As the crypto markets gain newfound momentum, users are looking at some interesting opportunities. With regulations becoming more strict in different parts of the world, many are focusing on privacy coins.
Monero remains the leader in this niche, in both adoption and technology advancements. This cryptocurrency has managed to completely obfuscate user’s financial data on its network since its inception in April 2014.
For nearly a decade, it has successfully provided users with much-needed privacy in the industry. The US IRS even has a bounty of up to $625,000 to anyone who cracks Monero’s code.
However, storing and managing XMR after you’ve swapped BTC for XMR on https://godex.io/exchange/btc-to-xmr can be a bit tricky. This cryptocurrency uses unique technology, which can support only a limited selection of wallets.
In this article, we provide you with a list of the top 4 wallets that you can use for sending and receiving XRM coins.
Exodus
Exodus is one of the first multi-coin software wallets available in the industry. This non-custodial wallet was one of the pioneers in security and utility when it comes to managing multiple crypto assets in one place. The app comes as a mobile, desktop, and web3 wallet.
As you might have guessed, Exodus also supports Monero, which is why it has made our list. This is in addition to another 260+ assets, including BTC, ETH, MATIC, and many others. So, it’s a great way to hold onto your assets after you’ve checked the MATIC price forecast.
The wallet provides you with a high level of security and privacy, as it stores the encrypted keys on the device. In addition, it comes with native Trezor hardware wallet integration, allowing you to add another layer of safety to your funds.
A neat feature of the Exodus wallet is the possibility to anonymously swap to and from XMR to a large number of supported assets. Moreover, it simplifies the management experience by abstracting a large part of the tedium when it comes to sending and receiving XMR.
The only caveat is that Exodus is closed-source and can’t be audited by third-party entities or community developers.
Atomic
Atomic Wallet is an extremely popular multi-crypto wallet that supports thousands of assets, including Monero. You can install it on mobile or desktop, depending on your preference for crypto management.
The app allows you to instantly swap Monero with 1000+ different assets, and get 1% cashback. To achieve this, Atomic uses a third-party custodian called ChangeNOW.
Worth mentioning is that the wallet allows you to natively stake dozens of different cryptocurrencies (other than XMR). As such, it provides a lot of flexibility for users managing multiple assets in one place.
Guarda
Guarda is a non-custodial wallet service based in Portugal. The team has provided their application in mobile and desktop versions since 2017. To meet demand, they recently launched a web3 version of their app.
One of the highlight features of Guarda is that it provides EU-zone users with a Visa credit card within their wallet. Users can spend crypto assets directly with their credit card, adding a lot of utility for daily payments. Worth noting is that the Visa card is prepaid, so you must top it up with your favorite crypto before use.
Cake Wallet
Cake Wallet is often a preferred choice for Monero users because of the advanced features it provides. Although it has an option for a simplified interface, like other wallets from our list, pro users can access more advanced features.
For example, users can create subaddresses when receiving XMR, so that the sender is never able to figure out your Monero public address. Furthermore, it allows the creation of view-only wallets that only see incoming transactions, making them untraceable.
Final Thoughts
Monero has survived a decade in a highly volatile market and its user base is only getting stronger over time. Its privacy features make it less volatile than other cryptocurrencies due to its high utility and usage rate by holders. If you are looking for secure XMR storage, any of these wallets should suit you nicely.