While all [Monero transactions](https://www.crypto-news-flash.com/de/was-ist-monero-xmr-beginner-guide-der-beste-privacy-coin/) are private by default, using an inappropriate wallet can compromise your anonymity. This article provides an overview of essential considerations for ensuring fully private transactions and recommends suitable Monero (XMR) wallets.
Before diving deeper, it’s crucial to have a foundational understanding of cryptocurrencies, cryptography, and crypto wallets. If you’re already familiar, feel free to [skip](#tipps) this section.
Basic Knowledge About Cryptocurrency WalletsA crypto wallet functions similarly to a digital wallet but doesn’t store the currency itself; instead, it holds the access keys to your cryptocurrency. The primary access key is known as the “private key.” Depending on how this key is stored, wallets are categorized as:
Cold Wallets: Private keys are stored offline, never connecting to the internet, offering enhanced security. Hot Wallets: Private keys are stored on devices connected to the internet, making them more susceptible to online threats.
Large investment firms and cryptocurrency exchanges often store the majority of their assets in cold wallets to maximize security. As a private investor, you can emulate this by using hardware wallets that keep your private keys offline, providing optimal protection.
Hot wallets are further divided based on where the private keys are stored:
Monero Desktop Wallets Monero Mobile Wallets Monero Online Wallets
What is the Private Key?In asymmetric cryptography, each user generates a key pair: a private key and a public key. The private key is a randomly generated string that grants ownership of the cryptocurrency. The public key serves as the wallet address. It’s imperative never to share your private key; possession of it allows access to your funds.
Monero uniquely utilizes two private keys:
Private Spend Key: Used to authorize transactions.Private View Key: Allows viewing of incoming transactions on the encrypted blockchain.
Despite Monero’s protocol enforcing transaction privacy, certain practices can inadvertently reveal your identity. When selecting a Monero wallet, consider the following:
Avoid Exchange Wallets: Storing Monero on exchanges can expose your IP address and personal information due to compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. For truly private transactions, opt for wallets where you control the private keys.Utilize Subaddresses: Monero supports subaddresses, allowing you to create multiple addresses linked to your main wallet. This feature prevents senders from associating multiple transactions with your primary address, improving privacy. Ensure your chosen wallet supports subaddresses.
Additionally, consider these recommendations:
1. Set up your Monero wallet before purchasing XMR. This allows you to provide your own wallet address during the purchase, potentially saving on fees.
2. Be aware that cryptocurrency exchanges are frequent targets for hackers. There have been numerous incidents where exchanges were compromised, leading to significant losses. Therefore, it’s advisable to use wallets where you control the private keys and manage your security.
By following these guidelines and choosing the appropriate wallet, you can maintain the privacy and security that Monero offers.
The best Monero hardware wallets
Cold wallets in the form of hardware wallets are the safest and best option to store your Monero private keys. Of all wallet types, hardware wallets offer the highest level of security that individual investors can obtain. They are also more practical than a Monero Paper Wallet.
Hardware wallets provide the best possible protection because the private key is stored on the device in an isolated manner and never comes into contact with the internet. Even when a Monero transaction is authorized, the private key signature is only executed on the hardware wallet. The operating systems of these devices are programmed so that only other components go online to communicate with the blockchain. This prevents hackers from intercepting the private key (e.g., via keylogger or phishing attack).
The best hardware wallets are not only protected against digital theft but also against physical theft. If a thief steals the device, hardware wallets offer different security levels so that the cryptocurrencies cannot be accessed. Each of the hardware wallets presented below requires both PIN activation and 2-factor authentication (if enabled). This means that theft of stored private keys is virtually impossible, even in the event of physical theft.
Because of this, hardware wallets are by far the safest way to manage your Monero (XMR). Especially if you want to store large amounts of Monero, investing in a hardware wallet is highly recommended. The price of our top pick, the Ledger Nano X, is reasonable considering the level of security it provides.
