Stay Private, Stay Secure: 9 Best Monero Wallets to Use in 2024

Monero (XMR) used to be the privacy coin that everyone was talking about. Although it has since decreased in popularity a bit, partly due to new alternatives that came out, it’s still one of the most well-known cryptocurrencies with a focus on privacy and anonymity.

And you’re looking to secure your Monero holdings with a reliable wallet in 2024. Given the significance of privacy and security in managing XMR, choosing the right wallet is vital. You have various options to evaluate, each catering to different needs and preferences. 

From the top security of hardware wallets like Ledger Nano S Plus to the improved privacy features of the Monero GUI Wallet, and the convenience of mobile wallets such as Cake Wallet and Monerujo, there’s a lot to examine. So, where do you start to find the perfect fit for your Monero management needs?

Factors to consider when choosing a Monero wallet

Monero’s focus on privacy and security means that not all wallets are created equal. Here are the key aspects to consider:

• Security Features: The primary purpose of any wallet is (or should be) to protect your funds. Look for features like private key management (so that you have full control over your keys), strong encryption to safeguard your data, and backup options (e.g., seed phrases) for fund recovery.
• Anonymity: Monero is known for its privacy features, so the wallet should probably align with this ethos. Choose wallets that don’t collect sensitive user data and, if possible, offer extra anonymity features.
• Compatibility: Make sure the wallet supports your preferred operating systems, such as Windows, Mac, Linux, iOS, or Android. If you use multiple devices, check for cross-platform compatibility to manage your funds seamlessly.
• Ease of Use: The user interface should match your level of technical expertise. Beginners may prefer wallets with intuitive designs and simple setups, while advanced users might look for options with more customization or full-node support.
• Additional Features: Depending on your needs, some wallets include extra functionalities such as integration with hardware wallets (for added security), support for multiple cryptocurrencies, or built-in exchange services for trading directly within the app.

Types of Monero wallets

Monero wallets come in various types, each catering to different user needs and preferences. Here are the main types:

• Desktop Wallets: These wallets are installed on personal computers and are ideal for users who prioritize security. They often support advanced privacy settings and allow full-node operation, giving users complete control over their funds.

  Examples: Monero GUI, Exodus Wallet, Atomic Wallet
   

• Mobile Wallets: Designed for smartphones, these wallets provide convenient access to your funds while on the go. They often include features like QR code scanning and seamless integration with payment systems, making them suitable for frequent transactions.

  Examples: Cake Wallet, Edge Wallet, Monerujo Wallet
   

• Web Wallets: Accessible through web browsers without requiring downloads or installations, web wallets are convenient for casual users. However, they tend to be less secure since private keys are often stored online.

  Examples: MyMonero Wallet, XMRWallet, Guarda Wallet
   

• Hardware Wallets: Physical devices that store private keys offline, hardware wallets offer maximum security. They are ideal for long-term storage or large amounts of Monero and are highly resistant to hacking attempts.

  Examples: Ledger Nano S Plus
   

• Paper Wallets: These are printed documents containing public and private keys for offline storage. Paper wallets provide excellent protection against cyberattacks but require careful handling to avoid physical damage or loss. They are best suited for advanced users familiar with managing offline keys.

Each type of wallet has its strengths and weaknesses, so choosing the right one depends on your security needs, transaction frequency, and level of technical expertise.

Best Monero Wallets in 2024

Okay, let’s take a look at our top pick for the best Monero wallets in 2024. You won’t go wrong with any of these, but some will certainly be better suited for you than others, depending on your needs and preferences.

1. Monero GUI wallet – Monero wallet with a myriad of useful features

The Monero GUI Wallet stands out for its user-friendly design, geared towards users who are looking for extensive security features.

This wallet is designed to offer a thorough and secure way to manage Monero transactions. As a full-node wallet, it requires users to download the complete Monero blockchain. This can be a strain on resources and take extra time and effort, but it guarantees high-level security and privacy.

