What is Monero Wallet?

Monero is a special kind of digital cryptocurrency system, which uses cryptography to ensure that all the transactions remain untraceable. Monero was created in 2012 and its a fork of the Bytecoin blockchain, which was initially named Bitmonero. Monero is going to experience an upgrade in its network which would help promote further decentralization, wherein they have planned to replace Cryptonight algorithm with RandomX, a new Proof of Work algorithm.

The best part about Monero is that it is fungible and you have complete control over your currency and transactions. Monero has no pre-set size limit like Bitcoin has, that means malicious miners can clog up the system with disproportionately huge blocks. Being anonymous, Monero wallets need to be determined after considering several factors.

One of the confusing thing about Monero is that it has multiple keys but the other thing overpowers its cons is its transaction unlinkability.

Click here to buy Monero in just 3 clicks

Monero (XMR), is currently ranked in the top 14 cryptocurrencies according to the market capitalization. Let’s check out the top Monero wallets in 2020.

List of Top 10 Monero Wallets in 2020

The top 10 Monero wallets in 2020 are:

Exodus Wallet

Ledger Nano S

Guarda Wallet

Monero GUI Wallet

MyMonero

Edge Wallet

Coinomi

Monerujo

Cake Wallet

Monero Paper Wallet

#1 Exodus Wallet

Exodus is a multi-currency hot software wallet, which includes a portfolio tracker and built-in cryptocurrency exchange. Exodus supports more than 100 cryptocurrencies including Monero. It is available in a variety of operating systems like Mac, Windows, and Linux. It has even integrated with the Trezor hardware wallet, which enables anyone and everyone to use the Exodus interface to view and transfer funds held on their hardware wallet.

Click here to access Exodus wallet

#2 Ledger Nano S

Monero Wallet Ledger is one of the most versatile and popular hardware Monero wallets, that acts as a USB device, that can get plugged into any device via USB port and supports a wide range of cryptocurrencies like Monero, Stellar, Ripple, Ethereum, Bitcoin, Litecoin, Ethereum Classic, and many more altcoins.

Security is what it makes this wallet fall into the top Monero wallet category. It includes 2-factor authentication, a secured PIN code, and recovery seed accessibility.

It has a built-in OLED screen, where you can check the transaction details with a double-tap button. Rather than actually storing your currency, the Nano S tracks your XMR holdings on the blockchain.

Click here to access Ledger Nano S

#3 Guarda Wallet

Guarda Wallet is a custody-free, multi-currency wallet for over 45 blockchains and thousands of tokens. The storages come in Web, Desktop, Mobile (iOS, Android) and Chrome Extension versions. The coins that Guarda supports include Bitcoin BTC, Ethereum ETH, Bitcoin SV, Monero XMR, Zcash (Shielded transactions are supported, too), Dash, Ethereum Classic and more. The extended functionality of the wallet also allows built-in exchanges, purchases, selling cryptocurrency for fiat and operating with Ledger hardware wallet. Staking, delegation and more currency-specific features of supported blockchains are also there for Guarda users to try out.

Guarda is secure, as it does not store any personal data of the clients – all the wallets are non-custodial, with backups encrypted and stored on the user's device. From the point of safety, coin and feature support as well as versatility, Guarda is one of the best cryptocurrency wallets on the current market.



Click here to access Guarda wallet.

#4 Monero GUI Wallet

Monero Wallet GUI is Monero’s official desktop client, which is available for Windows, Mac, Linux and a range of other operating systems. It is a full node wallet, where the syncing and downloading process takes some time, making it one of the best Monero wallets windows. It is available in Ubuntu version, actually one of the best performed Monero wallet Windows in use.

It's relatively easy to use for traders with little or no experience. It has a simple interface where it’s easy to send and receive XMRs.

Click here to access Monero GUI wallets

#5 MyMonero

MyMonero is one of the best Monero online wallets for Monero (XMR), which is easy and convenient to use. Managed by Riccardo “fluffy pony” Spagni, a member of the Monero Core Team, MyMonero provides secure, hosted Monero accounts.

It is a hassle-free web-based Monero wallet, which has a straightforward and intuitive interface, where you must know how to create Monero wallet, which is predominantly easy. You have to log in with your 13-word long private log-in key, which you must keep in a safe place. MyMonero wallet download link is available below.

Click here to access MyMonero

#6 Edge Wallet

Edge wallet is one of the most prestigious multi-currency wallets, which can be used even by beginners. You can buy, store and trade multiple cryptocurrencies in a single app, where you are in total control over your private keys. Edge is focused on user privacy and security, hence they adhere to cutting edge technology where the users can have secure access with just a PIN or touch ID.

Click here to access Edge Wallet

#7 Coinomi

Coinomi is one of the oldest multi-platform, multi-chain cryptocurrency wallets available, trusted by over 2.5 million users. It is a Hierarchical Deterministic wallet that offers native support for over 125 blockchains and 1770 tokens and implements the strongest standards of security and privacy. It supports multi-seed setups, and each seed phrase can have its own encryption settings, according to its use case. No user data are ever collected by Coinomi, while users' IP addresses are obfuscated for total privacy. Coinomi was one of the first wallets to offer native segwit for BTC and 14 more blockchains, and users can switch between native segwit, compatibility, or legacy address formats with the click of a button. Users enjoy full control of their transaction fees and UXTOs in Coinomi while its UI is hailed as one of the most intuitive in the space, suitable both for first-timers and advanced users. Coinomi is translated in over 25 languages and boasts 175 Fiat representations as well.

Click here to access Coinomi Wallet

#8 Monerujo

Monerujo is a lightweight Monero wallet that uses remote nodes to synchronize to the Monero blockchain. It’s an open-source wallet where all of your private data is stored on your device.

The app’s user interface is presented in a simple way and easy to get used to. Some of the prominent features of Monerujo include the ability to manage multiple wallets as well as QR scanning for sending and receiving XMR payments, making it one of the best Monero wallet android.

Click here to access Monerujo

#9 Cake Wallet

Cake wallet is one of the best wallets for iOS users, wherein it is considered as one of the safest options. You can exchange your Monero holdings for different currencies through Cake wallet. The best part is that you are in charge of your private keys, and you can control it. It is safer than most of the desktop wallets or web wallets. As iOS restricts root-level access, which is inbuilt, it makes it more secure than other wallets. The code is completely open-source and gets audited by the community on a periodical basis.

Click here to access Cake wallet

#10 Monero Paper Wallet

Monero Paper Wallet contains two QR codes and two keys, wherein one QR code helps you to generate a public Monero wallet address and the other QR code contains the private key.

A paper wallet is stored in a proper way is one of the most secure wallets, wherein there are no risks of getting hacked or getting stolen.

Click here to generate Monero Paper Wallet

FAQs On Monero Wallet

1. How to access Monero wallet?

You can go here to understand how to access the Monero wallet.

2. What is the best Monero Wallet?

The above-mentioned wallets are the top Monero wallets, which you can choose as per your feasibility and requisition.

3. Can I store Monero on Trezor?

Yes, you can store Monero on Trezor Model T, not Trezor Model One.

4. Can I store Monero on Ledger Nano S?

Yes, you can store Monero on Ledger Nano S.

5. How do I get a Monero wallet?

You can get a Monero wallet by clicking on any of the links- just make sure it is compatible with the device you are looking for.

6. Is Monero GUI wallet safe?

Monero GUI wallet is relatively secure, as users have complete control of the private keys.

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