Excuse my ignorance, but I can't seem to find an answer from the internet.
If NXT is a decentralized currency, why do I need to download their client to store my coin? That doesn't feel safe to me.
For example with Bitcoin,Monero,Litecoin, etc I can generate a random wallet and put it in cold-storage, but from what I understand NXT wallets are only stored online?
Am I missing something here?
In Bitcoin you use a wallet.Dat file, which in essance is a file that holds a passphrase, like you would use in nxt.
You can generate offline nxt accounts just like you would bitcoin, using
http://jnxt.org/vapor the vapor wallet.
Nxt is just as decentralized as bitcoin or any other altcoin, imo it's more decentralized, but that's another topic.