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3 Things to Know About Monero XMR

by mark sheppard 2 months ago in bitcoin

Amongst all these coins, Monero (XMR) stands out. It is one of the more popular currencies and a favorite among people looking for a private, secure and anonymous transaction.

In the past few years Bitcoin has gained a lot of momentum and has become a flag bearer of the cryptocurrency world; however, you might be surprised to know that there are in fact several hundred, if not thousands, of coins out there. Some of the other popular ones are Monero, Ethereum and Litecoin. All offer different kinds of features and trade at vastly different rates, often, claiming to be improvised versions of the Bitcoin.

Amongst all these coins, Monero (XMR) stands out. It is one of the more popular currencies and a favorite among people looking for a private, secure and anonymous transaction.

So, what exactly makes XMR so popular?

  1. Privacy

Monero is perhaps the only cryptocurrency that provides complete privacy in every transaction. No one can trace the sender, receiver or even the amount of XMR traded. It maintains 100% privacy and provides a secure way to transact on the internet.

2. Cheaper to Mine

To mine Bitcoin cash you need specific, high-end equipment like ASIC that makes the entire mining process very expensive and out of reach of most individuals. However, in case of Monero, it can be mined with a simple set-up as well. You can profitably mine using both a CPU and a GPU. This makes it cheaper to mine for everybody.

3. Fungibility

In case of coins like Bitcoin where the coin can be traced i.e. you can tell what kind of transactions the coin was involved in (while you may not be able to identify the users involved), often, coins become ‘tainted’. This means if you know a coin was involved in an illegal transaction, you might not want to accept such a ‘tainted’ coin. However, in Monero, the coin cannot be traced from transaction to transaction and nobody knows its history, hence, it is fungible.

Trading and Transacting Using Monero

You can either mine Monero or buy it from an exchange. There are several exchanges available on the internet via which you can buy crypto currencies. Before choosing any platform, ensure they meet certain important points such as –

-Safe, secured platform

-Low transaction fees

-Quick customer support

If you are looking to take the plunge into trading or transacting on the internet with Monero then consider opening an account with the Cryptmixer. It is a leading cryptocurrency exchange and mixer that offers a hassle free experience. The platform is safe, secured and offers an effective way to trade or sell XMR.

However, the best feature of Cryptmixer is that it offers Monero (XMR) currency at a fee of just 0.05% which is the lowest in the industry currently. This can help you minimize costs and maximize profits.

To know more, you can log on to their website and check out the details.

https://cryptmixer.com

bitcoin
mark sheppard
mark sheppard
Read next: Top 5 Advantages of Blockchain Technology
mark sheppard

I'm a self employed investor in cryptocurrencies, stocks and dividends. I love sharing what I've learned over the years!

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