Monero FAQs - Learn more about XMR
Everything you need to know about Monero inside of Exodus.
In this Article:
General Monero Questions
Monero Advanced Options
How do I open the Advanced Options?
To open the Advanced options on desktop or mobile, all you need to do is open your Monero wallet on your device, then:
Sync in progress
In order for your wallet to quickly display your transaction information correctly, it must stay in continuous sync with the XMR blockchain. This applies to all assets in Exodus, however, Monero is a privacy coin and when the wallet is refreshed, the past transaction history displayed in the wallet is not maintained. When you refresh or resync the wallet to the Monero blockchain it will rebuild your transaction history as the wallet finds the information.
To help visualize this process the wallet displays a graphical indication of the sync progress along with:
- Remaining blocks: How many blocks left until the wallet is fully synced
- Wallet Height: the current height or current block the wallet is synced to
- Node Height: The current block of the connected node.
This information can be used to see if there's a problem with either the node or the connection of the wallet to the node.
Connecting to a Custom Node
Exodus uses a default node to connect to in order to populate the information in your wallet. Many XMR users prefer to run their own nodes to participate in the Monero network. Exodus allows you to enter a Custom Node of your choosing.
- Click Set Custom Node.
- Enter your Monero Custom Node URL.
- Click Save then refresh the wallet.
- Tap on the advanced options gear icon in the top right of the Monero wallet.
- Tap the toggle to turn on Custom Node.
- Enter your Monero Custom Node URL.
- Tap Confirm.
Monero Key Types
To find all of your Monero Keys, just go to your Monero wallet inside of Exodus on your desktop, then click the three dots in the top right corner and choose View Private Keys.
|Monero Address||When sending Monero, the only thing necessary is the Monero address you will be sending to. Monero addresses are much longer than Bitcoin addresses. An address for Monero will have 95 characters and be prefixed with a 4. Unlike Bitcoin addresses that are hashed from a single key pair, Monero addresses are direct representations of the associated public keys.|
The Monero wallet has its own 25-word recovery phrase. Although your Exodus 12-word phrase will always be able to recover all of your assets, this 25-word phrase is specific to your Exodus XMR wallet should you wish to only move your Monero wallet someday. Due to Monero's privacy features, both the view key and spend key have their own private keys associated with each, hence your private spend key and private viewing key. In a mnemonic style set of keys, your private view key is derived from the private spend key.
By storing the 25-word mnemonic key in a secure location, you have a backup of your private keys and all of your Monero
|Private View Key||
The private view key is required to view all transactions related to an address. The Monero blockchain data associated with your address is not publicly viewable. In order to view any information associated with a transaction of yours, the private view key is required.
|Private Spend Key||The private spend key allows the spending of any Monero at an associated address. This key is used to sign Monero transactions. Unlike a private view key, the private spend key should never be given out to anyone. If someone were to obtain your private spend key, they would then have access to spend any of the Monero associated with the address.|
Monero Address Questions
How do I create a new Monero Subaddress?
By default for new Exodus wallets, when you open your Monero wallet inside of Exodus and click Receive you will be shown your Monero Address.
Monero Subaddresses allow you to receive Monero to a different address each time, allowing you to have even more privacy!
To turn on Multiple Subaddresses:
- Open your Monero wallet on your desktop or mobile device.
- Desktop: click the three dots in the top right corner and click on Advanced Options.
- Mobile: tap on the advanced options icon in the top right corner.
- Locate where it says Multiple Addresses and toggle on.
Next time you want to receive Monero, all you need to do is click/tap the arrow next to the QR code to reveal an unused Subaddress!
Sending/Receiving Monero Questions
How do I view my Monero balance on the blockchain?
The short answer is, you can't!
Monero is considered a privacy coin and therefore transaction details will be hidden for anyone looking on the block explorer with only the Monero address. You can however look up specific Monero transaction details.
How do I look up a Monero transaction?
Exodus allows you to see individual transaction details inside your wallet as well as look up individual transactions on the blockchain as individual transactions, but not their amounts or the addresses involved. To find more information please read on!
Go to a Monero Block explorer such as Explore Monero. You will want to verify a transaction.
|If you want to verify you sent some Monero you will need:|
|If you want to verify you received some Monero you will need:|
10 Confirmations requirement
You will need to wait for 10 confirmations for your received Monero before you are able to send it.
What this means is your Monero is locked until it is mined in a block and then a certain number of subsequent blocks have been mined afterward to be confirmed. In Monero's case, wallets keep the funds locked for 10 blocks.
Say you have a balance of 10 XMR.
One spendable output of full 10 XMR:
In this example when you send 2 XMR to someone, this whole 10 XMR output gets used and the change comes back to you in a new output. Let’s say your fees were 0.01. Your transaction, therefore, sends one output with 10 XMR, and has 2 outputs, one for 2 XMR (the recipient) and one for 7.99 XMR (your change). Because the transaction needs to be confirmed, your change (7.99 XMR), will be locked until it has 10 confirmations.
Two or more spendable outputs of 3 XMR and 7 XMR:
If the original balance was spread over 2 spendable outputs and you just want to send 2 XMR, only one of those outputs would be used, say the 3 XMR output. That means only your change left over from just the 3 XMR output would be& locked until 10 confirmations. The other output of 7 XMR is untouched and would not be locked and would be free to spend straight away. Only what is spent needs to wait for 10 confirmations.