Monero (XMR) is a secure, anonymous, and untraceable cryptocurrency. Unlike bitcoin, all Monero balances are closed and untraceable by default, and transactions are untraceable, which increases popularity among those who care about anonymity.
Keep reading the new StealthEX article and find more about XMT crypto price and how to buy Monero coin.
The current XMR price is $239.5368.
Monero Cryptocurrency Brief History — From Bytecoin To BitMonero
In 2012, an anonymous developer created a new cryptocurrency called Bytecoin (BCN). One of the advantages of the coin was the CryptoNote algorithm, which hides data about the sender and the final recipient of the transaction. The new blockchain attracted supporters of anonymity, but soon faced criticism from members of this community. It turned out that as a result of pre-mining, about 80% of coins were credited to the personal wallets of the founders, making mining unprofitable.
In April 2014, the Bytecoin chain underwent a hard fork, which resulted in creating a new token. In the first days of the project’s existence, the cryptocurrency was called BitMonero. A few days later, the development team improved the wallet interface, secured the code against hacker attacks, and convinced the community to choose a more user-friendly name for the coin.
Monero Crypto Features
Monero crypto has attracted users by:
- Unlimited issuance. Extraction of new blocks is constantly becoming more difficult, but the mining of this coin will be maintained all the time, albeit at a smaller volume.
- The use of the Proof-of-Work algorithm to validate transactions. The network is maintained by miners finding new blocks.
- Protection against the use of ASIC equipment. Monero can be mined on regular processors and video cards. ASIC miners have a high hash rate, but to protect the network from the monopoly of large farms, changes are constantly being made to the calculation algorithms. Owners of regular servers react quickly to forks and reconfigure computers. It is more difficult for miners working on professional equipment to do so, which makes it less profitable to use ASIC processors.
Is Monero Anonymous?
Monero coin combines ring signature technology with the ability to send coins to wallets that are invisible to the observer. By doing so:
- The sender can hide their identity by co-signing the transfer with other users.
- The observer cannot find the transaction history of an individual wallet due to stealth technology.
- There is an opportunity to hide information about the size of the transfer from outsiders. It is impossible to understand from the open key what quantity of coins was included in the separate record.
Monero Insurance
Monero insurance isn’t limited. However, after issuing 18.4 million coins, the profitability of mining will decrease, and the reward for each mined block will be 0.6 XMR. About 18 million coins have already been mined.
How to Get XMR Coins?
Here are the ways how to get Monero:
- Monero mining.
- Buying through exchangers or P2P services. It is worth drawing attention to the StealthEX crypto exchange.
- Receiving cryptocurrency as payment for services.
How To Mine Monero?
To mine digital assets in networks that use Proof-of-Work technology, users provide the power to calculate new blocks.
To understand what profit users can get, they can use a Monero mining calculator, requiring:
- Hashrate per server.
- Power consumption per server.
- The number of servers.
- Electricity cost per kWh.
Where To Hold XMR Coin?
Users can hold tokens on different wallets, like GUI and CLI ones developed by the Monero community and available for most OS. For bigger sums, it’s possible to keep tokens on a hardware Monero wallet
Those who want to check an XMR to USD rate and read recent news on the go can download mobile wallets like Monerujo or Cake Wallet on their smartphones.
How High Will Monero Go?
Monero Price Prediction 2025
Since anonymity remains a priority for lots of people, more users think about how to invest in Monero, which increases the price. This process will continue in the future, and as WalletInvestor predicts that Monero coin price will be $914 in January 2025. According to PricePrediction, it will go over $1,000 by the same time.
Is Monero A Good Investment?
All in all, Monero’s positioning among the leaders in trading volume and capitalization suggests that this asset will remain highly liquid, assuming a stable network. That’s why XMR is suitable for both short-term traders and long-term investors.
Where To Buy Monero XMR Coin?
The easiest way to get Monero is to use exchanges, and StealthEX is the most secure platform. Since there’s no need to provide much information, even those who use such services for the first time understand how to buy Monero in a few minutes. To buy Monero, you can choose from over 400 cryptocurrencies and stay anonymous because StealthEX is non-custodial.
How To Buy Monero XMR Crypto?
Just go to StealthEX exchange and follow these easy steps:
- Choose the pair and the amount for your exchange. For example, BTC to XMR coin.
- Press the “Start exchange” button.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your coins!
You are more than welcome to visit the StealthEX exchange and see how fast and convenient it is.
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The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Originally published at https://stealthex.io
