XMR creation history
Montero currency is a popular digital asset, the main purpose of which is the protection of personal data using the CryproNote system. Before you, one of the leading projects, characterized by maximum anonymity of transactions. The CryproNote system is written using a unique code – it’s not a bitcoin fork. The code uses the ring type of the signature, which allows you to successfully hide the details of the transaction. Anonymity is achieved through the use of one-time keys for each transaction.
Main characteristics of the Monero project:
- Payments can not be tracked . The ring signature is a system of high complexity. To check the data, the client needs to enter several keys. This kind of signature involves the creation of a team of people, where each link has its own secret keys;
- Transactions are not linked . The characteristic of the project is the use of random data from the sender. When implementing transactions, different keys are used. Thanks to this system, it’s almost impossible to analyze the blockchain;
- Examining the completed task . The system uses the hashing algorithm CryptoNight – mining is possible only with the help of a processor or video card. “ASIC” can not be used.
What happened with Monero price at the end of 2017?
At the moment Monelo’s criterion is on the 13th place (mid-February 2018) in the ranking of demanded projects. A sharp increase in the value of this asset began in early November 2017 – then it was estimated at $ 90. The price continued to grow, and a month later a new maximum of $ 280 was registered. But after 10 days, investors were amazed to learn that the crypto coin set a new record of $ 455. So far this record has not been beaten.
Until January 8, 2018, the price “jumped” and with the arrival of the new year, the value of Monelo’s criterion began to decline. This is not surprising, since such a phenomenon was only a consequence of the active promotion of digital assets against the background of unprecedented growth Bitcoin. People were looking for alternative and cheaper options for investing and some investors began to actively buy XMR tokens.
The sharp increase in popularity is associated with an increase in the population’s interest in any crypto currency, which was in the TOP 50 of the most profitable and well-known projects.
The popularity of the coin. How much are XMR tokens at the moment?
At the moment, the popularity of the coin is decreasing. This is due to a general decline in the population’s interest in digital assets, including Bitcoin and Ethereum. The total capitalization of the project is slightly more than 4 billion dollars (4.067.793.546). At the time of 10/12/2018, the price of the token is $ 259. This is still a great price if you compare the level of the coin’s value with the schedule for the summer of 2017.
Monero is popular because of the high level of anonymity. However, it is not always accepted for payment, which significantly reduces the reputation of tokens. However, if the creators of the project continue to popularize the crypto currency, then its price may go up.
Forecast of XMR price for 2018. Technical and fundamental analysis
According to the technical analysis of the position of XMR / USD, Monero managed to reach a maximum of $ 300. The opinions of the experts were divided – some believe that there is an upward trend, others are predicting a drop in value. At the moment, the chart is moving down. In the coming days it will become clearer what will happen in the world of crypto-currency. Professionals are preparing to sell on the marks of 240, 200, 180 and 150 dollars. You can open a position for a fall with a goal of 150 dollars.
This situation is observed on most charts of Crypto-currency. Experts believe that the time of excitement has passed irrevocably and there are no sharp leaps. However, if you look at the situation in the long run, then the story with Monero has just begun. Experts in the field of technical analysis, who make long-term investments, believe that now you can sell a coin only if you do not plan to return to trading at XMR / USD or XMR / BTC.
As for the fundamental analysis, experts promise to increase the value of the coin in the long term. We understand that every leader praises his coin, but before you is a project that was almost the top 5 most popular crypto currency in the world. If the management of one of the most anonymous projects continues to work, then the project is waiting for a great future.
Pay attention to the capitalization indicator of the project, whose level has tripled in a short period of time. Just a year the cost of XMR increased from 10 to 450 dollars. Today the situation has changed, but the decline in the schedule is only a calm before the storm. Very soon, serious investors will appear in the arena, who will buy this digital asset not on the wave of universal “crypto currency”, but thanks to the activity of representatives and developers of the company Monero.
What factors influence the exchange rate of XMR?
The best option for mining the Monero is extraction with the CPU. However, experts believe that mining using a video card is also profitable. ASIC technology is not supported. The Mining algorithm uses AES and Rijndael, a block-based encryption method for the CPU. You can use the tandem processor and video card to achieve the best result of the calculation.
Events that can affect the demand of XMR:
- Final fork. On the site Monerov.org will be made the final fork – the date of completion is scheduled for March 7, 2018. On the main page even launched a reverse timer. Also distribution will be made for asset holders.
- June 18, 2018 will create a GUI interface for the purse and complete the development of a web wallet for tokens.
- On September 18, 2018, BulletProof technology will be implemented to conduct transactions. The commission level may decrease by 84%.
Also, it should be noted other events that the company plans to hold in 2019. According to the data at main site , the technology of Proof of Work will be changed. Also in 2 years, it is planned to introduce MimbleWimble technology.
How to buy Monero currency?
To buy Monero, you need to use the exchanger. To begin with, you need to buy bitcoins for real money, and therefore go to bestchange.com.
Then you need to perform the following algorithm of actions:
1. Go to the site bestchange.com and choose the appropriate direction – BTC-XMR.
2. We choose one of the offered exchangers. For example, take the site ArbitrCoin. Specify the amount of purchase, which we then send to the wallet.
3. Exchange can also be made on one of the top exchanges. For example, let’s take Exmo.
4. A wallet for storing crypto currency is registered on the official website of the exchange Exmo.
You can also create a wallet at the official website https://mymonero.com. The website is in English only.
Where and how to store the currency?
The currency can be stored on the wallet of the exchange. The crypto coins can be used for trading on available currency pairs.
Is it worth it to buy Montero crypto currency?
This crypto currency is included in the TOP of the most popular financial instruments. Its price can go up with Bitcoin, the Efhereum and other well-known projects. At the moment, there is a price reduction, but the fall should always take off.