MONERO ( XMR )

Monero XMR

What is Monero?

Monero (XMR) enjoys great recognition within the cryptocurrency community. Privacy features, ASIC-resistance, anonymity and decentralization made Monero one of the most favorite coin of the blockchain users. Unlike Bitcoin, Ethereum and a lot other cryptocurrencies which is pseudonymous, XMR is fully anonymous. This added layer of privacy has likely contributed to its success in the cryptocurrency arena. Privacy is one of the most valuable values, but today, we have less and less of it. With Monero, you can spend safely, knowing that others cannot see your balances or track your activity.It can be useful tool for companies looking to commercial secrecy, users in repressive countries looking to avoid censorship or surveillance etc.
Monero achieves increased level of privacy through the cryptography it’s built on. These are three specific features: Ring Signatures, Confidential Addresses, and Ring Confidential Transactions. These maintain the privacy of the sender, recipient, and transaction, and makes Monero 100% unlinkable and untraceable.
According to chatter on Reddit, Monero is one of the three most popular cryptocurrency alongside Bitcoin and Ethereum, according news from The Next Web. The article cites a new research paper by Pacific Northwest National Laboratory, which analyzed three years worth of discussions on Reddit from January 2015 to January 2018. As part of this study, the researchers sought to measure the speed and scale at which discussions about these cryptocurrencies spread.
Monero ( XMR ) cryptocurrency description

Monero Wallets To Securely Store XMR

Monero (XMR) is a privacy-focused cryptocurrency designed to offer fast, secure and anonymous transactions. However, Monero will not do everything instead of you. Transaction privacy and security of funds depend a lot on you. If you already own Monero or you’re looking to buy and hold it, you’ll need to find a secure wallet where you can safely store your XMR. Don't choose your wallet randomly or thoughtlessly, because you will quickly lose your XMR or / and your anonymity. Some information about most trusted wallets can be found in the recommendations of the Monero community.
Several examples of most popular and widely liked Monero wallets are presented below.

MyMonero

MyMonero is a secure, easy to use light weight web wallet. It provides a nice interface that broadcasts all your transaction details instantly. To use this wallet you don’t need to run a full node, it’s a web wallet so just your private login key is all you need to access your wallet. This is not a third party wallet, it is developed and run by a Monero core team member. MyMonero is probably one of the most intuitive wallet available for Monero currently.
Information how to create and use MyMonero wallet, you can find here : MyMonero - Wallet Creating Tutorial

Monerujo

Monerujo is a lightweight Monero wallet on Android, where all of your private data are stored on your device. App include the ability to manage multiple wallets and QR scanning for sending and receiving Monero payments. Monerujo support Ledger Nano S ( hardware wallet ), NFC and possiblity of payment to Bitcoin addresses also. The app user interface supports above 20 languages, is presented in a simple way and easy to get used to.
Monerujo utilizes remote nodes that synch up with a blockchain network. You can run your own node at home, connect to nodes provided by the Monero community or automatically scans the entire network for free nodes. Automatically scans the entire network for free nodes is useful Monerujo feature labeled Node-o-Matic; This feature can best determine which node is most appropriate for you and connect you to it automatically.
Monerujo is a community developed open-source mobile app. It is considered by the community to be safe and secure, and is one of the mobile apps recommended by the developers on the official Monero site ( you can check it here ).
Monerujo Website : https://www.monerujo.io. App is available for download in Google Play, GitHub and F-Droid.
Comprehensive guide about use Monerujo, you can find here : Monerujo - Using & Creating Wallet Tutorial

Monero GUI Wallet

Desktop wallets provide more cost efficient ways of storing cryptocurrencies, and you can manage your XMR holding by using the Monero GUI Wallet which is Monero’s official desktop client.
The wallet has a simple interface, is relatively straightforward to use, and is available for Windows, Mac, and Linux users. The GUI Wallet incorporates a password that protects the wallet file on your computer, in addition to producing a 25 word recovery seed phrase. However, the password isn’t needed when restoring the wallet by using the recovery seed.
The GUI desktop wallet is a full-node wallet, meaning that it’s necessary to download and synch with the full Monero blockchain. This takes quite some time, and also requires significant amounts of hard drive space and processing power.
The wallet also uses a “Daemon” or program that runs in the background to synchronize with the network to scan for and process transactions. Some more advanced features include view only wallets, transaction verification, and the ability to sign a message or file using your wallet’s unique private key. This allows users to verify and confirm the authenticity of any files, documents, and certificates being shared across the network. The Monero GUI Wallet also supports mining and users just need to specify the number of threads they want and click the start mining button. However, this is only really effective if you have a multi-core processor, and the mining process will command a lot of your computer’s processing power, with higher yields only expected for owners of specialized ASIC processors. The wallet takes a while to get going but once the downloading and syncing process is finished, it quite straightforward to use. However, due to it being a full node wallet, and incorporating some advanced features, it may be better suited for more experienced users.
You can access the service at this link: https://web.getmonero.org
Monero ( XMR ) cryptocurrency description