5 Tips for securely storing Monero XMR
5 Tips for securely storing Monero XMR
Monero (XMR) is a privacy-focused cryptocurrency designed to offer fast, secure and anonymous transactions. If you already own Monero or you’re looking to buy and hold this digital currency, you’ll need to find a secure wallet where you can safely store your XMR."5 Tips for securely storing Monero XMR"
Want to know how to safely store XMR or any other cryptocurrency? Keep the following tips in mind:
- Do your research: Before choosing any wallet, make sure you thoroughly investigate what it has to offer. Is it offered by a reputable provider and backed by a strong development team? What security features does it offer? Has it ever been hacked? Do other users provide positive or negative reviews of their own experiences with the wallet?
- Consider offline storage: Storing your crypto private keys offline is widely considered to offer the best security. However, at the time of this writing (3/7/18), a dedicated Monero hardware wallet is a work in progress. Ledger is also working on integrating Monero into its Nano S and Blue hardware wallets. For the time being, those wanting a cold-storage solution for XMR will need to consider a paper wallet generator such as the one found on the MoneroAddress website.
- Update your protection: Before installing or accessing any wallet, make sure the antivirus and anti-malware software on your device is up to date. Also, remember to update your protection regularly to provide extra security for your funds.
- Set strong passwords: When creating a password for your wallet, don’t simply use the lazy, easy-to-remember password you always use for any online account. Instead, put in the time to create a strong, random password that’s virtually impossible to crack.
- Look after your private keys: Remember that your private keys are crucial – without them, you can’t access your crypto funds. With this in mind, make sure to safely store your private keys and never share them with anyone else.
5 Tips for securely storing Monero XMR
Reviewed by mir khaleq ali
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Reviewed by mir khaleq ali
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12:43
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