Choosing a Digibyte wallet is a task that requires analysis and time. The wallet you choose will help you send, receive and store Digibyte (DGB) on a regular basis. This is why you want to make sure the best Digibyte wallet you use provides you with the necessary features and security standards to hold your funds.
In the next sections, we go through the most popular wallets to store your DGB funds. Although there might be other wallets in the market, we go through those that have already been tested and that have been around for a while.
What is Digibyte (DGB)?
Digibyte (DGB) is a cryptocurrency and blockchain network that focuses on scalability and security. The project was launched back in 2014 and it is one of the oldest alternative virtual currencies in the world.
In order to operate, Digibyte works in a similar way to Cardano (ADA). There are three main pillars of the project: Open-Source developers, the DigiByte Foundation and the Awareness Team.
Open-source developers work in order to improve the development of the ecosystem and the DGB virtual currency. The DigiByte Foundation works so as to increase research projects and help spread the word about this cryptocurrency. Finally, the Awareness Team deals with the marketing campaigns on social media and other platforms.
Users can send and receive DGB funds, and they can also store them. This is why it becomes definitely important to know the best Digibyte wallet. Like with other virtual currencies, transactions are irreversible and the network is fully decentralized.
Digibyte works with a Proof-of-Work (PoW) consensus algorithm. With it, a network of miners protects the blockchain and process transactions. They earn rewards in DGB for the work they perform. This is similar to how the Bitcoin (BTC) or the Litecoin (LTC) networks work.
However, there is a big difference between BTC, LTC and Digibyte mining. ASIC miners are not required in order to be part of the Digibyte network. Users can simply use GPUs in order to get access to the Digibye blockchain.
Furthermore, Digibyte is also a blockchain network that allows users to create Digiassets. These are crypto-related and blockchain-based assets that represent digital and physical things. Some examples include documents or financial assets, among other things.
Finally, Digibyte is also working on other initiatives such as an authentication system called Digi-ID. Due to these reasons, Digibyte is now among the top 100 largest virtual currencies in the world.
What is a Digibyte Wallet?
In order to store your DGB virtual currency, you should have a Digibyte wallet. With it, you would not only be able to receive, send and store DGB but you will also be part of the Digibyte community.
A Digibyte core wallet is certainly necessary for you to start using DGB. It is a key part of the ecosystem and the first point of contact for users with DGB coins or assets. Moreover, with a Digibyte wallet, you should get access to the features offered by the Digibyte network.
Depending on the wallet you use, you would be also able to interact with other blockchain networks. Some wallets offer support not only to Digibyte but also to other digital assets. There are thousands of virtual currencies in the world.
Types of Cryptocurrency Wallets
There are different types of cryptocurrency wallets. Each of them is different and offers a variety of services. However, there are some things we should take into consideration to find the best Digibyte wallet.
Custodial and Non-Custodial Wallets
The first thing we should know is that there are two types of crypto wallets: custodial and non-custodial. Custodial wallets include exchange wallets and platform wallets. This type of platform that allows you to hold virtual currencies will hold your private keys on your behalf.
That means that you would not have control over your funds as with a non-custodial wallet. For example, if there is a hack and the platform where you store your funds gets hacked, then you could eventually lose your DGB coins. This is what happened with the Mt. Gox hack back in 2013/2014.
Non-custodial wallets, instead, give you access to your private keys. In this way, you are your own bank. You are the real owner of your funds. Nobody else can get access to them unless they get access to your private keys.
Of course, being the owner of your private keys means that you also have to be responsible for them. Thus, you should properly store them and protect them.
Hardware and Software Wallets
Another distinction that is worth taking into consideration for this Digibyte wallet post is related to whether the wallet is a hardware device or a software program.
Hardware wallets are devices that keep users’ private keys outside the internet. They cannot be accessed by anybody else. Only the person that knows the private key is able to handle the coins that have been transferred to the hardware wallet.
Several years ago, a Digibyte paper wallet was the favourite method to store private keys offline. In this way, users knew their keys were not available to attackers or hackers. If you want to make sure your funds are safe, a hardware wallet is the best option available right now.
A software wallet is also a secure way to store your virtual currencies as long as you hold the private keys. Software wallets include smartphone apps and desktop wallets. Depending on the type of user you are, you might have both or just one.
If you enjoy paying and receiving DGB, the best thing you can do is to use a smartphone application. It is light and usually very easy to use. Instead, if you prefer to use a software wallet to also hold other assets, then a desktop wallet might be a better option.
Nonetheless, advanced users usually have different wallets. For example, they use a hardware wallet to hold their largest portion of virtual currencies and keep small amounts on software wallets.
