Why would I want to do this?
- You want to keep track of the balance and transaction history of an account
- You want to keep your private keys completely air gapped (offline) but still want to track the balance(s)
Read Only accounts in XUMM (accounts imported by r...-address, without importing a secret key / mnemonic / Secret Numbers) can NOT be used to sign transactions.
You will not be able to sign transactions and requests for read only accounts.
Please note: adding the public account address (starting with a lower case "r") of an exchange does not allow you to track your virtual exchange balance by destination tag! There is no use in adding an exchange / shared address as a read only account.