best-monero-wallets

What Are The Best Monero Wallets For Keeping XMR Coins?

Monero (XMR) is currently the most famous private digital currency in the crypto market. It ensures the utmost privacy and security of its users. The Monero blockchain, along with its native XMR, aims at providing the crypto community with transactions that cannot be traced. Just like other digital currencies, Monero also requires a secure digital wallet for storing all the crypto. So in this article, we will be looking at the 10 best Monero wallets that you should consider for 2021. 

What Is A Monero Wallet?

Just like any other wallet, a Monero wallet is a place for storing your Monero coins. Monero is a decentralized digital currency whose main aim is to provide safe and secure transaction options for the users. This Monero (XMR) coin was released more than 5 years ago. 

Since the advent of the first cryptocurrency, the crypto world has gone through many ups and downs that also include the core protocol migration. Now Monero acquired the 15th position in the cryptocurrency market capitalization among all other digital currencies. Tracing back to history, the price of XMR coins has seen a rise from some few bucks to hundreds of dollars. 

Since the total supply of Monero cryptocurrency reached more than 17 million XMR, the size of the Monero community became quite impressive. Monero is considered an important coin among the other giants in the market because of its developer’s commitments to form a safe and private channel for a transaction. 

Criteria Under Consideration Before Choosing XMR Wallets

Before deciding on the best Monero wallets, there are some criteria that you will need to consider. They are as follows:

  • The first thing that you have to consider is security. Generally, hardware wallets are more secured as there is no internet needed, so the chance of your wallet getting hacked is less. 
  • The second thing that you have to consider while choosing among the best Monero wallets is how easy the interface is to use. 
  • The third thing that you need to check is how good is that wallet’s reputation. Go through some reviews before deciding. 
  •  And finally the price of the wallet. After determining all the above criteria, determine the price of each wallet and then choose. 

List Of 10 Best Monero Wallets For 2021

Here is a list of the Top 10  Monero wallets. Go through them and determine the best for you on the basis of the above mentioned criteria. 

Exodus Wallet

Exodus is a multi-currency wallet that has been proving its credibility in the crypto market for almost six years now. The interface of this wallet is just seamless. It is designed with simple UX/UI which enables the users even if they are beginners to work smoothly without any complexity. Exodus wallet supports more than 125 cryptos including Monero. 

This is an online wallet that can be downloaded on both PC and mobile. 

  • Wallet Type: Hot;
  • Supported assets: ETH, BTC, EOS, XMR, ADA, XLM, TRON, USDT, BCH, LTC, DASH, BNB, TOMO, ATOM, etc. 
  • Platforms Available: iOS, Android, macOS, Windows, Linux;
  • Launched On: 2015.

Ledger Nano S and Ledger Nano X

Both Ledger Nano S and Ledger Nano X are hardware wallets that allow 1000+ digital currencies. This storage is compatible with both mobile and PC. Ledger Nano is a small device that is portable that enables you to store your crypto assets with utmost security. This is a USB like device that stores all your private keys and works on a BOLOS (Blockchain Open Ledger Operating System). It includes 2 factor authentication and also a series of phrases called the mnemonic key that will allow you to restore all your data in case of any damage or theft. Technically, a hardware wallet is the safest option to store your cryptos. 

  • Wallet Type: cold;
  • Supported assets: BTC, ETH, EOS, XMR, ADA, XLM, and many more;
  • Available Platforms: macOS, Windows, Linux;
  • Launched On: 2014

Monero GUI Wallet

Monero GUI Wallet is an official and also open source desktop wallet that is available on macOS, Windows, and Linux. 

It is a full node wallet. It requires to be downloaded and synchronized with the Monero blockchain. Do not get swept away by the complex name. Monero GUI uses a pretty simple UX/UI and is suitable for anyone with no prior experience in crypto wallet handling. 

The password in the GUI wallet protects all your cryptos. However, it is always advisable to use a 25 phrase password. 

  • Wallet Type: Hot
  • Supported assets: XMR
  • Available Platforms: macOS, Windows, Linux

Freewallet

Freewallet allows the user to avail instance access to core digital currencies like Bitcoin, Ethereum, Monero, and many more. As the name suggests it is completely free and can be installed on any desktop or mobile device. Along with that, you can use your Google or Facebook account to sign up here. Monero Freewallet allows the user to track their transactions and also keep a record of them. 

