About Monero

What is the Monero price today?

The XMR price is currently $147.03. The price of Monero is -6.50% over the last 30 days. You can use the live Monero chart to track the XMR/USD price in real time above, or compare the Monero value today to its past performance using the Monero price history tab at the top of this page.

What is the total supply of XMR?

The circulating supply is 18,288,620.31 XMR, out of a total maximum supply of 0.00 XMR.

What is the price prediction for Monero?

The average Monero price prediction values the coin at $500 by the end of 2025. Things like the economic climate, establishment support and acceptance, and the crypto market as a whole can all have an impact on the price.

It’s best to take predictions with a grain of salt but you can use expert estimates to help you understand the weight of opinion about a coin.

What is Monero?

Monero is digital money that you use to buy goods and services online. The big selling point that sets it apart from other cryptocurrencies is that it allows you to remain anonymous by keeping details of who’s behind each transaction secret.

How does Monero work?

Monero stores a history of all transactions on a blockchain. The Monero blockchain plays the role of a central bank; as the final arbiter of what goes on with the cryptocurrency, but control is spread out over many users rather than held by a central authority.

The key aspect that makes Monero different is that it scrambles the information contained in each transaction to keep it anonymous. It does so using a technology known as ‘Ring Signatures’, which mixes the private key associated with each transaction with ten others to obscure which of them actually made the payment.

How is the Monero network secured?

The Monero blockchain is secured using a Proof of Work consensus mechanism. This is the same way that Bitcoin works. New ‘blocks’ of transactions added by users, known as ‘miners’, who dedicate money and resources to solving complex computer algorithms.

By dedicating those resources, in the form of powerful computer hardware, and earning a reward for doing so, these ‘miners’ are incentivised to act in the best interests of the blockchain and only add legitimate transactions.

What is Monero used for?

It is used as a means of payment or value transfer online. Generally, by people who want to keep their identity secret when making transactions. With Bitcoin, it’s possible to track a user’s wallet address on the blockchain and find out who they are. Thanks to Ring Signatures, that is much more difficult with Monero.

Why does XMR have value?

The anonymity is a big draw, because it speaks to one of the core ideals at the heart of cryptocurrency: the belief that you should be free to act as you like, rather than your actions being censored by big institutions.

XMR also plays a role as a testing ground for lots of new features. The software is designed to update automatically every six months, so it is at the cutting edge of new crypto enhancements. These changes can help enhance its value by making it more secure, anonymous, or valuable.

Who created Monero?

The initial idea for Monero comes from a white paper that was written by Nicholas van Saberhagen in 2013. However the cryptocurrency itself was created by a largely anonymous group of developers, including Riccardo Spagni, in 2014.

The project has also gone through a variety of names. The initial white paper referred to it as ‘CryptoNote’, and there was a short-lived, fraud-laden crypto known as ‘ByteCoin’ that developed out of the white paper. Then ‘BitMonero’ was created in 2014, before dropping the ‘Bit’ and settling on Monero. The name Monero means ‘coin’ in Esperanto, the universal international language.

Is Monero the same as Bitcoin?

Monero and Bitcoin are both cryptocurrencies and share similar features, but they are not the same. All transactions are hidden or scrambled on Monero, whereas on Bitcoin each wallet address is visible on a public blockchain. Bitcoin is also much larger and more popular than Monero, with far more real-world uses.

Where can I buy Monero?

You can buy Monero on a crypto exchange. An exchange is a marketplace that allows you to sign up, deposit your money, and buy some crypto, just as you would with a stock platform.

Most cryptocurrency brokers allow you to keep the coins you buy in your account. However, you may want to sign up for a dedicated crypto wallet for some extra security.

Are there any other ways to invest in Monero?

The simplest way to invest in Monero is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.

You can also invest in crypto more generally through a crypto ETF or a crypto fund. These are financial instruments that give you exposure to a group of leading cryptocurrencies, more suited to high net worth individuals.

Are there any Monero alternatives?

There are some other cryptocurrencies which are purely used as a transfer of value and which put privacy first, as Monero does. Here are some of its leading competitors.

• ZCash. Zcash shares many similarities with Bitcoin.
• Dash. Dash is a crypto that’s built for maximum privacy.
• Bitcoin Cash. Bitcoin Cash is a hard fork of Bitcoin.

More crypto guides

• Best privacy coins
• Best altcoin exchanges

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