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The best Monero wallet in 2023, as found in our independent testing, is Ledger!
Searching for the best Monero wallet?
Leaving your cryptocurrency all around the place is just as safe as leaving your fiat cash lying wherever you put it.
In other words, it’s not, and with the growing influence that the crypto market has begun to have on the global finances, more and more shady people will start going after your riches.
Monero in this case. Is there a solution?
In fact yes, there is.
It is time to consider obtaining a Monero wallet.
Both software and hardware Monero wallets are better solutions than leaving your tokens at a crypto exchange.
And besides security, these wallets allow for easier storage, conversion, and management of your Monero (XMR) tokens (as well as others, if you are aiming for a diverse portfolio).
For that reason we have decided to make a list of the best XMR wallets in 2023 for storing Monero, both hardware and software, both free and paid versions.
See them for yourself and decide what is best for your needs.
Let’s dive in!
Best Monero Wallets in 2023
Here’s a quick look at the best Monero wallets to store your XMR securely:
The first Monero hardware wallet on our list, Ledger is one of the most secure wallets that you can physically obtain.
The security standard it provides is industrial-grade and without physically taking the device from you, it is virtually impossible for anyone to transfer funds from it without your explicit permission.
Ledger supports 1800+ various crypto coins, tokens, and other types of digital financial assets, which is huge.
To withdraw currency, in our case XMR, users have a LED display at their disposal for transaction validation and PIN code to validate payments.
Besides, the device is compatible with devices with USB ports, and it allows installing up to 100 apps directly onto the device.
Every cryptocurrency tightly packed and safe in a single device? That’s what Ledger is for and that’s why Ledger is among the best XMR wallets!
The only potential limit to the offer provided by Ledger hardware wallets is the total physical memory of a device.
However, it is pretty unlikely that you will ever get to fill it up completely.
Ledger comes in two devices, the popular Ledger Nano S and the upgraded version, Ledger Nano X. There is a comparison sheet on their official website, so go check it out if you want to find out more.
The second Monero hardware wallet on this list, Trezor is quite literally a treasury for your cryptocurrency.
It does not need armed guards or stone walls like the historical treasure troves, as Trezor devices require physical access in order to be “plundered”.
As this will not be the case as long as you have the device within reach, Trezor is a hyper-secure offline storage that will rid you of any potential worry of cases of crypto cash theft with your funds as the target.
So long, sleepless nights!
Jokes aside, Trezor is quite a nifty piece of hardware that supports more than one thousand different crypto assets, all secured with a randomly-generated PIN code and accessed via an integrated touchpad.
Trezor comes in the form of two devices, Trezor One and Trezor Model T, the latter being an upgraded and expanded version.
As per usual, feel free to check the perks of each and opt for the one that is more suitable to your crypto trading situation.
Whichever you pick out, rest assured that you have got one of the most secure Monero wallets available.
Pionex is another great option if you are looking for a Monero wallet for your cryptocurrency.
Not only can you store Monero through this crypto wallet, but you can store other major cryptocurrency coins as well, making them a popular choice.
The best thing about Pionex is that they are free for you to use, meaning that you aren’t going to be paying for the privilege of storing your Monero with some of the best security in the system.
We know that this is hard to believe, but trust us when we say that it is legit, and there’s a reason that Pionex is one of the more popular Monero wallets in the industry.
If you want to ensure that everything about your online assets is protected, and you want to work with a service that’s going to be in the industry for a long time, then you definitely need to jump on the Pionex bandwagon.
We promise you that you won’t regret it.
Binance is by now a household name in the crypto trading community with a massively popular exchange and related crypto services and utilities.
Binance Wallet is not an exception here, as it is one of the top Monero wallets currently available.
Besides layers of advanced digital security, Binance Wallet provides easy access to the trading platform with 150+ cryptocurrencies available for buying, selling and trading.
It is also important to note that it comes with an API for easier integration with other trading apps.
