10 BEST Monero Wallets to Store XMR Coin (Nov 2022 Update)

Monero is a decentralized digital cryptocurrency system that uses cryptography to ensure all transactions performed remain untraceable. Monero was created in 2012, and it is a fork of the Bytecoin blockchain, which was initially named Bitmonero.

This cryptocurrency pays a lot of attention to the user’s privacy and security. It has steadily become one of the most popular cryptocurrencies in the current crypto market, which you can store using Monero hardware wallets. These digital wallets help you easily store, convert and manage your Monero (XMR) coins.

There are many Monero wallets in the market, and it’s difficult to choose an online XMR wallet for your crypto storage needs. Following is a curated list of top Monero wallet apps that are easy to use and super-secure. The list contains free and paid apps with popular features and website links. Read more…

BEST Monero Wallets: Top XMR Hardware & Software Wallets

1) Binance – Best Wallet with Multiple features

Binance is one of the best XMR wallets that help you create a Monero wallet and offers a platform for trading more than 150 cryptocurrencies. It also offers an API that helps you integrate your existing trading application.

👍 Pros	👎 Cons
This safest XMR wallet offers a wide range of tools for trading online.	Little difficult for beginner crypto enthusiasts.
It provides 24/7 support.	No fiat deposits or withdrawals.
This crypto wallet offers basic and advanced exchange interfaces for trading.
More than 100 different cryptocurrencies are available to trade.

Key Specs:

Coins Supported: 1000+ including BTC, ETH.
Type of wallet: Hot wallet
Available Countries: USA, UK, Belgium, France, Italy, and 100+ countries.
Mobile App: Android and iOS.
Insurance: All U.S. dollar deposits at Binance.us are held at custodial bank accounts and insured up to $250,000 for bank failure by the Federal Deposit Insurance Corp.
Staking Support: It launched the “High-Yield Center,” where you can stake and earn up to 104.62% APY.
Blockchain support: BNB, Polygon (MATIC), SOL, Polka dot (DOT), Cardano (ADA), ERC-20, BTC, ETH, LTC, etc.
Launch Year: 2017
Price: Free

Visit Binance >>

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2) Ledger – Best Cold Wallet

The Ledger is a hardware wallet that supports a multitude of cryptocurrencies. It is one of the best hardware XMR wallets having an LED display for payment validation and a PIN to confirm payments.

👍 Pros	👎 Cons
You can access it via USB-compatible devices.	If you want to set up different cryptocurrencies, then memory can become an issue.
It helps you to install up to 100 applications on your Ledger.
You can secure and control all your crypto in one place.

Key Specs:

Coins Supported: 5500+ coins, including Bitcoin, Litecoin, Dogecoin, Ethereum, LINK Chainlink, etc.
Type of Wallet: Cold wallet
Available Countries: Delivered to all the countries
Mobile App: Android and iOS.
Size: 72mm × 18.6mm × 11.75mm
Material: Brushed stainless steel and plastic
Exchange Incorporated: Yes
Battery: Lithium-ion 100mAh battery that gives 8 hours of extended battery life.
Connectivity: Bluetooth and USB-C cable
Customer Support: It has a vast knowledge-based page, live chat, and email chat
Staking Support: Yes
Blockchain Support: ERC20
Certification Level: CC EAL5+
Price: $175

Visit Ledger >>

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3) Trezor – Best Hardware Wallet

Trezor is a hardware Monero wallet that helps you store your Monero coins with ease. You can easily plug it into your computer or smartphone devices. It also allows you to randomly generate a PIN that keeps your device safe and secure.

👍 Pros	👎 Cons
It is ultra-secure offline storage.	It has a bulky design.
It supports more than 1,000 currencies.
You can always recover access to your coins & assets from your offline backup.
Touchscreen user interface.
It helps you to secure your private keys.

Key Specs:

Coins Supported: 1800+ including Bitcoin, Ethereum, Ripple, HEX, etc.
Type of Wallet: Cold wallet
Available Countries: Delivered to all the countries
Mobile App: Android
Compatibility: Linux, Android, Windows 10+, macOS 10.8+
Size: 64 mm x 39 mm x 10 mm
Connectivity: USB-C connector
Staking Support: Trezor hardware wallets do not allow cryptocurrency staking. Users can, however, link the Trezo Model T or Trezor One wallet to a third-party validator or staking pool. They can also use the Exodus wallet as a staking interface
Available Platforms: macOS, Windows, or Linux
Customer Support: email, Trezor wiki page, FAQ section
Certified: Trezor devices are clearly CE and RoHA certified.
Launch: 2012
Blockchain Support: ERC20
Price: 189 EUR

Visit Trezor >>

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4) Kraken – Best Wallet with High deposit & withdrawal limits

Kraken is one of the best XMR wallets that offer financial stability to the user by maintaining full reserves, relationships, and the highest legal compliance standards. It helps you to buy and sell digital assets with a single click.

