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9 best Monero wallets (XMR) – Most secure picks for 2020

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The post 9 best Monero wallets (XMR) – Most secure picks for 2020 appeared first on Go Cryptowise.

If you have bought Monero, or you are planning to buy some soon and you are doing your research into the best Monero XMR wallets (good job) then you are at the right place!

Monero, the leading privacy coin needs a safe home. And when engaging with the fellow Monero community it quickly becomes clear that this community wants something different with their Monero wallets.

And their needs makes complete sense. They value privacy, hence choosing Monero. That is true for most crypto investors, but others might prioritise ease of use and simplicity more.

But to acknowledge both sides I decided to have a look at what are some of the best XMR wallets in 2020. For both the privacy-focused users and for those that want to hold Monero but still make it really easy.

These are the 9 best Monero XMR wallets and different wallet types

Hardware wallets Mobile wallets Desktop wallets Web wallets
Ledger Nano X (top pick) Monerujo Monero GUI MyMonero
Ledger Nano S Cake Wallet MyMonero
Trezor Model T Atomic Wallet TAILS (offline generator)
MyMonero

What is Monero?

It is one of the leading privacy coins in today’s crypto space. It is known amongst crypto enthusiasts, traders, and developers for its core privacy features.

As mentioned Monero is a fully-fledged privacy coin by default. Where other coins have privacy-enabled features that users can add on, Monero has all those features built-in and enabled from the start.

Monero is a bit like Bitcoin a pioneer in its own right. It is known for being the leading privacy cryptocurrency.

It’s core privacy features allow you to for example:

  • Keep your balance a secret from others (no one can see your balance or any previous transactions
  • It keeps your transactions hidden (even the ones you send your cryptos to can’t see where they came from – unless you shared that information with them)

Learn more about how Monero works here.

These are 9 best Monero wallets to choose from in 2020

1 ) Ledger Nano X with Monero GUI (hardware wallet – top of the picks)

Ledger Nano X one of the best Monero wallets to pick from

This is the leading hardware wallet brand in the crypto space and here is the next-generation wallet from them, the Ledger Nano X.

It comes with all the popular features that the previous model Nano S had, but with upgraded software which makes the device quicker and more secure.

It also comes with additional support for mobile device pairing, with the Bluetooth feature.

Add to that more storage space and the Ledger Nano X is the perfect hardware wallet for anyone that wants to make sure their XMRs is kept safe.

You can use the Ledger Nano X with most of the world’s cryptocurrencies. It has support for almost every coin and token, including XMRs. And according to us, it is the best Monero wallet.

Why you should go for Ledger Nano X

  1. It is the premier hardware model on the market, there is no one better than the Ledger Nano X
  2. It comes with the full support of cryptocurrencies, best on the market.
  3. It has added storage space and mobile pairing making it easier to use for all your cryptocurrencies and with all your devices.
  4. It comes with added support for privacy as it can be used with other privacy-enabled wallets and applications and the device itself is secure and private

So what you need to use the Ledger devices (Nano X and Nano S) with the Gui is:

  • One Ledger Nano X device with the USB cable (you can get it here)
  • One computer with Ledger Live application (download here)
  • Added Monero application (in the app catalog)
  • Download the software (download here)

To get started with Ledger Nano X and Nano S and Monero Gui:

Download the applications (Ledger Live and Monero Gui).

Add the Monero application (download and install) in Ledger Live.

And then follow the process in Monero Gui from when you click on Create new wallet.

  • We recommend using Simple mode (bootstrap) when setting up your Ledger device with Monero GUI
Ledger Nano S and Monero using Ledger Live.png
Monero Gui dashboard for setting up

2 ) Ledger Nano S + Monero Gui (hardware wallet)

Ledger Nano S an excellent choice for storing your Litecoins

Another option that you have is to store your coins on the blockchain using the Ledger Nano S. The Ledger hardware device is an excellent secure crypto hardware wallet. Which adds another layer of security to storing your Moneros!

