If you’re looking to invest in digital assets, using an official cryptocurrency wallet is the most reliable and practical option. The MyMonero online wallet is one of the best options if you decide to start using a Monero wallet. ..

MyMonero is an online wallet that does not require the full blockchain to be downloaded. It is considered the simplest and most practical way to keep Monero money, but it is preferable to keep smaller amounts in the online wallet as it does not save private keys. The steps to create a new Monero wallet with MyMonero are listed below. ..

Steps to Create a New Monero Wallet with MyMonero

Step 2: Type in the following command to start mining Monero: monerod –mine-on-device

To create a new wallet, go to step 2. ..

Step 3: Add one wallet name and choose a wallet color if you like. The default is grey.

On the next screen, select I understood! to confirm that you have read the notes.

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: Check your mnemonic introducing the first seven words in the correct order.

Your new Monero wallet is ready to use!

Import a Monero Wallet into MyMonero

Step 2: Type in the following command to start mining Monero: monerod –mine-on-device

To use an existing wallet, you’ll first need to find it. On desktop or mobile devices, open the wallet app and look for a “Add New Wallet” button. If you’re using a web browser, go to https://www.coinbase.com/ and sign in. Once you’ve found your wallet, enter its address into the “New Wallet Address” field and click “Create Account.” You’ll then be prompted to enter your password. If you’re using a mobile device, you can also scan the QR code shown on the next page. ..

Copy and paste the following mnemonic phrase into MyMonero: MyMonero: M1N4RK3Z8EJFV3LF2X5KP2YTK6V3Q7

Name: Color: Alice’s Blue

Final Words

We hope you find this article helpful. If you have any questions or feedback, please feel free to reach out to us at support@mymonero.com.