Cryptocurrency is the new currency that is being used by many businesses for trading and payment purposes. This has opened a new door to conducting business in a more fast and efficient manner. Since the introduction of Bitcoin, the market of cryptocurrencies has become an ever-expanding domain where there are over 1,300 cryptocurrencies currently in the market.
Even still a cryptocurrency expert will not know about all the cryptocurrencies. This is because of the effective technologies are not employed by all cryptocurrencies. Bitcoin, the first of the cryptocurrencies employed the best technologies for the encryption and security of the transfers and funds known as the Blockchain technology.
The Blockchain technology has only been employed by a few cryptocurrencies that are found on the top of the best cryptocurrency list. Out of all the best cryptocurrencies, Monero has been gaining the attention of the investors. There are many aspects that investors consider before investing in a cryptocurrency. Here are those aspects of Monero that have gained the attention of the users.
Determining the Value
The value of the cryptocurrency is what determines the interest of investors in a cryptocurrency. The market value is the real entity that determines the value which can lose its value if people stop using it. Each cryptocurrency focuses on making their cryptocurrency used by as many people so the market value of the cryptocurrency can be boosted. Monero is also attempting to make their technology flawless for more usability of the cryptocurrency.
Prone to less attack
As per many tech geeks and experts, the biggest flaw in any system is the human part. The cryptocurrency technology has made the involvement of human as less as possible with the help of latest technologies. The Blockchain in the Monero crypto coin has maintained a total technological involvement that gives any attackers less ground and advantage over Monero.
Decentralization of Monero
The control of Monero doesn’t lie with any authorities, government or legal organizations, etc, therefore, any effect on the market is not applicable to Monero. The complete decentralization of the Monero makes it a perfect option for investors to invest in since they don’t have to pay any taxes for storing, buying, and selling Monero.
Privacy of the transfers and account holders
The data of the account holders such as fund balance and fund transfer is encrypted and secured by Blockchain technology which is considered as practically impenetrable. And the privacy of the user is given the most priority and Monero is one of the few cryptocurrencies that gives the same privacy to its users. The data can be as transparent as the user wants but the default setting is set to complete privacy.
The market value of top currencies is high and undeniably at the top but a cryptocurrency like Monero has to grow to reach the same position. The growth of Bitcoin is gradual but definite but the market value of Monero is over $2 billion USD which is growing rapidly. This rapid growth can benefit many investors around the world and investors have understood this fact and have started investing in Monero.
The investors always have a contingency plan if the investment becomes futile. Many investors invest in other cryptocurrencies collaterally and save their money by creating more profit from the later investments. But the small level investors don’t have the privilege of investing collaterally so they choose to opt for Cryptocurrency Exchange Platform when they feel like the cryptocurrency is going to face a loss. This can help them save their investment and carry on with a new cryptocurrency.
Although with the assumed market risks and loss Monero is considered as the safest currency like Bitcoin or Ethereum. The market value, privacy, security, and growth rate of Monero is promising and this is the reason Monero is attracting more investors. If you are looking to buy or mine for Monero then it is a wise decision that can help you create a fortune.