And you can combine using the Ledger device by using the Monero Gui software!

There have been some instances where the Monero GUI wallet has been buggy from time to time with the Ledger device. And this is often due to new updates from either Ledger or Monero GUI that is not fully compatible with each other.

Follow the advice above for setting up your Ledger Nano S with Monero GUI.

So what you need to use the Ledger device with the Gui is:

  • One Ledger Nano S device with the USB cable (you can get it here)
  • One computer with Ledger Live application (download here)
  • Added Monero application (in the app catalog)
  • Download the software (download here)

Why you should go for Ledger Nano S

  1. It is one of the most secure crypto wallets on the market
  2. It is a highly compatible wallet, with support for many 3rd part wallets and blockchains
  3. It has one of the best supports for cryptocurrencies, so you can use it for most (if not all) of your cryptos

3 ) Trezor Model T + Monero Gui (hardware wallet)

Trezor Model T

And you can also store your coins safely on the blockchain using in combination with the Trezor device (Model T). Which is a superb hardware device!

The Trezor wallet (One) was the first-ever cryptocurrency hardware wallet, and the Model T is the next-generation device.

You can easily create your own secure blockchain wallet for your XMRs using the secure Trezor device and then use the software.

To get started using the Trezor device with Monero you first need to:

  • One Trezor Model T (you can get it here)
  • Update the latest firmware to your Trezor Model T – you can do it here
  • Download the software (download here)

To get started with Trezor and Monero Gui:

Download the Gui and Create a new wallet – follow the guided step by step process to connect it with your Trezor device.

Monero Gui and Trezor support

Why you should go for Trezor Model T

  1. Like the Ledger, this is one of the most secure wallets to use with cryptocurrencies
  2. It is also very compatible, and Trezor continuously work with other developers and blockchains to make the Model T as complete as possible
  3. It has a great support for many different cryptocurrenices
  • For additional support look at Trezor’s website

4 ) Monero Gui (desktop wallet)

This wallet often comes out as the top-recommended Monero wallets on Reddit by many Monero users.

It is known for being true to what an archetypical cryptocurrency wallet should be. A desktop client with minimal fuss and the option to run your own node from the wallet application.

The Gui is a Graphical User Interface that lets you store your coins easily on the blockchain but also run your node, set up payment options for merchants, and it is compatible with Ledger and Trezor (find out more below at the Ledger section).

And, of course, send and receive coins.

The Gui is available for download to Windows, macOS, and Linux

Why you should go for Monero Gui

  1. You can run your own node from the wallet GUI
  2. You can have complete synch to the blockchain and make sure your transactions are done in accordance to the latest blocks
  3. It comes with an advanced and easier version, so it works perfectly for beginners and more advanced users
  • Download the application here
  • Find out more about the Gui at their GitHub page

5 ) Cake Wallet (mobile wallet)

Cake Wallet popular mobile wallet for Monero

This is a very popular mobile Monero wallet. It comes for both iOS and Android.

On the Cake Wallet, your keys are encrypted and stored on your iOS or Android device (keychain). So make sure you keep a safe copy of your backup phrase in the case of a lost or stolen phone.

To further secure your device you could add touch print and face ID.

Why you should choose Cake Wallet

  1. You have full access to your own keys and seed. The Cake Wallet itself can’t trace or access those.
  2. It is a nice-looking and modern crypto wallet full of handy features. Exchange, more language options, possibility to create several wallets easily and you can also select your own nodes to connect to
  3. It is an open-source project, so you can inspect the code at any time.

6 ) MyMonero wallet (Desktop + web + mobile wallet)

MyMonero wallet

Now, this is another favourite XMR wallet.

It is a nice-looking lightweight cryptocurrency wallet that is available as a web client, desktop (Windows, macOS, and Linux) but also for mobile (iOS right now and Android is coming soon).

With the MyMonero, you don’t need to download the full client like a node needs to.

