Monero is an open-sourced, privacy focused cryptocurrency. The development team did not pre-mine any amount for themselves and have since kept true to their unique approach by working off donations.

What interests us the most about Monero is the future of being a “Store of Value”. Typically that term is reserved for Bitcoin, yet the ability to keep your wallet amount and transactions private appeals much more to the individual or institution looking to securely store funds. Keeping this private only adds another layer of security.

Taken from Howard in his interview on the Monero Monitor podcast, (entire interview can be listened to here)

Yeah. I suppose if you dig into Monero as I have done and do the reading and you think about cryptocurrencies work or how they should work, you start to realize that Monero is actually unique. In a field where there are thousands of coins out there, new ones being forked off and presented every day, Monero is actually, as I put it, it’s the only one that actually deserves the title of cryptocurrency, right?

If you look at where the word “crypto” comes from, from the Greek “cryptos” which means hidden, okay? And you look at the science of cryptography; most of cryptography is oriented towards obfuscating data, hiding information. Alright, hiding information such that only the person you want to see it is allowed to see it, right?

It is an interesting thought.

Let’s run down a few points here:

No dedicated marketing team — This can be taken as either a good or bad detail. This adds to our thought of Monero being undervalued, yet raising brand awareness and adoption is hurt because of it.

No central authority governing Monero.

Monero uses a proof-of-work algorithm that was designed to be accessible to a wide range of processors, meaning to keep mining more open. Large mining pools are not the only ones that can effectively and profitably mine with expensive hardware.

Their open source approach and the publicly available code on GitHub allows anyone to check the code upon which Monero is built.

A largely organic and grassroots style of growth in development and marketing.

Monero needs an easy to use wallet for both PC and Mobile — for now, we add this as a pro. A pro for keeping the current price as low as it is, allowing us to add to our position.

Hardware wallets such as Ledger are working on adding Monero- another pro for the same reason as the point above.

Monero is not just another clone of Bitcoin. Development for this coin has been completely separate, which allows it to differentiate itself from Bitcoin even more so besides the privacy focus.

A dedicated and large community.

Offshore wealth storage is a multi trillion dollar sector. Monero has the ability to tap into that. Even a small amount can be a game changer.

All in all, Monero looks promising because of the lack of wallet support currently. It has a high barrier of entry to new users and this is hurting their adoption rate.

Supposedly, there are new light wallets in the works for both PC and Mobile, along with support on hardware wallets. This can launch Monero higher and we plan to be part of that ride.

The first documentation was recently available on GitHub here.

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