👍 Pros	👎 Cons
It provides a highly comprehensive security approach.	Not the most helpful customer service.
A good amount of fiat currencies are accepted.
This Monero wallet offers Tier 2 verification, and you can deposit some fiat money in a few minutes.
You can reach out to their support team via live chat.
This Monero wallet automatically checks all addresses for errors.

Key Specs:

Coins Supported: 120+ coins are supported, namely: Bitcoin (BTC), Polkadot (DOT), Ethereum (ETH), Dogecoin (DOGE), Cardano, etc.
Type of Wallet: Hot and Cold
Available Countries: Africa, Asia, Europe, North America, Oceania, South America
Mobile App: Android and iOS.
Staking Support: Yes. The APY ranges from 4% to 12%
Blockchain Support: ERC-20, TRC-20, Polkadot, Solana (SPL), Cardano, Ripple, + 20 other networks.
Available Platforms: Web, Android, and iOS
Customer Support: Available 24/7 via live chat, phone, and email.
Launch Year: 2011
Regulations: Kraken is regulated by FinCEN.
Price: Free

Visit Kraken >>

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5) Gemini – Best for beginners

Gemini is one of the best Monero wallets that helps you to legitimize cryptocurrencies worldwide. It is a simple, elegant, and secure way to build a crypto portfolio. It also provides discounts up to 0% for volume traders.

👍 Pros	👎 Cons
Allows you to select from 40+ cryptocurrencies.	You need to provide lots of personal information.
It offers good security measures.	Comparatively higher fees than some other crypto exchanges.
Fully registered and compliant with banking standards.
User-friendly and well designed.
Low fees for exchanging assets.

Key Specs:

Coins Supported: 70+ including Bitcoin, Ethereum, Litecoin, Cardano and Bitcoin Cash, etc.
Type of Wallet: Software wallet
Available Countries: Delivered to all the countries
Mobile App: Android and iOS
Compatibility: Linux, Android, Windows 10+, macOS 10.8+
Customer Support: email and Chat
Hardware Wallet Compatibility: No
Security: Very secure
Launch Year: 2014
Price: Free

Visit Gemini >>

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6) CoinBase – Best Wallet for Beginners

Coinbase is a Monero wallet that can be utilized for crypto purchases, selling, transfers, and storage. It can securely store a wide range of digital assets in offline storage. It is one of the best Monero wallets supported in more than 100 countries.

👍 Pros	👎 Cons
Allows you to buy and sell any digital currency and keep track of them in one place.	Not available all over the world.
Helps you to schedule your currency trading on a daily, weekly, or monthly basis.	Less known coins aren’t supported.
You can store your funds in a vault for safety purposes.
Accepts the fiat currencies

Key Specs:

Coins Supported: 500+ cryptocurrencies, including BTC, ETH, LTC, BCH, DOGE, etc.
Type of wallet: Hot storage
Available Countries: 100+ countries like North America, South America, Europe, Asia, Oceania, Africa, etc.
Mobile App: Android and iOS.
Insurance: Coinbase maintains crypto-insurance and all USD cash balances covered by FDIC insurance, up to a maximum of $250,000.
Staking Support: Up to 8% APY in crypto savings
Blockchain Support: It supports various blockchains like Arbitrum, Avalanche C-Chain, BNB Binance Smart Chain, Gnosis Chain, Fantom Opera, Optimism, Polygon, xDai.
Customer Support: Coinbase help page, emailed support, an automated phone system, and a chatbot.
Regulations: Coinbase is also registered as a Money Services Business with FinCEN.
Available Platforms: Web, Mobile, and Desktop
Launch Year: 2012
Signup Bonus: $5 For US Citizens
Price: Free

Visit CoinBase >>

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7) Coinsmart – Best Wallet for Canadians

Coinsmart is a digital currency exchange that enables you to buy and sell crypto with no hassle. It helps you to access your cryptocurrencies, payments, and your transactions instantly. It is one of the best Monero wallets that provides a quick and easy way to send invoices to your customers using SmartPay Invoicing.

👍 Pros	👎 Cons
Helps you trade any currency with just one click.	Fiat withdrawals may take 1-5 business days.
It processes all fiat withdrawals in a few days.
Enables you to place customized orders seamlessly.
You can access this platform from your mobile and desktop.
Offers credit and debit card funding.

