Many today talk about the usefulness of different cryptocurrencies. Of course, that cryptocurrencies exist and that they are as lucrative as they are today is something that cannot be disputed.
Each of them are valuable resources, they remind us that we can always think of something more advanced even on a financial level, since cryptocurrencies give us the opportunity to be totally autonomous with our money. The fact that they are decentralized is an extremely key point, if you want to pay something to someone who is in another country you can do it directly through a cryptocurrency without an annoying intermediary who can charge some crazy commission.
Likewise, cryptocurrencies have not only presented themselves as an extremely important technological advance at a financial level, since they promise a lot for the future; but also an investment opportunity that is available to anyone who has some money.
But, there is a small problem for all the people who want to get into the cryptocurrency medium, it is the fact that there are a lot of cryptocurrencies in the current market, each of them has its advantages and disadvantages.
Given the latter, we have taken the task of being able to tell you a little about one of the most notorious cryptocurrencies on the market for many reasons that we will see below, so if you are interested in having a little more information when working or wanting to invest in a cryptocurrency. Just see what we have to tell you about Monero.
What is Monero?
As we said before, there are a substantial number of cryptocurrencies in the current market that you can choose from when making an investment, but not all of them are as separate from the competition as Monero does.
Monero is a cryptocurrency that focuses entirely on the privacy of the user or the trader. This cryptocurrency, developed in 2014, was made from an open source code based on CryptoNote. And, it uses a special system in its code when carrying out transactions in which anyone can see or transmit how a transaction occurs, but no person who is not taking part in the transaction as such can see the identity of those who carry it out. , where the transaction starts and where it goes. This is a huge point for Monero, and it encourages much more the aspect of decentralization of cryptocurrencies, but it reveals the small detail that many people use it to make payments for illicit activities.
In fact, from the beginning, privacy with Monero is almost forced on the user. This is important, since not all cryptocurrencies pay the same attention to user privacy as Monero does, and it shows from the first moment you start dealing with the application of this cryptocurrency.
The fact that it uses a ring signature technology during each transaction protects the address of the recipient, and the untraceability makes the sender almost invisible. So it is, in fact, an excellent option if you want to stay of the grid with noisy people.