Best Monero Wallets
The demand and popularity of digital assets have skyrocketed since the inception of cryptocurrency. There are plenty of cryptocurrency platforms that facilitate trading in the market. Monero is a decentralized cryptocurrency that provides state-of-the-art security in trading digital assets. It is secure digital cash operated by users’ networks. All the transactions that occur in Monero are confirmed through distributed consensus and later recorded on the blockchain. There is no third-party involvement, which makes Monero a completely safe environment. Here is all that you need to know about how to view Monero wallet, how to Monero generate wallet, local Monero, Monero wallet synchronizing, and so on.
What Types of Monero Wallets Are There?
There are various types of wallets for storing Monero, including Monero hardware wallet, software wallet Monero, Jaxx wallet Monero, mobile wallets and more.
Just like any other cryptocurrency platform, Monero requires a wallet to safely store tokens. You need to search for a Monero wallet online that can provide you with all the features to safely store coins. There are Monero wallets for both Android and iOS. It is important to note that Monero wallet offline is also a great option to consider. Take a look at all the options available to you below:
Ledger Nano S
This is a hardware wallet that was launched in 2019. Monero WalletLedger Nano S offers a wide range of features and it looks like a small flash drive with an OLED screen. It is a hardware wallet with advanced security features like two-factor authentication, PIN code, and recovery seed accessibility. All the private keys are even preserved by the secure chip. It is important to understand how to store Monero on Ledger Nano S. This HD wallet supports 700+ cryptocurrencies. Monero on Ledger Nano S has a lot of capabilities that are useful for transactions. With its Ledge Live App, you can check your fund balance and transaction details in real time.
If you are looking for a suitable Monero wallet for Android,Monerujo may be the right fit for you. It is one of the lightweight open-source wallets you can find in the market. The simple user interface makes this wallet even more popular among users. It was the first Monero app wallet to manage your Monero. With this wallet, you can even make multiple wallet accounts. It has a QR feature that prevents any risk of copy-pasting addresses. Users simply need to scan the QR code to receive and send funds. Otherwise, you can use a Monero address generator to send funds.
- QR feature
- Pay any BTC address
- Set up multiple wallets
- Only for Android
Known for its user-friendly interface and intuitiveness,Cake Wallet is an ideal wallet for iOS users. Cake wallet Monero is a multi-lingual cryptocurrency wallet. The easy to operate design provides Cake wallet with a competitive edge against its competitors. It is the only wallet for iOS users where you can get full access to private keys. You can explore built-in exchange for other cryptocurrencies like Dash, Bitcoin, Ethereum, Litecoin, etc. You can also set your transaction speed and set up multiple accounts. And by adding face ID recognition technology, Cake wallet has enhanced its security.
- Multi-lingual wallet
- Set up multiple accounts
- Face ID recognition
- Only for iOS
Yet another easy to use wallet with a sleek and interactive design,Exodus has emerged as a promising Monero wallet for users. Exodus is a reliable cryptocurrency wallet that has been around for quite a while now. Generally, all the crypto wallets are either available for Windows or Mac, but you can use a Monero Linux wallet with Exodus. Monero on Exodus creates new possibilities for the traders by supporting more than 100 cryptocurrencies. Exodus is also popular because of its enhanced intuitiveness and unparalleled design. To strengthen its security, Exodus has been using a password based security system and it offers a 12-word recovery seed phrase.
- Multi-currency wallet
- 100% open source
- Total control of the private keys
- UI and UX crypto apps
- Supports 100+ cryptocurrencies
- Mobile version is better than desktop
Monero Offline Wallet
If you are looking for a paper wallet,Monero Offline Wallet is the right choice for you. It is an offline wallet generator that can be used to create Monero paper wallets. It has a pair of seed and private keys. When you use paper wallets, it is important to remain extra cautious. There are many perks of using a Monero offline wallet if you know what the right way is to use it. The only drawback that paper wallets have today is the lack of storage facility and overly stringent security.
- Generate paper wallets
- Pair of private and seed keys
- Less eliable than the hardware wallets
- Physical storage
One of the best online wallets dedicated to XMR coins isMyMonero. The easy interface makes it seamless and convenient to use, even for beginners. This wallet is managed by Ricardo, who is one of the team members of the Monero Team. Apart from being easy to use, MyMonero is also known for its security. It is also considered one of the safest web wallets out there. The wallet in MyMonero is set up with a 25-word mnemonic phrase that ensures utmost safety for transactions.
- Safety and convenience
- Fast and easy interface
- Secured transactions
- Not open source
It was not until recently thatTrezor started supporting Monero. Generally, the Trezor models do not support XMR. However, Trezor gradually realized that Monero provides an exciting opportunity that should not be passed up. It is not difficult to navigate the features of the wallet, so you can learn the ins and outs right away. Trezor was primarily created to help clients manage their coins, initiate transactions, and monitor their balance. It also allows users to add unlimited public addresses to manage payments.
- Intuitive navigation
- Security features
- Impossible to hack
- Managed only through Trezor Bridge or Google Chrome
Monero GUI Wallet
Official wallets are generally the most optimized wallets because they are tailored to storing the coins of a specific project. Monero brought its own official wallet into the market and it clicked for users right away. It is a Monero PC wallet with a great user interface.Monero GUI wallet has plenty of advanced safety features that make it one of the most robust official wallets out there.
Its interface is user-friendly making it easy for beginners to get the hang of wallet’s features right away. You can use the wallet on different platforms, such as Windows, Mac, and Linux. Another great thing about using the Monero GUI wallet is its enhanced security features. The user needs to authorize their identity for each transaction, and the 25-word recovery seed phrase only further contributes to the wallet’s heightened security.
- Easy and straightforward
- Advanced security features
- Intuitive graphical interface
- Only for Monero coins
Another lightweight wallet that is available in Web, Chrome extension, Desktop, and as a mobile version isGuarda wallet. The wallet can support multiple currencies including Monero, Bitcoin, Ethereum, Lumens, and more. Guarda wallet is famous for its wide range of crypto token management. The simple and intuitive interface makes it a very popular choice among users. The advanced security features are another major plus for this wallet. It does not share users’ private data with others. The transfers and exchanges of funds are much simpler than for any other wallet. ChangeNOW highly recommends using Guarda.
- Easy management
- Wide range of supported cryptocurrency
- ERC2- token generation
- Non-custodial wallet
Which One is The Best Monero Wallet?
Deciding on the right Monero wallet is certainly a challenging task because of the abundance of options available in the market. Each Monero wallet has its distinctive features that make it uniquely advantageous for different kinds of users. It is always better to go with a hardware wallet that is more secure and faster to operate.
The Bottom Line
Without a reliable wallet, you cannot engage in cryptocurrency transactions properly. Monero is a decentralized cryptocurrency platform known for its private and untraceable model. It is crucial for you to select a suitable online Monero wallet to serve your needs. The above post contained some valuable information on Monero wallets that will hopefully help guide you in choosing the wallet that is most suitable for you.