Monero (CURRENCY:XMR) traded 2.4% higher against the dollar during the one day period ending at 18:00 PM Eastern on January 1st. Monero has a total market capitalization of $796.39 million and $74.44 million worth of Monero was traded on exchanges in the last day. One Monero coin can currently be purchased for approximately $45.82 or 0.00635275 BTC on popular exchanges including Liquid, BTC-Alpha, BTC Trade UA and Crex24. In the last seven days, Monero has traded 0.9% lower against the dollar.
Here is how similar cryptocurrencies have performed in the last day:
- Bytecoin (BCN) traded up 0.9% against the dollar and now trades at $0.0003 or 0.00000004 BTC.
- Monero Classic (XMC) traded 5.4% lower against the dollar and now trades at $0.28 or 0.00003838 BTC.
- DigitalNote (XDN) traded up 24.2% against the dollar and now trades at $0.0006 or 0.00000008 BTC.
- Aeon (AEON) traded up 0.4% against the dollar and now trades at $0.15 or 0.00002068 BTC.
- BitTube (TUBE) traded down 0.3% against the dollar and now trades at $0.0102 or 0.00000142 BTC.
- Sumokoin (SUMO) traded 10.8% lower against the dollar and now trades at $0.0887 or 0.00001234 BTC.
- BitNewChain (BTN) traded 0.1% higher against the dollar and now trades at $0.0088 or 0.00000122 BTC.
- Boolberry (BBR) traded down 5.1% against the dollar and now trades at $0.12 or 0.00001622 BTC.
- Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
- Digital Insurance Token (DIT) traded flat against the dollar and now trades at $0.0022 or 0.00000030 BTC.
Monero Coin Profile
XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was June 2nd, 2014. Monero’s total supply is 17,381,203 coins. The official message board for Monero is forum.getmonero.org. 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 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 traded on these cryptocurrency exchanges: Bitlish, Ovis, Coinbe, CoinEx, SouthXchange, BTC-Alpha, Cryptopia, OpenLedger DEX, Exmo, B2BX, Bittrex, BTC Trade UA, Mercatox, Bithumb, Trade Satoshi, Tux Exchange, Braziliex, BitBay, LiteBit.eu, Liquid, Bisq, Kraken, Coinroom, TradeOgre, Graviex, Crex24, Livecoin, Huobi, OKEx, Exrates, Bitbns, Coindeal, Binance, Poloniex, Stocks.Exchange, Upbit, Bitfinex, HitBTC, Nanex, Cryptomate, Gate.io, Coinut, Instant Bitex, DragonEX and Waves Decentralized Exchange. It is usually not currently possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the exchanges listed above.
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