Monero (CURRENCY:XMR) traded 2% lower against the dollar during the twenty-four hour period ending at 7:00 AM ET on July 29th. Monero has a total market capitalization of $2.24 billion and $25.21 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be purchased for approximately $137.61 or 0.01691450 BTC on popular cryptocurrency exchanges including Upbit, Mercatox, HitBTC and Livecoin. During the last seven days, Monero has traded up 5% against the dollar.
Here’s how similar cryptocurrencies have performed during the last 24 hours:
- Bytecoin (BCN) traded down 4.2% against the dollar and now trades at $0.0030 or 0.00000036 BTC.
- DigitalNote (XDN) traded 2.3% lower against the dollar and now trades at $0.0062 or 0.00000076 BTC.
- Aeon (AEON) traded down 2.5% against the dollar and now trades at $1.59 or 0.00019586 BTC.
- Boolberry (BBR) traded down 19.2% against the dollar and now trades at $0.87 or 0.00010667 BTC.
- BitTube (TUBE) traded 0.7% lower against the dollar and now trades at $0.0829 or 0.00001020 BTC.
- Sumokoin (SUMO) traded down 0.6% against the dollar and now trades at $0.39 or 0.00004786 BTC.
- Karbo (KRB) traded down 4.1% against the dollar and now trades at $0.29 or 0.00003518 BTC.
- Stellite (XTL) traded 12.7% lower against the dollar and now trades at $0.0003 or 0.00000004 BTC.
- IntenseCoin (ITNS) traded 3.6% higher against the dollar and now trades at $0.0021 or 0.00000026 BTC.
- Leviar (XLC) traded 2.4% higher against the dollar and now trades at $0.0170 or 0.00000209 BTC.
Monero is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on June 2nd, 2014. Monero’s total supply is 16,264,830 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official website is www.monero.cc. Monero’s official message board is forum.getmonero.org. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here.
According to CryptoCompare, “Ring Signature The Basics In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members’ keys was used to produce the signature. For instance, a ring signature could be used to provide an anonymous signature from “a high-ranking White House official”, without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup). Application to Monero A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a “ring” of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent). To read how Monero gives you privacy by default (unlinkability), see stealth addresses. “
Buying and Selling Monero
Monero can be purchased on the following cryptocurrency exchanges: Ovis, Bisq, Nanex, Waves Decentralized Exchange, Tux Exchange, Bithumb, Bitfinex, Exrates, LiteBit.eu, Trade Satoshi, Mercatox, SouthXchange, Gate.io, Cryptomate, Binance, Coinroom, Bitlish, OKEx, Livecoin, Cryptopia, Upbit, BTC-Alpha, Bitbns, Braziliex, Qryptos, Huobi, HitBTC, Stocks.Exchange, Exmo, Bittrex, Kraken, OpenLedger DEX, BitBay, B2BX, DragonEX, Coinbe, Poloniex, Crex24, TradeOgre, CoinEx, Coinut and BTC Trade UA. It is usually not possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to trade Monero should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the aforementioned exchanges.
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