Review on Monero by David Olayide
Monero Has The Best Privacy Feature In The Global Market!!
Monero (XRM) is an open source cryptocurrrency that was launched back in 2014. This cryptocurrency has a major aim of providing absolute privacy to its users. Monero's blockchain was created in such a way that transactions are not displayed on a public ledger. The identity, transaction details, and the amount in each transaction are kept hidden from public view. The first though that came to me was that this goes contrary to the work of a blockchain network.
Monero is basically a secure, fast and untraceable and private. From what I found on their website the network allows you to be selectively transparent and this mean you can choose whether or not you want the person you are transacting with to see your details. The network is largely decentralized with more than 30 developers in its team. They also claim to that Monero is highly scalable.
Because Monero is privacy oriented, it has attracted a lot of people who want to trade anonymously, and as such it has gained a lot of popularity. Honestly I have to say that Monero actually accomplishes exactly what it meant to achieve, total anonymity. The digital currency has been used by people on the darknet to buy different sorts of things and remain untraceable. Monero can be mined without too much trouble on common GPUs. Much unlike bitcoin, Monero is fungible and cannot be tainted.
Monero also makes for a good investment. I noticed that early this year the price increased about 37% higher than it actually was and this is a good indication that the coin is profitable. You can buy XMR on a lot of popular crypto exchange platforms today where Monero is listed, such as Binance, Bittrex, Bitfinex, Kraken and many others. Personally from my own experience, I like the structure of Monero and I haven’t seen any other crypto as organized and private as Monero.
Pros
- It has one of the best privacy features ever and you can choose the selective transparency option if you want.
- Fast and secure
- Untraceable and anonymous
- Monero is fungible
- Mining Monero can be done on standard computers with a GPU.
- Listed and supported on a lot o popular exchanges XMR is profitable for investments
- There are no strings attached unlike the high output systems that bitcoin requires.
- Monero is decentralized and scalable.
Cons
- The only downside to Monero is that it can be used to engage in illicit marketing without tracing.
