monero

Monero – Untraceable, Secure, and Private

Launched in 2014, Monero is a privacy-centered Cryptocurrency. With Monero, every transaction is untraceable. Even if you want to make a transparent transaction that is not possible. There would be no accidental leaks of private information.

The network implements a unique mechanism of stealth addresses, Ring Signatures, and Ring Confidential transactions. So, in every transaction, the data related to the address, and the amount transferred is hidden. So, no one can ever trace a transaction.

Unlike Bitcoin, there is no limit on block size. The block size can vary depending on the transactional volume. The standard block time is two minutes, i.e., one new block per two minutes. Therefore, no delay in transaction confirmations.

The symbol for the Cryptocurrency is XMR, and it has no total supply limit. The current supply is 15 million XMR. The block reward keeps on decreasing until a threshold falls to 0.3 XMR per minute. After that threshold, the XMR is being generated as long as the Monero survives.

XMR Wallets

GetMonero.org provides wallets for various platforms like mobile, desktop, MacOS, etc.

The Hardware wallets are not available yet. But, expected to launch soon.

Monero has a particular wallet version called Light wallet/Client. It works better for slow internet connections. But, not recommended as few nodes in the network can know when you are receiving a transaction. But, no one can ever know how much you have received and from whom.

How to get Monero (XMR)?

It is a minable Cryptocurrency. Even your CPU could well-perform mining.

There are some JavaScript libraries like Coinhive are available for mining this Cryptocurrency through the web browser. Because of this advantage, ThePirateBay.Org, a popular torrenting site, is mining Monero in visitors’ computers without their knowledge. Be careful when visiting such untrustworthy sites. Read more about it here.

Many Cryptocurrency exchanges will trade Monero: Bitfinex, HitBTC, Poloniex, Bittrex, Kraken, etc.

These days Monero is very popular with dark web marketplaces which sell illegal goods.

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