The advantages of Monero hardware wallets:
✅ Highest security standard
✅ Storage of private keys offline
✅ Support for multiple cryptocurrencies
✅ Regular updates from manufacturers
✅ Physical confirmation required for transactions
✅ Responsive customer support
The disadvantages of hardware wallets:
❌ Not free of charge
❌ No deposit insurance as offered by some custodial platforms
⚡ OUR test champion: The Ledger Nano X
✅ Manage 100 cryptocurrencies simultaneously
✅ Compatible with more than 1,100 cryptocurrencies
✅ Bluetooth connection for mobile wallet
✅ New flagship of the market leader
⛔ Price: 99,00 € - in the middle range
Read our review
⚡ Best price/performance ratio: The Ledger Nano S
✅ Very good Price: 59,90 €
✅ Compatible with more than 1,100 cryptocurrencies
✅ Proven quality: more than 1.3 million units already sold
⛔ Manage max. 5 cryptocurrencies simultaneously
Read our review
⚡ 3rd place: The Trezor Model T
✅ Over 1,000 cryptocurrencies supported
✅ Proven quality from Trezor
✅ Firmware is not installed on the device until you start it
⛔ In comparison to the Nano X: less features and functions
⛔ High price: about 180 €
Read our review
1.Ledger Nano X
The Ledger Nano X is one of the best hardware wallets available today. It is the successor to the Ledger Nano S and comes with various new features:
Bluetooth function: The Ledger Nano X can be operated via smartphone (via the Ledger Live App) while still keeping private keys securely stored on the hardware wallet.More memory space: The device supports up to 100 apps, allowing management of multiple cryptocurrencies simultaneously.Larger display: The expanded screen makes it easier to view wallet addresses without scrolling.Enhanced security: The security chip has been revised and certified by the French cybersecurity agency ANSSI.
Conclusion: The Ledger Nano X is currently the best hardware wallet for Monero. It makes managing and sending Monero secure and user-friendly. More details can be found in our Ledger Nano X guide.
Supported cryptocurrenciesThe Ledger Nano X supports over 5,500 cryptocurrencies, including Monero (XMR). Up to 100 apps can be installed simultaneously.OperationThe Ledger Nano X is easy to use and operates via two physical buttons on the device. Transactions are managed through the Ledger Live App.SecurityThe device ensures private keys remain secure with its certified security chip and offline storage. Bluetooth connectivity does not expose critical data.
2.Ledger Nano S Plus
The Ledger Nano S Plus is an affordable option for users who want a high-security Monero wallet without Bluetooth functionality. It offers similar features to the Nano X but with a more compact design.
Supported cryptocurrenciesSupports over 5,500 cryptocurrencies, including Monero. The memory capacity is slightly smaller than the Nano X.SecurityEnsures private keys remain secure with PIN protection and offline storage. Supports Monero transactions through the Monero GUI Wallet.
3.Trezor Model T
The Trezor Model T is another premium hardware wallet that supports Monero. It features a touchscreen interface for enhanced usability.
Touchscreen: Allows direct navigation and transaction verification on the device.Firmware Upgrade: Improved security through Trezor Core.USB-C Connection: Faster and more reliable connectivity.
Conclusion: The Trezor Model T is an excellent option for Monero storage, offering high security with an intuitive touchscreen interface.
Supported cryptocurrenciesSupports over 1,000 cryptocurrencies, including Monero. Monero transactions require integration with the Monero GUI Wallet.SecurityTrezor is well-known for its security features, including PIN protection, passphrase encryption, and offline storage of private keys.
The best Monero desktop wallets
Desktop wallets are hot wallets and are programs that are installed on a computer in order to manage, send, and receive Monero (XMR). If one compares the security level of the different wallet types, desktop wallets are positioned between hardware wallets and online wallets. They are more secure than online wallets but less secure than hardware wallets. Compared to online wallets, they have the critical advantage that the private keys are stored on the user’s own computer and not on a company server. This ensures that only the users of the desktop wallet, and no third party—including the developers—have access to their crypto assets.
