To make it as easy as possible for you to find the best Ravencoin Wallet, we have created the following Wallet-Guide for RVN. In this article, we showcase the best Ravencoin Wallets, categorized into Hardware, Desktop, Mobile, and Online Wallets. Before introducing the individual wallets, we provide an overview of crypto wallets and their essential functions. If you prefer to skip this section, click here to jump directly to the best hardware wallets for Ravencoin.
Cryptocurrency wallets differ significantly from traditional wallets used for fiat currency. While physical money is stored in a conventional wallet, crypto wallets are responsible for securely managing digital assets. However, there is a crucial distinction beyond this:
A cryptocurrency wallet does not store the actual coins (which exist on the blockchain) but instead holds the private key, which provides access to those assets. If someone gains access to your private key, they can control your Ravencoin. Therefore, keeping your private key secure is crucial.
A wallet serves as an interface to access the blockchain using the private key. The statement that “cryptocurrency is stored in the wallet” is misleading. Depending on whether the private key is stored online or offline, wallets are divided into two types:
- Cold Wallets (offline)
- Hot Wallets (online)
Cold Wallets store private keys completely offline, eliminating exposure to online threats. In contrast, Hot Wallets store private keys on internet-connected devices, making them more susceptible to hacking attempts.
This key distinction is why major investment firms and crypto exchanges keep most of their customers’ assets in cold wallets. By staying offline, cold wallets provide the highest level of security against hacks.
Following this best practice, cold wallets offer the most secure option and are typically available as hardware wallets. However, unlike software wallets, hardware wallets are not free—they require an initial purchase, though usage after setup is free.
Beyond understanding the technical aspects of wallets, here are two key recommendations:
1.Before buying Ravencoin, you should already have a secure RVN wallet set up. If you purchase Ravencoin through an exchange, you can provide your wallet address at the time of purchase, saving potential withdrawal fees. 2.While storing RVN on an exchange wallet is the easiest option, it is not the safest. When you store RVN on an exchange, you do not control the private key, meaning you rely on the exchange’s security. Exchanges are also common targets for hackers, as seen with past breaches of platforms like Binance. To protect your RVN, consider using a non-custodial hardware or software wallet for long-term storage.The best Ravencoin hardware wallets
Hardware wallets are the safest option to store Ravencoin’s private key! As a type of cold wallet, hardware wallets keep private keys completely offline. This means that the keys never connect to the Internet, even when executing and confirming transactions.
This high level of security is achieved because only non-critical components of hardware wallets connect online to retrieve and send blockchain data. This design makes it nearly impossible for hackers to access private keys.
The best hardware wallets are also protected against physical theft. If a thief steals the device, security features such as PIN protection and 2-factor authentication (2FA) ensure your Ravencoin remains safe. The only real downside is that hardware wallets are not free. However, the advantages far outweigh the drawbacks:
✅ Private keys stored offline
✅ Support for multiple cryptocurrencies
✅ Regular updates from manufacturers
✅ Reliable customer support
❌ No deposit insurance, unlike eToro
Below, we present the two best hardware wallets or Ravencoin. Currently, only Trezor (SatoshiLabs) supports RVN. While Ledger is working on RVN integration, it is not yet completed. You can check the latest status here.
1.Trezor Model T
The Trezor Model T, launched in May 2019, replaced the Trezor One and introduced numerous new features along with support for more cryptocurrencies. It stands among the best hardware wallets available. Key features include:
- Touchscreen: Transactions must be confirmed directly on the device.
- Enhanced Firmware: Improved security features with Trezor Core.
- Faster Processor: Improved speed and performance.
- Micro-SD Slot: Allows for encrypted data storage.
- USB-C Port: Faster and more efficient connectivity.
Ravencoin is managed using third-party software such as the Mango Wallet.
2.Trezor One
The Trezor One is one of the most recognized hardware wallets worldwide. Released in 2014, it was the first-ever crypto hardware wallet and remains a popular choice for securely storing digital assets.
The best desktop and mobile wallets for Ravencoin
Desktop and mobile wallets are considered hot wallets and function as programs installed on a computer or smartphone. The private keys are stored locally on the device in an encrypted file, allowing users to sign and approve transactions securely.
