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This Is Why Monero (XMR) Is Going To Keep Running

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At the start of this year, Monero (XMR) went for around five dollars apiece. Fast-forward 12 months and the coin currently trades for $277, having dipped from highs recorded midweek just shy of the $300 mark. Much of today’s mainstream media coverage of the space is rooted in the incredible rise in price we’ve seen in bitcoin and, to a lesser degree, Litecoin and Ethereum.

As Monero’s 6,000% 12-month appreciation illustrates, however, these mainstream coins aren’t the only ones that have produced supranormal returns for early investors.

So what’s behind the action in this relatively under the radar token and what can we expect next?

Let’s try and answer those questions.

For anybody new to Monero, the coin is very similar in concept to something like bitcoin or Litecoin but, at the same time, it’s designed in such a way so as to promote a considerable degree of security and anonymity. It’s based on a protocol called CryptoNote which essentially ensures its untraceability, whoever is spending it or receiving it and – at the same time – whoever is trying to follow the coins from one place to another.

There are a couple of reasons why this one is gaining strength right now.

First, it has garnered a very large community of followers, both in terms of your everyday cryptocurrency population and, in addition, some of the biggest names in both this sector and the mainstream security space.

Monero Chart

Monero Chart

One of these individuals that’s noteworthy is John McAfee, cybersecurity entrepreneur and current CEO of publicly traded MGT Capital Investments Inc. (OTCMKTS: MGTI). McAfee went on record as stating that Monero has the potential to challenge bitcoin as a leading cryptocurrency and, while this seems like an outlandish statement right now, McAfee has proved many wrong in the space already and it would be foolish to write him off, whatever he’s predicting.

So, outside of a McAfee validation, we are also seeing some mainstream commercial interest in Monero and this is, once again, serving to buoy sentiment towards the token.

Specifically, and as per the most recent development for the company and its coin, news hit press this week that more than 40 top recording artists, including Slayer, Weezer, G-Eazy, Sia and Fallout Boy (among others) are now offering their records in return for Monero as a payment method. Notably, Mariah Carey (who is especially big at this time of year) is offering a 15% discount on her website to anybody that pays with Monero.

The arrangement came together as part of what is being referred to as Project Coral Reef and is really one of the first times we’ve seen a large-scale adoption of this type of technology in the music industry; we’ve seen single artists do a similar sort of thing but there are no examples of more than 40 artists coming together, and especially of this caliber, to accept one particular coin.

So what’s next?

Security and anonymity is very high on people’s lists of priorities right now and is becoming increasingly so in the wake of things like the Equifax Inc. (NYSE:EFX) data breach earlier this year.

Coins like Monero offer a simple solution to these concerns and, right now, it’s the coin that is at the top of the list from a privacy perspective.

For us, this suggests that there is still a long way to go in terms of upside potential as the company and its coin grow to satiate the ever-increasing market and consumer demand for exactly the product it’s offering.

Keep in mind that we may see a near term correction (a little deeper than the one that just took place) but, in line with this, any correction could be an opportunity to pick up some cheap coins.

We will be updating our subscribers as soon as we know more. For the latest on bitcoin, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Monero.org

Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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