Monero coin review: why it’s a good investment
Monero’s official website: getmonero.org
What is Monero? Everybody talks about Bitcoin, Ripple, Ethereum, but you won’t see many conversations about Monero, although it’s been in the market since 2014. Currently Monero is the 14th at the coinmarketcap.com ranking table. It’s not the first ten, but still its rank is quite high. Let’s take a closer look at this alternative coin, investigate its benefits compared to Bitcoin and other cryptocurrencies.
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What makes Monero different
Let’s compare Monero vs Bitcoin.
First, Monero doesn’t have this centralized mining problem, that Bitcoin does.
Also, it has dynamic block sizes. There’s currently a big debate in Bitcoin now on what size of the blocks to set: 2, 4 or 8 mB. The scalability issue is very acute with Bitcoin. Dynamic block sizes allow Monero to solve this scalability problem. Miners can choose the size of the block depending on how many transactions are going through the network.
Finally, Monero is completely private. With Bitcoin you can see exactly who is sending, who’s receiving and how many coins. With Monero you can’t see any of this info. As Monero states on its official website, it’s an open-sourced, privacy-focused cryptocurrency. Most of the digital currencies that are currently available in the market are open-sourced, but quite a few are actually focused on privacy. This is what makes Monero specific.
Monero price
If we take a look at Monero price chart we will see that it started at around $2 per coin and it’s been quite stable all the way through till 2016. In spring 2017 many altcoins grew really much, and so did Monero. Until eventually it skyrocketed by the end of 2017, and now its price is well above $400.
Is Monero a good investment?
Monero is a solid coin with a good reputation. Its founders have never pumped its price so as to sell many coins, get profit and then get away. Its technologies help to solve the problems that Bitcoin encounters.
Monero is one of the sleeping giants of the market and it’s one of Bitcoin’s main contenders. It has all the chances to win in the long-term.
