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Decentralization is one of the chief pillars of cryptocurrency. Some cryptos fall under the control of large entities. It makes them less private and more centralized. Without privacy, the security of crypto transactions cannot be guaranteed. Many crypto investors want to invest their money in a coin that has the highest level of anonymity, and Monero is one of them.
Monero (XMR) is a decentralized cryptocurrency launched in 2014. The Monero blockchain works on a proof-of-work (PoW) consensus mechanism, which means it is possible to mine XMR. Anyone with a simple CPU (a computer or phone) can mine XMR.
Here are some of the other characteristics of the XMR token:
- throughput of up to 1,700 TPS;
- high security enabled by RingCT;
- no supply limit;
- current supply of over 18M XMR;
- market cap of around $3B.
Unlike transparent blockchains like Bitcoin and Ethereum, which show all transactions publicly, Monero uses advanced cryptography to hide sender addresses, amounts transacted, and receiver addresses. If you want to conduct a BTC to XMR swap with complete anonymity, you’ve come to the right page.
Monero’s Anonymity Features
The Monero blockchain uses stealth addresses. They allow users to create unique one-time public addresses that cannot be linked to the participants of the transaction.
Other technologies Monero uses are Ring Confidential Transactions (RingCT) and ring signatures.
A ring signature is a mechanism that obfuscates users’ IPs. It combines the digital signature of a sender with the signatures of other traders. The RingCT hides the value of a transaction, solidifying XMR’s privacy coin status.
You can use exchange platforms like godex.io to ensure the anonymity and promptness of the XMR exchange.
What Is Wrong With Monero?
Coinholders, the backbone of any cryptocurrency, have varying opinions on Monero’s anonymity. Many cryptocurrency enthusiasts see financial privacy as their human right. They believe individuals should have the freedom to transact without surveillance. Reviews from Monero coin holders are often strongly in favor of preserving anonymity. However, regulatory pressures on privacy coins are increasing.
Government authorities in several countries like the US and the UK have put pressure on exchanges to delist Monero due to these concerns. Several exchanges have delisted Monero, while others face pressure to follow suit.
XMR Delisting Threats
OKX, a cryptocurrency exchange, announced its decision to delist 20 spot trading pairs in the new year. Among the tokens listed are several privacy-focused cryptocurrencies, including Monero. Exchange platforms like Kraken, EXMO, and BittrexXMR have also threatened to delist the XMR coin in the past.
The primary concern raised by these platforms revolves around the anonymity provided by Monero, which allegedly poses challenges in complying with anti-money laundering (AML) and know-your-customer (KYC) regulations. But despite the decrease in liquidity and price drop, Monero stands firm on its privacy principles.
Does XMR Have a Future?
The ability to conduct anonymous transactions is not the only thing that Monero can leverage to drive its price higher. Set block rewards, mining accessibility, and absence of supply limit are the reasons most miners turn to Monero and increase its price.
The previous XMR price tendencies proved the coin’s growth. Experts from CoinPedia see XMR breaking the $400 in 2025. Moreover, they believe that the coin will reach its new all-time high of $599.5 by 2026.
Another source in the face of DigitalCoinPrice is as optimistic and predicts that Monero can be traded for a price of up to $600 by 2026.
