A quick look at cryptocurrency #6 Monero
Today let's focus on Monero
- Monero is a coin that ensures complete privacy - no one can see the amount of coins that we store in our wallet, or the transactions that we make
- Monero's block size is dynamic (block size was the biggest issue with latest Bitcoin - Bitcoin Cash fork)
- There are 15,411,819 coins (each minute 5 of them are created). Once the amount reaches 18,3 million, the rate will be 0,3 XMR per minute, and this rate will never change
- Monero is (that's both an advantage and disadvantage) a great solution for criminals, or people that want to evade taxes. With scandals such as Panama Papers (https://en.wikipedia.org/wiki/Panama_Papers) many people might leave countries that enable them to money laundy or to evade taxes and get their heads around Monero being anonymous
Let's have a look at Monero's current state
- Date of launch 21st of May 2014
- Starting price $2.47
- Lowest price $0.23
- Highest price $ 214.28
- Current price $206.46
Investment aspect
- Even though Monero is around 10th place concerning MarketCap, it still is the best, that the market has to offer if we speak about privacy. That's why I think, that its' price is undervalued right now
- As the political changes concerning cryptocurrencies and money in general are happening (making cash illegal - forcing us to use credit cards, allowing banks to freeze our money, making cryptos illegal in some countries, forcing us to pay high taxes for using cryptos) many people should get interested in this coin
- Unfortunately, wallet topic in Monero is a mess right now. There are many issues with the ones avaiable today. Though, the design of better wallet than what is currently in store are at its' finish, so we should be able to use it soon
Monero is one of my favourite projects in the world of cryptocurrencies. Let me know what do you think about it!