However, this advantage also comes with a significant responsibility. Since the private keys are stored on the user’s computer (encrypted), the user is responsible for protecting them from potential cyber threats. Due to the permanent connection to the internet, the risk of malware attacks is increased. Therefore, it is crucial to keep the computer updated with security patches, install antivirus and anti-spyware software, and regularly update these programs. To further enhance privacy, it is advisable to use Tor and/or a VPN when accessing the wallet.
If these precautions are followed, desktop wallets offer a solid level of security. From our perspective, they are the best free alternative for storing Monero (XMR). Below is an overview of the advantages and disadvantages of using a desktop wallet:
The advantages of Monero Desktop wallets:
✅ Sole control over private keys
✅ Higher security standard than online wallets
✅ No acquisition costs – free to use
✅ Multi-coin wallets support various cryptocurrencies
✅ Regular updates from developers
The disadvantages of Monero Desktop wallets:
❌ Less security than hardware wallets (higher risk of hacking)
❌ No deposit insurance as offered by custodial wallets
❌ Caution required when selecting unknown wallets – risk of scams
The best Monero Desktop walletsMonero GUI Wallet (Windows, Mac, Linux)Feather Wallet (Windows, Mac, Linux)Exodus Wallet (Windows, Mac, Linux)
1. Monero GUI Wallet
The Monero GUI Wallet is the official Monero desktop client developed and maintained by the core Monero team. It is a full-node wallet, meaning users must download the entire Monero blockchain (approximately 100GB). The wallet ensures complete control and privacy by allowing users to connect directly to the Monero network without intermediaries.
Due to its requirement for local blockchain synchronization, the wallet demands substantial storage space and computing power. However, the advantage is that it enables users to actively participate in Monero mining and enhances transaction privacy. The wallet also supports sub-addresses, allowing users to create multiple addresses under one main account.
Conclusion: The Monero GUI Wallet is ideal for advanced users who prioritize maximum privacy and security. It is compatible with Windows, Mac, and Linux.
Supported cryptocurrenciesThe Monero GUI Wallet is exclusively for Monero (XMR). OperationRequires downloading and synchronizing the full Monero blockchain, making it best suited for advanced users. SecurityOffers the highest level of security among desktop wallets, with full control over transactions and keys.
2. Feather Wallet
The Feather Wallet is a lightweight and privacy-focused Monero desktop wallet. Unlike the Monero GUI Wallet, Feather Wallet allows users to run either a full node or connect to a remote node, offering flexibility in blockchain management. It is known for its simplicity, making it an excellent choice for both beginners and advanced users.
The wallet includes advanced privacy features such as Tor integration, custom transaction fee settings, and automatic address randomization. It also supports sub-addresses, making it a strong alternative to the Monero GUI Wallet.
Conclusion: Feather Wallet is one of the best lightweight Monero wallets, balancing security and ease of use.
Supported cryptocurrenciesFeather Wallet is designed exclusively for Monero (XMR).OperationLightweight wallet with an intuitive interface, suitable for both beginners and advanced users. SecurityOffers enhanced privacy features such as Tor support and sub-address functionality.
3. Exodus Wallet
The Exodus Wallet is a multi-asset wallet that supports Monero (XMR) and over 300 other cryptocurrencies. It is known for its user-friendly interface, making it a popular choice for beginners. Exodus also integrates ShapeShift, allowing users to exchange cryptocurrencies directly within the wallet.
While Exodus stores private keys on the user’s device, it does not support Monero’s sub-address functionality, which can reduce privacy compared to other Monero-dedicated wallets. Additionally, the wallet is not open source, meaning users must trust the developers for security.
Conclusion: Exodus is an excellent option for users who want an easy-to-use wallet but do not require the highest level of Monero-specific privacy features.
Supported cryptocurrenciesSupports over 300 cryptocurrencies, including Monero (XMR), Bitcoin (BTC), Ethereum (ETH), and many others.OperationOne of the most user-friendly wallets, with an intuitive design and built-in portfolio tracker. SecurityStores private keys locally but lacks Monero-specific privacy features like sub-addresses.
Mobile Monero wallets for iOS and Android
Mobile wallets provide the advantage of allowing Monero (XMR) users to manage their funds on the go. They are designed to work on most smartphones, making them widely accessible. In principle, they share many similarities with desktop wallets, which is why many wallet providers offer both desktop and mobile versions.
