What is MONERO (XMR)

What is MONERO (XMR)?

Monero (XMR) is a privacy focused Cryptocurrency. Launched in 2014 it is secure,private, untraceable and open sourced.

 
 

PROS

  • Privacy -Monero uses ring signatures, ring confidential transactions, and stealth addresses to hide the origins, amounts, and destinations of all transactions.
  • The blockchain doesn’t have a block limit and is dynamically scalable.

CONS

 
  • Limited merchant/ vendor adoption.
  • Storage- To date there are no hardware wallets that can store Monero. (Ledger is in progress)
  • Tax reporting could be difficult. (Some might argue this the point of Monero) 
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