The world of cryptocurrencies has expanded a lot and several currencies are available in the market. The growth of cryptocurrency leads to the creation of new currencies, some of which are thriving in the present time. Monero is one such currency that is very popular these days and people prefer it over other cryptocurrencies.
No doubt bitcoin is the most popular currency in the world having a worth of more than £39,000 and it’s still growing. People are trading it over different auto-trading platforms like britishbitcoinprofit.org, which allows them to buy, sell, and store bitcoins. However, Monero is also picking up its stance and gaining the confidence of investors. But what makes it so special?
Here are some reasons why you should invest in Monero.
Digital currency is all about technology. The better the technology, the more people feel secure in investing in the currency. That is why, Monero is one such currency that has extremely top-notch technology that attracted investors towards it.
The use of efficient technology leads to giving privacy to the users. It is impossible to trace transactions so no one will know who the coin owner is. Furthermore, all the Monero coins are identical which further adds to keep privacy of the user. Thus, when you exchange coins, you will not be traced which is called being fungible.
The builders of Monero went a step further to ensure privacy by incorporating ring signatures so that the value of Monero cash transferred also remains hidden. The receipts for the transactions are kept public but they are anonymous. This privacy system led to naming Monero as the most private cryptocurrency and also safe from any interference. It is an ideal cryptocurrency for those who want to keep their media of transacting cash untraceable.
Although there have been some people who accused Monero to be the reason for increasing illegal money. However, it is not true because Monero is just a currency whose technology is developed to keep the privacy of its users. It is up to you how you use this cryptocurrency, whether you take advantage of its secrecy or use it for illegal purposes.
The most prominent reason to invest in Monero is that its price has been increasing since it was introduced in the market. As you may already know, the more people invest in a currency, the better its price value is.
Chances of future growth
Monero is a relatively new currency as compared to bitcoin but as mentioned above, it managed to get its place in the market soon. The CryptoNote protocol introduced in Monero is more favorable for investors as compared to the previous bitcoin protocol, which is an old technology.
It is also predicted that Monero is going to remain competitive in the market and will continue to give a tough time to other cryptocurrencies because of StackExchange. Monero is on the StackExchange which increases its already booming public source code repository.
No limit on transaction
Most of the currencies in the market have an upper limit imposed on the transactions. However, there is no block limit on Monero and you can carry large transactions easily in one go. Thus, this removal of the limit enables users to complete a large transaction in much less time as compared to other currencies.
Choosing a cryptocurrency to invest in is surely very confusing but you should complete your research and make the correct decision. Have a close analysis of every currency’s price fluctuations and future predictions and then invest in any currency. The above-listed points would have provided you with a clear picture of the advantages of investing in Monero.
As Bitcoin is no longer in the range of the common man, currencies like Monero and Litecoin gives you an opportunity to earn profits and build wealth. After all, there is no better investment in the world than cryptocurrency at this time and even in future.
The above information does not constitute any form of advice or recommendation by London Loves Business and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision.