Monero/XMR#27 34

What is Monero (XMR)?

Monero (XMR) is a cryptocurrency fork of Bytecoin used to make secure and private transactions with utmost anonymity where senders' and recipients' addresses are hidden using advanced cryptography.

Monero is the only cryptocurrency where the transactions are private by default. The senders, recipients, and amount of transactions are obscured with three key technologies: Ring Signature, Stealth Address, and RingCT.

A member of the Bitcointalk forum known as thankful-for-today forked Bytecoin’s codebase, and the project was launched on 18th April 2014. The fork occurs when an existing blockchain is split into two to create another version. 

Most of the existing cryptocurrencies, like Bitcoin and Ethereum, have transparent blockchains, which makes the transactions traceable by anyone in the world. Monero states that privacy and security are its priorities; ease of use and efficiency are secondary.

How does Monero (XMR) work?

Monero (XMR) makes use of three important technologies for its privacy and safety, which include:

• Ring Signature: 

A digital signature created by any member of a set of developers having private keys. In this mechanism, the public keys from the previous transactions are used as decoys to hide the original participants, which makes it difficult to identify the real sender or whose sign it is.

• Stealth address:

It is a one-time unique wallet address, generated to increase the anonymity of the recipient for more privacy and safety, acting as a layer for crypto transactions. Because the wallet addresses are publicly visible, the transactions can be easily traced using that address.

• RingCT:

RingCT refers to Ring Confidential Transactions used to hide the amount of the transactions, which was introduced in 2017. Only the participants are allowed to see the transaction amount, which can’t be accessed by external parties. 

Where to buy Monero Coin?

XMR is a digital cryptocurrency of the Monero project that is used for privacy-focused transactions. It was directly listed with no pre-mine at a base price of around $1.65.

As of 2024, XMR coin reached an all-time high of $517.62 on May 20, 2021, and an all-time low of $0.213 on January 15, 2015.

Monero coins can be traded and swapped (allowing users to swap XMR for other cryptocurrencies) on 30+ crypto exchanges.

some popular ones include,

Centralized Exchanges:

• Kraken

• Bitfinex

• TradeOgre

• BitcoinVN

• DV Chain

Centralized Swappers:

• ChangeNow

• StealthEX

• SimpleSwap

• Godex

• MajesticBank

Decentralized Exchanges:

P2P exchanges are the best platforms to exchange XMR for other cryptocurrencies, as they allow direct interaction between the traders. Some P2P exchanges are Bisq, Hodl Hodl, and BasicSwap.

Wallets for Monero Coin

A wallet is a device used to store private keys, which allows one to access and manage cryptocurrencies. 

Some of the best wallets for Monero coins are Ledger Nano S, MyMonero, Exodus Wallet, Cake Wallet, and Atomic Wallet.

Monero (XMR) Price Prediction 2025-2030:

The demand for privacy and security will scale up in the upcoming years, increasing the value of Monero (XMR). As per Coinpedia, the coin is anticipated to reach a potential high of $257.65 and a potential low of $117.74.

Monero (XMR) 2025:

For 2025, the XMR coin price is projected to range between $316.82 and $194.86.

Monero (XMR) 2026:

For 2026, the XMR coin price is projected to range between $419.64 and $260.39.

Monero (XMR) 2027:

For 2027, the XMR coinprice is projected to range between $541.21 and $357.36.

Monero (XMR) 2028:

For 2028, the XMR coin price is projected to range between $703.42 and $461.87.

Monero (XMR) 2029:

For 2029, the XMR coin price is projected to range between $923.23 and $601.01.

Monero (XMR) 2030:

Finally, for 2030, Monero's (XMR) price is projected to range between $1201.69 and $777.32.