Instead, remote servers do the work for you. But you can use MyMonero like normal. The only thing shared from your wallet with the servers is your “view key” otherwise it is all kept hidden and private.

Make sure you are using the correct MyMonero wallet site and applications. There have been instances of fake sites and apps to appear which are set out to steal users’ funds.

For the MyMonero wallet there is some information stored on MyMonero about transactions sent via the same lightweight servers.

So technically it is feasible for transactions between two MyMonero users could be traced from the lightweight servers (with access to the view keys).

Now, this is not something that would happen, but technically it could. So something to be aware of for the privacy-crazy users out there!

Why you should go for MyMonero

  1. It is a dedicated Monero wallet built solely for XMR
  2. It is very easy to use and perfect for beginners
  3. It is modern, full of handy features and with a very nice design
  • Download and get started with it here.
  • Download it for iOS here
  • Check out the GitHub page for it here
  • Use the web interface to interact with your coins here

7 ) TAILS wallet (cold storage)

TAILS wallet

If you are not planning to use your cryptos anytime soon you could look into keeping them safely on the blockchain using an offline option, or cold storage wallet.

And one option that you have is to generate safe cold storage via a TAILS setup (“The Amnesic Incognito Live System”).

It basically is an operating system that you could download and run from a USB drive and then in a safe offline mode generate a new Monero wallet. It definitely adds another protective layer to the mix.

You could ask but what about if the computer or USB drive had been tampered with already. And that’s fair, if you are really concerned about it then you could wipe the computer, and/or invest in a completely new one.

The same goes for the USB drive. And never connect either to the internet.

Why you should go for TAILS

  1. It like the hardware wallets is one of the most secure types of Monero wallets
  2. It is perfect for advanced users that enjoy the more complex usage and that wants to dive deep into it
  3. It can help you foster a longterm approach to holding and investing, as you with a cold storage client will limit your daily access to your cryptocurrencies
  • Learn more and download the TAILS system here
  • Get a guide on how TAILS with Monero works here

8 ) Monerujo (Android wallet)

Monerujo Android Monero wallet

Monerujo is an open-source Monero Android wallet. It is built for Monero and for privacy in mind.

It is a nice UI wallet, with anything you need to cover your basic wallet needs. With no added fuss and focus on delivering a simple product for transacting with,

The wallet comes with a built-in QR code scanner, the possibility to pay BTC addresses with the same strong privacy, with the help of XMR.to (privacy-enabled services built for Monero).

Why you should go for Monerujo

  1. If you are mobile wallet fan who’s looking for a good Android wallet this is definitely one of your best picks
  2. It is easy to use and lightweight wallet with no added fuss

9 ) Atomic Wallet (Desktop + mobile wallet)

Atomic Wallet a multi-currency crypto wallet for Monero

Here is another type of cryptocurrency wallet, this is a free multi-currency wallet. That you can use for Monero, but also many other popular cryptocurrencies.

In fact, Atomic Wallet has one of the biggest selection of available support for cryptocurrencies by all wallets.

So if you own more than one cryptocurrency there is a good chance both of them will be supported by Atomic.

The Atomic wallet can be used for your mobile device (iOS and Android) and desktop (Windows, macOS, and Linux).

And you, of course, have full control of your private keys and your wallet with Atomic.

Why you should go for Atomic Wallet

  1. It is a very nice-looking wallet with a slick interface that is easy to use
  2. It has one of the best cryptocurrency support by all crypto wallets
  3. It comes packed with handy features, exchanges, multi-currency support, portfolio tracking, etc
  4. You can still have full control of your private keys with Atomic

Conclusion

I hope that you found this list of top Monero wallets helpful. I think there is something for everyone on this list.

When it comes to choosing a wallet for XMR I’d recommend using the safest possible wallet type. Which are the hardware wallets, and then I’d recommend the latest wallet Ledger Nano X.

