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Why Monero (XMR) should be Preferred over Bitcoin (BTC)

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You are definitely your own bank with Monero (XMR). It is an open source crypto which has climbed the ladder so fast since it was first launched in April 2014 due to it being secure, private and untraceable.

Monero (XMR) is absolutely private and ensures all that you trade the one you trade to, as well as the extent you trade, are completely unknown. In fact, all the transaction history of both the receiver and the sender are kept confidential and are untraceable.

The scenario for Monero’s introduction

Evidently, Monero (XMR) offers the highest security to its users as their transactions are not exposed at any rate. With other cryptocurrencies, Bitcoin, for instance, the addresses of the sender and the receiver are exposed publicly.

For this traceability concern, there was a need to sort it out so that user transactions can be obscured. The solution was, therefore, the introduction of Monero (XMR).

At this moment in time, if Monero and bitcoin were equally valued with same sized infrastructure, which crypto would you have, to spend, to hold, and to receive? One that announces all that you have when and how much spent? Or one that is so private, fungible and untraceable?

Basically, Monero (XMR) has ring signatures that scramble the addresses of the parties in a transaction – hence making it untraceable. Therefore, it holds the stage for being a number one crypto when it comes to privacy.

Does son beat father?

Why should Monero be preferred over Bitcoin? Undoubtedly, BTC was launched way early than Monero – to be specific in 2009 compared to Monero in 2014. Many got to know bitcoin more, and are therefore flocking to it, not that there are no better cryptocurrencies, but rather they are unaware of them.

Monero (XMR) is simply a superior choice than Bitcoin in comparison because of the following:

Superior mining algorithm

Monero (XMR) is best for long-term investment than Bitcoin (BTC). Adding to its perfect security, personal computers as well as ordinary laptops can aid in mining Monero, unlike Bitcoin which requires a special Application Specific Integrated Circuit (ASIC).

Seclusion

With Bitcoin, all the information about the sender and the receiver are visible which is not the case with Monero that has the highest anonymity. As more individuals learn more about the privacy of transactions offered by Monero, the more Monero’s valuation will grow – recent studies confirm.

Expected future valuation

This is just a no-brainer as the current price graph explains it all. There is simply a rapid growth when you look at the price of Monero (XMR) with an increase of 11.14% within the past 24 hours.

You would be wrong if you thought it was only the price that increased because its supply as well increased touching 16 million. Monero’s expected future value at the moment is $1000.

Sustainable transaction cost

Bitcoin’s transactions cost is basically unmatchable when compared to Monero, and as if that is not enough, they are time-consuming as well.

Apart from charging less transaction cost, Monero (XMR) provides faster transactions due to the high number of individuals that make use of it at a time.

I simply believe that Monero (XMR) is superior cryptocurrency just at the perfect time in terms of history – a time when adoption of cryptocurrencies is taking the stage.

We will be updating our subscribers as soon as we know more. For the latest on XMR, sign up for our free newsletter!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of descryptive.com/ via Flickr

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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