What is the best Monero (XMR) wallet?
You need to prepare a Monero (XMR) wallet before you can begin using the Anycoin Direct platform. By using your Monero (XMR) wallet, you can store and send Monero (XMR). Throughout this article, we will tell you the purpose of a Monero (XMR) wallet, the different types of Monero (XMR) wallets, the Monero (XMR) wallets we recommend and how you can use your Monero (XMR) wallet to buy or sell Monero (XMR) on the Anycoin Direct platform.
What is a Monero (XMR) wallet?
A Monero (XMR) 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 (XMR), 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.
What kind of Monero (XMR) wallets are there?
You have the possibility to choose from different kinds of Monero (XMR) 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.
Which Monero (XMR) wallets does Anycoin Direct recommend?
At Anycoin Direct we have made a selection of recommended Monero wallets for our customers:
- Online wallet: MyMonero
- Software wallet: Exodus
- Mobile wallet: Exodus Mobile
- Full node wallet: Monero GUI
- Hardware wallets: Ledger, Trezor
Be aware, that Anycoin Direct is not responsible for the usage of these wallets. Always do your own research!
How can you use your Monero (XMR) wallet on the Anycoin Direct platform?
Now that your Monero (XMR) wallet is created, you are able to buy, sell or trade Monero (XMR) on our website. If you prepare your Monero (XMR) wallet and click the receive button, your Monero (XMR) wallet address will be shown, which you need to enter in the flow to buy Monero (XMR). By clicking the 'send' button in your Monero (XMR) wallet you are able to enter the Anycoin Direct Monero (XMR) wallet address, which is a required for you to sell Monero (XMR).