  • Wallet Type: Hot
  • Supported assets: BTC, ETH, EOS, XMR, ADA, XLM, TRON, BTG, etc. 
  • Available Platforms: iOS, Android
  • Trustpilot Score: 3.8
  • Launch Year: 2017

Monerujo Wallet

Monero’s official website recommends Monerujo wallet for Monero. It is an open source wallet specially designed for Android Devices. The interface of this wallet is very user friendly and also provides a native user experience. This wallet has an in-built QR code scanner that will save you from entering the long code in the gap. All you have to do is just insert the QR code. 

  • Wallet Type: Hot
  • Supported assets: XMR
  • Platforms Available: Android
  • Launched On: 2017

MyMonero

Among the Monero community, MyMonero is one of the best digital wallets. This was launched in 2014 and its developments were carried out with the core team of MyMonero. This is one of the trusted and decent wallets to store your Monero crypto. 

Since the main aim of the Monero blockchain is to ensure users’ safety and security, MyMonero also tries to serve the same purpose. All the data is strongly encrypted. 

  • Wallet Type: Hot
  • Supported assets: XMR 
  • Available Platforms: iOS, Android, macOS, Windows, Linux
  • Trustpilot Score: 3.9

Edge Wallet

Edge is also a multi currency crypto wallet that supports cryptos like Monero, Bitcoin, Ethereum, Bitcoin Cash, etc. This wallet is available for both Android and iOS and is highly recommended for beginners. This wallet also has 2 factor authentication security and a security code that will be sent to your device every time you log in. .

  • Wallet type: Hot 
  • Supported assets: XMR, BTC, ETH, LTC, XLM, EOS, etc.
  • Platform: Android, iOS 
  • Launched On: 2014

Coinomi

The list of best Monero wallets would not have been completed if this wouldn’t have been there. Coinomi has one of the best security features that include single time data backup during the user’s registration. In this wallet, the currency exchange operation is also carried out by the Changelly platform. These two combinations increase the speed of the currency exchange. This makes the platform better than other wallets that serve only one purpose. Other than that Coinomi also supports other foreign languages. 

So storing Monero coins in a Coinomi wallet will surely bring you peace as you will know that your coins are safest there.  

  • Wallet Type: Hot
  • Supported assets: BTC, ETH, EOS, XMR, ADA, XLM, TRON, USDT, BCH, LTC, DASH, BNB, TOMO, ATOM, etc. 
  • Available Platforms: iOS, Android, macOS, Windows, Linux
  • Trustpilot Score: 4.8
  • Launch Year: 2014

Trezor

Trezor is another popular name in the cryptocurrency storage world. This is a hardware wallet like Ledger that we have already discussed before. Trezor is surely a tough competition for all other hardware wallets like Ledger Nano and BC Vault as this provides access to more than 1000 digital currency and tokens. It also provides a platform for secure storage for all your cryptos. We have already seen that hardware wallets are safer options when it comes to storing our cryptocurrencies as there is no interference from the internet. Trezor can be termed as a perfect example of safety, trust, and availability.  

The reputation of Trezor is almost spotless among the crypto experts and they never fail to provide their users with a seamless experience by updating their devices continuously. The look of the Trezor wallet is also cool and its portability feature makes it more user friendly.   

  • Wallet Type: Cold
  • Supported assets: BTC, ETH, EOS, XMR, ADA, XLM, TRON, etc.
  • Available Platforms: macOS, Windows, Linux
  • Launch Year: 2012 (first Trezor prototype produced)

Monero Paper Wallet

Owning a paper wallet for storing all your crypto is probably the safest option. XMR paper wallet is nothing but a sheet of paper on which the QR code is printed. There are both the QR codes: a private key and a public key. However, there are basic rules to use Monero paper wallets and one should remember them. 

  1. Choose a paper wallet generator of your choice. 
  2. Arrange your computer
  3. Download an offline generator
  4. Generate Monero private and public keys
  5. Print two digital keys
  6. Do not forget to delete the browsing history and also delete the important information from your printer.

Conclusion

Choosing the best Monero wallets is not a big deal. There are few parameters and few features that should be kept in mind while choosing the right Monero wallet. But it is always advised to choose hardware or cold wallet any day over the online or hot wallet. This decreases the risk of your cryptos from theft or damage.

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