Monero (XMR) is one of the first anonymous coins in the world. Combination of anonymity and high decentralization made Monero extremely popular among miners.

The profitability of XMR mining is stable and predictable.

Monero (XMR) can be exchanged on MEXC, KuCoin, Gate.io.

We will discuss two methods to create a Monero coin wallet:

• Online MyMonero Wallet.
• Exchange.

We do not recommend mining to exchange. If you choose mining on an exchange, you do so at your own risk. Not your keys — not your crypto!

How to register at online MyMonero Wallet

MyMonero is a simple and secure web wallet for XMR created by the developers of Monero.

This method is convenient for those who prefer to keep all their money in their own wallet and rarely exchange cryptocurrency. An online wallet, protected by a password and a seed phrase, will store your coins until you transfer them to another address.

Some cons: The security of your wallet relies on the security of your computer and the safety of the seed phrase. To ensure maximum security, protect your computer, create a strong login password for your wallet, and securely store your seed phrase.

1. Open the MyMonero website — https://wallet.mymonero.com/

2. Click “Create new wallet” button;

   

3. Read the recommendations, tick "GOT IT!" → click "Next";

   

4. You will receive a secret phrase — a combination of 25 words. Safely keep them in the same order as they appear on your screen. Losing them means losing access to your wallet! Then click “Next”.

   

5. The wallet will check how well you remember your seed phrase and word order. Enter the words in the correct order for confirmation. Then click “Confirm”.

   

   Reminder! The one who owns the seed phrase of 25 words — owns the wallet!

6. The wallet is now open and ready to use! Click on the wallet icon to get the wallet address. Click on the "Copy" button next to the wallet address to copy it. You can then use it to mine or receive coins in your wallet.

   

How to Register a XMR Wallet on the Exchange

This method is convenient because you don’t need to register multiple wallets. Everything is stored on one exchange, and all coins and wallets are easily accessible. You can immediately exchange or trade your cryptocurrency without any hassle.

Some cons: The security of all your exchange wallets depends on the security of your exchange account. To ensure the utmost security, make sure to secure your email, exchange account, and enable two-factor authentication (2FA).

Keep in mind that sometimes exchanges change the address for depositing cryptocurrencies. The pool will not be able to change the address to which you are mining, so some of the cryptocurrency may be lost.

1. Register at any exchange that provides the option to trade Monero (MEXC is used in the example);

2. After signing up, select "Wallet" → "Deposit";

   

3. Select "Select Crypto → XMR", "Network → XMR", get "Deposit Address";

   

4. Done! You have got the wallet address for deposits to the exchange. Start by clicking on the icon next to the wallet address to copy it. You can then use it to mine or receive coins to your wallet.