Although there are dozens of cryptocurrencies and tokens that join the crypto asset world every day, some cryptocurrencies do not go out of fashion and popularity. Monero (XMR), which is the addressee of the questions What is Monero (XMR), what is Monero Coin, what is XMR and what is XMR Coin, is the biggest example of this.
In this content about Monero (XMR), which has existed for a long time in the crypto markets and still maintains its place among the most popular cryptocurrencies, you will find answers to the most curious questions such as what is Monero, what is XMR Coin, how to buy XMR Coin.
What is Monero (XMR) Coin?
XMR Coin is a cryptocurrency built on complete privacy.
While privacy is already at the forefront in cryptocurrencies, this is a bit different in Monero, that is, XMR Coin. If this is summarized in one sentence, it can be called Full Confidentiality.
XMR Coin, which was first called Bitmonero and then Monero as a result of the fork of the crypto money released by the Cryptonote company under the name Bytecoin, is very attractive especially for those who care about their financial privacy with its privacy feature.
Even if privacy is at the forefront in cryptocurrencies, if you learn the wallet address of a person, you can easily track where the person transfers crypto money or tokens to or from where they receive crypto money and token transfers through this address. This is impossible in Monero, that is, XMR Coin!
Since Monero or XMR Coin is a structure that attaches great importance to privacy, it hides the wallet addresses of people with the technology called RingCT in transactions. Thanks to Monero (XMR Coin), which hides wallet addresses, applies visible wallet code and secret wallet code and allows transactions in this way, if you care about your privacy, you can make your transfers with Monero or XMR Coin with peace of mind.
Attracting those who value privacy and perform normal transactions, Monero (XMR) is also the first choice of Deep Web users with its feature. While Bitcoin-based transfers were made on the Deep Web before, today, transfers are made almost entirely over Monero (XMR).
Although it has significant advantages in terms of privacy, Monero (XMR) unfortunately also has disadvantages. To summarize, the main disadvantages of Monero, XMR Coin, are the heavy use of the Deep Web, the difficulty of finding a wallet that accepts Monero (XMR), and the privacy protection-related network errors in the Monero network.
Where to Buy Monero (XMR)?
If you want to buy Monero Coin or XMR Coin, the good news is that although the number of exchanges where Monero (XMR) cryptocurrency is not listed is very few, Monero (XMR Coin) has been listed on the most used and preferred exchanges in the world.
Monero (XMR), which is not considered much of an investment choice due to its price and creating a Deep Web-based concern, is not listed by low-volume exchanges, but this is not a cause for concern.
If you want to buy Monero (XMR) but you can’t decide which exchange to buy, the exchanges we can recommend are; Binance, Huobi Global, and Gate.io are crypto exchanges.
How to Buy Monero (XMR) Coins?
If you want to buy and invest in Monero Coin (XMR), you can follow these steps to buy XMR Coins on Gate.io Exchange:
- Log in to your account on the Binance Exchange. If you do not have a Gate.io account, click here to create your account with a reduced commission.
- Find the crypto currency or token you will use for the transfer by going to the Wallet section and then the Spot section and clicking the Deposit link to get the wallet code.
- Go to the exchange account to which you will transfer and go to the Withdraw section, paste the address you copied into the address or wallet code section, enter the amount you want to deposit, and start the transfer by giving your approvals.
- When the transfer is complete, go to the Trade section of the io account and convert your money to USDT.
Then find and select the XMR/USDT parity in the Trade section.
- After making a selection, complete the purchase by entering the amount you want to buy in the Buy XMR or Buy XMR section.
Frequently Asked Questions About Monero (XMR)
Is Monero Mining (XMR Mining) Possible?
Monero Mining is one of the most frequently asked questions. XMR Mining (Monero Mining) is possible but very difficult compared to other mining cryptocurrencies.
Although Monero has a nice volume in mining, the most important factors that force its mining are the network structure and the necessity of being connected to a pool. The number of pools where Monero can be mined is as limited as possible.
What is Monero and What is XMR?
Monero is a cryptocurrency name and is also called Monero Coin. XMR is the code for Monero Coin, but most investors and users also use the terms XMR or XMR Coin instead of Monero Coin.
How Monero (XMR) Ensures Wallet Privacy?
While Monero, or XMR, defines a completely confidential wallet code for its users, it defines a temporary and one-time Monero wallet code (XMR wallet code) for each transfer in transfer transactions. This wallet code is destroyed after the transfer is complete and the incoming transfer is deposited in the secret wallet. It performs this process thanks to the technology called RingCT.
Official and Followable Accounts of Monero (XMR)
Monero (XMR) Official Website
Monero (XMR) Facebook
Monero (XMR) Twitter
Monero (XMR) Reddit
Monero (XMR) CoinMarketCap
Monero (XMR) CoinGecko