Most people on Stacker News only know Bitcoin.This tutorial shows how to correctly set up Monero (XMR) one of the most different cryptocurrencies and how to receive funds safely without losing them.Most people on Stacker News only know Bitcoin.This tutorial shows how to correctly set up Monero (XMR) one of the most different cryptocurrencies and how to receive funds safely without losing them.
What Makes Monero Different
•Transactions are private by default•Sender, receiver, and amount are hidden•No public address balance tracking•Not Lightning, not Bitcoin, not transparent
Monero Wallet
Because of this, setup mistakes can mean lost funds.
Step 1: Choose the Correct WalletStep 1: Choose the Correct Wallet
Best beginner + secure option:
Monero GUI Wallet (Official)
Why:
•Full control of keys•No third party custody•Works on desktop (Windows, Linux, macOS)
Avoid:
•Random APK wallets•Web wallets•“Cloud” Monero services
Step 2: Create the Wallet (Critical Part)Step 2: Create the Wallet (Critical Part)
When creating your wallet you will get:
•25-word seed phrase•Primary address•Restore height
DO THIS:
•Write the seed on paper (not screenshots)•Store offline•Never share it
If someone has your seed → they own your money.
Step 3: Understand Addresses (Very Important)Step 3: Understand Addresses (Very Important)
Monero has 3 ways to receive funds:
1.Primary Address
•Safe for personal use•Reusable but less private
2.Subaddresses (Recommended)
•Generate a new one per sender•Best privacy•Funds still go to the same wallet
3.Integrated Address
•Old method, mostly obsolete•Not recommended today
Use subaddresses whenever possible.
Step 4: Receiving Monero CorrectlyStep 4: Receiving Monero Correctly
To receive funds:
1.Open wallet
2.Go to Receive
3.Generate a new subaddress
4.Copy address
5.Send to payer
⚠️ Do NOT close the wallet immediately after receiving Monero needs time to:
•Sync•Scan blocks•Unlock funds (~20 minutes)
Step 5: Common Mistakes That Lose FundsStep 5: Common Mistakes That Lose Funds
•Sending before wallet is fully synced•Using wrong restore height•Deleting wallet without seed backup•Trusting mobile APKs outside official sources
Why This Matters
Monero is what Bitcoin used to feel like:
•Peer-to-peer•Private•No permission
Understanding how to receive funds correctly is the difference between owning crypto and losing it silently.
Discussion
For Bitcoiners here:
Do you think privacy coins like Monero will become more important as regulation increases, or will Bitcoin privacy tools be enough?
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so much privacy advice from a guy that uses the most crapiest KYC custodial wallet
Idiot I don't care what you say