You’ll appreciate that the Monero GUI Wallet supports multiple languages, so it may be a good option for non-English speakers. Also, it’s open-source, so it’s subject to community scrutiny, transparency, and potential enhancements driven by user feedback or developer contributions.

This wallet includes advanced privacy features like stealth addresses and ring signatures, maintaining the core ethos of Monero’s focus on untraceable transactions.

With robust security measures and a community-backed framework, the Monero GUI Wallet is a reliable tool for managing your Monero assets securely. 

Two main drawbacks are:

• Its user interface can be a bit complex for beginners
• It doesn’t support mobile of web versions, it’s only available on desktop

Get the Monero GUI Wallet

2. XMRWallet – Beginner-friendly wallet with client-side encryption

If you’re looking for simplicity and ease of access, this wallet is tailored to meet your needs. With a user-friendly interface, XMRWallet provides essential features for managing your Monero (XMR) transactions efficiently, so it’s more suitable for beginners than the previous entry on our list.

This lightweight web-based wallet focuses on providing the bare essentials without compromising on security. Utilizing client-side encryption, XMRWallet protects your private keys and sensitive data, ensuring that your transactions remain confidential.

The wallet also supports multiple operating systems, so you can access your Monero (XMR) funds easily across different devices without the need for a full blockchain download.

A significant advantage of XMR Wallet is its support for advanced privacy features such as stealth addresses and ring signatures. These functionalities make sure that transactions remain untraceable and secure, which users who prioritize anonymity in their financial activities will appreciate.

Regular updates and community feedback contribute to the wallet’s ongoing improvements and user-centric enhancements. 

Whether you’re new to Monero or a seasoned user, XMRWallet’s straightforward design and strong security features make it a good option for safeguarding your XMR wallet.

Get the XMRWallet

3. Ledger Nano S Plus – Reliable hardware wallet with excellent security

The first and only hardware cryptocurrency wallet on our list, Ledger Nano S Plus is a premier choice for safeguarding Monero holdings. It offers an excellent combo of security and usability. 

With support for over 5,500 cryptocurrencies (including Monero), this hardware wallet guarantees that your private keys are safeguarded by a Secure Element chip. With this wallet, your crypto assets are stored offline, which keeps them out of reach from online threats.

Its interface, while not the easiest to navigate, is still quite well thought-out and makes maneuvering and managing multiple assets smoother without compromising on security.

You’ll appreciate the full control over your private keys, which never leave the device, so the risk of unauthorized access is truly minimal. Regular firmware updates address potential vulnerabilities, maintaining the highest level of security.

Setting up the Ledger Nano S Plus is straightforward, and it integrates seamlessly with various software wallets like the Monero GUI. You can manage your XMR through this combination while enjoying the peace of mind that comes from knowing your private keys are stored securely offline. 

The device also features improved memory capacity compared to its predecessor, Ledger Nano S, which lets you install more apps simultaneously.

The Ledger Nano S Plus strikes a great balance between security and accessibility. This wallet is dependable, not too hard to use, and its security is essentially as good as it can realistically get.

To learn more, read our comparison of Ledger Nano S vs Ledger Nano S Plus.

Buy the Ledger Nano S Plus

4. Cake Wallet – Mobile wallet with built-in exchange features

Cake Wallet is a mobile wallet for managing Monero assets, providing you convenient access on both iOS and Android platforms (it’s also available on desktop as beta).

This wallet is designed with client-side security in mind. It focuses on user privacy and transaction safety, which aligns with the confidentiality principles of the Monero blockchain.

Key features that make Cake Wallet stand out include:

1. Enhanced Security and Privacy: With client-side encryption and biometric authentication, Cake Wallet makes sure that user funds and transaction data are secure and confidential.
2. Versatile Trading Options: The wallet allows for seamless coin swapping between Monero and other cryptocurrencies, which makes it a versatile tool for users interested in diverse trading options.
3. Regular Updates and User-Centric Design: Cake Wallet is updated regularly and is designed with a focus on ease of use and user-friendliness. It’s very accessible for beginners while still offering decently advanced features such as customizable transaction speeds and fees. 

