?
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.
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.
How to Setup Ravencoin Wallet
Step 1: Go to Github Ravencoin Release and download the latest wallet version. The latest Raven wallet version is Raven Core version v0.15.99.0 which is Mining free. Back then when difficulty was too low the wallet used to mine using CPU power and every time you had to enter “setgenerate false” in the command window to stop mining which is not necessary with this new version.
Step 2: Once downloaded extract the wallet to the desired location.
Step 3: With Raven wallet you don't have to worry about moving the wallet from C:/ as by default it asks for the location to store your blockchain and wallet files. Make sure you choose a location where you have enough space.
Step 4: Once it is done the wallet should open and start synchronizing with the network. If it doesn't they try adding nodes.
Step 5: Next to create a new address go to File >> Receiving address and then create a new Ravencoin wallet address.
Step 6: Then for security reasons we highly recommend you to encrypt the wallet and here is the guide to encrypt the wallet.
That's all you need to know about Raven wallet.
Bottom Line
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. is a Ravencoin wallet.
