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Securely storing a large amount of Monero (XMR)

snijers

New member
Apr 14, 2018
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Guys,

I was holding large amounts of crypto on exchanges. I've been mostly into Monero because of the anonymity aspects. Now I realize it's a terrible idea to keep large sums in exchanges so I went looking for alternatives. I wanted to do this right, in a way it is impossible to get hacked. After some research I've come to the conclusion that cold storage (completely disconnected from the Internet) is the way to go.

First attempt: installing the official Monero client on an airgapped PC. This didn't work out, the software is horrendous to use and only seems to run on a machine connected to the Internet. (Offline I just keep getting deamond errors).

Going with the ledger hardware wallet. No luck, it's not in the list of supported coins and the 'hacks' around this seem a bit too complicated.

Last option, simple paper wallets. This seems the best option so far for long term holding. After loading the page, I did disconnect my Internet and generated my keys while offline, and printed them from a USB stick while staying offline. So far so good, but at one point I will want to spend them...

So here comes my question: does anyone have a experience with signing Monero transactions completely offline? I know it's possible in the bitcoin world by using Electrum for an airgapped computer...
 
Using Ledger Nano S is not that difficult at all. It used to be, but it's not anymore (and Monero IS on the list that you linked, i don't know why you would say it's not)
1. Install Monero app on ledger
2. Install Monero gui from Monero website. Connect ledger to pc and start monero app on ledger. Then start monero gui installer on your pc. During installation it will ask you to create a new wallet or to open wallet with Ledger. Use that option and follow prompts.
Ledger website even has detailed guide - Monero (XMR)