With its price constantly rising as of late, many people are looking for ways to keep their XMR safe in secure storage.
Monero, despite being one of the most popular cryptocurrencies, is not supported by the two major hardware wallet companies:
Ledger claims that Monero is in its roadmap although it is currently not supported in current Ledger devices. TREZOR does not support Monero but may in the TREZOR 2 version coming soon.
Monerujo gives you control over your own private key by storing it locally on your Android device.
When you first start the app you’ll find yourself in front of a man with a monero jacket.
After clicking on the plus button you’ll be able to chose if you prefer to restore a wallet from private keys, from the recovery phrase or create a new wallet. We’ll go over how you create a new one.
After choosing a name for the wallet, decide if you want to be able to unlock the app with your fingerprint (if your phone has a fingerprint sensor). You’ll also need to set a password you’ll see something that looks a lot like this:
You need to write down all of this in order to be sure that you’ll be able to recover your funds if your phone breaks or you lose it. But you also need to store it somewhere safe because whoever has access to these words can restore the wallet.
After you’re done writing down the recovery phrase and all the other important data, click on “I have noted these 25 words”. You will need to wait for the wallet to sync with the blockchain. When the synchronization is over you’ll be finally able to start receiving and sending funds.
In the upper portion of the screen you see the wallet name. Just under it you see the address and right below you’ll see the balance. On the bottom right corner there is a button which lets you receive funds while on the bottom right there is a button to send coins.
Below you can see the interface that lets you receive funds. It contains a handy QR code that lets you receive funds. You can also set the requested amount so the person scanning the QRcode won’t need to enter it.
Sending funds with Monerujo is pretty easy. First, press the “Give” button on the main wallet user interface and you’ll be greeted by a minimal user interface. There is an option to scan the QR code of the receivers address or to set a transaction ID. There is obviously also an option to paste address or manually type the receiver’s address. After that you need to enter the desired amount which you can do both in XMR or US dollars.
When you have set all of that you are given the opportunity to review all the transaction data and make sure everything is right. That’s pretty important because once you sent your XMR there is no going back.
If everything worked the next thing you’ll see after confirming the transaction is a big “Success!” word which takes a big portion of your screen and all the additional transaction data. Congratulation, you have spent your Monero!
MyMonero is the only web wallet for Monero. It is operated and owned by Riccardo Spagni, who is one of the lead Monero developers.
The wallet works like any account. You create an account and can login online to access your funds. MyMonero only encrypts your keys and stores the data on its servers. It cannot access your funds.
The best and only Monero desktop wallet is the official client which is a full node.
It can be downloaded from the official Monero website.
To be honest, we are not sure why. Monero is one of the most popular cryptocurrencies on the market, currently the 10th biggest coin by market cap.
We expect these hardware wallets to support Monero soon. We also expect more Android and iOS wallets for Monero to be released soon since Monero is rapidly gaining popularity, along with other privacy focused coins like Zcash.
You can use moneroaddress.org to make a secure paper wallet. But, this should only be used by people who know what they are doing. It is very easy to mess up using this method.