Crypto Adoption may not be where experts and fans want it to be, but there is no denying the journey it’s made so far and what cryptocurrencies have achieved along the way. Cryptocurrencies have taken over the financial world and look set to cement its place at the “go-to” in terms of finances.
Cryptocurrencies can boost of numerous advantages today. Something which started as somewhat an experiment has now evolved into a multi-billion dollar venture while solving many problems associated with finances alongside.
Cryptocurrencies have not become somewhat of a “hot cake” and because of the advantages that come with it, new coins are being pumped onto the market every day. There are over 2,300 digital coins on the market now, and at the rate at which cryptocurrencies are making waves, many more are set to be unveiled.
The level of competition in the crypto market now is off the charts. To stand out amongst the big coins, you will have to come well equipped, to make your name known in the crypto market.
Monero has been on the crypto scenes for quite some time now and has seen a steady movement of the crypto ladder. The digital coin currently holds the 12th position on the crypto ladder with a fixed circulating supply at just over 18 million units. Regardless of its relatively low circulating supply, the digital coin now trades at $75.49
Monero might not have the most stellar qualities amongst the numerous digital currencies. However, the coin is equipped with complete anonymity, something which is very rare but vital, considering the same state at which many coins are created.
The most significant coin on the crypto market, Bitcoin cannot boast of a comprehensive anonymous network. Each transaction sees data stored on the blockchain and remains visible to all users.
Monero, however, is created to have total anonymity. With its stealth address and ring structure, the privacy of its users is wholly assured. Unlike Bitcoin’s address which can be linked to other individuals or groups, Monero’s ring structure links the transaction to an address but connects all traders to a single ring. This makes it almost impossible to reveal the identity behind a transaction, and no user’s financial activity can be read.
Monero’s stealth address on its network, also allows its users to create a special address for each transaction made. This one-time use option protects the identity behind the transaction as well as eliminates the possibility of tracing the transaction back to who made it.
People are taking advantage of cryptocurrency’s current situation to bring out their fantasies. Coins will continue appearing on the crypto market, but it will take a lot more than a fancy name and a known technology to make it in the cryptocurrency world.