The central values of the Monero project have been helping it become so popular, and these include especially the emphasis on anonymity and privacy. All transfers within the XMR chain are private, anonymous, and also untraceable. These are probably the main reasons for which enthusiasts are trading their Bitcoin (BTC) or other cryptos they hold into XMR and then back into the respective coin. Such a conversion is able to break the links between transactions, and it’s worth highlighting that trading in Monero always means being an invisible entity within the crypto space.
Here are the best two options for wallets that you can use these days to keep your XMR safe.
MyMonero is a web-based Monero wallet which has been able to enjoy some pretty good credibility along the way. It’s also worth noting that the wallet has been created by one of the original team members of Monero. Anyway, even though this wallet may be the most user-friendly, on the other hand, some might complain that it may not be as safe or as filled with useful features as they would like.
MyMonero is a web platform, and once you are on it, you will have to open an account and manage your XMR via the Internet, and you will need to keep this as secure as possible in the long term.
As you may have already noticed, the fact that you have to set up an account online is most likely the main minus that this service has. As it has already been highlighted various times, anonymity is one of Monero’s main features and benefits that users want to enjoy. This means that this vital purpose is defeated by this need of having to own a wallet that’s linked to an account set up on the web and directly traceable to users.
More than that, users should keep in mind the fact that they should beware of using MyMonero with old wallets because the service will be asking them for a fee to import previous transactions.
This and the fact that you have to rely on the MyMonero service to keep your keys which are showing your transactions private are the main downsides of using MyMonero, and you will have to sacrifice privacy if you want to enjoy the web wallet’s features and benefits. Other than this, the service is speedy and convenient.
You can send and receive XMR on the spot using another Monero wallet, XMRWallet.com. This is the first secure wallet to transact Monero.
The best features that you will be able to enjoy in case you choose to use this wallet include the following: fast transactions, instant account creation, support for more languages, compatibility with MyMonero seed and with original Monero seed, the lack of a need for transaction import, no registration required, no logs and more.
The main focus of this wallet is making sure users benefit from fast, secure, and uninterrupted Monero transactions.
It’s also worth noting that XMRWallet is an open-source service and client-based. The best features of the wallet also include the fact that users don’t have to enter their email IDs, usernames, contact numbers, and any other data that can be used to identify users’ identity.
Making transactions is the most straightforward procedure, and all users will have to do is specify the address and the amount of XMR.
XMRWallet has a dedicated page to customer support where users can contact the developers and offer their feedback. Interested users can also donate to the wallet if they want to.
XMRWallet is our favorite choice, and the only downside would be the fact that there are in constant maintenance. In this case, MyMonero is a viable option, as well.