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What is Monero all about
While many will understand Bitcoin to be a private and anonymous way to send value across the interest, this is not entirely true. However, coins like XMR from Monero are purpose built privacy coins that have additional layers to protect the data and identity of those transacting with it.
As a privacy token, Monero’s token is primarily used transact in private, Bitcoin may be semi-anonymous, but it still has a totally transparent ledger of every transaction — Monero makes transaction details, like the identity of senders and recipients, and the amount of every transaction, anonymous by disguising the addresses used by participants.
While Monero bills its use cases as allowing for the protection of data — a massive issue in today’s digital world — there are of course concerns about private transactions. The non-traceability and privacy features of XMR means the tokens can be used for disreputable purposes, like terrorist funding; and at questionable marketplaces on the dark web that saw increased usage of XMR.
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XMR Questions & Answers
How much does Monero cost today?
Price of Monero today is at 220.82 Euro.
What will the price of Monero be in one month time?
On the basis of our prediction algorithm, we estimate Monero's value will reach between €191.94 and €258.42 next month.
What was Monero's highest price?
The price of Monero reached its highest point on 2018-01-09, at 454.53 Euro.
Is Monero going to cost more six months from now?
In the long run, it is very hard to predict accurately, however on the basis of our price prediction algorithm we suspect the value of Monero is likely going to be between €191.94 and €332.54 6 months from now.
How much will Monero cost in 90 days?
Based on our short term price prediction we estimate that the price of Monero will be anywhere between €191.94 and €264.68 in 90 days.
Is Monero popular?
238213 individuals participated via Reddit, in an online discussion about Monero in the last 48 hours. Monero's official Twitter handle is followed by 446664 people.
Is Monero used for illegal activities?
Monero is not specifically designed for use in illegal activities. It provides far more privacy and anonymity in transactions, intended to protect user privacy. However, this can be exploited to keep users anonymous when partaking in illegal activities.
How does Monero keep my transactions private?
Monero uses ring signatures, stealth addresses, and ring confidential transactions to hide the transaction’s sender, receiver, and amount. Although Monero has been adopted for applications on the darknet, its privacy implications are important for personal security and currency fungibility.
Do regulators allow for private transactions with Monero?
Regulators are quite concerned with coins that offer total anonymity. If people use these coins for activities like terrorist funding, this becomes a direct threat on states and regulators need to try and step in to limit this.
Why does there need to be privacy coins?
Privacy of transactions may have illicit uses, but there are also many legitimate reasons why a person would want to keep their transactions private. For example, businesses may have trade secrets or a list of clients and suppliers they want hidden. As a user, a safety concern arises as hackers could easily find and target large holders.