Therefore, using an official cryptocurrency wallet, developed taking into account the specifics of a given currency and with an eye on the security of funds, is the most reliable and practical option for storing digital assets. The MyMonero online wallet is one of the best options if you decide to start using a Monero wallet. The full blockchain does not need to be downloaded because MyMonero is an online wallet, as already mentioned. Also, this online wallet is considered to be the simplest and most practical way to keep Monero money. However, it is preferable to retain small amounts there because the wallet does not save private keys. We have mentioned below the steps to create a new Monero wallet with MyMonero.
Steps to Create a New Monero Wallet with MyMonero
Step 1: Open MyMonero and select the blue plus icon in the upper right corner. Step 2: Select create new wallet🇧🇷 Step 3: add one wallet nameand choose a wallet color if you like. The default is grey. Step 4: On the next screen, select I understood! to confirm that you have read the notes. Step 5: Now you will need copy the mnemonic phrase that shows. Copying this sentence to a safe place it’s vital🇧🇷 If you lose your wallet or want to transfer it to another app, this is what you will need to get it back or restore it. In addition, you must never share your mnemonic phrase with anyone as they will be able to use it to restore your wallet to another app and steal your XMR. Step 6: Next, you will have to check your mnemonic introducing the first seven words in the correct order. Step 7: One time doneyour shiny new Monero wallet is ready to go!
Import a Monero Wallet into MyMonero
Step 1: Open MyMonero and select the blue plus icon in the upper right corner. Step 2: Select Use existing wallet🇧🇷 Step 3: Now you will have to copy and paste the mnemonic phrase from your existing wallet to MyMonero. Alternatively, select Address and private keys use this information to import your wallet. Step 4: add one Name and select a Collor.
Final Words
We hope you like our article on how to create a new Monero wallet with MyMonero. MyMonero Wallet gives you the option to install the Monero Wallet GUI for cold storage on your computer for larger amounts. It is currently essentially the safest option to hold XMR coins for a long time. One must download the complete blockchain network and install specialized software to use it. Compared to previous Monero apps, MyMonero has made transaction processing simpler, faster and more efficient. The program is easy to use because all that is needed to send or access your money is your encrypted password.