In short, Binance Wallet is one of the safest XMR software wallets with a large assortment of tools and secondary utilities for trading online.
It also comes with around-the-clock customer support, just in case! The only downside is that Binance does not support fiat deposits/withdrawals.
Monero tokens (XMR) are supported, of course, but you can also store every other Binance-supported type of crypto coin.
Oh, and Binance Wallet is available online via browsers, on iOS, Android, and PC devices.
No wonder Binance is so popular–it supports just about everything the average day trader might need!
Another XMR wallet that can also be used for crypto buying, selling, trading, and transferring besides storage, Coinbase as well derives its reputation from the associated crypto exchange.
Similarly to Binance Wallet, it is a branch of the mother platform originally designed to foster trade in the original exchange, but has since expanded to provide its services to whomever so chooses.
What does Coinbase provide?
Primarily, near-perfect software security for a huge assortment of cryptocurrency, tokens, and other digital goodies in an offline storage space.
No wonder it has made it on our best Monero wallets list!
Coinbase is mainly used to manage, buy, and sell any supported digital currency in the form of an orderly presented crypto portfolio.
It should be said that some fringe and less popular crypto coins are not supported by this wallet, but Monero is, in addition to pretty much every other major form of cryptocurrency in circulation.
Coinbase also assists you in tracking and scheduling crypto trades on a monthly, weekly, or daily basis.
And it also accepts conventional currencies in addition to digital assets!
As nothing is perfect, Coinbase also has a small downside to its offer, as it is not available globally.
Make sure to check whether it is supported in your country before opting for it.
It is telling when a digital product launched in 2019 secures its position as a top Monero wallet online in just a couple of years.
PrimeXBT represents a multi-asset trading and financial platform, as cryptocurrency is just one of the several components that this trading software service supports.
Besides crypto, PrimeXBT deals in forex, stocks, and commodities markets.
Although you can store your crypto within a secure (and free) PrimeXBT crypto wallet, PrimeXBT can be used for many more things.
It offers some incredible leverage options, with minimal fees when compared with the similar services among its competition.
Its prominent perks include some of the most advanced levels of security, a huge variety on the number of assets available for trade and storage, and the overall acceptance of fiat currencies when it comes to credit/debit card deposits.
It is also very simple to use, which is beneficial to fresh initiates in the crypto trading business. Sadly, though, PrimeXBT is not available in the U.S. and Canada.
Fusing the best from the worlds of crypto storing and crypto trading, PrimeXBT is a splendid candidate for your new multi-practical software wallet! Feel free to check the complete offer on their website.
7. Monero GUI
A desktop-only software wallet with great utility that is free and open-source?
Yes, it exists and it is called Monero GUI. It is an official desktop client that supports Monero and stores XMR in its wallets.
Hosting a native UI/UX that is suitable to both beginners and seasoned veterans of crypto day trading, Monero GUI has a well-earned place among the top Monero wallets.
Monero GUI’s transactions are made strictly confidential and literally untraceable.
It has substantial effort put into its safety, as every good wallet should, and this can be observed in a 25-word seed phrase that turns your storage into a digital fortress that no digital invader can breach!
Besides storing XMR, it also allows direct conversion and exchange of fiat money into Monero tokens.
Top that with free download and customer support and you have a pretty lucrative offer that is hard to refuse.
Well done, Monero GUI!
Back to software wallets with integrated support for their mother exchanges with Gemini, one of the leading forces in the global effort to make cryptocurrencies an equal member on the financial stage as hard cash.
What makes Gemini one of the most popular Monero wallets is the fact that it has a simple and elegant interface with sturdy and secure safety measures to protect your cryptocurrency portfolio from any form of malicious intentions.
Lots of utility provided by the Gemini wallet stems from the specialty of the Gemini exchange.
For example, Gemini offers pretty low fees for volume traders, which makes using Gemini wallet a natural choice for every volume trader that trades XMR via this exchange with great frequency and in big quantities.