It is the top of the pick and premier hardware wallet. And actually is cheaper than Trezor’s top range model. Both are very good, but for the price and value of it, I’d go fo the Nano X.

But there are plenty of other great cryptocurrency wallets for Monero here. With smart and nice-looking mobile wallets. To secure desktop and offline models.

So go for safety and purpose when selecting a wallet.

Other popular guides:

  1. How to buy BTC without ID
  2. The top crypto exchanges
  3. Kraken vs Binance vs Coinbase
  4. Best BTC-friendly banks
  5. NEO vs EOS comparison

Me, Per Englund

Hello and welcome to Go Cryptowise.

My name is Per Englund and I’m a long-term fan and investor of Bitcoin and other cryptocurrencies. I’ve been around the space for a good few years, learning how it all works and to be a part of this engaging community.

Now it’s time for me to share my experience with others. I am also a business and product developer so I know first-hand what it takes to create a successful product, brand and customer experience.

And I am bringing this vision to my writing and how Go CryptoWise work.
Connect with me on LinkedIn. Ask me anything on here.

Get in touch with me to find out more about Go CryptoWise and what we care about.

The post 9 best Monero wallets (XMR) – Most secure picks for 2020 appeared first on Go Cryptowise.

Source: https://gocryptowise.com/blog/best-monero-wallets-xmr/

Blockchain

Brazilian Firm to Launch Blockchain Platform for Promoting Environmental Sustainability 

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Brazil is making some waves in the blockchain and cryptocurrency industry, as it is now joining the ranks of nations applying these technologies for good. While most countries are optimizing various systems with blockchain, however, a company in the Latin American nation is primarily focusing on its environment. 

Eliminating Tree Felling

Yesterday, Reuters reported that JBS, a local meat processing firm, has announced the development of a blockchain-based system that will correct its supply chain system and cut out the participation of incriminating farmlands. 

In July, the Guardian reported that the firm had been in contact with at least one indirect supplier that had been cutting down trees illegally in the Amazon rainforest to grow its pasture size. Fearing action against the company, its chief executive, Gilberto Tomazoni, turned to technology to seek a solution.

Per the report, JBS has recently come under fire for contributing to the illegal deforestation of the Amazon rainforest by doing business with farms that are into the activity. Per the company’s announcement, however, it plans to put a stop to that. The system will improve traceability across the firm’s supply chain system, thus ensuring that no farmlands with illegally felled trees will supply it with meat.  

Speaking with Reuters, Tomazoni explained that they intend to have the system monitor al of the company’s indirect cattle suppliers by 2025. 

“Currently, the company does not monitor indirect suppliers and no company does so. But we plan to close this gap using technology,” the CEO added.

This isn’t the first time that JBS will harness blockchain technology’s power to develop a traceability system. When the coronavirus first hit China last November, JBS Australia – the company’s Australian subsidiary and the country’s largest food processing company, began developing a tracer that would provide “from-paddock-to-plate” data. The system, which was also developed by Sydney-based blockchain startup Lumpchain, uses a wide array of tech concepts – including cloud computing, blockchain, and artificial intelligence –  

 “The end-to-end transparency that this trial is demonstrating has enormous potential for not only Australia’s meat producers — but the entire food chain. For consumers Lumachain’s solution provides the rich information that they want, giving them peace of mind about what they are feeding their family for dinner,” said JBS Australia CEO Brent Eastwood. 

The deal followed a $1.5 billion meat sales deal that JBS Australia closed with Win Chain, a supply chain platform based out of China. While blockchain is finding new use in Brazil, a local finance firm is also making history in the crypto industry. This week, the Bermuda Stock Exchange (BSX) announced that Brazilian fund manager Hashdex had inked a deal with the Nasdaq to launch the world’s first Bitcoin exchange-traded fund (ETF). 

Per the press release, the new fund – called the ‘Hashdex Nasdaq Crypto Index’ – got the required approval on September 18. Hashdex is set to launch 3 million Class E shares on the exchange in a sale that is predicted to happen before the end of the year. 

