Monero is one of the fastest growing cryptocurrencies in the world. It is highly secure and has been able to maintain the confidentiality of its coins and the coin owners. This currency uses top-notch technological systems which make it impossible to trace any of its transactions. All the Monero coins are identical and can be exchanged to uphold the privacy of its owners. This usually termed as being fungible.
The receipts for this cryptocurrency are kept public, but they are anonymous hence impossible to trace the origin. You can make deposits or transfer funds without a trace. The currency utilizes a ring signature system which enables it to even hide the value of the Monero cash transferred. This is an ideal currency for people who need an untraceable media of transacting cash. It is the most private crypto and is highly safe from any form of interference.
Monero is a newer cryptocurrency than Bitcoin, but it has been able to compete favorably. It uses the CryptoNote protocol as opposed to the bitcoin protocol. It is highly preferred compared to bitcoin because of its heightened priority on the privacy of its users. Also, Monero has a higher possibility of remaining competitive in the cryptocurrency market. This is because it is on the StackExchange which totally increases its already booming public source code repository.
Monero also enables you to carry out larger transactions. It does not have a block size limit which is present in other currencies. Lack of this limit enables it to carry out many transactions in one second compared to others such as Bitcoin.
In the next few years, exciting games such as slots will be played using Monero. Perhaps the bonuses will be given in these terms, and gambling will be more thrilling. Here is the list of free slot games with bonus rounds.
Rapid Growth
Another reason why you should invest in Monero is that it is exhibiting a rapid growth rate. The number of people embracing its use has been on the rise since it was initiated. This is because it has shown an undoubted capability to keep the financial information of its users private. People have different reasons for concealing their financial info, and this has to be respected. Monero makes it very possible for them.
However, there is an unfounded accusation that associates Monero currency with illegal money such as drug trafficking money. This is not a money laundering scheme or a get rich quick mechanism as suggested by some quarters. It is simply a cryptocurrency that ensures the privacy of its users. What they decide to do with their money is up to them.
Monero is an excellent investment for the long term because more people are demanding for the privacy of their money. It has continued to prove that it can uphold the privacy of its clients much better than other currencies. It can also prevent the disclosure of its value and make it practically impossible for anyone to trace the amount of cash being transacted.
Where to Acquire Monero
The Monero can be bought at the website CEX.IO. This is an excellent platform that works through the Fill-or-Kill order concept. The FOK orders are essential because they enable people to transact businesses at the exact prizes they desire. For instance, if you fill a form to purchase Monero at a certain value, it stops for two minutes looking for someone willing to sell at your desired prize. When you find a match, the transaction is completed in a short time.
This site utilizes a 2-factor authentication to protect the transactions of its users. The system makes it tamper proof and basically impossible to hack. CEX.IO provides a simple platform that is very easy to use. It has very high limits, and this enables users to transact as much money as they want. It is the site used for purchasing Bitcoins.
The use of cryptocurrencies has been on the rise in the past few years. These currencies are more preferred compared to other currencies because they are untraceable hence quite ideal for individuals who value privacy and confidentiality. The current market trends that these currencies show that they will compete with larger currencies strongly in the next few years.
Many people are embracing the use of these currencies. There was an initial doubt when they began because people were not sure about what they are. Many thought that they are money laundering schemes while others suggested that it was a mechanism for hiding illegal cash. The current trends have shown that these currencies are actually beneficial.
They can be used by people from all over the world and are not easily affected by external forces such as politics. The cryptocurrencies are not affected by jurisdictional borders hence can be used for a large number of activities. Soon, activities such as gambling that require the use of cash will be revolutionized to accept the use of these untraceable currencies. Their security features and systems make them ideal for activities such as betting that handle loads of cash and have an ardent need for privacy.
Monero is certainly the fastest growing cryptocurrency in the world. It is newer than Bitcoin but has shown great commitment in upholding the privacy and security of its clients. All the transactions are totally untraceable, and its presence in the StackExchange makes it a viable investment for the future. Also, the rate at which people are using it is high which shows that it will exhibit a high growth rate in the next few years. This is certainly the kind of investment to venture in. The reasons above will convince beyond reasonable doubt that you should try it out.
