Review on MyMonero Wallet by Praise Olagbadun
MyMonero Wallet
FFew days ago, I came across a wallet that specializes on a specific coin but wasn't created by people from the coin. This happens to be very risky and at the end of it all, the wallet stoped operating suddenly and many traders loosed alot of cash. With this, I've learnt something. Whenever you want to use a wallet that accepts just one coin, make sure the wallet is from those who founded the coin or crypto.
I would be reviewing a wallet that is just like that. This time around, the wallet stores the Monero coin, one of the most popular cryptocurrencies I know of, although I'm not sure if it's this popular in the world. This wallet is known as MyMonero wallet and was founded in the year 2014. The wallet seems to have advanced features over the former XMR wallets that have been in existence. This is majorly because they have been able to set up better security features, an easier user interface and even a lighter weight.
Moving on to the MyMonero wallet in details. The wallet happens to have been proud of the fact that it is the lightest wallet available for storing the XMR coin. Unlike many other wallets out there that would make use of a large storage on a mobile device, the MyMonero wallet makes use of just little ROM and RAM. This sounds good for traders like myself with a limited phone storage.
Security is also another thing the MyMonero wallet has been able to put in place. They have been able to set up some good security features which would help traders fund in a good place. The most popular security feature is the fact that their users wallet private keys have been encrypted before being stored. This would make it virtually impossible for hackers to gain access to this wallet. The fact that the private keys are not even stored on the users device is also nice. They have their users private keys stored on a third party device.
Finally, the wallet happens to have a very easy to use interface. This would make it possible for almost every type of traders to access their services.
Pros
- The wallet has a simple interface
- They have their private keys encrypted before storing in a third party device
- The wallet is available on the web and applications on desktop
Cons
- None for now
