IOTA is an open source cryptocurrency that uses distributed ledger technology and focuses on providing communications and secure payments on the Internet world. Compared to Blockchain-based currencies, there is scalability, decentralization, and the lack of transaction fees in this cryptocurrency. In this article, you will find out what is the best choice when it comes to IOTA wallet. To learn more about the basic terms used on this network, you can read our ‘What is IOTA?‘ article.

IOTA is a cryptocurrency suitable for investment. In December 2017, the price of this currency rose more than 600% and reached $ 5.5 from $ 1 (early 2017). One of the main reasons for this increase was believing in the cooperation of IOTA and Microsoft.

Types of IOTA wallet

iota

When starting to work with IOTA, it’s hard to understand the difference between the Light Node, the Full Node and all types of IOTA wallets. The important thing is to first understand the differences, and then you can decide which node to run:

  • Full node (GUI): This version is an IRI (IOTA reference) that can be accessed locally via a GUI. Each complete node needs to connect to its neighbors via a fixed IP.
  • Headless node: This method runs a complete node in your local console. You can access it through a simple interface called Nostalgia in your browser. This version requires the same specifications as a full GUI node, but it has the advantage that you can open several seed keys simultaneously.
  • Light wallet (GUI): A local interface that accesses an entire node (IOTA Node) in another environment. For example, this version acts as a node on the server.

Software IOTA wallet

IOTA Wallet is the official wallet that supports Windows, Linux and Mac platforms. This light wallet is connected to the GUI interface and enables you to use IOTA without the need to find neighbors. After buying IOTA, you can save it in the IOTA Wallet. IOTA Wallet is the best wallet for this cryptocurrency and among software wallets.

How to create a wallet in IOTA Wallet

Download IOTA Wallet desktop the GitHub website from this link. To begin, first determine which version you want to run, according to the above description; Light Node or Full Node. After selecting the light version, you can connect to any of the servers on the IOTA website.

iota wallet

Now, by copying or typing your seed key, in the Seed / Password field you can enter your AIOA wallet. In your wallet, you can view your account balance as well as three different options, send, receive and view history.

iota wallet login

How to send and receive funds in IOTA Wallet

  • Send IOTA

If you want to transfer IOTA to another wallet, click on the “Send” option on the main page. Fill in the required fields with care and be careful when entering the IOTA amount. You can use the drop-down menu to select different IOTA units, including Ti, Gi, Mi, etc. Finally, click on the “Send it now” option to complete the transaction.

The transaction is being sent and its duration depends on the speed of your computer as well as the chance.

iota wallet send

Each new transaction in IOTA must validate the two previous transactions. This unique technology (Tangle) makes transactions free from fees and the help of miners. After seeing a message that the transaction has been successful, your transaction is distributed to the network and shared between the nodes. This deal will be approved shortly by other trades. You can also see the status of transactions in the “History” section.

If the transaction is not confirmed by network, click on it and use the “Replay” option to re-check.

  • Receive IOTA

Clicking on “Receive” will generate a new wallet address for you. You can attach this address to Tangle, although this is not mandatory and you can receive IOTA without it as well.

If you select “Attach to Tangle,” then the IOTA Wallet will perform the required work, and then broadcast this address across the network. This will save the addresses used in the wallet.

iota wallet receive

How to create a new seed in IOTA Wallet

Consider your Seed Key as the username and password that provides access to your bank account. If someone steals it, they can log in and access your assets. So keep your seed in a safe place, because it is the only way to enter your IOTA wallet.

You must randomly create a 81-character length seed using the letters A-Z and 9. Depending on the operating system, you can use the following commands to generate new seed randomly:

For Linux > {cat /dev/urandom |tr -dc A-Z9|head -c${1:-81

For Mac > cat /dev/urandom |LC_ALL=C tr -dc ‘A-Z9’ | fold -w 81 | head -n 1

Leila

Author Leila

Leila is a technology enthusiast and an avid blogger who holds a Master's degree in English literature. If she is not writing blog posts, you can find her cozying up in bed with an e-book or watching a movie.

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