Key Specs:

Coins Supported: CoinSmart currently offers 16 Cryptocurrencies, including BTC, ETH, LTC, BCH, EOS, XLM, ADA, DOGE, DOT, etc.
Type of wallet: Cold wallet and Hot wallet
Available Countries: Canada, Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Turkey
Mobile App: Android and iOS.
Insurance: Their cold wallets are insured by BitGo for 200 million.
Customer Support: CoinSmart provides 24/7 omnichannel customer support, SmartRep, via email or live chat.
Regulations: Canadian Securities Administrators’ (CSA), Investment Industry Regulatory Organization of Canada (IIROC), and Ontario Securities Commission (OSC)
Launch Year: 2018
Staking Support: No
Blockchain support: ERC-20 and standard BTC wallets.
Price: Free

Visit Coinsmart >>

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8) Cex.io – Best for trading major cryptocurrencies

Cex.io is one of the best Monero wallets which helps you to buy and sell cryptocurrencies. It helps you to deposit funds using MasterCard, VISA cards, or PayPal. This cryptocurrency platform follows scalping and frequency trading strategies to secure assets and data.

👍 Pros	👎 Cons
It offers protection against DDOS (Distributed Denial-of-Service) attacks with the help of full data encryption.	Does not offer many coin options.
Allows you to trade with more than 10x leverage without creating an extra account.
Provides downloadable reports showing real-time balance and transaction history.
Offers advanced order matching algorithms.
Supports REST and FIX APIs for automated trading.

Key Specs:

Coins Supported: Bitcoins, Ethereum, XRP, XMR, LTC, Cardano, Neo, etc.
Type of Wallet: Software wallet
Mobile App: Android and iOS
Customer Support: email and Chat
Launch Year: 2013
Security: Secure
Price: Free

Visit Cex.io >>

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9) Monero GUI Wallet – Best for monero (XMR) currency

Monero GUI Wallet is an open-source and official desktop client which supports XMR wallets. It is one of the best XMR wallets with a native UI/UX suitable for crypto novices.

👍 Pros	👎 Cons
It makes your transactions confidential and untraceable.	Takes space and processing power, intimidating for beginners.
It allows you to exchange and convert your fiat money into XMR.
Provides a 25-word seed phrase that makes your storage more secure.
Free download support.

Key Specs:

Supported Coins: XMR
Wallet Type: Software, Desktop
Available Platforms: macOS, Windows, and Linux
Customer Support: Community
Mobile App: macOS, Windows, and Linux
Price: Free
Launch year: 2014

Visit Monero GUI >>

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10) PrimeXBT – Best anonymous Bitcoin wallets

PrimeXBT is a multi-asset trading platform, which means cryptocurrency is one of the assets out of the many that you can find on this platform. It provides some amazing leverage options, and the fees on this platform are very competitive.

👍 Pros	👎 Cons
Highest levels of security in your crypto trading.	Offers limited cryptocurrency choices.
Different assets are available to be traded.	Does not operate in Canada and the US.
Accepts fiat (credit/debit card) deposits.
Relatively simple to use.

Key Specs:

Coins Supported: BTC, ETH, LTC, XMR, XRP, EOS.
Type of Wallet: Software
Available Countries: German, French, English, Italian, Spanish, Russian, Portuguese, Japanese
Mobile App: Web, Android, and iOS.
Wallet Type: Software
Available Apps: Web, Android, and iOS.
Customer Support: Live Chat, Email Support.
Blockchain Support: BTC, EOS, ETH, LTC, and XRP
Supported Coins: BTC, ETH, LTC, XMR, XRP, EOS.
Launch Year: 2019

Visit PrimeXBT >>

How to buy Monero XMR?

Below are the steps to buy Monero (XMR):

Step1) Register on the Binance site by clicking Register Now button

Step 2) In the next step,

1. Select the method as Email
2. Enter your email address and password and click on the Create Account button

Step 3) For the additional security measure, Binance asks you for the puzzle verification. Just drag and drop your mouse to complete the puzzle shown on your screen.

Step 4) Enter the verification code you have received in your mail-id.

Step 5) Complete all the registration formalities. Enter credit card and billing details. You can now proceed with your XMR purchase

1. Click on the Trade menu

2. Then press the Convert option to convert your fiat currency into XMR

Step 6) In the Convert & OTC Portal screen,

1. Select Euro (or any other Fiat currency you want to deposit) and enter the amount you want to convert into an XMR coin

2. Click on the Preview Conversion button.

Step 7) You will see the amount of XMR you will receive after conversion. If all is okay, click Convert to proceed with the transaction.

Step 8) Conversion process is successful! You can check the complete status of your transaction by clicking on View Status

Buying Guide:

❓ What is a Monero Wallet?

Monero wallet is a digital wallet that helps you easily store and manage your Monero (XMR) coins. This software allows you to buy, sell, convert and manage different digital currencies and keep track of them in one place. These digital wallets also offer various security features to keep your digital assets safe and secure.

✅ What are the best XMR Wallets?

