When using cryptocurrencies the thing you ask yourself is — how should you store your coins properly? And Monero, the coin whose main advantage is the complete privacy of all transactions, is no exception. You’ve got a variety of choices when it comes to XMR wallets: you can store everything offline, using hardware options. There are some smartphone apps, which are really easy to use, online browser versions of wallets, desktop offers and even a paper variant if you like it old school-ledger type. So what are the best Monero wallets? Which will provide the most security? Are there different budget offers? ChangeNow will try to find out these things for the readers of our blog.
Top 11 Monero wallets list
1. Ledger Nano X or Ledger Nano S
2. Trezor T
3. Monero GUI
10. Paper Wallet
Ledger Nano offers two different price-range devices, hardware wallets — Ledger Nano X and Ledger Nano S. What is the difference? The X model is a bit more pricey, but it has Bluetooth so it is compatible with iOS and Android devices. The S model supports only desktops (Windows, Linux, macOS) and Android. Also, S is fully offline, though, Ledger assures that X is even more secure. Both of them support a lot more coins, that you can store at the same time.
Trezor Model T is another hardware option. It may be a bit complex, but it is a great way to store your coins. Note that Trezor One does not support Monero. It offers backups, some cloud, and microSD card features, premium support and it’s made in Europe. Hardware wallets are a great way to store crypto because no one will ever steal or hack your account. And even if evil-doers get a hold of such wallet, they still won’t be able to access your coins without some form of password. So it is the safest way surely. Not the cheapest one, but hey, what’s your price for security?
Monero GUI is the official desktop wallet from Monero developers. It is really hard to come by, so only advanced users will be able to use it. Also, you need to download full Monero blockchain and synchronize it, because GUI is a full-node wallet. And it weighs about 70GB. It offers XMR mining, supports Windows, Linux and macOS. But there are easier ways to store your coins, we suppose.
Monerujo is an open-sourced Android app with some almost unique features. It is lightweight, allows you to use remote nodes or running your own. You can create multiple wallets and run them at the same time, move funds back and forth between them. There is QR code scanning, so you won’t make mistake typing long addresses and hash sums. And its uniqueness lies in the feature of paying Bitcoin addresses via XMR.to service. The exchange takes place in the background, but you can seamlessly pay BTC addresses with Monero, meaning using all of XMR privacy. It is neat. Again, it’s great for storing a small number of coins, because nothing beats a hardware wallet when it comes to the security of your funds. But is free and lightweight and all-in-all quite great.
Cake is like the last one, but only for iOS. It is even simpler, also open-sourced, and a good option for, say, iPhone users. Here you can create multiple wallets too, use Face ID, and store all of your private keys (which are stored only on your device). The main feature of Cake maybe its built-in exchange with other cryptocurrencies. And because of Apple’s policy towards root-accessing, Cake is actually very secure and can compete with some desktop and browser wallets in confidentiality matters.
You can use Coinomi either on your PC or on your mobile device. It is easy to use, secure, you can manage and exchange about 125 cryptocurrencies and a lot more tokens. It was found in 2014, so it is the oldest multi-chain wallet available, and it has never been hacked, so you can trust Coinomi to store your XMR, and sleep tight.
MyMonero is another official XMR wallet, first presented as a web browser wallet, now available as a desktop version for macOS, Linux, and Windows, and as a mobile app for iOS. It does not currently support Android devices. It is managed by one of Monero core developers and is one of the easiest ways to store your coins. It doesn’t run a full node, has open-source, which is approved by the community. But it’s a good option, only for those who seek fast and hassle-free transactions. Because when transferring data online especially using convenient browsers like Chrome or Firefox or whatever suits you, you endanger yourself, become more vulnerable. So we advise spending a bit more time to sort out the privacy options of all wallet choices.
Freewallet started off as an android app in 2016, but now it also has an iOS and desktop versions. It has support for more than 100 assets, you can purchase crypto with a credit card, exchange between all supported assets and track transactions in real-time. As the name stands — it is free. It is also highly secure and user-friendly. So be sure to try this one.
Infinito is another multicurrency solution. It offers an online wallet as well as iOS and Android apps. With 15 blockchains and +2000 tokens, Infinito becomes a great and profitable platform. The transactions are fast and really secure, and you can make them even faster if you’re willing to pay a bit extra. You control the private keys, so the privacy here is great too, there are none reports of hacking here neither. You should definitely check Infinito because its team is really trying to make it a perfect experience.
And last but not the least is offline paper wallet for Monero. Simply, it is a random address generator. You can use it to create 2 QR codes as well as 2 private keys, and store it in your memory (if you have enough neurons to remember 25-words phrase), or on a piece of paper, at the airplane graveyard, or in a cave, or practically anywhere. It is not very convenient, and hardware solutions may be better, but security-vise this method is as good Ledger Nano and absolutely free.
Thus, there a lot of ways to store your Monero. Some are faster than the others, some are more easy-to-use, some have unique features, and all offer different security levels. You should choose according to your preferences and needs. Either you operate with a small amount of coins and don’t need to think too much about privacy, or you are serious with your XMRs and operate with larger sums and should be checking hardware wallet options, the choice is always yours.
Originally published at https://changenow.io on January 27, 2020.