WHAT IS MONERO?
Monero (XMR) is a privacy focused Cryptocurrrency.
Launched in 2014 It is secure, private, untraceable and open- sourced.
- Privacy -Monero uses ring signatures, ring confidential transactions, and stealth addresses to hide the origins, amounts, and destinations of all transactions.
- The blockchain doesn't have a block limit and is dynamically scalable.
- Limited merchant/ vendor adoption.
- Storage- To date there are no hardware wallets that can store Monero. (Ledger is in progress)
- Tax reporting could be difficult. (Some might argue this the point of Monero)
Monero is currently the top Privacy coin as far as features go.
The challenge will be whether it can gain mainstream mass adoption.
Governments are slowly having to make a choice whether they embrace Cryptocurrencies or fight to ban and push them underground.
Monero could come under attack as Governments look to falsely lay blame for enabling "Terrorists, and drug dealers" (the USD could also be blamed for this)
5 YEAR OUTLOOK
Monero is currently the Blue chip privacy coin and is likely to stay there for the immediate future.
If privacy is your thing then you probably already own Monero.
- Over 80+ Currency pairs. No verification to trade crypto to crypto.
- Fees: As low as 0.1% trading fee
- Supported countries: Worldwide
- Deposit methods: BTC, ETH, LTC, NEO & BNB
- 60+ Altcoins available. User friendly.
- Fees: 1-3%
- Deposit currencies: AUD*, BTC, LTC, DOGE
- Payment methods: BPAY, POLi, cash, cryptocurrency
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