Bitcoin loophole Support for the Monero GUI Wallet

Bitcoin loophole Support for the Monero GUI Wallet

HOME CRYPTO ALTCOINS THE LEDGER SUPPORT FOR THE MONERO GUI WALLET
At the beginning of calendar week 27 the Monero GUI version 12.2 was officially released. This means that now also users of the Graphic User Interface Wallet can save their XMR on the Ledger Nano S and Ledger Blue. Peace, joy, pancakes – right? Not quite.

“When GUI? was a comment under the Reddit thread that announced and explained the binary codes for Monero Wallet version 12.2. Based on the now legendary “when Lambo?” and “when Moon?” memes, which have flooded many a Telegram group, this comment made an important point: Although it was possible with 12.2. to use his Ledger Hardware Wallet with Monero, it only worked with the CLI. The Command Line Interface quickly deterred all users who simply imagined using crypto currencies. For many people, using a program via text input is unusual and prone to errors. “So “When GUI?” is the question of a simple and user-friendly software with which you can operate your ledger.

Finally simple hardware usage for Monero and Bitcoin loophole?

On July 3rd the time had finally come. Almost one month after the release of Bitcoin loophole. the GUI v12.2. is now available. Thus the official graphical wallet of Bitcoin loophole supports the hardware wallet of Ledger. However, the first installation is still not as easy as you would like it to be. Plug & Play is a no-no here. Instead, the user must first follow a 15-step guide until he can store his Monero on the ledger.

Of course, it is not impossible to work through these detailed steps, but it is still necessary to execute some commands via command line. In addition, when installing the Monero application for the Ledger, you must click the mouse to display the “Developer Applications” in the lower right corner of the Ledger Manager. You should allow about half an hour to an hour – depending on your personal technical experience – before you can save XMR to the ledger. So this installation is probably not yet suitable for beginners.

However, once the wallet is set up with the ledger, you can access the private keys with the GUI. The ledger must be connected to the computer and the Monero application must be running. Then open the Monero GUI version 12.2 and select the appropriate wallet file. If you have followed the instructions of dEBRUYNE on Reddit or Stack Exchange, you will find the new Ledger Wallet file in the same folder as the GUI 12.2.

An installation without Command Line Interface has already been promised to the users. In the next release of the GUI the time will come. Those who have been following the Monero project for some time know that this may take some time. Nevertheless, the release of GUI 12.2 is a sign that things are moving forward – slowly but surely.

An unpleasant aftertaste

Users must also bite one of two sour apples: Either you export your Private View Key to the computer when creating the Ledger Wallet, or you let the Ledger do the scanning of the blockchain. The first variant has the consequence that the privacy could possibly be compromised. If you have the Private View Key, you can scan the Monero Blockchain for all received transactions. This means that in the worst case you lose the privacy that you have gained from the stealth addresses. The second variant has the disadvantage that the ledger is very slow in scanning the blockchain and may run hot. In other words, if you do not export your Private View Key, you will have to wait longer before you can use the Ledger Wallet. There is no risk of a Monero being stolen.

Comments are closed