What is Namecoin?
In this post, we will talk about “5 Best Namecoin (NMC) Wallets for 2018”. Cryptocurrencies are simply digital currencies, and Namecoin is one of the most popular kinds. Namecoin is an alternative cryptocurrency based on the same code as Bitcoin. It is based on the code of bitcoin and uses the same proof-of-work algorithm. It is also a completely decentralized and anonymous digital currency, and as a bonus, it helps to improve security and stop Internet censorship. Limited to 21 million coins, Namecoin (Symbol: ℕ or NMC) gets to store data within its blockchain transaction database. Namecoin transactions are handled by the peer-to-peer network without any centralized administration like the government, and this is one major feature all by itself. Also, it is great for investing money. Even experts consider it to be one of the most protected and secure cryptocurrencies. Related reading, see: (The 5 Most Important Altcoins Other Than Bitcoin)
How Namecoin transaction works and Namecoin wallet
NMC, as it is popularly called, has tons of advantages. It is censorship-resistant, allows you securely transfer arbitrary names (keys) and attach values (data up to 520 bytes) to the keys as a user, has its transactions confirmed in a separate blockchain database, and so much more. While it is a cryptocurrency that functions much like Bitcoin, the truth is that NameCoins themselves were not designed to be used as currencies. However, this is part of the reason it is unique today. It serves both as a virtual currency system and also a domain registration system. To enjoy the wonderful benefits of Namecoin, you first need to have a safe and secure Namecoin wallet with which you can trade with. Here are some of the best Namecoin wallets available to you as a potential user.
Top Namecoin Wallets
Namecoin-wallet Wallet is simply a free online Namecoin wallet that you can use to make worldwide payments at no costs at all. Being that it doesn’t function as a bank, you get to have full retention of your money. Specifically created for Namecoins, they make paying with Namecoin easy and secure on both your phone and your desktop. Asides from the clear advantage that you get to make worldwide payments for free, you enjoy the full benefits of using Namecoins including the safe registration and transfer arbitrary names (keys), no censorship, trading and transacting with the digital currency (NMC) and so much more.
Official Website: Namecoin Wallet – NMC
KeepKey, on the other hand, is not just one of the usual Namecoin wallets. It also works with bitcoin and other possible cryptocurrencies. This hardware wallet secures bitcoin, Litecoin, Dogecoin, Dash, Ethereum and, of course, Namecoin. Your assets are protected from hackers and thieves, and they give you their word. Keepkey is a cold wallet unlike above where we have an online wallet, and it generates the private key using its hardware-based random number generator, together with the randomness provided by your computer.
As soon as you have generated the private key that would allow you transact safely, you get to write down a backup of your KeepKey in the form of a twelve-word recovery sentence. Your private key is stored securely on your KeepKey, without ever leaving the device. Interestingly, KeepKey works on PC, Mac, Linux, and Android devices.
Official website: Namecoin Wallet – KeepKey
Trezor hardware wallet
Another top hardware wallet that works perfectly for Namecoin is Trezor. Asides being one of the best Namecoin wallets, it is one of the best wallets overall for other forms of altcoins and cryptocurrencies. If there is anything major that Trezor is known for, it is user-friendly design. It has a very easy to understand user interface, and It generates 24 words recovery seed, and nine-digit pin which can be used for recovering the private key in case device is broken or stolen. A downside to this cold wallet is the price. It is higher than most as it is currently $99. If you didn’t already know, Trezor happened to be the first cryptocurrency hardware wallet come into existence. Today, it comes with an OLED screen and can be used for password management, document signing, and so much more.
Official Website: Namecoin Wallet – Trezor
Vircurex, which is really just short for Virtual Currency Exchange, is a Namecoin wallet that allows you store and trade your Bitcoins(BTC), Namecoins(NMC), Litecoins(LTC), I0Coin (I0C), IXCoin (IXC), Terracoin (TRC), Freicoin (FRC), Feathercoin (FTC), Primecoin (XPM), Worldcoin(WDC), Dogecoin (DOGE), PeerCoin, and a few more cryptocurrencies. It provides wallets for everybody! This wallet allows you track the process without refreshing the website continuously. Their customer service is said to be one of the best, and you get the best offer if you cancel your option order – your fees are returned to you. It is worth a shot.
Offical Website: Namecoin Wallet – VirCurEx
Last but not the least, are the Coinomi wallets. Another multi-coin wallet, Coinomi provides ease of service, convenience, security, and much more compared to the many other multi-coin wallets around. This one has a big advantage though – it allows users to store multiple cryptocurrencies in one place! In essence, it is not just a platform that can be used to store altcoins, but one that can store different ones at the same time. It allows for one app, multiple altcoins, and easy spending/transferring in a portable fashion. It offers high-end security (HD) to the masses with their multiple cryptocurrency wallet apps on Android devices (the iOS is coming soon).
It covers everything from Bitcoin, Blackcoin, NuShares Cannacoin, Neoscoin CanadaeCoin, Clams, Dash, Digibyte, Digitalcoin, Dogecoin, DogecoinDark, Peercoin, Jumbucks, Litecoin, Monacoin, Namecoin, NuBits, Reddcoin, Rubycoin, and a few more. As you would expect, Coinomi wallets offer security on a very broad level. HD security wallet offers, even more, security by acting as a single wallet but hiding the addresses using multi transfers. This feature allows you keep a record of the blockchain, while also functioning as a regular cryptocurrency address where coins can be sent and received with a singular wallet.
A very important Namecoin wallet that is worthy of mention is the BTC-E Namecoin wallet. However, they are not on this list because the site had been taken over by the government or moved just recently. The site hasn’t resurfaced yet, but they were the biggest name in Namecoin wallets a while back.
Our Other Wallet Guides:
- 10 Best Ripple (XRP) Wallets (Comparison)
- 10 Best Litecoin Wallets (Security/ Fee – Reviewed)
- A Review of the Best Bitcoin Wallets
- Top 5 Zcash Wallets
- 10 Best Ethereum Wallets (Comparison)
- Best Bitcoin Wallet (10 Online, Hardware & Software Wallets)