However, integrating Monero’s privacy-focused technology into mobile wallets is more complex, and fewer multi-coin wallets support Monero compared to other cryptocurrencies. The following recommendations for iOS and Android include two Monero-specific wallets and one multi-coin wallet. Mobile Monero wallets come with the same advantages and disadvantages as other mobile wallets. While the private keys are stored securely on the smartphone, granting users full control, this also increases personal responsibility.
One notable security concern is that many smartphone users connect to public hotspots, where transmitted data (without encryption) can be intercepted. Therefore, it is essential to protect mobile wallets by keeping the smartphone updated with security patches, using anti-malware software where possible, and considering additional security layers such as a VPN or Tor.
The advantages of mobile Monero wallets:
✅ Access to Monero (XMR) via smartphone
✅ Wallet accessibility anywhere with an internet connection
✅ Free to use, no acquisition costs
✅ Multi-coin wallets support various cryptocurrencies
✅ Simple and intuitive user interfaces
The disadvantages of mobile Monero wallets:
❌ Lower security than hardware wallets
❌ No deposit insurance, unlike custodial services
❌ Higher risk of hacking or phishing attacks
The best Monero wallets for iOS and AndroidCake Wallet (iOS & Android)Monerujo Wallet (Android)Edge Wallet (iOS & Android)
1. Cake Wallet (iOS & Android)
Cake Wallet is one of the most recommended mobile wallets for Monero. Originally available only for iOS, it is now also supported on Android. Cake Wallet offers superior security compared to MyMonero, as both the Private Spend Key and the Private View Key never leave the device. Unlike MyMonero, Cake Wallet does not send the Private View Key to an external server.
Additionally, the iOS operating system provides a secure environment due to its restricted root-level access. However, one downside is that Cake Wallet must synchronize with the Monero blockchain, which may take time depending on the last synchronization.
Key Features:
Built-in exchange service to swap Monero with other cryptocurrenciesSupport for sub-addresses for better privacyFull control over private keysSupported cryptocurrenciesSupports Monero (XMR) and select other cryptocurrencies.OperationEasy to install and operate with an intuitive UI, making it beginner-friendly.SecurityCake Wallet offers high security by ensuring private keys never leave the device.
2. Monerujo Wallet (Android)
Monerujo Wallet is an open-source wallet developed specifically for Android. Recommended by the Monero community, this lightweight wallet supports full node connectivity and remote node functionality, allowing users to manage their XMR without downloading the entire Monero blockchain.
One notable feature is that Monerujo supports multiple wallets, making it an excellent choice for users managing different Monero addresses. Additionally, sub-addresses are supported, enhancing transaction privacy.
Key Features:
Full and remote node supportLightweight wallet with an intuitive interfaceQR code scanning for easy transactionsSupported cryptocurrenciesSupports only Monero (XMR).OperationStraightforward to use, even for beginners, with an option to connect to remote nodes for faster access.SecurityHigh security, as private keys are stored locally on the device.
3. Edge Wallet (iOS & Android)
Edge Wallet is a multi-asset wallet that supports Monero and over 20 other cryptocurrencies. Designed for user-friendly management of digital assets, Edge Wallet enables users to buy, sell, and exchange cryptocurrencies directly within the app.
Security-wise, Edge Wallet implements client-side encryption, ensuring that private keys remain encrypted on the user’s device. However, it does not support Monero sub-addresses, which may reduce privacy compared to Cake Wallet or Monerujo.
Key Features:
Multi-asset support (Bitcoin, Ethereum, Monero, and more)Integrated fiat on-ramp for buying cryptocurrencies2FA, PIN protection, and biometric authenticationSupported cryptocurrenciesSupports Monero (XMR) and 20+ cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).OperationSimple user interface with a built-in exchange for swapping cryptocurrencies.SecurityUses client-side encryption and supports multiple authentication methods. SummaryMobile wallets offer flexibility and are ideal for managing Monero on the go. Cake Wallet and Monerujo provide higher security than online wallets, while Edge Wallet is a great option for those seeking a multi-asset wallet. For maximum security, however, hardware wallets remain the best choice.
