Monero (XMR) 12 days of christmas Wirex

SHARE
← Back to articles
SHARE

​On The 8th Day of Christmas, Satoshi Gave To Me… Monero (XMR)!

December 19, 2017 9:00 am Published by

Sshhhh! We’re getting secretive today.

Satoshi is giving us Monero on the 8th day of Christmas.

There’s a massive misconception about Bitcoin that it is used by drug dealers or criminals because they’re untraceable…

This is isn’t true.

Bitcoin and most cryptocurrencies are actually transparent because there is a public ledger that can be accessed and traced by anyone around the World (known as the blockchain).

While transparency is a great thing, sometimes people prefer a bit more anonymity. That’s where Monero comes in.

Let’s explore why the crypto experts are so interested:

What is Monero?

Monero (XMR) is an open-source, decentralised cryptocurrency with a focus on privacy (and making transactions and accounts untraceable).

Some facts about Monero

  • Founded in April 18 2014
  • Circulating Supply: 15,473,595 XMR
  • Max supply: Infinite
  • Current Market Cap: $4.74 billion USD
  • Key Team Members:
    • Riccardo “fluffypony” Spagni
    • Franciso “ArticMine” Cabañas

The Price

At the beginning of 2017, XMR started at roughly $13.50 US dollars.

Today the price of one Monero is at $306.46 USD

That’s a 2,170% return on your investment in the past year!

Monero price graph

Source: Coin Market Cap

Why the hype?

What’s different about Monero is it focuses on privacy; Transactions are untraceable, unlinkable and resistant to analysis.

Monero does this by implementing ‘Cryptonote’, a technology which features ring signatures to mask sender identities by mixing, and one time keys(or wallet addresses) that make transactions unlinkable.

So if drug dealers, money launderers, and other criminals were looking for privacy, Monero would be a better pick than Bitcoin. That being said, Monero was created, not for the criminals and shady figures, but for the ideal of privacy.

Aren’t we all entitled to a little privacy?

Buy, Store & Spend Monero with Wirex

Did you know you can spend your Monero (and other altcoins) with the Wirex app?

Although Wirex does not yet have Monero Wallet Integration, you can still deposit your XMR into your Wirex Bitcoin wallet (we’ve integrated with Shapeshift), making it ready to spend via your Wirex debit card.

It’s just a few taps away. If you’re new to Wirex, it’s free to sign up.

As always, we encourage the Wirex community to develop a strong understanding of projects before investing (don’t succumb to FOMO!). Let us know what you think about Monero in the community forum below.

Today’s Bitcoin Price Jump: Ready To Moon?

Is this the moment we’ve been waiting for? Is Bitcoin’s price about to turn from its recent negative trend (going dowwwwn) to a new bull-market to retest December’s all-time-high of $20,000!?   Today, the bitcoin price spiked through a few significant resistance points on the four hour chart, including breaking above the Ichimoku cloud as… View Article

How Will Banks Respond To Crypto?

As the financial crisis of 2008 held the world hostage, one man offered a solution. Bitcoin was Satoshi Nakamoto’s response, the world’s first cryptocurrency; an open source project which meant there was no need for banks and people could be responsible for their own wealth. At a time when people were at the mercy of… View Article

Will Privacy Coins Change The World?

Ever since the first banknotes were printed cash has played a critical role in the way society functions, and the evolution of money has reflected the ever-accelerating growth in technology. It took centuries for the world to stop carrying chunks of metal in favour of little pieces of paper, and it might take decades for… View Article

Will BitGrail’s Demise Boost Calls for Crypto Regulation?

In January of this year, Nano (XRB) looked like the rising star of crypto. Its fee-free transactions and instant confirmations offered an exciting alternative to the strained bitcoin network. And Nano requires no mining grunt at all, unlike most of its rivals. In a feverish trading atmosphere, the price of Nano — then named RaiBlocks… View Article

Hi! New to Bitcoin? Get The Wirex Bitcoin Confidence eBook