You mean "how decentralized is it"
Your phrasing has connotations to it.
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?
Right, Bitcoin is also stored online, you are only keeping the passwords in the wallets.