Following are the best XMR Wallets:

• 👍 Binance – Best Wallet with Multiple features
• 👍 Ledger – Best Cold Wallet
• Trezor – Best Hardware Wallet
• Kraken – Best Wallet with High deposit & withdrawal limits
• Gemini – Best for beginners
• Coinbase – Best Wallet for Beginners
• Coinsmart – Best Wallet for Canadians
• Cex.io – Best for trading major cryptocurrencies
• Monero GUI – Best for monero (XMR) currency

🔒 Is Monero GUI Wallet safe?

Yes, the Monero GUI wallet is relatively secure, as users have total control of their private keys.

🚀 What are the tips for securely storing your Monero?

Here are some important tips for securely storing your Monero coins:

• You should back up your wallet regularly to protect against unexpected mishaps or accidents.
• You can store your private keys somewhere private and also ensure that it is encrypted.
• Select a wallet that suits your needs, as some crypto wallets are focused on security and can be time-consuming to use.
• Set up two-factor authentication.

🏅 Can you hold XMR coins on an exchange?

Yes, you can. However, not all cryptocurrency exchanges support Monero (XMR). Binance and Coinbase are crypto wallets that allow you to hold your XMR coins on them. Keeping your XMR coins on these platforms will allow you to remain sure that they’re quite secure and also trade with other cryptocurrencies.

👉 Can you keep your cryptocurrencies in two or more Wallets at a time?

Yes, it is also a part of crypto storage best practices too! Most cryptocurrency enthusiasts prefer to have software for easy access and trading and hardware wallet for safe storage.

However, you can also use multiple wallets to make sure that your assets are safe and sound. This helps you when one of your crypto wallets becomes compromised, and you still do not lose all of your assets.

⚡ What are some important types of Monero Wallets?

Here are some important types of Crypto Wallets:

• Hot wallets: These wallets use keys created or stored on a device with access to the Internet. Hot wallets provide high utility, but they are less secure than cold wallets.
• Cold wallets: These wallets use digital keys created on a device that does not have access to the Internet. They are also known as hardware wallets. Cold wallets are the physical devices in which cryptocurrencies are stored.
• Hosted wallets: These wallets are live on another server that you don’t have control of. Hackers use host wallets as they hold the data of all the funds from the wallets on the server. This type of crypto wallet offers various levels of protection as third parties insure some hosted wallets.
• Decentralized wallets: In this type of wallet, you are the only person that holds the keys to your crypto wallet. A decentralized wallet never offers any assurance of complete privacy. Although, it also means you do not rely on a 3rd party to send, receive or store your cryptocurrencies. This allows you to ease some security risks associated with hosted wallets.
• Hardware Wallets: Hardware wallets are physical items (like a type of USB drive). The Ledger and Trezor are popular names in hardware wallets. They are considered highly secured crypto wallets.
• Software Wallets: These online crypto wallets or trading platforms do not require downloading and can be accessed through an Internet browser.

❗ What should you look for in a Monero Wallet?

Here are some important factors that you should consider while selecting the best Monero wallet:

Usage: The biggest thing you should consider when selecting a wallet that supports XMR is how you intend to use your crypto. Therefore, a hardware wallet is surely the best choice if you plan to buy and hold your investment long-term.

2-factor authentication: It is also known as the 2FA feature that helps you to log in only when you verify your identity in the crypto wallet. If another person had your password or could hack your password through several methods, they would still need to pass the second level of authentication.

Multi-signature support: Sometimes, a crypto wallet is owned by multiple people, like business partners. At that time, multi-signature support helps you set the security for the wallet, which is needed for multiple keys before access is granted. This also secures your funds from unauthorized access or transferring the funds to another wallet.

Exchange with crypto wallets: A crypto wallet should support other platforms. For example, many cryptocurrency users use Coinbase as it offers various types of tokens, allowing you to make payments, buy, sell and trade with the help of the GDAX platform.

Multi-currency vs. single currency. Many cryptocurrency owners own multiple cryptocurrencies. Therefore, managing a separate wallet for every currency can be a complicated process. Therefore, you should select an XMR wallet app that supports multiple types of currencies.

QR Code Scanner: A QR code scanner is necessary to access the mobile crypto wallet. This allows any mobile crypto wallet to generate and scan a QR code for coin transfers.

Backup Option: Your selected crypto wallet should provide an option for backup. Therefore, in the case when your laptop, PC, or smartphone device stops working, you can back up your data immediately. Therefore, some mobile crypto wallets like Coinbase provide a handy feature to restore your wallet.

❓ Can you mine XMR?

Yes, you can mine monero. All the transactions are carried by a “centralized” blockchain, making the process reliable and faster. Mining is a fundamental principle of almost every cryptocurrency. Each of them uses their system to establish how much power the miners have.

BEST Monero Wallets