What does it do?
According to the Monero website;
“Monero is the leading cryptocurrency with a focus on private and censorship-resistant transactions. Most existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains, meaning that transactions are openly verifiable and traceable by anyone in the world. Furthermore, sending and receiving addresses for these transactions may potentially be linkable to a person’s real-world identity. Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts.”
Monero was created in 2014 making it one of the oldest established cryptocurrencies. In short, it allows users to make payments via XMR that are untraceable, with wallet addresses and balances remaining anonymous.
XMR is utilised by hundreds of merchants for goods and services, varying from payment processors, to internet services, to travel providers as seen below:
- Travala (AVA cryptocurrency – See our AVA at a glance here)
A full list of merchants can be seen here
At the time of writing XMR is ranked 14th by market cap with a market cap of $2.2bn.
Where can I buy it?
The highest volume exchanges are:
Other exchanges include:
- VCC Exchange