It’s widely recognized that using a cold wallet to store your Monero is best practice. It’s fairly simple to use a View Only Wallet to view any incoming transactions to your wallet. What this doesn’t provide is an ability to see outgoing transactions from your cold wallet, and therefore doesn’t show you true wallet balance. While cold wallets are cold for a reason, and it’s not recommended to do this continuously, the following will provide a guide for viewing your true Cold Wallet balance.
Monero wallets can be a bit tricky due to the overarching privacy features built into Monero. Adding levels of security by creating offline, cold wallets can make the use of wallets even more confusing. This guide will walk through the process of creating a “View Only Wallet” using the Monero wallets. WTF is a View Only Wallet? A “View Only” wallet is what it sounds like: a wallet where you can “view” incoming transactions to your wallet.
Hot wallet, cold wallet, view only wallet, online wallet, web wallet; what type(s) are best? Best for you? Most secure? Most usable? Managing and securing your XMR needs to balance “ease of use” with security. This guide will go through the options available, some of the providers for each type of wallet, and a high level recommendation on what may work best for you. TLDR; Maintain a local (on your machine) hot wallet with minimal funds.
In order to use Monero you will, at some point, interact with a Monero full node. A full node is nothing more than the Monero software running and synced with the full blockchain. You can run one of these on your laptop, a small VPS, or use a “trusted” node someone else created. Create your own Remote Node Creating and using your own remote node is an awesome option. You get to support the Monero network, offload the uptime requirements from your personal box to a VPS, and maintain the trust and security by controlling the node yourself.
Monero is private and that’s awesome. But the privacy adds a bit of complexity to the currency environment. Bitcoin uses two keys: a public address and a private key. Pretty simple. Monero has four with some (somewhat) cryptic names. This guide will walk through the different keys, how they are used, and what you need to do with them. Creating Monero Seeds, Keys, and Addresses I’ll use the following values going forward:
If you can build a computer, you can build a mining rig. Mining monero is the best way to accumulate Monero in a truly anonymous manner. You are essentially trading electricity (and the cost associated) for Monero. Additionally, you can gain some cost efficiencies but repurposing the equipment you’ve purchased in the instance where you decide to stop mining. I.e. using a GPU array for machine learning training, or building a virtual lab from your Xeon processors.
Warning: using incorrect, wrong, or bad address will result in the permanent loss of your crypto. Double and triple check your addresses before submitting Warning: Clicking on links to cryptocurrency exchanges, online wallets, etc. can be risky. We’ve done our best to ensure the links in this post are accurate, but as always, use good judgement and critical thought before plugging your creds into any website, especially when using cryptocurrencies
Note: Clicking on links to cryptocurrency exchanges, online wallets, etc. can be risky. We’ve done our best to ensure the links in this post are accurate, but as always, use good judgement and critical thought before plugging your creds into any website, especially when using cryptocurrencies Entering the cryptocurrency space can seem daunting. Luckily, the process for buying/trading/procuring cryptocurrencies has become more streamlined recently, though it can still be a bit tedious.
Troubleshooting Nvidia Graphics Cards Below are some common troubleshooting problems and techniques to get mining working with Nvidia hardware, Nvidia drivers, and Cuda tools. Power Problem: Black screen, OS won’t boot, GPU fan attempts to spin but fails. Solution: - Check all power cables are plugged in tight - Ensure riser is powered (don’t use more than 2x graphics cards per SATA cable. Prefer to use VGA power cables.) - Ensure GPU is powered.
In a previous post we outlined the process for mining Monero using xmr-stak-nvidia. (This tool has been recently superceeded by xmr-stak, an “all-in-one” tools for Nvidia, AMD, and CPU mining.) xmr-stak-nvidia worked great for us for one or two GPUs but when we attempted to increase the quantity, or mix in other Nvidia models, the software became inconsistent and hash rates were significantly reduced. Moving to xmr-stak introduced some new problems, slightly mitigated the initial issues, but ultimately had subpar performance.