If you haven`t heard of Monero before, read the FAQ on this website first. The current course development of many crypto currencies provides for increased positive tendency with the investors. Thus also Bitcoin could win in the last days strongly in value, which is to due perhaps also to the recent news. Thus the world-wide acting payment offerer PayPal announced that it will offer Bitcoin and other crypto currencies for purchase starting from the first quarter 2021. Monero (XMR) is also currently profiting very strongly from the positive mood and was able to climb to the highest value in the last 2 years.
- Monero (XMR) share price development 2020
- Buy Monero (XMR)
- Conclusion: Privacy is a decisive factor
Monero (XMR) has been in a stable upward trend for quite some time. As one of the few digital currencies with a focus on privacy and anonymity, it is the first choice of many customers. Although it is often said to be linked to illegal activities, Monero (XMR) is a solid project. Its features make it stand out from other currencies and offer great potential for the future.
Digital currencies are considered to be a beacon of hope for the upcoming digitalization. Due to the wide range of applications of different tokens, they can be used and adapted individually. Many areas of the economy could benefit from this, including Industry 4.0 and the Internet of Things. Many established companies have already spoken out in favor of crypto-currencies and the block chain, which is gradually increasing public understanding.
Monero (XMR) Price development 2020
At the beginning of 2020, Monero (XMR) dated at a rate of 45 US dollars. By mid-February, this had already doubled and at times exceeded USD 90. As a result of the corona crisis, Monero (XMR) also had to record a sharp decline and fell to a value of up to 30 US dollars. A stable upward trend then began and the share price reached the US$ 130 mark in October 2020. This is the highest level since July 2018 and raises the hopes of many investors. The previous high had previously been reached in January 2018, when Monero (XMR) briefly broke through the USD 540 mark.
Monero (XMR) currently has a market capitalization of around USD 2.3 billion and is thus one of the largest crypto currencies. With 17.7 million units in circulation, the current price is 130 US dollars. The prices are also available in real time at Tradingview. There you can also create useful charts for technical analysis. With approximately $20 million in trading volume, Binance-Altcoin-Exchange is the most popular trading venue for investors.
Why is Monero (XMR) so popular?
Monero (XMR) is considered the most secure crypto currency in terms of anonymity. While Bitcoin and other projects use a transparent block chain, transactions with Monero (XMR) can be completely anonymous. This makes it interesting for sensitive payment transactions, such as political donations or private purposes. However, since there is also the possibility of illegal activities and payments in darknet, the project is often criticized. It is also used in many online casinos, because it is much more anonymous than providers like mBit Casino on this website, which only accept BTC.
Although other projects also offer the possibility of private transactions, many of them are not considered secure. By certain procedures many of the algorithms can be cracked and the transaction is thus traceable. Monero (XMR), on the other hand, uses so-called ring signatures, which completely conceal the sender, the recipient and the sum of the transaction.
“Monero (XMR) is a decentralized, block-chain-based crypto currency, comparable to Bitcoin. Unlike Bitcoin, however, Monero places a stronger focus on the privacy or anonymity of its users. – Wikipedia
Also for Miner the crypto currency is interesting and enjoys rising popularity. The algorithm used here, called Crypto Night, not only relies on computing power, making conventional computers suitable for mining. Bitcoin, for example, prefers participants with a lot of computing power, which can easily lead to monopolies in the production process.
Criticism and regulation
The U.S. Internal Revenue Service (IRS) recently announced a bonus for anyone who can provide transaction tracking solutions. Since Monero (XMR) is currently considered the most secure option for anonymous payments, most payment transactions are made using it. This also applies to payments that are linked to organized crime.
Likewise, the European law enforcement agency Europol had classified many private crypto currencies as a major threat. This is stated in a report of the 2020 Internet Organized Crime Threat Assessment.
Buy Monero (XMR)
Monero (XMR) has consistently been one of the most popular and largest crypto currencies. This is also due to a strong community that is involved in the project. The developers are also among the best and form the basis for success. Since its inception in 2014, the project has grown steadily and integrated numerous new features. This also resulted in strong price gains, which makes the currency very popular with investors.
Numerous reputable stock exchanges have listed the crypto currency and offer trading with it. Usually the marketplace with the highest liquidity is also the best choice. Before investing in crypto currencies, however, investors should always consider fundamental analysis to know the economic data of the project. Technical analysis and sentiment analysis are also important tools in the valuation of asset classes.
In order to increase security, crypto-currencies should never be stored permanently on a stock exchange. These often represent an increased risk and can have security gaps. Up to now, several stock exchanges have already fallen victim to a cyber attack, which resulted in the theft of customers’ credit balances. The most secure variant here is a wallet, which stores the investment offline.
Conclusion: Privacy is a decisive factor
Crypto-currencies with focus on anonymity and privacy could continue to rise strongly in the future. Due to the increasing transparency on the Internet, users are increasingly looking for solutions to conceal their own identity. The consequences of strong monitoring and regulation can be seen in China, for example. There, Internet users have only limited access to websites and are subject to constant monitoring by the state. The extent to which private crypto currencies will perform in the future therefore also depends to a large extent on the respective regulations of the countries.
“In Monero, ring signatures make it possible to ensure that transactions are always (and not only optionally) strongly disguised and mixed, so that it is very difficult or practically impossible for third parties to track money flows by means of block chain analysis. – Wikipedia
Also, anonymization of payment transactions does not have to be equated with illegal activities. The most anonymous means of payment to date is cash, which can change hands completely unguarded. The largest share of illegal activities is still carried out using cash.
Since Monero (XMR) is not only a private currency, but is also regarded as particularly secure, growth is likely to continue to increase in the future. Since the project can rely on very talented developers, new improvements are likely to continue. Crypto currencies are still at a very early stage, which means that they still offer a lot of growth potential. The possible introduction of central bank money (CBDC) could also give the sector a new boost.