Using The Monero GUI Wallet

Overview

The Monero GUI wallet looks more complicated than it is, though many of the features most users won’t need to worry about.

When the wallet is first opened and it finishes syncing (bottom left corner), the balance will be shown. The Monero GUI wallet requires 10 confirmations before making Monero spendable. Monero that is spendable is listed under “Unlocked Balance”.

On the left side side underneath the balance is the wallet’s features. This allows a user to choose what they want to do from receiving and spending Monero, to changing the settings of the wallet.

The right side of the window is the currently selected feature, as shown in the image.

 

 

Send

The wallet will open on the send page, allowing Monero to be easily sent to friends, an exchange, or business.

Amount – The amount of Monero to be sent

Transaction Priority – Set the fee for the transaction (when the network is busy, it is recommend sending with a higher priority)

Address – The Monero address being sent to

Payment ID – Used for identifying and proving a transaction. This is needed when sending Monero to an exchange. Be sure to include it.

Description – A description of the transaction to be saved within the wallet for reference (eg. groceries, paying Tom back).

Be aware: Creating a transaction can take some time depending on the computer being used.

Receive

Clicking receive will give show all the public addresses the wallet has generated. Giving out these addresses is how Monero is received to the wallet, any of them will work.

Clicking on Advanced options will show a QR code representing the public address and allow a custom amount of Monero to be requested from someone.

Clicking on Tracking will allow the wallet to watch for that specific transaction and ignore waiting for confirmations to display it. It is meant for storefronts so they can see when their customer has paid sooner.

History

The history page will show all past transactions, both sends and receives.

Advanced

The Advanced Menu contains things 99% of users won’t ever need to touch but it’s still nice to be able to know at least what these things do.

If the wallet has been set up as a full node it can solo mine with the computer’s CPU. While this may be an option, the wallet is not the best way to mine. Joining a mining pool to combine mining power with others will raise the likely hood of getting a reward.

Use this tool to prove whether a given transactions was received or sent from a specific wallet. This would be used in the case of disputes between a business and consumer or two vendors in a dispute over payment.

This tool allows better control over the privacy of transactions.

Blackballed Outputs – Specify which outputs on the blockchain are known to be spent/bad and not to use them in the ring signature of a transaction.

Rings – This tool helps reuse the same ring from other transactions. It is meant to be used in the event of  an unsafe chain split of the Monero blockchain.

This tool is used to prove that someone is the the owner of some message or file via a wallet’s private key. If there was a top secret document sent to someone, and they wanted to know it hasn’t been tampered with since last saved it. They would do what’s called “signing” which means combining the file and public key up to get a “signature”. The person who received the file can then “verify” the file using the file and signature and know it hasn’t been tampered with.

Settings

Will log out of the active wallet and allow the user to create or restore a new one. Be aware: This does not delete the wallet from the computer. Be sure to add a password to the file so others can’t get in.

Creates a wallet so others may view the transactions in but are not able to spend from it. This would be useful for auditing businesses or watching a child’s spending habits without having any control over the funds themselves.

Displays the wallet’s seed and private keys. Be careful not to do this around people. Anyone who gets the seed or private key will be able to spend Monero without the owner’s permission.

Rescans the blockchain for transactions associated with the wallet. This can only be used with a full node. Use this only if your balance is displaying the wrong balance compared to transactions going in and out.

Node

This screen will allow adjusting the settings of the wallet and whether it’s a local or remote node. See the status of the Node in the bottom left corner of the wallet.

A full node is a wallet that downloads the entire Monero blockchain to share with others and help keep the network secure against someone trying to create fake transactions/blocks. The only requirements of running a full node is about 60 – 80 GB of space on your computer. This is the most secure option of using the wallet.

A light wallet is a wallet that connects to someone else’s full node to use their blockchain to check for incoming and outgoing transactions. This option doesn’t require the blockchain to be downloaded and is much faster to get up and running. However, the user does have to trust the node they are connecting to. If this option is chosen just leave the default option there or Google “Monero remote node” to find some more nodes to connect to.

Log

The log is a more advanced way of controlling the Monero wallet. Type in “help” and press enter to see what kind of options are available. If they don’t make sense, look them up online to find out what they mean and if it’s safe to experiment with them.

Info

The info page shows:

  • The current version of the GUI wallet
  • The version of the Monero network the GUI is using
  • Where the wallet file is stored
  • What block the Monero blockchain was on when the wallet was created
  • The location of the “log” file, something to share with someone who was trying to help troubleshoot the wallet.

Conclusion

The official Monero GUI wallet may not be the easiest or the prettiest wallet out there but it sure is feature packed and gives great control over a users Monero! After sending and receiving a few times a user will be familiar with the core functionality. Click below to find out where to get Monero to add to the wallet now!

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