Speaking to local news source Ogbolo, Hashdex’s chief executive, Marcelo Sampaio, explained that the ETF should advance institutional participation in the crypto sector. Given that many have clamoured for Bitcoin ETFs in the past, this is a monumental move.

Source: https://insidebitcoins.com/news/brazilian-firm-to-launch-blockchain-platform-for-promoting-environmental-sustainability

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Will Uniswap [UNI] Survive The Ongoing Token Outflow?

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The surprise launch of Uniswap’s UNI governance token created a lot of buzz in the DeFi world. Days after climbing to an all-time high of $7.07, UNI shed more than 46% of its gains in just two days when it dropped to $3.79. Despite the dip, UNI bounced back, and at the time of writing, the token was priced at $4.97.

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However, according to a recent development, most users who claimed UNI either sold or transferred all of their stakes shortly thereafter. This was revealed by the crypto-analytic firm, IntoTheBlock that tweeted,

“The day the UniswapProtocol’s token $UNI was released, there were 178.330 active addresses. By analyzing the number of zero balance addresses, we can confirm that most UNI claimers either sold or transferred all of their stake immediately.”

Source: Intotheblock.com

Outflow in tandem with Price Surge

The number of active addresses reached an all-time high of 178.33K on the 17th of September, a day after its launch on Ethereum mainnet. On the same day, the number of ‘Zero balance addresses’ climbed to 104.83K. But as the price of the token increased and reached ATH, the number for active addresses saw a massive outflow of funds.

Notably, this continued even after UNI suffered a drop following the market downturn in which pulled down several DeFi tokens to lose significant value.

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Currently, the token’s price appeared to be headed for a recovery route, but the same cannot be said for the figures for daily active addresses.

Despite this, many investors were bullish on Uniswap’s capabilities. Arthur Cheong, the Founder of Defiance Capital recently tweeted in favor of the protocol,

“I used to be skeptical of Uniswap’s model due to its capital inefficiency and inability to reject toxic taker flows but turn out there’s a lot more nuanced than that when it comes to scaling MM and liquidity.”

He added,

“One year ago, no professional market-maker/trader thinks the Uniswap model will work in the long-term and will be able to challenge centralized exchange in volume. Just goes to show that extrapolating tradfi knowledge to DeFi doesn’t guarantee you to be a know-it-all.”

UniSwap [UNI] Ownership Stats

Source: Intotheblock.com

According to ITB, there are currently 14 whales that own more than 1% of the total circulating supply, out of which three addresses were highly active. The number of investors, who own 0.1%-1% of the total tokens in circulation, stood at 36. Retail volume, on the other hand, amounted to just 8.07% of the total ownership concentration.


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Author: Ketaki Dixit




Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.

Source: https://coingape.com/uniswap-uni-survive-token-outflow/

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Market Wrap: Bitcoin Hits $10.7K; Options Market Likes Sub-$360 Ether

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Bitcoin had a small rally Thursday. Meanwhile, the ether options market is giving some investors protection from decentralized finance downsides.

  • Bitcoin (BTC) trading around $10,653 as of 20:00 UTC (4 p.m. EDT). Gaining 3.3% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $10,135-$10,736.
  • BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.

btcsep24

Bitcoin trading on Coinbase since September 22.
(TradingView)

Bitcoin’s price made gains Thursday as the world’s oldest cryptocurrency began a modest rally at around 15:00 UTC (11 a.m. EDT). It jumped $343 to as high as $10,736 in just two hours on spot exchanges such as Coinbase. Bitcoin was changing hands at $10,653 at press time. 

Thursday’s bitcoin price pop came after several days of stagnation followed by a quick drop in tandem with equities Wednesday

George Clayton, partner at Cryptanalysis Capital, maintains that the average cryptocurrency holder is a risk-oriented trader and that quantitative strategies kept bitcoin’s price near at $10,400 in the days leading up to Wednesday’s decline. 

