Monero (XMR) Best Practices
for Privacy & Security
1
Use Official Wallets
Always use the official Monero wallet (GUI/CLI) or trusted mobile wallets like Monero.com https://monero.com/ (Cake Wallet https://cakewallet.com/) or Monerujo https://www.monerujo.io/. Download from the official website: https://www.getmonero.org/
2
Keep Your Wallet Updated
Always use the latest version of your Monero wallet to benefit from security updates and bug fixes.
3
Control Your Private Keys
Self-custody is key. Always have control over your private keys and back up your seed phrase securely in multiple locations.
4
Use Proper Network Security
When transacting use a VPN (IVPN https://www.ivpn.net/, Mullvad https://mullvad.net/) or Tor https://www.torproject.org/ to enhance privacy. Avoid public Wi-Fi networks when accessing your Monero wallet.
5
Minimize Address Reuse
Always use a new address for each transaction. Monero automatically generates new stealth addresses, this helps you stay anonymous.
6
Avoid KYC Exchanges
Prefer decentralized exchanges or P2P platforms that don’t require KYC. Platforms like Bisq https://bisq.network/ and Haveno https://haveno.exchange/ can help you trade privately. Find more https://kycnot.me/?t=exchange&q=&xmr=on
7
Practice Good OpSec
Be cautious of linking transactions to your identity. Don’t send Monero directly from an exchange to your personal wallet. Use a proxy wallet.
8
Regularly Check Transaction Privacy
Use the view key sparingly and stay informed about potential privacy leaks. Conduct audits if needed.
9
Education & Vigilance
Stay updated with the Monero community for the latest best practices and security advisories. Knowledge is power. Good starting point is https://libereco.xyz/resources/
10
Consider Cold Wallets
If you hold a significant amount of XMR, consider using a cold wallet. More infos see https://libereco.xyz/monero-cold-storage-with-feather-anonero/ and https://web.archive.org/web/20240518195127/https://localmonero.co/knowledge
12
Run a Full Node
Running your own Monero node helps increase your privacy and strengthens the network. Plus, it’s great for decentralization. Great tutorial from @Seth For Privacy here: https://sethforprivacy.com/guides/run-a-monero-node-advanced/
13
Stay Anonymized When Converting
When converting XMR, use P2P platforms like UnstoppableSwap https://unstoppableswap.net/ or BasicSwap https://basicswapdex.com/. Preserve your anonymity.
14
Legal Awareness
Stay informed about the legal environment in your area regarding cryptocurrencies, especially Monero (e.g. MiCA for EU).
15
Post-Mortem Planning
Ensure there’s a privacy-preserving plan in place for loved ones to access your Monero in the event of your death.
Agreed partially.
6. Partially. Depending on the strategy it might be interesting to have KYC. After all #monero is a boat accident waiting to happen.
10. The problem with the cold wallets I tried, is that you can’t prove payments since you can access the transactions key, so careful here.
Yep ledger has all your transactions. If sparrow works with a ledger, then is there a 3rd party wallet for the ledger hw monero app?
It works fine with the monero-cli and I guess also with the monero-gui. One solution is to transfer first out of the hw. In any case I’m not a great fan of the hardware wallets for #monero