Monero Archives - Brango Magazine

Jun 13

The List of Frequently Used Monero Wallets

In the world of cryptocurrencies, Monero is a synonym for privacy. This distinct characteristic of Monero made it a subject of various interpretations. Some regard it as the ultimate “privacy coin”, while others think Monero is suitable for covering the tracks and handling highly questionable transactions. Either way, when handling assets, safety and privacy are something everyone demands and appreciates. And Monero has been developed with these two categories in mind. Once you come into the possession of Monero, the question is where to store it. As with all other cryptos, there are multiple solutions. We tried to compile the available information on the most frequently used Monero wallets.

Monero GUI Wallet

This is the official wallet of Monero. The app itself can be downloaded and installed, as per instructions from this site.

It is compatible with Windows, Mac, and Linux. It is available in Ubuntu version, and experts claim that this version has the best performances. Once you install it, you will see it is basically a very user-friendly desktop app, containing all the features users need. “Monero GUI Wallet” is easy to use and therefore recommended for less experienced users. It is an e-wallet which makes sending and receiving XMR easy.

Ledger Nano S

Many crypto enthusiasts believe “Ledger Nano S” is the most convenient e-wallet there is. It is small and resembles USB stick, but also features a small screen where you can check the details of your transactions by double tapping. Your assets would be safe and sound offline as well. This e-wallet does not actually store your cryptos. What it does is track your Monero through the blockchain. Developers of “Ledger Nano S” thought about the users’ safety as well.

This wallet features a secured PIN code, 2-step authentication, and recovery seed accessibility. Apart from XMR, it also supports Stellar, Ripple, Ether, Bitcoin, Ethereum Classic, just to name a few.

My Monero

“My Monero” is a web-based wallet developed by Monero’s team. The reviews say that is very user-friendly. However, it is web-based, which means that you need to have an account on the website in order to use it, and this – many claim – could be the downside to this wallet. If you are familiar with creating accounts, logging in and following the instructions, you should try it out.

Monerujo

“Monerujo” is an Android app and an open source, which enables you to use a few different wallets at the same time and to transfer funds. By using “Monerujo”, all your data will be stored on your Android advice. The advantages of “Monerujo” include QR scanning for sending and receiving XMR, as well as a very easy-to-navigate interface.

Monero Paper Wallet

This type of wallet is usually considered to be one of the safest if stored properly. Its advantage is in the fact that there are no risks of being hacked. “Monero Paper Wallet” includes QR code for generating a public address and one QR code which contains the private key.

Guarda

“Guarda” is the wallet which supports various cryptos, such as Monero, Dash, Bitcoin, Bitcoin Cash, Stellar Lumens, Ethereum, Zcash, Ripple and many other altcoins.

It can be used on mobile devices in addition to a web version. The main feature of “Guarda” is the fact it does not store any client data, wallet data or private keys. As for the private key, it is stored in device’s memory and can be deleted automatically when logging out from the wallet.

Which Monero wallet have you tried to use?

Jun 04

Monero – The King of Anonymity Among Cryptos

By Tom Wolfe News & more No Comments

Monero is most probably the king of anonymity among cryptos. When handling payments online, apart from fast transactions, the highest demand is always for mechanisms that can provide full anonymity. And this is the field where Monero rules – both features combined in one crypto.

It is a secure, private and untraceable currency system. The ability to stay “below the radar” so to speak, is of high importance if you ask crypto enthusiasts. This is also the character that has put this currency in the spotlight of the latest May review of Monero published by Reuters. The Monero Outreach, a workgroup of the decentralized Monero, defended the Monero feature which intrigues many, in this post.

No One Can Track Your Transactions

Monero gives you the chance to have complete control over the crypto transaction. This means that no one is able to see where your assets go, and you can basically hide all of your tracks. All transactions with this crypto are private. Apart from securing total privacy, this is an important advantage of Monero because the assets you use always appear to be “clean”. Even if at any point in the past, the Monero which is now in your possession, had been used in any kind of shady business, the network will not show the details, and the value of your Monero will not depend on it. Other cryptocurrencies, allowing for transparency while protecting anonymity, are subject to visible previous transactions. This is the point where the distinction is made between so-called “clean” and “tainted” cryptos.

Monero Is Fungible

Many experts accentuate the fact that this crypto is fungible. An odd word, don’t you think so? To tell you the truth, I had to look it up as well to grasp the exact meaning. What it comes down to is the fact that Monero is compatible or convertible, if you wish. Furthermore, since it does not succumb to the concept of “clean” or “tainted”, it is considered to be fungible.

Public and Private Keys

Monero has multiple keys. So far, we have all got acquainted with bitcoin or ether, for example, that have one public and one private key. Again, “multiple keys” is the feature which should secure that the senders’ and users’ identities are kept well hidden. The public view key, as the word says, is used for generating public address. The private view key is used by the receiver for scanning the blockchain and finding the funds sent to him.

Signatures and Full Protection of Identity and Transactions

In order to fully protect your privacy of a sender, Monero has “Ring Signatures”. There is an interesting explanation of this term which I came across and it says that when you are sending the check you need to sign it and everyone will recognize your signature, because the handwriting is unique for each person. However, if you were to combine your own handwriting with a few more people, you would create a unique, but unrecognizable signature. This is what Ring Signatures do. They make a unique reference to the sender without any lead toward his identity.

Monero developers also pride themselves with what they refer to as “stealth addresses”. This means that the transactions between addresses are not traceable, i.e. only the sender of funds would know who the receiver is. Furthermore, the transaction amount can also be fully hidden, depending on your preferred settings.

Looking forward to hearing your experience with Monero.

Editor’s Note: Check out all you need to know about Ethereum & ETH, or Dogecoin – crypto with most passionate fans.

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