The view only wallet has been created with the same password as the current wallet. You can open it by closing this current wallet, clicking the "Open wallet from file" option, and selecting the view wallet in: %1 You can change the password in the wallet settings.
This mode is ideal for managing small amounts of Monero. You have access to basic features for making and managing transactions. It will automatically connect to the Monero network so you can start using Monero immediately.
This mode will use a remote node whilst also syncing the blockchain. This is different from the first menu option (Simple mode), since it will only use the remote node until the blockchain is fully synced locally. It is a reasonable tradeoff for most people who care about privacy but also want the convenience of an automatic fallback option.
To be able to communicate with the Monero network your wallet needs to be connected to a Monero node. For best privacy it's recommended to run your own node.
To be able to communicate with the Monero network your wallet needs to be connected to a Monero node. For best privacy it's recommended to run your own node. If you don't have the option to run your own node, there's an option to connect to a remote node.