A view-only wallet is a special type of wallet that can only see incoming transactions. Since it doesn't hold your mnemonic seed and private spend key, it can't sign transactions and it can't see outgoing transactions. This makes them particularly interesting for
View-only wallets cannot sign transactions, therefore they can't spend a balance alone. However, they can be used as part of an offline transaction signing, by creating unsigned transactions to be signed offline in a cold device, and later by sending the signed transaction to the network.
If your wallet has outgoing transactions, the balance displayed will not be correct. To get a correct balance in a view-only wallet, you have to import the accompanying key images of each output of the wallet.
You can also create a view-only wallet of a hardware wallet, however this kind of view-only wallet doesn't support offline transaction signing and importing of key images.
In order to create a view-only wallet, you must either have access to a wallet or know the main address and the private view key from a wallet.
Open an existing wallet and type
viewkey commands to display the wallet's address and its private (secret) view key. Type
exit to close the wallet.
Next, create your view-only wallet by typing
monero-wallet-cli --generate-from-view-key wallet-name. The last argument will be your new wallet's file name. You will be prompted for
Standard address and
View key by the wallet. Paste in your original wallet's address and private (secret) view key. Next, enter and confirm a password for your new wallet.
If you have access to the existing wallet, open your wallet and go to the
Create a view only wallet >
Create wallet. The view-only wallet file will be created within the same directory and using your current password.
Optionally, double-click the
Success windows to copy the message, then click
OK to close it:
If you don't have access to the existing wallet, you can create a view-only wallet by knowing the wallet's main address and its private view key.
In order to do that, go to the main Menu and click on
Restore wallet from keys or mnemonic seed:
Enter a name for you view-only wallet file. Optionally, you can change the file location.
Restore from keys.
Account address (public) field, enter your wallet's main address, which starts with 4.
View key (private) field, enter the private view key of your wallet.
Spend key (private) field blank.
Next to create your view-only wallet file.