The best Online wallets for Monero
Online wallets are the fastest wallets to set up as they do not require any installation or backup. Often the creation of an account is enough to be able to use the wallet with all its functions. This is also one of the main reasons why online is so popular, even though it basically offers the lowest level of security.
This is especially true for wallets on cryptocurrency exchanges, which offer the advantage that the user does not have to worry about anything (except sending). However, users transfer ownership of the private key and thus of the cryptocurrency to the trading platform. Since exchanges are a popular target for hackers, the user of the platform must fully trust that the cryptocurrencies are securely stored and protected.
Beyond the exchange wallet, there are also specific online wallets for Monero that offer much better protection than exchanges. In this category we would like to mention the very popular MyMonero Online Wallet, which we will introduce in more detail below. But first we would like to show you the (general) advantages and disadvantages of online wallets:
The advantages of Monero Online wallets:✅Access from anywhere in the world where an Internet connection exists
✅ Exchange wallets enable trading out of the Wallet
✅ In the case of exchange wallets, there is no installation work required.
✅ You can define limits for maximum payouts per transaction.
✅ The user interface is often very simple and intuitive.
✅ Often very good customer support
The disadvantages of Monero Online wallets:❌ Lower security standard than hardware and desktop and smartphone wallets
❌ The ownership of the Private Key is transferred to the trading platform.
❌ Greater likelihood of hacking or phishing attacks
❌ Some web wallet vendors have turned out to be scam in the past
The best Monero Online walletsMyMonero Web WalletBinance
1.MyMonero Web Wallet
The MyMonero Web Wallet is a web-based user interface that can be compared to the MyEtherWallet. Like the desktop and mobile versions, it is released by Monero’s core developers and is very popular within the Monero community. The big advantage of the Wallet is the very fast setup, which is done with a short registration, i.e. the creation of an account. All users need is a web browser and an internet connection.
As far as the security of the wallet is concerned, it should be noted that MyMonero basically offers good security and anonymity (to the same extent as the desktop and smartphone versions). Thus, no information is stored on the MyMonero servers. In addition, the private keys are stored exclusively encrypted in the web browser. The main point of attack that all web wallets have is the login. Hackers can create phishing websites that look identical to the original and steal access data and private keys.
Therefore, the MyMonero Web Wallet should be used for smaller amounts of XMR. For long-term storage of Monero, you should use a hardware wallet or other top recommendation from us. You can find the wallet on the official MyMonero website (click here!).
Supported cryptocurrenciesThe MyMonero Wallet only supports Monero (XMR), as the name suggests. OperationThe operation of the wallet is very simple and intuitive even for beginners. Because the MyMonero servers synchronize with the blockchain, the wallet is also very fast. Transparency & FeesThe wallet is based on open source code that is accessible to everyone and has been publicly reviewed. There are no additional fees for the use of the Wallet.SecurityBasically the MyMonero Wallet can be considered very secure. However, there are the two compromises regarding anonymity that we have already described in the desktop and mobile versions of the Wallet. In addition, the Web Wallet is vulnerable to phishing attacks.
2.Binance Wallet
As described at the beginning, exchange wallets should never be used for the storage of Monero (XMR), as they lose the anonymity that Monero offers by default. Generally speaking, exchange wallets offer the lowest level of security. Nevertheless, Binance can be a good choice if you consider Monero merely as an investment and the loss of anonymity is not important to you. Then Binance, as one of the world’s largest and most popular exchanges, can be a good option to trade over 150 cryptocurrencies, including Monero (XMR).
Apart from the lack of anonymity, you must also be aware that the Binance Wallet is an online wallet – with all the disadvantages we have described above. The private keys are owned by Binance and stored by the exchange. The security of your Monero is therefore in the hands of Binance. In May 2019, one of the biggest exchange hacks (after Mt. Gox) in the still young history of Bitcoin, when 7,000 BTCs were stolen by Binance, showed how insecure online wallets of exchanges are – even when it comes to renowned exchanges (such as Binance). Our urgent recommendation is therefore that you only use the Binance Wallet as long as you trade cryptocurrencies.