Unlike hardware wallets, these wallets have the disadvantage of being stored on devices that are at least temporarily connected to the internet. However, a significant advantage is that the private keys are stored on your own device, not a company server like an exchange wallet. This ensures that only you have access to your Ravencoin (RVN), providing higher security than an exchange wallet.
However, storing your private keys on a desktop or mobile wallet requires responsibility. Users must protect their wallets from potential hacker attacks by using updated antivirus and anti-spyware software. Despite these risks, desktop and mobile wallets still offer the highest security among free wallets.
✅ Free to use
✅ More secure than exchange wallets
✅ Support for multiple cryptocurrencies
✅ Mobile access to Ravencoin (RVN) via smartphone
❌ No deposit insurance, unlike some custodial wallets
❌ Need to verify wallet legitimacy to avoid fraud
- Official Ravencoin desktop wallet (Linux, Windows, MacOS)
- Official mobile Ravencoin wallet (iOS and Android)
- Trust Wallet (iOS and Android)
- Edge Wallet (iOS and Android)
- Exodus Wallet (Linux, Windows, MacOS, iOS, Android)
1.Official Ravencoin Desktop Wallet
The Official Ravencoin Wallet is the safest free wallet available. It is a full node wallet that downloads and synchronizes the entire Ravencoin blockchain to ensure full network participation.
For beginners, this may be a disadvantage as it requires continuous updates and storage space. As of now, at least 8GB of free storage is recommended, and this will increase over time.
On the plus side, it is constantly updated and maintained by the Ravencoin Foundation, ensuring the latest security and network features. The private key is stored only on your desktop PC in encrypted form, and a backup seed phrase can be created in case of device failure.
You can download the wallet from the official Ravencoin website.
2.Official Ravencoin Mobile Wallet
Unlike the full node desktop wallet, the Ravencoin Mobile Wallet is a light client, meaning it does not require downloading the entire blockchain. This makes it more practical for everyday use.
Despite its lightweight nature, it maintains a high level of security, as updates are regularly released by the Ravencoin development team. The private key is stored only on the smartphone, and a backup can be created.
For added protection, the app allows PIN protection in case of theft. Developed with funding from Medici Ventures, a venture capital division of Overstock.com, it is available on both Google Play Store and Apple App Store.
Further wallet options for Ravencoin
1.Pocket Raven – Web Wallet
Pocket Raven is the official web wallet for Ravencoin, offering quick setup without requiring updates like desktop or mobile wallets. Creating a wallet is as simple as choosing a username and password, making it one of the easiest ways to store RVN.
Unlike other online wallets, private keys are not stored on corporate servers. According to the Pocket Raven website, the developers never store or see private keys. Additionally, Cloudflare Full SSL encryption is used for security, though users must still take precautions.
Security risk: The weak point is the user’s computer. Since private keys are stored in the browser, it is the user’s responsibility to prevent malware from accessing them. Users should also keep a backup of private keys as there is no guarantee that Pocket Raven will always remain available.
You can access the wallet via the official website.
2.Ravencoin Paper Wallet
The Ravencoin Paper Wallet is recommended by the official Ravencoin website and is an open-source project available on GitHub. It generates public and private keys offline using randomized inputs, such as mouse movements or random text.
A paper wallet provides maximum security since private keys remain completely offline. However, it is only suitable for long-term storage, as spending RVN from a paper wallet requires importing the private key into another wallet (e.g., Pocket Raven). Once a paper wallet connects to the internet, it should be discarded and replaced.
Important security tips:
- Generate the wallet offline by disconnecting from the internet or running the wallet generator from a downloaded file.
- Print multiple copies and store them in secure locations. Never save an unencrypted copy on a computer.
3.Exchange Wallets
Exchange wallets are the most commonly used wallets since they allow direct trading of cryptocurrencies without external transfers. However, despite their convenience, they are not recommended for long-term storage due to security risks.
Main risk: The exchange holds your private keys, meaning users rely on the exchange to keep them safe. Hacks on exchanges have occurred multiple times, including the Binance hack in May 2019, where 7,000 BTC were stolen.
Therefore, exchange wallets are the least secure option for storing Ravencoin. Users should only keep RVN on an exchange while actively trading. For safety, only use reputable exchanges such as Binance, Coinbase, CEX, Litebit, and Coinmerce.
