Monero Price for today is $65.641. Its current circulating supply is XMR 17,409,052.23 with a market cap of $1,142,743,236.07.
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According to the official website, Monero is “a secure, private, untraceable currency”. Some might think that this definition applies to all the cryptocurrencies but in terms of confidentiality it is not the case. Monero, however, is a digital currency that uses a different type of cryptography to provide these complete anonymity.
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Both the complete beginners and the experienced traders can check out our Monero price prediction. For those of you who want to exchange BTC for XMR we have this step by step tutorial that explains how to do it. It is also applicable to XMR to BTC exchange or XMR to LTC exchange. Enjoy all the benefits of Monero exchange with ChangeNOW!
Monero focuses on privacy. It uses a different type of technology to make transactions untraceable and customers’ accounts anonymous. If your, for example, Bitcoin address is publicly available anyone can see your balance and all other addresses you have ever interacted with. Despite the fact that the blockchain does not indicate the names, all previous and future activities related to the address can be associated with the owner’s identity if desired. Monero, on the other hand, protects personal data and makes transactions closed to the outside world.
It is a ring signature technology that allows Monero network conducting untraceable transactions. It mixes the info of some transactions with the info of the others so it is not clear who owns the given address. Monero also hides customers balances with stealth addresses — random, one-time addresses that cannot be associated with specific individuals.
Monero also has a so-called spend key and view key. A user can share the view key if they want to reveal their transactions to someone. Such transparency can be useful, for example, when someone wants to report to the tax authorities. View key, however, can not be used to transfer funds from the account.
If you are interested in learning more about XMR you can check out our article What is Monero!