FAQs
Monero is a cryptocurrency designed for anonymity and financial privacy. Its cryptographic techniques make it very difficult to trace Monero transactions. Monero mining is more accessible to users with general-purpose CPUs, GPUs, and FPGAs than ASICs, meaning they don't need to pay for special hardware.
Is Monero illegal in the US? ›
Monero, a privacy-focused cryptocurrency, is not illegal globally but is banned in some countries due to its potential use in illicit activities.
Is Monero and XMR the same? ›
There are multiple ways to acquire some coins to spend, like mining or working in exchange for Monero, but the easiest way is to use an exchange and convert your fiat money into XMR. Many exchanges, centralized and decentralized, list Monero (XMR).
What is XMR right now? ›
Price of XRP today
The live price of XRP is $ 0.519809 per (XRP / USD) with a current market cap of $ 28.81B USD. 24-hour trading volume is $ 1.25B USD. XRP to USD price is updated in real-time. XRP is -1.02% in the last 24 hours with a circulating supply of 55.43B.
Is Monero still untraceable? ›
Monero (XMR) is a secure, private and untraceable cryptocurrency known for its strong focus on privacy and anonymity. Transactions on the Monero (XMR) blockchain are confidential and cannot be traced, ensuring the privacy of its users.
Is Monero XMR safe? ›
Monero itself is secure, but Monero are only as secure as the wallet storing them. Like in any other investment, securing your Monero must be a priority. Your Monero are as secure as the wallet storing them. Ledger hardware wallets have been designed secure your Monero and other cryptocurrencies.
Do hackers use Monero? ›
It's secure that's why a hacker wanting payment in Bitcoin. Is bitcoin mainly used by criminals and hackers? Bitcoin transfers are private, but traceable. Criminals nowadays prefer privacy coins like Monero and ZCash.
Why is Monero banned? ›
Monero, the Crypto That Drives Regulators Mad
With its untraceable transactions, Monero embodies the nightmare of regulators. Its privacy technology prevents the tracking of financial flows, unlike Bitcoin, for example. This makes it easier to launder money and finance illicit activities, according to its detractors.
Can Monero be traced? ›
Monero transactions are confidential and untraceable.
The sender, receiver, and amount of every single transaction are hidden through the use of three important technologies: Stealth Addresses, Ring Signatures, and RingCT. Because every transaction is private, Monero cannot be traced.
What is the untraceable currency? ›
Monero (/məˈnɛroʊ/; Abbreviation: XMR) is a cryptocurrency which uses a blockchain with privacy-enhancing technologies to obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading Monero, transaction amounts, address balances, or transaction histories.
All Monero transactions are private. They don't show up on the blockchain, making them untraceable transactions. Part of the technology behind Monero includes ring confidential transactions, which hides the amount of Monero being sent. It inherently prevents any one from checking account balances of others.
How to get cash for Monero? ›
How to sell Monero
- Create your free Kraken account. Verify your details to get started.
- Send XMR to your Kraken account. Deposit XMR in your secure Kraken account.
- Sell Monero instantly. Enjoy ultra-fast XMR transactions & withdraws.
USD to XMR
| Amount | Today at 7:00 pm |
|---|
| 50 USD | 0.35 XMR |
| 100 USD | 0.71 XMR |
| 500 USD | 3.53 XMR |
| 1,000 USD | 7.07 XMR |
4 more rowsMonero is not supported by Coinbase.
Who owns XMR? ›
Monero has no single founder or CEO. There is a core team of developers working on it, most of whom choose to remain anonymous. One of the few developers who is known by name is Riccardo Spagni (aka FluffyPony) who was Monero's lead maintainer until stepping down in December 2019.
Is Monero XMR a good investment? ›
Conclusion. If Monero (XMR) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Monero (XMR) price prediction for 2024 is $205.6. Comparatively, if unfavorable sentiment is triggered, the bearish Monero (XMR) price prediction for 2024 is $104.7 ...
What can you do with Monero? ›
Monero can be stored on several Monero wallet platforms and can be used to purchase goods and services as well as pay bills. Monero can also be converted to other cryptocurrencies like Bitcoin for merchants that do not accept Monero.
What are the advantages of XMR? ›
Monero transactions are confidential and untraceable.
The sender, receiver, and amount of every single transaction are hidden through the use of three important technologies: Stealth Addresses, Ring Signatures, and RingCT. Because every transaction is private, Monero cannot be traced.
What does Monero hide? ›
JAKARTA - Monero (XMR) is one of the most famous cryptocurrencies for its privacy features. Monero can hide the identity of the sender, recipient, and the number of transactions on the blockchain, making it difficult to track by unauthorized parties.
