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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

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

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

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

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.

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

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

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.

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

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

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

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.

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5. NEO vs EOS comparison

Written by:

Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier

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