1. What is Monero?
Monero is the first anonymous digital currency on the cryptocurrency market. Monero offers the feature of hiding the addresses of the parties involved in transactions, the amount of transactions and account balances, ensuring that access to the transaction history cannot be retrieved.
Monero’s technology is based on the CryptoNote protocol.
2. The problem that Monero will solve
Monero sees problems that Bitcoin has not been able to solve, such as slow transaction speeds, high transaction fees, limited expansion, and especially customer information that can be accessed. This makes the transaction private. Privacy is the main problem that anonymous currencies focus on solving.
3. What is XMR?
XMR is an anonymous currency that runs on Monero’s own blockchain with the PoS consensus algorithm.
4. Functions of XMR
In everyday life, Monero can be used as a means of payment for products on the market.
In Monero’s blockchain, XMR is used as a block reward for miners who support the network in making transactions.
5) Two ways to own Monero (XMR)
Just like other currencies like Bitcoin … you can completely earn XMR in two ways: buy on the exchange and buy a miner to dig money.
6 Monero copper storage rack (XMR)
Monero can be stored with wallets like Cake Wallet, Monerujo, My Monero …
In addition, you can place money on the floor if you regularly trade, but do not put too much just enough transactions because the wallet on the security floor is not high.
7. The future of Monero
Monero can say that there are still developing steps in the right direction when this currency has been used to pay for goods and services in the merchant.
In the future, when the number of merchants and the number of users in each merchant increases, the demand for purchases will increase, thereby promoting price increases. So it can be said that the future of this currency is extremely bright. Along with that, being an anonymous currency helps XMR become a currency with high value storage capacity, and the need to store value will increase, especially in the context of economic and political situation. between complicated countries like today.
The most important thing for every investor is to be alert, wise before making investment decisions. Sticking to your own initial investment strategy is the best way to decide whether to invest more or less with this currency. Good luck.