Crusher of the Month: Monero (XMR) – Private and Untraceable Cryptocurrency

As of December 12, 2017, Monero is the #9 most valuable cryptocurrency with a market cap of $4.7 billion, but we believe it has the potential to climb even further over the next year and beyond because it is, in our view, the best cryptocurrency for financial transactions.

Full report by Crush Crypto: https://crushcrypto.com/monero-crusher-dec-17/

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Note: This is not a paid review. We do not offer promotional or advertising services. Our content is based on our own research, analysis and personal opinion.
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In our Crusher of the Month series we will select a coin or token each month that we have high conviction in. Here are some reasons why we selected Monero (ticker: XMR) for our December 2017 Crusher of the Month:

#1: Increasing Scrutiny from Government Leads to Rise in Privacy Coins

With the surge in popularity in cryptocurrency in the past year, governments around the world have been keeping a close eye on it.

Many countries are introducing or planning to introduce restrictions or regulations to control as well as collect taxes from the boom. Not to mention, cryptocurrency investing is a gray area in some countries in which regulators may deem certain coins or tokens to be securities.

As a result, we believe cryptocurrency users will become more and more concerned with their anonymity in the use of cryptocurrencies. Very few people want to have their financial transaction history exposed for others to see. Therefore, we believe privacy coins will have wider adoption in the near future.

#2: Monero vs. Other Privacy Coins

We believe Monero is superior to other privacy coins mainly due to their private-by-default feature. On the Monero network, everything is hidden unless the sender chooses to reveal certain information – this is the opposite of other privacy coins.

If only a small percentage of the transactions in a network is shielded, it makes those transactions stick out like a sore thumb. This is why we believe the mandatory privacy nature of Monero is the best structure to maintain absolute privacy.

Below is a comparison of Monero and other major privacy coins:
– Dash uses CoinJoin and can take a long time for the partners to mix different transactions.
– ZCash has less than 400 fully shielded transactions a month, making it very easy to trace transactions on the network.
– PIVX works the same way as Dash but with less partners, so it takes even longer to mix transactions.

#3: Robust Development Roadmap

Monero is an open source project without the backing of any centralized organization. Any developer can contribute to the project and some even receive funding from the community if there is enough support.

There are regular, scheduled hard forks to upgrade the protocol. So far, the community has been very united and none of the hard forks were contentious. As a result, Monero has been able to improve and make big changes over the years.

Here are some of the major developments for Monero in the near future:
– Shrinkage of transaction sizes by over 80%
– Multisignature support
– Mobile wallet
– Kovri development which hides IP addresses, making Monero completely anonymous

#4: Increasing Adoption

Monero is increasingly being used for transactions on the dark web, replacing Bitcoin as the transaction fees for Bitcoin has skyrocketed.

The currency is also seeing increasing adoption by mainstream merchants. For example, it is accepted by 45 musicians including Mariah Carey and Sia during the holiday season.

Ledger Wallet and Trezor are working on supporting Monero. When it is completed, it will be far easier for investors to safely store their monero in a hardware wallet.
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Disclaimer

The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.

Crusher of the Month: Monero (XMR) – Private and Untraceable Cryptocurrency

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Kane Dane