Even if you don’t have anything to hide, privacy and security are two of the important things you need when dealing with cryptocurrencies, so there comes the Monero coin.
If you truly want to embrace anonymity when using digital coins for doing transactions online, the Monero coin is one of the best deals for you. Here is a closer look at the biggest privacy coin in the world of cryptocurrencies.
What is Monero Coin?
Monero is a privacy coin, a cryptocurrency that allows you to keep yourself anonymous when doing transactions in the blockchain network.
One of the missions of privacy coins like Monero is to protect both the senders and receivers of the money when transacting with each other. It also helps protect the amount of money sent and received by the parties, so no one will have any idea how much was the transaction worth. Plus, Monero privacy coin also erases transaction histories so no one can track back into it.
The Monero coin was first launched in 2014 and based on the Monero coin market cap, it ranks as the 12th largest cryptocurrency.
Every Reason to Invest in Monero Coin
So, what makes the mining Monero coin and investing in this privacy coin hot and in-demand in the market?
- You have complete control of your finance.
When it comes to Monero coin, you own what you have and gain complete control over all your financial transactions. The digital privacy coins eliminate the need to have a third party to protect your resources for you. With your private identity when dealing with the Monero coin, no one can view how you spend your money, and no one can see your balances as well. This privacy coin is completely untraceable.
- It has dynamic scalability.
Unlike other top cryptocurrencies like Bitcoin, the Monero coin has no pre-set size limit, although there are block reward penalties to avoid clogging of malicious miners in the system.
- It is Fungible.
Another interesting thing about this privacy coin is it is completely fungible, which means it is an asset that can be interchanged with another asset of the same type.
The current Monero coin price is at $53.75, a market cap of nearly $1 billion, a circulating supply of over 17 million coins with a trading volume of more than $129 million every day.
Since launching in 2014, Monero coin has been an integral part of the crypto world, especially in providing privacy, security, and completely untraceable cryptocurrency to all digital coin users all over the world.