The Monero price is currently $ 93.18 with a 24-hour trading volume of $ 202.54M across 67 exchanges. The XMR price is up 3.46% in the last 24 hours. The Monero price prediction sentiment is currently bullish. Monero reached its highest price on January 9, 2018, when it was trading at its all-time high of $ 593.42. It has a circulating supply of 17.71M XMR. The best exchange for trading Monero is Binance.

Monero is a cryptocurrency that is designed to provide as much privacy as possible to its users. The Monero project is fully open source, maintained by volunteers, and has achieved a solid reputation within the cryptocurrency community. Monero initially came into existence as a fork of the Bytecoin cryptocurrency in 2014. The Monero whitepaper was created by an unknown person using the pseudonym “Nicolas van Saberhagen”.

With Bitcoin, Ethereum, and most other cryptocurrencies, the ledger of transactions is fully transparent – you can head to any Bitcoin or Ethereum explorer and see the entire list of transactions made through their respective networks, including the sender, recipient, and amount.

Key Monero features:

Privacy-focused proof-of-work cryptocurrency

Transaction amounts, senders and recipients are obscured to outside observers

Can be mined efficiently with consumer-grade computer hardware

Monero uses a suite of privacy-enhancing technologies including ring signatures and stealth addresses to obscure the senders, recipients and amounts involved in any given Monero transaction. Aside from enabling privacy, this also has a positive effect on Monero’s fungibility, as specific XMR coins cannot be blacklisted by service providers such as cryptocurrency exchanges. In short, you can be certain that you will be able to spend your XMR coins with any service provider that accepts Monero.

Monero is a proof-of-work cryptocurrency, meaning that it is secured through mining. Unlike what we’re seeing with many other cryptocurrencies, the Monero community is actively opposed to ASIC mining, due to its potential negative impact on decentralization. Instead, Monero is designed so that it can be mined efficiently using consumer-grade computer hardware.

Cryptocurrencies that are focused on providing privacy are often referred to as privacy coins. In addition to Monero, this category also includes crypto assets such as Zcash, Horizen and Grin.

Even though Monero is a well-respected project within the cryptocurrency community, Monero’s uncompromising approach to privacy has made it a controversial cryptocurrency outside of the crypto sphere, as certain regulators and lawmakers have expressed concerns surrounding the technology’s potential use in illicit activities.