Monero (XMR)

What is Monero? Monero (XMR) is an open-source, completely private cryptocurrency.

What Makes Monero Private?

Monero’s blockchain is opaque meaning that all transactions are anonymous. Wallet addresses, transaction details, and amounts are all disguised.

Monero has a non-traceable transaction history. With most other cryptocurrencies, anyone can see the wallet addresses, timestamps, and the amounts transferred on the public blockchain. While this makes everything completely transparent, it means that we can keep tabs on certain wallets and watch their activity.

If people start posting their wallet addresses all over social media, you could quite easily make note of it and watch everything going in and out of that wallet. That’s a problem if you hold a large amount of crypto. It could make you a target.

With Monero, none of this information is available to view, making it completely anonymous.

Monero can also be mined using regular CPUs instead of expensive mining equipment. Anyone with a computer can mine Monero, which adds another layer of anonymity.

Monero is a great cryptocurrency to use when you want complete privacy, but of course, this also means it’s the perfect currency for purchases of illegal things on the dark web.

Use on the dark web was not its creator’s intention. Monero is intended to be a private currency that you can spend with very few fees.