Mist Wallet Review: Is it safe enough?

/Mist Wallet Review: Is it safe enough?

Mist Wallet Review: Is it safe enough? 2018-04-06T12:18:07+00:00
Mist Wallet Review: Is it safe enough?

Mist Review

Quick inner navigation:

  1. What is Mist?
  2. Is Mist Safe?
  3. How to use Mist?
  • The cryptocurrency market has been very active in the recent years leading to the emergence of new blockchain technologies. Ethereum is one of the most notable platforms in the market that offer wallet services. Ethereum runs smart contracts that have no possibility of third party-interference, fraud, censorship, and inactivity. Digital wallets were introduced in the market to serve as market caps, and a perfect example of such wallets is the Ethereum Mist Wallet.
  • A digital wallet allows an individual to quickly and easily complete online transactions in a secure manner and at the same time store digital currencies. The wallets are based on blockchain technology that does not require a bank. Third parties such as hosting services, government or banks are no longer necessary with the introduction of the blockchain.  
  • Users must have the wallet in to order send, accept or store ether. Digital wallets ensure that customer coins are safe, and it is important to select a reliable wallet in order to secure your funds. The Mist wallet allows the user to be in full control of their transactions and funds. It is difficult for a user to be in control of their funds when their transactions involve a third-party.
  •  It is interesting to know that users are guaranteed two wallet solutions with the Mist wallet. The solutions include t the multisignature wallet solution and the simple wallet solution. The Mist wallet is meant for ethereum users that may be interested in creating a simple wallet that can enable them to complete their transactions at minimum risk.

Moreover, Mist has a user-friendly interface that makes it more appealing and easy to use. Mist can be downloaded manually onto a computer by desktop clients and that is why the wallet is very popular among ethereum users.  The Ethereum Mist Wallet also comes with extra security as it is one of the few multisignature wallets in the market.

The Mist wallet has undergone some changes in the recent past to improve its usability and that is why it is advisable to download the latest versions or releases. This article will provide a comprehensive mist wallet review that will offer some useful insights for Ethereum users. Some of the critical questions that will be answered in this review include?

  • Is mist legit?
  • Is Mist safe?
  • Can I trust Mist?

What is Mist?

  • Mist is a desktop wallet that is available for Windows, Mac OS X, and Linux.
  • The company is located in Zug, China.
  • Mist was developed in 2017 by Ethereum creators.
  • The Mist wallet is supported worldwide under the Ethereum blockchain technology.
  • Mist is a multisignature wallet that can only work when connected to an Ethereum node that is fully synced.
  • Mist has no limitations when it comes to storing and withdrawing.
  • The wallet only supports Ether and ERC20 tokens.
  • Users must have a strong password for accessing their accounts.
  • The fee for sending 1.00 Ether is 0.00042 Ether.
  • The wallet provides fast exchange straight from the wallet.

Is Mist Safe?

  • Community Trust

The Mist wallet is trusted among the community due to its enhanced security and the fact that the user has complete control over their funds. The user-friendly interface makes the wallet easy to use and that is why the wallet has been receiving positive reviews from the ethereum community.

  • Security

Users that require extra security have a multi-signature wallet that can be accessed at any given time. As the official Ethereum wallet, it is always safe to download the wallet on your computer for you to control your funds. The fact that this is not a third-party wallet makes it more secure as compared to other solutions.

  • Customer Support

The wallet service has excellent customer support for both new and existing users. Most Ether Exchanges have guidelines on how to download, create, and use a Mist wallet as one of the many available Ethereum wallets. The Ethereum blockchain platform has an open chat available for users to ask important questions about the Mist wallet.

  • Handling Speed

The Mist Wallet has some impressive speed when it comes to completing transactions for users. In fact, one can instantly send or accept ether. The wallet continues to receive positive reviews when it comes to the issue of speed.

How to use Mist?

The following are some important guidelines on how to use the Ethereum Mist wallet;

  1. Go to https://github.com/ethereum/mist/releases
  2. Select the latest release of the mist wallet and download it on your desktop.
  3. Install the wallet on your computer.
  4. Come up with a strong password to protect your account.

To send ether via the mist wallet, one has to;

  1. Select the SEND option.
  2. Put in the receiving party’s address.
  3. Select the amount of ether.
  4. Send ether.
  5. Put in your password.
  6. Go to the latest Transactions section under wallet overview to see all transactions.

Mist Review Summary

Mist is considered as the official Ethereum wallet that allows users to send, store, or accept ether.  When using the wallet, it might take some time to get the initial sync but this is common among most digital wallets.

The advantages of using Mist include:

  • The user has complete control over their funds.
  • It has enhanced security.
  • User-friendly interface.
  • Offers both multisignature and simple solutions.

The disadvantages associated with the Mist wallet include:

  • Users have to download the entire Ethereum blockchain.
  • Synchronization might be delayed hence making it difficult to track transactions.
  • It can lead to loss of fund due to delayed syncing.
  • Not as safe as Hardware wallets.
  • The need for extra free hard disk space for synchronization.

The Mist wallet is suitable for both experienced users and beginners. The synchronization process might take some time but things begin to flow after the initial sync. Therefore, the mist wallet is worth considering based on its enhanced security and convenience.

We hope this Mist review managed to help you to have a better idea about this wallet.

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