Monero is a privacy-focused cryptocurrency allowing you to make private, untraceable transactions. It provides secure decentralized digital cash using blockchain technology.
A cryptocurrency is a digital currency that is secured through cryptography. Transactions occur via a blockchain, which is an immutable, decentralized public ledger.
Monero uses advanced features like Ring Confidential Transactions (RingCT), Ring Signatures, and Stealth Addresses which obscure transaction details.
Download the official GUI wallet from getmonero.org for desktops. Mobile options include Cake Wallet and Monerujo. Advanced users can opt for the CLI wallet.
A paper wallet is another cold storage option with instructions available on the Monero site. Compare risks before choosing your preferred storage method.
Always ensure you are downloading from official or trusted sources to avoid malicious software.
Hardware Wallets: Use an opensource hardware wallet to enhance your security. These devices securely store your private keys offline. The Trezor Model T and Trezor Safe 3 are two compatible options that have been confirmed to support Monero, allowing you to send, receive, and manage your XMR securely. To get started, follow these simple steps:
- Purchase the wallet from the official Trezor website or authorized retailers.
- Follow the official instructions that are specific to your model. This process will involve creating a new wallet and recording the recovery seed.
- Install and use Monero wallet software that supports hardware wallets, such as the official Monero GUI or CLI wallets.
- Connect your Trezor wallet to your computer and use the Monero software to integrate the hardware wallet with your Monero account.
- Execute transactions with Monero using your Trezor wallet. The device will handle all cryptographic operations, ensuring your keys remain secure.
Remember to store your recovery seed in a secure location. It's the only way to restore your wallet if your hardware device is lost, damaged, or if the PIN is forgotten.
Follow the wallet setup guide. Choose a strong password and carefully write down the 25-word mnemonic seed phrase.
Major cryptocurrency exchanges like Kraken and Binance allow direct purchases of XMR with USD, BTC, EUR, and other currencies. These require account registration with varying levels of Know Your Customer (KYC) identification. Consider privacy implications as exchange KYC affects anonymity.
Decentralized peer-to-peer platforms like LocalMonero allow arranging trades between buyers and sellers. Payment methods include cash, money transfers, and even gift cards. Transactions done in-person or by shipping cash carry minimal identity exposure.
Other P2P platforms are Bisq (requires BTC) and OpenBazaar. Carefully vet trading partners and take precautions before sending irreversible payments.
Alternatively, you can obtain Monero by participating in the community:
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Mining: Anyone can mine XMR with consumer hardware to secure the network and earn block rewards.
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Jobs & Services: Offer products, freelance services, or lease CPU/GPU power in exchange for XMR payments. Browse options in the Services subforum.
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Tips & Content Creation: Share insightful content, help answer new user questions, or contribute to Monero projects. This builds reputation and community members may donate XMR as a thank you.
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Airdrops & Faucets: Occasionally there are faucet drops where small amounts of XMR are distributed for free to introduce new people to Monero.
Earning through community participation takes more effort but avoids extensive identity disclosure and supports decentralization.
Verify the recipient's address and transaction details before confirming transfers. Monero obscures details through cryptography, providing untraceability.
Follow official channels like r/Monero and consider setting up notifications for development updates.
- Securing the Wallet: Reference the User Guides for security best practices from official Monero documentation. If using a hardware wallet, follow the manufacturer's instructions for setup and backup.
- Enhancing Privacy: Use VPNs or Tor when conducting transactions to hide your IP address. Be mindful of metadata leakage from wallet apps on phones. Avoid address reuse and understand the implications of transaction linkability.
- Verifying Binaries: Ensure the software you download is legitimate by checking PGP signatures.
- Remaining Anonymous: Consider the implications of associating your real identity with transactions and balances on exchanges and peer-to-peer platforms. Use encrypted messaging for sensitive communications.
- Operational Security: Use strong unique passwords, enable 2FA on exchange accounts, and be cautious about phishing attempts.
- Running a Full Node: If possible, run a full Monero node to support decentralization and have the most up-to-date blockchain data. Refer to the Run a Monero Node guide.
- Avoiding Custodial Services: Be cautious of custodial wallets and services that undermine Monero's privacy benefits. Use non-custodial wallets whenever possible.
- Updating Software: Keep Monero software updated to have the latest features, bug fixes, and security enhancements.
Regularly update yourself on Monero's technological advancements.
XMRGuide.org is a dedicated resource for setting up a Monero wallet on Tails, a live operating system aimed at preserving privacy and anonymity. It provides detailed installation guides for Monero wallets on Tails, troubleshooting help, and a list of .onion remote nodes with status information. This guide is particularly useful for users looking to enhance their privacy and security with Tails. Bookmark or save the guide for easy reference.
Resources include:
- Syncing issues: Try changing remote nodes
- Transaction questions: Verify on XMRchain
- Other questions: Visit Monero SE
To learn more about Monero development and potentially contribute:
- Explore the official Monero GitHub repositories
- Join development discussions on IRC channels
- Read Monero Research Lab publications
- Participate in the Monero Debugging & Testing subforum
Mining is the process of using computer hardware to perform mathematical calculations for the Monero network to confirm transactions and increase security. In return, miners are rewarded with newly created Monero. There are two main ways to mine Monero: solo mining and pool mining.
Solo mining involves setting up your own Monero node and mining software to mine Monero directly. This method offers the full block reward but can have inconsistent payouts and requires more technical setup.
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Set up a Monero node: Download and sync the full Monero blockchain by following the Run a Monero Node guide.
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Configure mining software: Install and configure mining software such as XMRig or XMR-Stak. Refer to their respective documentation for setup instructions.
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Start mining: Launch the mining software and input your Monero wallet address to start solo mining.
Pool mining involves joining a mining pool to combine your computing power with other miners and share the block rewards proportionally to your contributed hash power. This method provides more consistent payouts and requires less technical setup.
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Choose a mining pool: Select a reputable Monero mining pool such as MineXMR, SupportXMR, or MoneroOcean.
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Create a pool account: Register an account on the mining pool's website and obtain your unique miner ID or wallet address.
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Configure mining software: Install and configure mining software such as XMRig or XMR-Stak. Input the mining pool's URL, port, and your miner ID or wallet address.
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Start mining: Launch the mining software and start contributing your hash power to the mining pool.
For more detailed information on mining Monero, refer to the following resources:
While Monero is designed for privacy and security, no system is entirely risk-free. Stay informed about potential vulnerabilities and best practices for maintaining your privacy and security.
It is important to stay informed about the legal status of cryptocurrencies, especially privacy coins like Monero, in your jurisdiction.
We welcome contributions to improve this beginner's guide!
To suggest improvements:
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Open an Issue: Describe your proposal and discuss with the community
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Fork Repository: Fork to edit the markdown files
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Open Pull Request: Explain your changes for review
We will provide feedback on pull requests and merge accepted changes. Please use GitHub Issues to propose any updates or ask questions before contributing directly.