“If volumes are low, traders and algorithms are in charge,” Clayton said. “This last move down was on pretty low volume and coincided with the sell-off in stocks.” 

Momentum in the crypto market had been absent this week prior to bitcoin’s rise Thursday, according to Denis Vinokourov, head of research for the digital assets prime broker Bequant. “There has been a distinct lack of aggressive liquidations and the actual bitcoin futures curve has been flat for much of the month,” he said. 

Liquidation volume in September on derivatives exchange BitMEX has fallen. Liquidations, the crypto equivalent of margin calls, often exacerbate price movements as long or short traders have their positions wiped out.

skew_bitmex_xbtusd_liquidations-41

BitMEX liquidations volume the past year.
(Skew)

Rupert Douglas, head of institutional sales at crypto brokerage Koine, says he still has some concerns that investors will quickly sell off crypto should traditional markets take another nosedive. “Risks are still to the downside,” he said.

Read More: Strengthening US Dollar Could Bring Further Downside for Bitcoin

Bitcoin has performed poorly compared to equities thus far in September, down 10.7% while the S&P 500 is in the red 7.9%. Major stock indexes in Europe and Asia are also treading below 0% month-to-date.

btcvsequitiessep

Bitcoin (gold), S&P500 (blue), Nikkei 225 (red) and FTSE 100 (green) compared.
(TradingView)

Bequant’s Vinokourov points to decentralized finance, or DeFi, as contributing to the bitcoin market’s lack of overall momentum. “It appears that leverage flow has already been sucked out and quietly exited or transitioned to other parts of the crypto ecosystem, namely DeFi,” he said. 

Despite this, Vinokourov sees positive sentiment towards bitcoin’s use in DeFi-based yield generation to eke out profits in slow market cycles. “The use of bitcoin on the Ethereum network remains on a strong uptrend, with over 100,000 BTC now locked,” he noted.

Ether options hedging DeFi

Ether (ETH), the second largest cryptocurrency by market capitalization, was up Thursday, trading around $346 and climbing 5.5% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). 

Read More: Uniswap Users Have Claimed $560M-Worth of UNI Tokens in a Week

The ether options market for October expiration seems to favor the cryptocurrency being priced below $360. Traders are betting there is a 50% chance of ether trading over $340 at next month’s expiration, a 40% chance of it priced over $360, and just a 24% chance of it being over $400 according to data aggregator Skew.

skew_probability_of_eth_being_above_x_per_maturity-12

Probabilities of ether price based on October expiration.
(Skew)

Vishal Shah, an options trader and founder of derivatives exchange Alpha5, said this market behavior signals smart investors are likely hedged on DeFi’s risks. 

“This is a protective premium against DeFi total value locked; a lot of people have ETH locked up in pools,” he said. “The larger players definitely are hedged, plus this can make offering DeFi structured products a lot easier [such as one with a] USD-yield with protective puts against the pool.”

Other markets

Digital assets on the CoinDesk 20 are mostly in the green Thursday. Notable winners as of 20:00 UTC (4:00 p.m. EDT):

One notable loser as of 20:00 UTC (4:00 p.m. EDT):

Read More: Ex-Pantera Partner’s New Crypto Fund Is ‘Not for the Faint of Heart’

Commodities:

  • Oil was up 1.5%. Price per barrel of West Texas Intermediate crude: $40.22.
  • Gold was in the green 0.32% and at $1,869 as of press time.

Treasurys:

  • U.S. Treasury bond yields fell Thursday. Yields, which move in the opposite direction as price, were down most on the 2-year, dipping to 0.137 and in the red 5.4%.

https://www.coindesk.com/coindesk20

The CoinDesk 20: The Assets That Matter Most to the Market
(https://www.coindesk.com/coindesk20)

Disclosure

Source: https://www.coindesk.com/market-wrap-bitcoin-hits-ether-options-market

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