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Monero is a currency and can be exchanged for goods, services and other currencies, privately and with very low fees. The community has put together a vast amount of resources and documentation. Would you like to look up the meanings of the terms and concepts used in Monero?
Here you will find an alphabetical guide to terms and their meanings. Join us! Researchers and cryptographers from all over the world meet to find new ways to improve Monero. Read their papers and join them! The members of the Monero community are all over the world. You can find us on multiple platforms. Come meet us! Get Started. What is Monero? Community Crowdfunding. Vulnerability Response. Looking for more explanatory videos? Monero Means Money Private, decentralized cryptocurrency that keeps your finances confidential and secure.
Choose a Wallet To use Monero, the first thing you are going to need is a wallet. We put together this guide to evaluate the best Monero wallets based on privacy, convenience and security. To help you make the right choice, we tested the most popular Monero wallets available, from hardware wallets to web wallets.
MyMonero is maintained by the core Monero development team, and the codebase is completely open source for anyone to inspect. Out of all the Monero wallets we tested, MyMonero was the most intuitive and the easiest to use. The desktop wallet comes with a number of convenient features, such as the ability to drag QR codes into the application to automatically fill the transaction address field, or the ability to save addresses to a contact book after sending a transaction.
These touches make it simpler and faster to actually spend your Monero. Dragging and dropping an image of a QR code into the send address field automatically converts the QR code to a destination address. MyMonero does make one important privacy trade-off for the sake of convenience: Instead of scanning the blockchain locally on your computer, the wallet sends your view key to its servers and uses the key to scan for incoming transactions to your account.
Users who want to sync MyMonero to a local node can input their local node address in the preferences section of the desktop application. The other privacy risk of using MyMonero is that most people using it will connect to the network with a remote node. Users concerned about privacy risks with a remote node should use a VPN or connect to the node via Tor.
Alternatively, they should consider running a full node, which is the most private option. The default node for the wallet is the one hosted by mymonero. If you want to choose a different remote node, you can find a list of community-hosted nodes here. If you need the highest possible level of security and privacy, we recommend keeping your Monero safe in cold storage with a hardware wallet like the Ledger Nano S and connecting it to a full node that you control.
The only way to access the funds in cold storage is through the keys on the actual device. The Ledger Nano S is a popular hardware wallet that supports Monero along with over 1, other cryptocurrencies. Your private keys are stored on the hardware device, which you use by connecting it to your computer via USB.
To send transactions from the Ledger, you have to physically press a button on the device, which signs transactions on your private key and sends the signature to a wallet on your computer. Your private keys themselves never actually touch the internet. You can install Monero on your Ledger Wallet in less than five minutes by following theinstructions here.
The most time-consuming part of the process is running a full node, which will take roughly 24 hours, depending on your hardware and bandwidth.