By now you know I prefer keeping my cryptocurrencies secure with the Ledger Nano S. When it comes to Monero, it’s not possible to access your balance from the Ledger interface, but instead you have to connect your Ledger with the official Monero wallet.

And that’s where all the troubles began for me. At the writing of this review, the Monero wallet is at version 0.14.0.0

  1. The official wallet needs maintenance, outside of Ledger. That means you have to keep your Monero wallet updated otherwise it might not work properly: you can’t log in, your transactions don’t show up, it doesn’t connect to any remote nodes and these are only the issues I experienced personally. That means you have to constantly check for updates, which are not handled in-app.
  2. When using a remote node it’s mostly full of bugs. It takes forever to sync with the blockchain and you can’t make any transactions until that’s finished. If it happens that the wallet crashes (which happened many times for me) it looks like the sync starts from the beginning and it can take a long time depending when was the last type you synced your wallet. I was usually accessing it once per month and it would take at least an hour.
  3. All the issues previously mentioned could be avoided if you host a local node. That means hosting a 70GB blockchain (and constantly growing) on your computer. I decided to move all my funds from this wallet to a third-party one and because I didn’t know the master seed of my Monero Ledger Wallet, I downloaded and synced a full node. It took me 3 days on a high-end computer to finally sync and move my balance to a different wallet.

Maybe there’s an easier way to work with the official Monero wallet, but it’s not intuitive. And that’s why I’m expecting from such a service. If we want mass adoption, the wallet should be easy to use and intuitive, making transactions without hassle. If it takes me 3 days to send a transaction, I’m going to choose a better alternative.

The better alternative for me is the Android wallet called Monerujo. It has an easy to use interface, it still needs to sync but it happens in a matter of seconds and so far it has everything I would expect from a wallet. I’ll keep this post updated as I’ll experience more of it.

Another choice would be MyMonero and if it had an Android version I would probably test that too. If you are using an iPhone this can be a good alternative for you.

I would love to know if my experience helped you.

Your friend,
C.

Categories: AltcoinsWallets

Crypto Grubber

DISCLAIMER: I'm a crypto enthusiast and I believe the blockchain and cryptocurrencies are here to stay and make a big impact on the world. However, the advice here given is not financial advice even though my excitement might make it look like such. The content on this website represents my personal opinions that are for educational purposes only. Trade and invest at your own risk.