The main purpose behind Monero (XMR) is the enhanced privacy feature. It promotes anonymous, secure and fast transactions. If you already own Monero (XMR), or looking to buy this digital currency, you need to find the best Monero wallet. However, you need not to worry because today, I’m going to highlight and discuss the salient features of various best Monero wallet. So, let’s start our journey.
Monero GUI Wallet (desktop best Monero wallet)
It is the official Monero (XMR) wallet for consumers. This desktop wallet comes up with all the necessary features to handle this digital currency. It is compatible with Windows, Linux, Mac and other several operating systems. It is perfectly created to allow users to easily interact with their XMR holdings.
As a full-node wallet, the downloading and syncing process for the GUI wallet does take a while. It also consumes a good space on your hard drive and intakes a significant amount of energy. As a result, it may not be feasible for many consumers of crypto coins.
But after the completion of synchronization, anyone with a little bit of crypto currency experience can use it. Management of funds, receiving and sending is quite simple and convenient. However, if you’re a crypto newcomer, you may find this option a little complicated and may want to look into one of the other wallets available
MyMonero (web best Monero wallet)
It is yet another best Monero wallet to store XMR. It is a great option for a user looking for a simple and easy-to-use web Monero wallet. It is managed by Riccardo “fluffypony” Spagni, a member of the Monero Core Team; MyMonero provides secure, hosted Monero accounts.
If you don’t want to run the full node and yet you want to enjoy an attractive and intuitive interface, it is the right option for you. You just need to create a 13-word private login key to develop your account. The creation of account just takes few seconds. It must be remembered that your private keys are never stored on the Monero servers. In this way, you enjoy an increased level of security and peace of mind.
While this is a fast and user-friendly option, the main downside with web wallets is that you’re exposed to security risks. If you want to store large amounts then you must look for alternative options because online web wallets are always at the hacking and malware threats. Simply, if you’re looking to store your XMR for the long term, you should consider a cold wallet.
Monerujo (mobile best Monero wallet)
If you want to manage your XMR from the palm of your hand, it is the best Monero wallet available. This is a light wallet Android app that uses remote nodes to synchronize to the Monero block chain. All of your data is stored on your device. It is an open-source mobile wallet.
The user interface is quite attractive and handling of this mobile wallet is also convenient. Some of the key features of Monerujo include the ability to manage multiple wallets as well as QR scanning functionality for sending and receiving XMR payments. You can also use the XMR to pay any BTC address from Monerujo.
The only downside is that it is not available for iOS devices and the company must look to address this issue in the near future.
IOS Cake Best Monero wallet
As a manner of fact, it is the only iOS wallet where you can store XMR. Due to the fact that Monerujo is not available for IOS users, the Cake Wallet is a great alternative. It is a great choice to store, send and receive digital funds. In addition to that, you can create multiple accounts and transact the digital money in between them.
As far as the security is concerned, your private keys are stored on your device and not on the wallet or third party server. You need not to download the entire block chain to use this best Monero wallet. This IOS wallet has not received the same amount of adoption by Monero users in comparison with Monerujo, but reading reviews online, the wallet seems to offer a similar high-quality experience.
As of December 2018 Ledger Nano S lunched Monero Wallet, the only hardware wallet available in the market for Monero
Ledger Nano S the best Hardware Monero wallet
Install the Monero app on your Ledger Nano S to manage XMR with the with the Monero wallet. The Monero app is developed by Ledger in collaboration with the Monero community. The Monero wallet is built and supported by the Monero community.
Step by step instructions on how to install best Monero wallet.
Tips to safely store XMR
Conduct a thorough research
Before finalizing the best Monero wallet, you must conduct a thorough research. You must look for a credible wallet and research about the provider. You must look for a credible team behind the wallet.
Offline storage is the best option
While selecting the best Monero wallet, you must try to find a solution that offers private key storage on your own.
Create strong passwords
Strong passwords have the paramount importance as far as the security of your online funds is concerned. Don’t be lazy and pay special attention to create strong passwords and pin codes.
Look after your private keys
Remember that your private keys are crucial – without them, you can’t access your crypto funds. With this in mind, make sure to safely store your private keys and never share them with anyone else.
Make sure a strong protection
Before installing a wallet, you must install anti malware and antivirus to keep your system protected against the scamming and hacking attacks.