Programmers can build better blockchain applications which will have features like modularity, scalability, security, reliability and independency due to the Lisk framework. The Mainchain will be the hub for all sidechains, and host the LSK currency. This LSK token is considered the flag bearer of the functionalities of the Lisk network.
Lisk (LSK) has hit a market cap of $1 Billion, and currently trades at a price of $3.81. It has become a huge name in the altcoin market, and easily comes under the Top 30 cryptocurrencies that are traded across the world. For this amazing token, we need amazing crypto wallets. We need to know the features and specifications to look out for. And the next section is all about that.
Note: We included a few unofficial lisk wallet options at the end if you would like to explore but we always recommend you to try out the official options first whenever possible.
Factors to look out for while looking for a Lisk (LSK) Wallet
Scavenging through websites and forums looking for the comparing different crypto wallets can be a great challenge. To make it less challenging for you, we list out some noticeable features that good Lisk wallets got to have:
- Easy to use: Crypto wallets are basically software platforms made to store your cryptocurrencies securely and help users maintain and manage these currencies. This basic functionality calls for crypto wallets to be easy to learn and use, and be a good experience to work with.
- Secure and Reliable: Security is one of the core reasons people have turned to cryptocurrencies and blockchain. A good wallet assures top-notch security measures, and makes sure there’s no flaw for attackers to exploit in their platform. The services they provide should be safe to use, without any compromise in security and reliability.
- Privacy measures: Privacy has been in high considerations recently due to the obvious lack of it in many platforms from various fields. Wallets must ensure the privacy of its users is maintained. The various details and information going around the wallet, users and the transactions should be kept as private as possible.
- Dedicated Support: A product without a Customer support team behind it is just awaiting its doom. Customers are the center of any service or product. If a customer doesn’t get ample support on his doubts and queries, the brand has failed. You need to look out for a wallet which provides amazing support, online or any other way.
- Advanced Wallet Features: The Wallet you choose should be featureful, contributing to the work you’re expecting to get out of the wallet. Backup and restore options, compatibility with different exchanges, private key control, and multiple other features should be expected out a well-developed wallet.
- Regular updates and development: Taking feedback from the customers, and turning them into updates and fixes is a characteristic of good wallets. New developments should constantly take place in the wallet and its features.
Best Ways/ Wallets for Storing Lisk
1 Lisk Nano ( Desktop Wallet )
Lisk Nano ( Old Lisk Wallet ) is also an official desktop wallet, created by the Lisk team. This is a very lightweight wallet, and the easiest out of all the listed wallets for beginners to learn. The UI is as simple as it gets, and it enables you to access the user’s Lisk ID directly.
No blockchain synchronisation is required, which saves the users time, space and other resources. Sending and receiving LSK tokens is convenient, and so is accessing the public and private keys. One of the highlight able drawbacks is that no two-factor authentication is provided for extra security.
Lisk Nano is available on Windows, Mac and Linux. It is recommended for traders even without technical knowledge.
2 Lisk Hub ( Web & Desktop Wallet )
Lisk Hub is another official app from the Lisk team. It comes as a web wallet and a desktop one as well. It is an all-inclusive deal coming straight from the creators of Lisk. The fluidic and clean UI makes it a user favorite.
You can access your Lisk ID, send and receive LSK tokens and also vote for delegates. For extra security measures, a seed/passphrase is set and given just to you for when you need to access the Hub. Lisk is aiming at creating a decentralised exchange out of the Hub, as well as include sidechain registrations. This gives users future incentives to hang around for.
Lisk Hub is a balanced and amazing experience, and is recommended to all sorts of users.
3 Lisk Commander
Lisk Commander is a Command Line Interface(CLI) from the Lisk team. This doesn’t have a graphical interface, thus making it less favourable to use. It aims to be a simple low entry point and the most convenient tool for developers who prefer a CLI approach.
With Lisk Commander, it is easier and quicker to plug new commands into the CLI than building a GUI around every command. It is not exactly a wallet per se, but it can be a faster and more efficient way to access your coins than regular wallet, but only when used by developers who know the CLI approach.
4 FreeWallet ( Unofficial Lisk Mobile Wallet )
Freewallet is another useful app that allows you to store lisk securely. Although it is not the official lisk wallet, it offers a few neat features which make it one of the most user-friendly options out all currently available lisk wallets in the market. A few interesting features include real-time LSK price as well as charts, Fingerprint and PIN code Login, cold storage of coins, 2-factor authentication, built-in exchange, direct link to LSK block explorer and many more. Besides, they also offer great support right within the app 24/7 which could be a really compelling feature especially for beginners.
Update: Some of our readers informed us that there were cases of fund lost associating with the wallet previously, kindly DYOR and use it at your own discretion.
5 LiskPaper ( Unofficial Lisk Paper Wallet )
If having a paper wallet is your kind of "thing", then probably you can give liskpaper a go. With a paper wallet, you will be able to store your Lisk passphrase away from your pc which to certain extent, offers you an additional layer of security in safeguarding your passphrase. With that being said, this is an unofficial option and is not supported by Lisk team. You can give it a whirl if you really want to but we always recommend you trying out the official applications before resorting on any third party software / options.
Lisk is a revolutionary blockchain tech and cryptocurrency. Lisk team has worked hard and smart in bringing to you the best technologies with the best platforms. One needs to choose the best fitting wallet according to their expertise in the area and preferences in features. Are there any other lisk wallets that you think deserve a spot on this list? Let us know in the comment section below!