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Everything to know about Monero cryptocurrency

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Monero XMR is a private, secure and untraceable cryptocurrency that was launched on April 18, 2014. You are said to have complete control over your money and privacy and no one else can see anyone else’s balances or transactions.

The currency has become one of the most important cryptocurrencies that currently exist.

This currency is encrypted and open source, which provides more and more extreme privacy for the user, and is characterized by its scalability.

 

How to buy Monero cryptocurrency?

XMR  can be purchased by exchanging with fiat or other coins.

In addition, An alternative way to get Monero is by mining, which is a mathematically complex process whereby transactions are unchanged on a blockchain.

Monero can be used to purchase any goods and services

Why is Monero different?

XMR  is secure, Monero is a decentralized cryptocurrency, which means that it is a secure cash currency operated by a network of users.

Transactions are confirmed by distributed consensus and are statically recorded on the blockchain.

In addition, Third parties don’t need to be trusted to keep your Monero safe

XMR  is private :

Monero uses signatures, secret transactions, and incognito addresses to blur the assets, quantities, and destinations of all transactions.

XMR provides all the benefits of a decentralized cryptocurrency, without any typical privacy compromises.

Monero is untraceable

Sending and receiving addresses as well as transacted amounts are obfuscated by default.

In addition, Transactions on the XMR blockchain cannot be linked to a particular user or real-world identity.

Units of Monero cannot be blacklisted by vendors or exchanges due to their association in previous transactions.

Monero currency characteristics:

  • Currency allows transactions to be done very quickly and costs less than other virtual currencies.
  • It can be used anywhere.
  • It’s market value grows dramatically every day, confirming that the currency is of interest to many investors in the crypto market.
  • They are based on source code, those based on blockchain technology with blocks known as Blocks.

Features of this currency:

  • Transactions can be tracked.
  • Each block takes no more than 12 seconds.
  • Block analysis can be resisted.
  • The encryption system for the block uses AES and the number of SHA-3.
  • Have the ability to unlink transactions.
  • Mining difficulty (Retarget at every Block)

From Monero Cons:


The great secrecy system used in this currency could be its only negative point.

In conclusion, All of this privacy and confidentiality of the user can give a significant boost to the outlaws, to conduct illegal operations by currency such as financing terrorist elements or money laundering, or trafficking in drugs or weapons.


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