PIVX (PIVX), which stands for Private Instant Verified Transaction is an MIT licensed anonymity-based, community-governed fork of DASH. It is a Proof of Stake cryptocurrency with Zerocoin protocol implementation. PIVX has 2-tier currency: a regular coin for ordinary transactions, and an anonymous zPIV (which can be staked) for private transactions. Similar to Dash, PIVX supports quick and private transactions, along with masternodes. The decentralized network of masternodes facilitates treasury management and community governance.
Best 4 Wallet For Storing PIVX
1.Ledger Nano S
This is one of the best wallets you can get for your cryptos, including PIVX. And the same thing I have emphasized many times before on because it’s a hardware wallet, it’s equipped with enough security features to adequately secure your cryptos. The Ledger Nano S recently implemented support for PIVX, but it doesn’t support PIVX staking yet.
2. Desktop Wallet
It is a GUI wallet, meaning it will allow you to use it by interacting with a graphical user interface.
It is a synchronizing wallet, which means it will take some time to sync with the entire blockchain. Once the sync is complete, you can make a new wallet by backing up your seed key. You can also take a backup of your wallet by exporting your private key.
This wallet will also help you earn dividends by allowing you to stake your PIVX on it, and the same wallet can be used to run full node masternodes. Using this, you can also perform anonymous transactions that go through a mandatory Zerocoin protocol.
At present, it is available for Windows, Mac, and Linux operating systems, and it is highly recommended by the dev team that you should not use a version of the wallet that is 3.0.3 or below.
3. Coinomi (Mobile Wallet)
Coinomi is a popular multi-currency HD wallet that supports a plethora of cryptos, including PIVX. It allows you to control your private keys by providing you with an 18-word long seed key for the wallet. Using this seed key, you can restore your Coinomi wallet at any time in case your device is lost or damaged.
Currently, it supports a maximum number of cryptocurrencies in the market and requires no ID verification or email login to start using it. It also allows you to sweep paper wallets for some cryptocurrencies, which I think is a pretty neat feature.
4. WalletGenerator (Paper Wallet)
If you are comfortable using paper wallets, then you have an option of making a paper wallet for your PIVX funds in order to keep them safely in an offline environment. But in my opinion, hardware wallets are superior to paper wallets in providing a secure offline environment.
If you need a reference guide to making a paper wallet, then refer to this one. Note: Though this guide is for making a Bitcoin paper wallet, the process is the same for making a PIVX paper wallet.
Tips for securely storing your Golem
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.