With more than 40 cryptocurrencies available for storage and trading, Gemini covers every major crypto trading coin, XMR included.
In compliance with international banking standards, user-friendly, and tailored to be easy on the eyes of beginners in the crypto trading community, Gemini is never a wrong choice for every budding crypto trader out there.
Have you heard of Coinsmart?
They are a budding cryptocurrency exchange that has been around only since 2018 and has already managed to make a name for itself.
Fostering cryptocurrency trade and boosting the legitimacy of the crypto industry as a whole, they have also made steps in the direction of preserving the safety of their every user’s portfolio.
Their extensive investment into safety policies and high degree of virtual security has made the Coinsmart wallet one of the best Monero software wallets.
Coinsmart’s ties with its crypto exchange allows trading any of the supported currency (XMR included) with just one click, instantly.
It supports fiat currency and concludes the processing of fiat transactions within just a few days.
Placing customized orders is supported and encouraged as well, especially when you take into consideration that Coinsmart remains available both on mobile devices and PCs.
Coinsmart is indeed a smart solution for your crypto coins, without a doubt!
The last but not least wallet on our Monero wallets list is Cex. As a software storing service, it helps you make deposits with funds from MasterCard, Visa, or Paypal.
This obviously means that Cex supports fiat currencies, which is a big boon to its global offer.
Cex as a platform enables scalping and frequency trading strategies, and its wallets are well-integrated with such trading strategies and approaches for maximum security online.
Cex offers full data encryption that neutralizes DDOS attacks. It allows trading with more than 10 times the leverage without having to go through the hassle of making another account.
Couple that with advanced order matching algorithms and downloadable insights of balance and transaction history of your trades and you get a wonderful service that is both safe and useful for your trading career.
What is Monero?
Cryptocurrencies are quickly gaining traction on the global financial stage, as more and more infrastructure and companies integrate digital tokens into their daily transactions and processes. Monero included.
The main perk of Monero and similar crypto coins is the fact that they remain highly decentralized and thus out of the manipulative hands of centralized seats of financial authority, banks, and government institutions.
Every transaction that occurs using these coins is fraud-proof and secure to the point of being untraceable.
Even if someone wanted to manipulate the flow of Monero, it would be impossible.
Launched in 2021, Monero is a fork of the Bytecoin blockchain, formerly known under the name Bitmonero.
Privacy and security of users has been the top priority since day 1, which has slowly but surely turned Monero into a financial force to be reckoned with.
It is thus today one of the most popular cryptocurrencies amongst traders and experts alike.
Add all this together and, if you are in possession of Monero, you have got yourself a highly sought-after item probably lying around in an exchange or something.
Should I Keep Monero on an Exchange?
This is a big no-no.
As large stockpiles of ready cryptocurrency, exchanges always remain at risk of hacker attacks and various digital breaches.
The more crypto-cash and fewer security measures an exchange has, the more likely it is to find itself in the crosshair of digital corsairs.
The simplest and most efficient solution to the lasting safety of your Monero tokens is a crypto wallet.
To sum up, having a crypto wallet beats holding your portfolios in places readily susceptible and at constant risk of hackers attacking or other forms of malevolent breaches with the intent of syphoning your crypto funds.
The larger the sum of crypto coins that you hold, the greater the impact on your finances if these attacks occur and you end up at the receiving end.
It is better to prevent than to mend, as the old adage goes.
The reasoning behind making this list of best Monero wallets out there is to spare you the time researching or, even worse, let you remain unconscious of the risks and have you in our consciousness if your XMRs get taken away from you.
With these wallet options you will no longer be at risk and your funds will be in the safe hands of these leading crypto security companies, or, in the case of hardware wallets, your own hands, quite literally.
Whichever of these you pick out, you will make the right choice.
The only difference is in the nuances provided in various utilities and integrated support for various trading options and different crypto assets.
And these are very personal details that vary from trader to trader.
In any case, we hope that all of these best Monero wallets serve you well and keep your funds from harm’s way. Good luck trading!