Cake Wallet also includes built-in exchange functionality. This allows users to swap between different cryptocurrencies directly within the app. Its emphasis on privacy is evident in features like advanced security settings and support for subaddresses

Its user-friendly interface and quality-of-life functionalities make it a great choice if you’re looking for convenience and ease of use.

Get the Cake Wallet

5. Edge Wallet – Mobile wallet with client-side encryption and many other security features

As a user-friendly mobile wallet, Edge Wallet supports Monero as well as many other cryptocurrencies. Unfortunately, it’s not available on desktop.

Edge Wallet integrates client-side encryption, which means your private keys are securely stored on your device. This gives you greater control over your funds and improves the security of your transactions. Also, 2FA and biometric security options are available to further safeguard against unauthorized access.

Unlike most wallets, you use your username and password instead of a more traditional seed phrase option.

Effective wallet management is a breeze with Edge Wallet. You can easily send, receive, and trade Monero, as well as other cryptocurrencies, within the app, which eliminates the need for using multiple apps or exchanges.

Regular updates and active community engagement contribute to the wallet’s ongoing improvement and security reinforcement. 

Get the Edge Wallet

6. Exodus Wallet – XMR wallet with a ton of additional features

With its user-friendly interface, Exodus is a very popular wallet choice. One of its biggest strengths is versatility and flexibility.

It supports multiple platforms, including web browsers, mobile and desktop, and it has arguably the most user-friendly interface that’s an absolute joy to use. It’s suitable for both beginners and experienced users, which makes it a versatile choice for managing Monero and other cryptocurrencies.

Key features of Exodus Wallet include:

1. Multi-Platform Accessibility: Exodus is available on desktop and mobile devices, ensuring you can manage your Monero assets on the go.
2. Built-In Exchange: You can easily trade between assets using the built-in exchange feature, enhancing the efficiency of your transactions.
3. Robust Security Measures: Exodus encrypts transactions and private keys on your local device. This provides security while maintaining your control over funds.

Exodus Wallet is excellent at delivering a thorough and secure crypto management solution. Its intuitive design and wide range of supported cryptocurrencies, including Monero, make it a popular choice among users.

Regular updates further improve the overall user experience and protection of assets within Exodus Wallet. 

Of course, its security can’t quite reach the level of hardware wallets such as Ledger Nano S Plus, but that’s true for basically every non-hardware wallet. With that said, if you’re looking for a user-friendly Monero wallet that you can use on various platforms, and that allows you to trade between assets using the built-in exchange, Exodus is a great choice.

Get the Exodus Wallet

7. Guarda Wallet – Monero wallet with a focus on security

Estonians sure know their tech. Guarda is a company based in Estonia with a financial license from Estonian financial authorities, which immediately bumps it up a grade in credibility. 

Guarda is a desktop and mobile wallet that offers support for thousands of coins, Monero included, so you’re getting a diverse portfolio management option. 

You’ll find built-in exchange functionality that allows you to easily swap Monero for other digital assets, which eliminates the need for third-party services.

Guarda is a non-custodial wallet places huge importance on privacy and security. It uses client-side encryption to guarantee that you maintain control over your private keys and sensitive data. 

Guarda wallet also integrates with hardware wallets, such as Ledger. This means you can stake your private keys on a Ledger device (for example Ledger Nano S Plus) and use it to make transactions extra safe.

As an added bonus, you can take advantage of staking capabilities of the Guarda Wallet on supported digital assets to passively grow your assets.

Get the Guarda Wallet

8. MyMonero Wallet – Lightweight and easy-to-use

MyMonero is designed as a lightweight wallet that prioritizes simplicity and ease of use. As a light node wallet, it does not require downloading the entire blockchain. Instead, it connects to full nodes to access necessary data quickly.

It was originally a browser-based wallet, but it has since been updated to also support a desktop version, as well as an iOS version.

This free wallet provides an intuitive interface suitable for beginners while ensuring that private keys are stored securely on the user’s device without third-party involvement. However, this also means that if you forget or lose your keys, you also lose access to your account.

