Should I have a cold wallet AND a hot wallet at all? Like, should I for example use a hardware wallet to receive, mine, and send Monero, instead of having more wallets?
Should I make a paper wallet with the app that can be downloaded to make offline wallet keys? Then how would I see balance, sign keys, etc.?

For BTC, even though I never actually used it (never got BTC), I saw Electrum like this:

Create wallet in offline device
Export view key to online device
Create TX in online device
Sign TX in offline device
Broadcast TX in online device

But for Monero I’m clueless, because I haven’t found any guide properly explaining it.

  • shortwavesurfer@lemmy.zipEnglish
    2·
    2 days ago

    Have a hot wallet for your phone where you keep a bit of Monero, say 1 for example. Then you can use something like cupcake and cake wallet/monero.com to make a cold wallet. You should mine with a wallet specifically dedicated just for mining. Once you have some transactions in that mining wallet, you can sweep them all into your main wallet.

    • wereg@lemmy.worldOPEnglish
      1·
      2 days ago

      And on a different reply (in case you see the other comment before I edit it)

      • What is the difference between Cake Wallet and Monero.com?
      • Do you have any reccomendation for hot wallets?
      • Could hardware wallets have any role in it (for the mining wallet, or for the hot wallet, or as an alternative to Cupcake and CakeWallet/Monero.com?
      • shortwavesurfer@lemmy.zipEnglish
        2·
        2 days ago
        • Monero.com is the same as Cake Wallet, except that it’s stripped down to only have Monero support and not Bitcoin, Ethereum, etc.
        • Hardware wallets don’t work super well in Monero yet because of the way view keys work. When FCMP and Carrot come in to play later on with the new hard fork, hardware wallets will begin working better.
        • As far as mining goes, mine to a separate hot wallet, and then, once you get some mining done, take those funds and sweep them to either your hot wallet or your cold wallet. It doesn’t really matter. What does matter is that you need a specific wallet that only is for mining and nothing else.

        Monero.com makes a good hot wallet, but i prefer Monfluo personally as its totally Monero with no fiat APIs, swaps, etc. It’s very similar to your physical wallet that you have in your back pocket with cash in it. That’s all it does. It followes the unix philosophy of do one thing and do it super well.

        • wereg@lemmy.worldOPEnglish
          1·
          2 days ago

          I will set it up like that, try out the apps, and learn more about Monero to know what “FCMP” and “Carrot” mean. Thank you so much!

    • wereg@lemmy.worldOPEnglish
      1·
      2 days ago

      Then you can use something like cupcake and cake wallet/monero.com to make a cold wallet

      How does this work? I assume its like this: use an old phone with no access to internet for cupcake, then link my view key on cake wallet/monero.com, then when I’m gonna spend /send XMR, scan a QR code in the cupcake app?

      You should mine with a wallet specifically dedicated just for mining. Once you have some transactions in that mining wallet, you can sweep them all into your main wallet. So, a hot wallet for mining?

      If my asumptions are correct, the setup would be

      • Unconnected phone with Cupcake and my mnemonic phrase and private keys
      • Secure phone with Cake Wallet/Monero.com app to actually move the XMR
      • Hot wallet for spending
      • Hot wallet for mining, then sending to cold wallet Am I correct?