Daedalus Wallet: Safe Cardano ADA Cryptocurrency Storage?

The world of cryptocurrencies has been growing tremendously with the coins now numbering a little over 100. Out of these virtual currencies, however, there’s a relatively new entrant that has gradually gained its way into the top ten and boasts of a market cap of about $3 billion.

Cardano is a few months old, has almost similar traits to those of ETH, including allowing execution of small, smart contracts, and comes with a cryptocurrency component called ADA.

What is Daedalus Wallet?

For you to use ADA, you should first download Daedalus Wallet (Cardano Daedalus Wallet), install it on your PC and run it. At the moment, it is the only type of cryptocurrency wallet designed to safely and securely hold ADA tokens.

But ideally, Daedalus Wallet is different from all the other wallet types as it is safe, multi-platform, hierarchical deterministic wallet. It is an open source wallet that employs advanced cryptography technology to keep your funds safe away from anyone’s unauthorized access.

Features of Daedalus Wallet

This wallet is made to guarantee that all private keys are under the client’s control only since all are stored right within the PC – never set or stored on a server outside the device. Additionally, it comes with a backup or recovery feature to help one recover funds if need be.

It is made to guarantee unlimited accounting since you can manage as many accounts in its hierarchical deterministic implementation as possible. You can send and receive ADA tokens, view history of your previous transactions and be confident that your wallet is hacker-proof.

Other Notable Features:

• Private keys and spending passwords are encrypted as a smart way of dealing with malware.
• Wallets support exporting to paper certificates thus facilitating cold storage.
• Redemption of ADA is built directly into the wallet.
• A user can determine whether a transaction is reversible or not.

It is highly probable future versions of Daedalus wallet will grant independent developers to add innovative apps to this wallet’s structure. Some of the expected changes will include allowing micro edit, setting up repeated payments or even directly exchanging coins.

Can it be Relied On?

Being the first ADA wallet exclusively for Cardano whose value is quickly rising, there’s a considerable need to determine whether this open-source wallet is genuinely legitimate and reliable. It is on top of Electron, thus safe and hacker-proof. Also, it comprises rich and secure APIs.

This wallet runs on the Cardano protocol and appears a bit like native to the network. However, I can’t run on a mobile OS like Android or iOS devices, though this might be possible in the future.

Errors and Fixes

Daedalus Wallet is still fresh and green, and that means it still needs to be updated and enhanced. Issues around transactions' timestamps being incorrectly represented, errors in transaction history, delays exhibiting transactions and nodes not launching have been fixed.

Is Daedalus Wallet Worth Using?

Whether your PC runs on Windows or Mac OS, this wallet can safely run on your device. As for its genuineness, it is 100% trustworthy and reliable given that it is directly linked to the developers of Cardano. You can download it directly from https://daedaluswallet.io/.