The Steem wallet is another known wallet in the digital currency community that is specially designed to store Steem tokens. If you are a Steem wallet holder, creating a Steemit account is necessary for you. What is even more favorable about using this wallet is the fact that it is totally free from charges and fees. This wallet is also compatible for use into any device and one of its added bonuses is that you can have the chance to get to check the world’s largest blockchain social media platform while you are in it.
Despite the many cryptocurrency wallets that are available in the market today, many users still favored the use of Steem in storing their digital tokens. Whatever kind of investor are you, getting some level of knowledge about the right Steem wallet for your digital coin storage is definitely a must. It is very important for you to understand the flow of transactions in the digital community and get to know the safest storage for your Steem tokens at the same time.
Different Tokens Stored in the Steem Wallet
The Steem coins work the same just like the popular Bitcoin. Through this token, users can also send, receive and even old coins from one wallet to another. Unlike other wallets, the Steem wallet has its own blockchain and it is a sort of an edge that users would love to consider into.
When purchasing Steem coins, most of the time, your funds are held in a third-party wallet. This can somehow mean that you have no control over your fund. However, when you download Steem wallet from your desktop or mobile device, you are the only person who will have the full authority over your private keys. Below are some of the Steem coins that you can opt to store in your Steem wallet.
#1 Steem Power – This is one of the ideal coins to be stored in your Steem wallet. And if you are looking for a long-term investment, consider buying the Steem power. One of the things that you can also do with this token is the fact that it can be converted into a traditional Steem coin. Once you do it, it is considered as the powering down of tokens and it is believed that the network is no longer benefiting from your stored tokens.
#2 Steem Dollar – The Steem dollar is believed to keep a 1:1 value as to the US dollar. This only means that their team has created a very stable currency which can be sold anywhere, and anytime. However, when compared to the Steem power, the Steam dollar is considered to be of less value.
#3 Steem Coin – This is just basically the traditional coin wherein users can get the chance to convert to the Bitcoin or in any digital assets they want to.
With all these tokens mentioned above, to get your own Steem wallet is important as it allows you to send and receive coins anytime. Once you get your own wallet for your desktop or mobile device, you will also have your own distinct wallet address that serves like a bank account number that allows you to interact and make transactions in this blockchain technology.
Top 5 Steem Wallets of 2019
In order to get the full control over your Steem assets, to get your personal web or mobile wallet is a must. It is only through Steem wallets where users can have full access to their digital assets and it is also being secured and protected by a private key. Take a look at this list of Steem wallets below and decide where you can store your Steem coin.
#1 eSteem Wallet – This option is a mobile wallet that is specially meant for the Steem tokens. When it comes to its compatibility, the eSteem is available for download for both Android and iOS users since it can easily be downloaded from their respective app stores. This wallet allows you to send, receive, and hold your coins for storage anytime you want to. While it is known to be a mobile wallet, it has been learned that eSteem will be made available for the desktop users anytime soon. It is considered as a user-friendly wallet since it has a very easy-to-use user interface. Apart from making transactions with your token, this wallet allows you to access blog contents, too. The wallet will be connected to your Steemit account so you can have your private keys that helps you secure your digital assets.
#2 Steemit – This is an online wallet that is solely intended for Steem coins. It has been said that your assets are far more secured when stored in this wallet rather than using traditional websites. This also have a private key which you can just simply access straight from its menu.
#3 Vessel – This is a desktop wallet that can be used and downloaded to your computer. The private keys are said to be stored directly to your wallet, thus, making your assets safe and sound. Just like the other type, this is also best for the beginners since it has a very user-friendly interface.
#4 CLI Wallet – This is regarded as one of the most secured wallets that can be installed to your desktop. With this CLI, you can simply directly connect it to the Steemit web wallet and make your transactions right then.
#5 Steem Paper Wallet – This is another option where you can store your Steem tokens safely. It is a basic type of wallet where you can simply right your important information on paper. This wallet is more resistant to hackers and theft since this is not being connected to the internet.
Setting up and Making Transactions with Steem Wallet
The very first thing to do is to visit the Steemit website and create your account. It is through the account creation where you can generate your Steem wallet. Once you already created your account, you need to log in and click on the drop-down menu in order for you to find your wallet.
Meanwhile, in order to receive funds, you need to supply the sender with your Steemit username and the STEEM withdrawal memo. In case when you want to send funds, you only need to login to your Steemit account, just look for the “transfer account” from the menu and get your transaction done immediately.
You are now getting the knowledge you need about Steem wallets and as to the kind of wallet that is best for you. Make sure to select the wallet that is best for your need all the time.