Best Digibyte Wallets
You should already know that there is no killer Digibyte wallet. It might be difficult to find a wallet that would fulfil all your needs. This is due to the fact that wallet providers tend to focus on different features. While some wallets might offer better security standards, others could have enhanced privacy features.
For you to know which are the best Digibyte wallets, we have decided to do a list with the most popular ones.
Digibyte Core Wallet
Digibyte Core wallet is the most popular wallet for DGB holders. It works as a full DigiByte client and it also provides great levels of stability. Two of the main features of this Digibyte wallet include Dandelion and SegWit support.
The Digibyte Core Wallet works as a full Digibyte client. With this wallet, you will also download a copy of the blockchain. Thus, this is a wallet for users that really want to hold DGB for the long run and help the network expand.
DGB Core Wallet works as a Digibyte desktop wallet. It can be downloaded for Windows, macOS, Linux and RaspberryPi.
Coinomi wallet is a recognized crypto wallet that provides reliable and stable services for users to receive and send digital currencies. The main characteristic of this Digibyte wallet is related to the large number of assets it supports.
Although several wallets are offering multi-currency support, Coinomi has added more than 125 blockchains to its system. Thus, it is compatible with more than 1,770 virtual currencies in the market. This is exactly a great solution for those users that handle a large crypto portfolio and want to keep their funds under control.
If you want to use a Digibyte mobile wallet, this could be a great option. Moreover, you can also download it for desktop computers, making the whole ecosystem much more user friendly. Furthermore, the wallet is very secure and it offers 24/7 customer support.
Exodus is another Digibyte wallet you can download. This software wallet is one of the best if you want to get the power and simplicity of software wallets and simple integration with hardware wallets.
This is a Digibyte Wallet iOS devices support. Moreover, it is also available for Android devices and desktop computers. They are also offering support to more than 100 different digital assets. That means that you do not need to be worried about downloading different wallets to handle all the coins you manage.
In terms of security, the wallet includes standard solutions and it also supports exchanging assets with Trezor, one of the most popular hardware wallets in the world. In this way, your funds are always secure.
The Atomic Digibyte wallet is among the most useful ones for users and investors that want to hold their virtual currencies. Nowadays, more than 1 million users have downloaded this wallet. That means that the platform has been tested and tried by people from all over the world.
This is also a Digibyte Android wallet. If you want to hold your funds in your smartphone, you can simply do it with this Digibyte wallet. At the same time, it is also available for iOS users and it has a desktop version if you need to have more information about the funds you hold.
If you are a Digibyte lover, then Atomic could be one of the best options for you as it supports more than 300 digital assets. Moreover, individuals can easily stake ADA, ICX and ZIL, among other tokens. In this way, users can earn rewards on the tokens they stake.
In terms of security and functionalities, Guarda could be one of the best Digibyte wallets available right now. Users do not only have the possibility to store their DGB coins, but they can also stake, exchange, earn and buy virtual currencies.
Take into consideration that this is not a Digibyte online wallet. It is simply a software wallet that can be downloaded to your smartphone at any time. iOS devices and Android smartphones can download this virtual currency wallet that supports more than 10k tokens from different blockchain networks.
If you are an altcoin lover, then Guarda is among the best choices in the market. Furthermore, their security features make it very safe for users to hold their coins even for longer periods of time. Finally, if you want to sell or buy digital assets, you do not need to send them to an exchange. You can easily use your Digibyte wallet and buy and sell the crypto you want.
Trust Wallet claims to be the most trusted and secure crypto wallet in the market with more than 5 million people that are already using it. If you were thinking of a Digibyte gaming wallet, then, Trust Wallet could be the right option for you.
The wallet is available on the App Store and for Android devices as well. Considering that the NFT market has been expanding in recent months, you should also know that this wallet has also added NFT support for you to store your Digibyte and collectables all in one place.
Furthermore, Trust Wallet offers an exchange functionality. In this way, users do not have to use an exchange if they want to get access to Bitcoin (BTC). This includes a feature to buy crypto with a card (debit and credit).
Ledger Wallet is the most secure wallet currently available in the market. Users that want to store Digibyte for the long term should definitely consider this hardware wallet their first option.
If you see that your Digibyte wallet not syncing properly, then you should restart the application. However, Ledger offers great features through the Ledger Live software program. You can download it to your desktop and start enjoying some of the best features such as lending or buying and selling.
Finally, if you want to hold Digibyte for the long term, this is going to provide you with some of the best solutions. The wallet is extremely secure and it helps users get access to several crypto-related services and solutions. If you want portability Ledger Nano X would help you store your funds on a device that gets connected via Bluetooth to your smartphone or computer.