Monero is one of the most popular anonymous cryptocurrencies due to its high level of security, privacy, and advanced technology. Today we’re about to consider the best types of crypto wallets for the safe storage of XMRs. Thus, you’ll know exactly where to store Monero. Let’s get started!
Where to Store Monero Coin: Monero Web Wallet
Where to store Monero coin? Well, similar to myetherwallet.com, there is also a web wallet for Monero. You can access it at wallet.mymonero.com You have the option of creating a new wallet (‘Create a new wallet’) or accessing an existing wallet. When creating a new wallet, it’s important to save a passphrase in a safe place. This is vital as losing this passphrase would mean losing access to your funds.
When accessing web wallets, you should always be careful. Whether the Internet address is fake or not. Whether the local device is infected with viruses or not. With the former, you should always take a look at the lock next to the address bar, which shows whether the connection is secure. For the latter, a good antivirus should always be kept up to date. So, where to store Monero coin? Well, if all necessary measures are taken, a web wallet has the advantage that it can be used easily regardless of platform.
Where to Store Monero Tokens: Monero Desktop & Mobile Wallets
Where to store Monero tokens? Are there any other ways? Of course, there are still plenty of them. Let’s consider all ways left in detail!
Desktop Wallets
As the name implies, desktop wallets are wallets for desktop computers. These are available for different operating systems. The web wallet mentioned above, mymonero.com, also offers a desktop wallet for Windows, iOS, and Linux. Monero GUI is the oldest and best-known wallet for Monero where to store XRP’s on desktop computers. You can operate a local node (load blockchain) or connect to another node. Mobile Wallets
Where to store Monero tokens on smartphones? Well, there are several Monero wallets for mobile devices. For iPhone, we recommend the Cake Wallet. It offers special functions such as face recognition and an integrated exchange to swap XMR for BTC, DASH, LTC, ETH, and BCH.
Monero Where to Store: Monero GUI Wallet
So, Monero where to store it? How was mentioned before, Monero GUI is an official wallet for storing Monero (XMR). It’s a full node wallet which means downloading the entire blockchain and uploading it to your computer.
Key Pros
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- Hierarchical deterministic wallet. Wallet recovery is possible with a Seed key — at Monero GUI it’s a 25-word phrase.
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- These are the type of thick wallets that are the safest ones for storing.
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- The ability to create ‘cold’ storage of funds in the advanced functions of the wallet.
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- The ability to mine coins directly from the wallet. We’re talking about solo mining, which isn’t very effective in the current reality. But the opportunity itself is unique, such an implementation is difficult to find among functions of other wallets.
Key Cons
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- Long-term blockchain synchronization. With a low internet speed, synchronization may take several days.
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- Objectively, there aren’t any more serious disadvantages.
Where to store Monero? What other ways do you know? Feel free to share your knowledge in the comments!
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