You need to prepare a Monero wallet before you can begin using the Anycoin Direct platform. By using your Monero wallet, you can store and send Monero. Throughout this article, we will tell you the purpose of a Monero wallet, the different types of Monero wallets, the Monero wallets we recommend and how you can use your Monero wallet to buy or sell Monero on the Anycoin Direct platform.

A Monero wallet can come in all kinds of shapes like physical appliances, software programs or services that contains your public and private keys and corresponds with the public ledger. You can compare your wallet's public key, which also functions as your "coin address", to your bank account number for Monero, where anyone can track the transactions made, but no one knows they are yours. You can access the balance on your public key through your wallet's private key, which is used to approve transactions in the ledger.

You have the possibility to choose from different kinds of Monero wallets. The options differ from online wallets accessible through the web, to hardware wallets that are a bit more costly. On the image below you can find the most popular wallets and their characteristics.