The first thought regarding cryptocurrency that comes to mind is that it is not safe. The same is followed by it is cumbersome to manage. Imagine these hurdles in fiat currencies. Just because fiat has the advantage of being regulated or governed, does not make them safe either. There are flaws and even issues on transparency even in the case of currencies and by no means can one vouch these fiat assets are safe. Before we dig into the Monero price prediction, let us have a look at some of the unique features of Monero.

Monero Overview

Cryptocurrency Monero
Ticker Symbol XMR
Price $151.59
Price Change 24h +10.69%
Price Change 7d +0.77%
Market cap $3,402,568,464
Circulating Supply 18,127,879 XMR
Trading Volume $147,150,160
All time high $517.62
All time low $0.213
Monero ROI +7498.28%

During the pandemic advantages of cryptocurrencies were brought to the forefront. While some did not sustain this cryptocurrency world either, currencies like Monero are benign blessings for investors.

The ABC of Monero (XMR)

Think of Cash! Think of Monero!

In fact, that is the motto of Monero to ensure the investors feel safe and transact securely with Monero at a lightning-fast speed. Times have changed today. Gone are the days you needed to carry a wallet stuffed with those fiat papers and checking on them frequently so they don’t get stolen. Carrying digital money is way better than cash as it addresses the issue of storage, portability, comfort, superfast and hassle-free transactions.

The mission of Monero is based on the fundamentals of private and censorship-resistant transactions. Unlike other cryptocurrencies viz. Bitcoin and Ethereum, which work as an open-forum wherein all processes and transactions can be tracked with challenges on confidentiality element involved. The cryptography that powers Monero is the protective cover, a shield that facilitates all transactions, keeping complete data private and safe.

Volatility, of course, as conveyed time and again, has been the apple of discord but that holds true for any kind of currency wherein factors stated hereinabove influence and impact the price of an asset, Monero is no exception either. There are also specialists involved in the analysis of rates and the execution of transactions online. The cryptocurrency is quite capable of generating tangible income, which attracts users. The Monero community has set higher benchmarks for itself notwithstanding. Monero shall surpass the expectations of all cryptocurrency investors who have found this platform extremely interactive and uncomplicated.

Tracing the Old Path: Monero History

Monero too enjoys a rich history that dates back to the year 2012. At that point in time, it was created as a branch of the Bytecoin blockchain. The maiden name with which it was groomed was Bitmonero. Later, Monero (XMR) was developed as an independently capable and sustainable currency. The ocean of the Monero lexicon is quite complex and so users can benefit from the comprehension of these terminologies by logging on to Moneropedia.

Towards the end of 2020, since Monero got the support of Ledger Nano wallet, it invited all the more attention becoming the sought-after crypto market for traders worldwide. Now, Monero is working on updating its similar technologies like GUI with sub addresses, multi-signature, etc.

Working hard to change the world map of technology, the entire ecosystem of Monero gives surety that participants benefit from blockchain-enabled functional advantages. Monero facilitates not just gains but builds hope. Backed by an enhanced decentralized accord and reinforced Monero network, Monero aims to provide users the facility of also being available on alternate platforms for digital media sharing eliminating any role of intermediaries.

Monero removes the middlemen and all for free provides solutions directly striking an association with the customer. The entire data is cryptographically secured via blockchain while allowing creators to take entire profits. Privacy is also a nodal feature of Monero that is set to hold a benchmark for content creators and will be a tough competition for giants like Facebook, Google who sell your data making it prone to manipulation.

Wonders of Monero (XMR): The Benefits

While Monero gives surety that all data of transactions remains untraceable, that is not the only benefit to be had out of Monero. Investors who have sided with Monero have many good reasons to stay stuck as die-hard fans. The uncompromising features can be enumerated as below:

Monero also has a dynamic block size and dynamic fees, an ASIC-resistant proof of work (RandomX), and a Tail Emission, among several other changes. Monero is fungible. It cannot become tainted through participation in previous transactions. This also means that no risk of censorship is involved as far as accepting Monero is concerned. Another credit goes to the robust team of Monero which is well above 500. This talent pool of meritorious researchers and engineers that also includes 30 core developers are highly credited for being innovative and experts in their respective fields.

Monero cryptocurrency can be best defined as “digital cash” as it uniquely combines the benefit of ready availability as well as privacy. It is a marvel of the core development team. Investors and the trader community do not run the risk of any counterfeit chargebacks.

Being fungible, Monero allows the owners the liberty of governing their own cryptocurrency without any third party or mediator intervention. Added to that Monero comes with no baggage of pre-set size limits like its competitors of the cryptocurrency market.

Another salient feature emerges with Wrapped Monero wherein advantages of Ethereum ERC-20 tokens are wrapped in Monero. Monero ensures redundant costs are eliminated along with the advantage of the higher speed of transactions. This prized digital currency offers users the advantage of fixed money at no inflationary cost. The decentralized consensus of XMR makes users their own masters of validation. Like blockchain, this digital asset i.e. XMR also does not call for roleplaying of any intermediaries.