This Monero review continues my look at altcoin cryptocurrencies in depth. In this review of the Monero cryptocurrency (XMR) I will be sharing a bit on Monero's technology/benefits at a glance, a Monero price prediction and will also give my recommendation on where to buy Monero coins.
As an investment, Monero has a relatively long track record of gains, is currently the 9th largest coin in terms of market cap and my thoughts are that it is probably one of the safer altcoin bets at the moment.
Monero Review -XMR at A Glance
This coin's tagline is that: "Monero transactions are safe and untraceable." It is privacy-centric, with a focus on anonymity. Monero cryptographically shields transaction amounts as well as sending and receiving addresses. With Monero there is no risk of chargebacks, and no multi-day holding periods.
Monero Review - XMR Benefits
Some of the highlights of Monero's technology/project values include:
- Security - Monero transactions are, cryptographically secure using the latest and most resilient encryption tools available.
- Privacy - The Monero team is committed to providing a level of privacy accessible to all users, regardless of technical competency.
- Decentralization - Monero's development has been with the intention to create the maximum amount of decentralization.
Team/Founders
Monero's team is headed by Riccardo "fluffypony" Spagni. For a really interesting look at him and a bit of history on Monero, I would encourage you to take a look at CoinDesk's article: Drugs, Code and ICOs: Monero's Long Road to Blockchain Respect
More from the Monero website on the project/team/developers:
Over 240 developers have contributed to the Monero project, including 30 core developers. Forums and chat channels are welcoming and active.Monero's Research Lab, Core Development Team and Community Developers are constantly pushing the frontier of what is possible with cryptocurrency privacy and security.
Monero is not a corporation. It is developed by cryptography and distributed systems experts from all over the world that donate their time or are funded by community donations. This means that Monero can't be shut down by any one country and is not constrained by any particular legal jurisdiction.
How Many Monero Coins are There?
As of the time of the writing, there is a relatively limited number of 15.6 million XMR coins available. The total supply of Monero coins will be capped at 18.4 million. This makes it even more limited than Bitcoin, a fact that reflects the current price and, all other factors being equal, continue to trend the price upward.
Monero Price Prediction for 2018 and Beyond
Monero Price Chart from October 3, 2017 through January 3, 2018. Source: CoinGecko.com
At the time of writing, Monero is trading right around the $400/mark and, again, has the ninth largest market capitalization of all cryptocurrencies.
2018 I think will be the year of the altcoin and I believe most proven coins will appreciate greatly in value. Monero is one such proven coin and my personal prediction is that XMR will reach $800 this year. $1000 would be my stretch estimation.
I think XMR is a long-term HODL. It is a coin with a limited supply, proven track record, scalable application and a loyal fan base.
Where to Buy XMR Coins
How to buy Monero is pretty straightforward. Currently over 50 online cryptocurrency exchanges worldwide offer offer XMR in exchange for either Bitcoin (BTC) or Ethereum (ETH). I personally recommend that you buy and sell Monero and your other altcoins on Binance.
If you do not currently have any BTC or ETH, you will want to first purchase some on a site like Coinbase or my personal favorite, Uphold. Once you have done that, you can then transfer your BTC or ETH to Binance and then start trading.
Your Thoughts on Monero?
Thank you for reading and please leave your comments below. What do you think the price of Monero will be at the end of 2018?
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Obligatory Disclaimer
The recommendations contained in this Monero XMR review are my personal opinions. I am not an investment advisor or professional. Cryptocurrency investing is risky and I urge you conduct extensive research when making your own investments.
More on Monero
GetMonero.org - Official website for Monero
Binance - Where to buy monero! My #1 recommended cryptocurrency exchange.