Monero is one of the leading cryptocurrencies available in the market today. It was launched in the year 2014 and since then it has shown a great performance and progress. Monero has now become an anonymity oriented digital currency liked by everyone. The main concentration of the developers and community members has been the optimization of its codebase to guarantee a high privacy level.
Monero developers paid a little attention to the cosmetic attributes of the cryptocurrency and that is why it might be overshadowed by the aesthetically pleasing other cryptocurrencies like Dashcoin and others. But a number of known experts have accepted the cryptocoin with full enthusiasm. Monero has never put down its lovers and has proved as a big dependable solution. The privacy level offered by this cryptocurrency is well beyond the one provided by its competitors.
There is a variety of services offered by Monero to its users. You can not only use it to conduct money transactions digitally but you can also use them to trade for other digital currencies. Monero’s algorithm has been specifically designed to support the viability of CPU mining.
The biggest benefit of Monero is to facilitate unparalleled anonymity of the user. There are a number of highly sophisticated and intricate methods of cryptography which are utilized by Monero to support anonymity of the user. It takes a variety of techniques which include Stealth Addresses, Separate Transaction units, ring signatures and more to support anonymity.
Monero’s market functions similar to the other cryptocurrencies market. Those who are interested in Monero cryptocurrency can buy it from exchanges like Poloniex, Kraken and Bitfinex. The price volatility of Monero has been significantly high and this provides opportunities to the traders of cryptocurrencies. Traders can buy Monero using both fiat currencies as well as other cryptocurrencies which motivates traders to buy and sell it to make profits.