Exchange rate Monero:
Table of Contents:
- What is Monero?
- How does Monero ensure the privacy of its users?
- Monero and Bitcoin - differences
- How to mine Monero (XMR)?
- How much is Monero (XMR)?
- Monero (XMR) - on which exchanges is it available?
- Which cryptocurrency wallet to choose for Monero (XMR)?
What is Monero (XMR)?
Monero (XMR) is a cryptocurrency targeting confidential and private transactions. This virtual coin differs from Bitcoin (BTC) or Ether (ETH) in that its blockchain is not public. Nobody can trace the transaction history on it or gain access to public addresses, as is the case with most other cryptocurrencies. Operations carried out through Monero become undetectable thanks to advanced cryptography solutions.
What functions does this cryptocurrency perform? As we mentioned above, it is peer-to-peer (P2P) electronic cash that allows for fast, cheap and confidential transfers of funds from one person to another without any time or border barriers.
How does Monero ensure the privacy of its users?
This cryptocurrency is based on the so-called ring signatures and hidden addresses that allow you to secure the data of the sender and recipient of the transaction. The user cannot be associated with the public address in this case, since the ring signatures combine the user's key with other keys in the Monero blockchain. In this network, all XMR coins are simply mixed together when making transactions.
Such high privacy has its advantages and disadvantages. This cryptocurrency is most often used by people who value the confidentiality of transactions. The negative response that appears around Monero, however, is that XMR, due to its strengths, can be used by criminals on the black market or used to circumvent the law
Monero and Bitcoin - basic differences
The XMR cryptocurrency differs from BTC in many ways. While Bitcoin is usually credited with anonymity - in fact, it has nothing to do with it. BTC blockchain blockchain is public. This means that each user can see when, from what public address, where and how much money has been transferred. Due to the fact that most cryptocurrency platforms have to comply with the KYC and AML policies, it is easy to get to a ball along the thread. In other words, when verification is in place on the stock exchange, the company knows who the public address belongs to and, if necessary, is required to provide information to the relevant law enforcement authorities.
The situation is completely different with Monero. Although this cryptocurrency is not as popular as BTC, it gains an advantage when it comes to the level of transaction privacy. Of course, this is not the only difference between the two coins. See the table below for more details!
Monero and Bitcoin – basic differences
Nicolas van Saberhagen
Proof of Work (PoW)
Proof of Work (PoW)
6,25 BTC (changes on halving)
How to mine Monero (XMR)?
The XMR cryptocurrency, as well as BTC, is mined in the process of the so-called mining. Mining Monero, however, is much simpler. Special equipment is not needed for this process, so XMR is also open to smaller users - this is one of the main advantages of this coin.
Cryptocurrency miners can mine XMR on regular computers, they don't need specialized cryptocurrency miners for this. For each block they excavate, they receive a fixed reward of 0.3 XMR.
How much is Monero (XMR) worth?
The current market capitalization of this cryptocurrency is USD 1,631,612,925 (as of August 25, 2020). Currently, this coin is on the 17th position in the CoinMarketCap ranking. Its ATH, i.e. the highest price level, was recorded on January 7, 2018 (during the cryptocurrency bubble), then it was $ 495.84 per coin. The current price of XMR is around $ 92.30.
Monero (XMR) - on which exchanges is it available?
The XMR cryptocurrency is a subject of much controversy due to its high privacy. For this reason, at the turn of the last few years, many platforms had to give up its listing. Don't worry, this coin is still available on the largest cryptocurrency exchanges, for example, users can buy Monero in pair to Bitcoin (BTC) or Tether (USDT) on Binance.
Examples of exchanges on which Monero (XMR) is listed
They are traded only through cryptocurrencies
They are traded both through cryptocurrencies and fiat currencies
Which cryptocurrency wallet to choose for Monero (XMR)?
To invest in Monero, the user must have a special cryptocurrency wallet. We can divide them into two main categories: cold wallets (operating in the offline mode) and hot wallets (constantly connected to the Internet). These, in turn, are grouped into subsequent subcategories.
Is it worth knowing before choosing the right wallet? First of all, be aware that it does not function in the same way as a bank account. Should a user lose their private key, they will not be able to access their funds - so keep this in mind!
What cryptocurrency wallets support Monero (XMR)? Examples are listed in the table!
Examples of wallets for Monero (XMR)
Cold wallets for XMR
Paper wallet for XMR
|You can generate it from a dedicated website, and then write down the public and private addresses on a regular piece of paper. NOTE: it's a good idea to do this offline. This wallet is free.|
Hardware wallet for XMR
|They come in physical form. The user should only order them directly from the manufacturer so as not to be cheated by the intermediary. They are not free, you have to pay for them, costs vary by company and model.|
Hot wallets for XMR
Wallets for PC
|You can install them on your own computer or laptop. They work on operating systems such as Windows or Linux. They are free.|
|These are websites where you can register and then log in using your nickname and password. They are free.|
|These are phone applications. You should only install them from the official store. They are free.|
Include on your website a calculator Monero and chart XMRUSD using the widgets below.
To run a calculator or chart on your site, please:
- Copy the code of the selected widget and paste it into the right place on your website
- You can also configure widgets as needed by modifying the parameters:
- data-crypto="" - enter a list of cryptocurrencies that will be available in the cryptocurrency calculator. Enter the cryptocurrency shortname. You can add many cryptos, e.g. BTC, ETH, TEO. You will find a list of available cryptocurrencies here. To add all cryptocurrencies - leave the tag empty.
- data-fiat="" - enter the list of FIAT currencies that will be available in the cryptocurrency calculator, you can choose multiple currencies by entering e.g. PLN, USD, EUR, GBP. To add all FIAT currencies - leave the field blank.
- Parameters are configurable for the cryptocurrency calculator. In the case of the chart, it is not possible to add many parameters (crypto or fiat).
- To use widgets, you must include a link to your source. The link is included in the above widget codes. The link should not contain the parameter rel = "nofollow".