If you would like to register an account on Binance, you can do so via this link*.
Supported cryptocurrenciesOver 150 cryptocurrencies: All cryptocurrencies that can be traded at Binance can also be stored via the Web Wallet.OperationThe handling of the platform can be a bit complicated and confusing for beginners. In our Binance Review we therefore explain in detail how you can make full use of the platform. Transparency & FeesUse of the Binance Wallets is free of charge. Trading fees are charged, as you can read in our Binance Review.SecurityBinance is considered one of the safest exchanges in the world. However, you should only keep your Monero on the exchange as long as you are actively trading.
In the following we have summarized the most important aspects of the use of Web wallets:
SummaryOnline wallets can be divided into two very different groups: Exchange Wallets and Monero specific developments. The former completely lose Monero’s anonymity, making their use completely unsuitable for private transactions. In addition, they have the significant disadvantage that you are not in possession of the private keys.
Monero specific online wallets (like MyMonero) have the advantage that you own the private keys. Nevertheless, the private keys are connected to the Internet. It is therefore very important that you install anti-virus software on your computer so that you do not become a victim of a hacker attack.
Basically you should remember that online wallets offer the least protection and should therefore not be used permanently.
Monero wallets with Sub-Adress function
Below you will find an overview of the wallets we have tested and whether they support sub-addresses:
The best Monero Paper Wallet
Paper wallets are considered to be very secure in the crypto community since Monero (XMR) is stored offline on a piece of paper. This makes them an excellent alternative to cold wallets, which are not free of charge. Because the password, address, and private key are stored physically, hackers cannot access these data remotely.
To send Monero from your paper wallet to another destination address, you need to use a web wallet such as MyMonero. However, receiving XMR at any time is possible even if you are offline. The sender only needs to know your XMR receiving address.
Warning:
Selecting a trusted Monero Paper Wallet Generator is the most critical decision when using a paper wallet. The number of fraud cases and scams is alarmingly high.
Fake paper wallets often mimic reputable providers using similar domain names. If you fall for one of these scams, the website creators can easily steal your Monero by using your private key. Therefore, always ensure that you only use trusted and well-known providers such as moneroaddress.org.The advantages of Monero Paper wallets are:
✅ Storage of private keys offline
✅ Best suited for beginners
✅ Easy and fast to create
The disadvantages are as follows:
❌ Sending transactions requires importing the private key into a web wallet
❌ High risk of scams! Only use trusted providers like moneroaddress.org
❌ Not 100% safe from phishing or hacking attacks (when using a web wallet to send XMR)
1. Moneroaddress.org
Moneroaddress.org is the most well-known Monero paper wallet generator. It creates Monero’s two private keys, a public address, and a mnemonic seed for recovery. After generation, you should print the data and store the paper securely offline to ensure no hacker can access your Monero (XMR).
One of the most significant advantages of Moneroaddress.org is that it allows users to generate wallets completely offline. By downloading the generator and running it in an isolated environment without an internet connection, users can prevent any potential online threats from intercepting their private keys. This method greatly enhances security and ensures that sensitive information is never exposed to online vulnerabilities.
Additionally, Moneroaddress.org does not store or track any generated keys, further ensuring user privacy. This makes it one of the most trusted solutions for those who wish to hold Monero long-term without relying on software-based wallets. However, users must take personal responsibility for safeguarding their printed wallets, keeping them in secure locations like safes or deposit boxes to prevent loss, theft, or physical damage.
Important: Before creating the wallet, ensure that your computer is free from malware and that you are visiting the correct website to avoid scams!
Further Important Information About Monero Paper Wallets
The information in this article has been compiled to the best of our knowledge and experience. However, despite all precautions, you should conduct further research and test different storage methods to determine the best wallet option for you.
If you have any questions or suggestions regarding our Monero Wallet review, feel free to leave a comment. We are happy to help! If you found this article useful, a positive rating would be greatly appreciated.