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What is Magnum Wallet?

Grasping the workings of our wallet is essential, and in this context, we will provide important insights regarding Magnum. As a lightweight wallet, Magnum guarantees that we do not store or collect users' private keys, backup files, or any personal information. This form of wallet is recognized as one of the most secure and trustworthy options for cryptocurrency management. During your usage, you retain full control over your private keys, which are safely kept on your device. These keys are encrypted and saved in your browser's local storage, adding an extra layer of protection. All communications with the blockchain are conducted over an encrypted SSL connection, safeguarding the confidentiality of your transactions. In addition to this, Magnum offers a backup file containing your encrypted private keys, which you should download and securely store. This backup enables you to access your wallets on various devices or browsers. However, to decrypt this file, you will need to input the passphrase you established. It is critical to understand that if you happen to lose or forget this passphrase, recovering your backup file or private key will be impossible. Consequently, ensuring the security of your passphrase is paramount. Remember that taking these precautions not only protects your assets but also gives you peace of mind when managing your cryptocurrencies.

What is Daedalus?

Daedalus wallet is an open-source tool designed for the management of ada (ADA, the cryptocurrency tied to Cardano) and is built to advance in parallel with the Cardano blockchain's developments. This wallet provides a secure platform for storing your ada cryptocurrency, and by downloading and installing it, users can safeguard their assets effectively. As a full node wallet, Daedalus sets itself apart from lighter alternatives like Yoroi and Adalite by fully downloading the Cardano blockchain and independently validating each transaction, which ensures the highest level of security and a trustless experience since it does not depend on third-party servers. Users can conveniently manage several wallets through its hierarchical deterministic (HD) wallet structure, which allows for better organization of their assets. Furthermore, Daedalus includes strong backup and recovery features to assist you in reclaiming your funds if necessary. It is fully compatible with major desktop operating systems, functioning effortlessly on Windows, macOS, and Linux. Users have the option to enhance their interface by applying themes to customize the wallet’s look, which not only makes it more functional but also visually engaging. As a comprehensive wallet solution, Daedalus guarantees that users maintain complete control over their cryptocurrency holdings, making it a preferred choice for many in the crypto community. Overall, its robust features and user-friendly interface make Daedalus a compelling option for both novice and experienced cryptocurrency users alike.

Media

Media

Integrations Supported

Divly
CNFT.IO
Cardano
Cointelli
Koinly
Nami

Integrations Supported

Divly
CNFT.IO
Cardano
Cointelli
Koinly
Nami

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Magnum Wallet

Company Website

magnumwallet.link/

Company Facts

Organization Name

Input Output (IOHK)

Date Founded

2014

Company Website

daedaluswallet.io

Categories and Features

Categories and Features

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