MyMonero focuses on delivering fast transaction broadcasts and supports various languages.

1. Convenience: MyMonero allows users to access their Monero assets without the need to download the full blockchain, making it ideal for quick transactions.
2. Security and Transparency: The wallet employs client-side encryption to guarantee that users’ private keys remain protected.
3. Cross-Platform Access: MyMonero supports cross-platform functionality with mobile and web access, allowing users to easily create an account and access their wallet from multiple devices.

MyMonero is favored for its simplicity and graphical, user-friendly interface, and it’s a good option for beginners who aren’t using it for huge amounts of funds. With that said, if you are moving huge amounts of funds, you may be better off with a more secure option.

Get the MyMonero Wallet

9. Monerujo Wallet – Popular mobile Monero wallet

If you’re looking for a mobile wallet that’s designed for Monero specifically, Monerujo is a great option. This open-source wallet is designed specifically for Android devices, offering a lightweight and user-friendly interface for managing your Monero assets.

It’s quite popular, as there are currently over 100,000 downloads of Monerujo on Google Play. Its main features include:

1. Clean and user-friendly interface: The wallet is very easy and simple to use, thanks in large part to its interface.
2. Client-side encryption: Your private keys are stored securely on your device.
3. QR code scanning: You can easily send and receive Monero with built-in QR code scanning capabilities.

With Monerujo, you can create and restore wallets using mnemonic seeds and explore your balances and transaction history.

The wallet’s continuous updates guarantee a secure and efficient user experience. Monerujo focuses on providing an excellent user experience while maintaining privacy standards inherent in Monero transactions, and it succeeds at that.

This wallet supports all core functionalities necessary for managing XMR effectively while allowing users to connect directly to remote nodes or run their own node if they prefer more control over their transactions.

It is limited to mobile-only use, though, and it does lack some more advanced features of more powerful wallets. Still, for a lightweight, mobile-only, Monero-focused wallet, it’s a good choice.

Get the Monerujo Wallet

How to choose the right wallet for you

Choosing the right wallet for your Monero (XMR) needs depends on your specific requirements and preferences. Here’s what we’d recommend, based on what’s most important to you:

• Security Needs: If long-term storage is your priority, opt for a hardware wallet like Ledger Nano S Plus for offline security and robust protection against hacking. Frequent traders may prefer wallets like Exodus or Monerujo, which offer secure but more accessible options for regular transactions.
• Frequency of Use: For daily transactions or trading, consider mobile wallets like Cake Wallet or Edge Wallet, which provide convenience and easy access on the go. If you rarely access your funds, a hardware wallet ensures maximum security.
• Ease of Use: Beginners may find MyMonero, XMRWallet, or Exodus Wallet easier to navigate due to their intuitive interfaces. Advanced users who require full control and privacy might prefer Monero GUI Wallet with its full-node support.
  Compatibility: Ensure the wallet supports your preferred operating system. For instance, Cake Wallet works on iOS, Android, and even desktops, while Monerujo is on Android only.
• Additional Features: Look for wallets that meet extra needs. For instance, Guarda Wallet allows staking on supported assets, and Exodus offers built-in exchange functionality for seamless trading

The bottom line

You’ve got a multitude of options when it comes to the best Monero wallets in 2024. From secure hardware wallets like Ledger Nano S Plus to convenient mobile wallets like Cake Wallet and Monerujo, and the all-encompassing Monero GUI Wallet. 

Consider your needs, whether you prioritize security, accessibility, or trading features, and choose the wallet that’s right for you. Each top option offers a unique blend of features to safeguard and manage your XMR efficiently.

To learn more about the best wallets out there, not just for Monero, read the following guides:

• 8 Best Crypto Wallets for 2024
• 6 Best Crypto Wallets For Beginners in 2024
• 5 Best Crypto Wallets with Lowest Fees in 2024
• 5 Best Crypto Hardware Wallets

Source: https://coincodex.com/article/54924/best-monero-wallets/