Monero (XMR) Trading Up 6.2% This Week

Monero (CURRENCY:XMR) traded down 1.4% against the dollar during the 24-hour period ending at 16:00 PM E.T. on May 4th. During the last seven days, Monero has traded up 6.2% against the dollar. One Monero coin can currently be bought for approximately $66.42 or 0.01162411 BTC on popular cryptocurrency exchanges including Kraken, Stocks.Exchange, Exmo and BitBay. Monero has a total market cap of $1.13 billion and $35.36 million worth of Monero was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

  • Bytecoin (BCN) traded down 1.5% against the dollar and now trades at $0.0009 or 0.00000016 BTC.
  • DigitalNote (XDN) traded down 6.4% against the dollar and now trades at $0.0014 or 0.00000024 BTC.
  • Boolberry (BBR) traded 5.3% lower against the dollar and now trades at $0.77 or 0.00013502 BTC.
  • BitNewChain (BTN) traded down 1.9% against the dollar and now trades at $0.0504 or 0.00000882 BTC.
  • Aeon (AEON) traded down 3.6% against the dollar and now trades at $0.37 or 0.00006466 BTC.
  • BitTube (TUBE) traded up 4.6% against the dollar and now trades at $0.0399 or 0.00000698 BTC.
  • Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Karbo (KRB) traded 1.6% higher against the dollar and now trades at $0.0774 or 0.00001355 BTC.
  • Sumokoin (SUMO) traded 3.5% higher against the dollar and now trades at $0.0382 or 0.00000669 BTC.
  • Digital Insurance Token (DIT) traded up 0% against the dollar and now trades at $0.0016 or 0.00000027 BTC.

Monero Profile

Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on June 2nd, 2014. Monero’s total supply is 16,960,540 coins. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The official message board for Monero is forum.getmonero.org. Monero’s official website is www.monero.cc. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here.

According to CryptoCompare, “Ring Signature The Basics In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members’ keys was used to produce the signature. For instance, a ring signature could be used to provide an anonymous signature from “a high-ranking White House official”, without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup).   Application to Monero A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a “ring” of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent). To read how Monero gives you privacy by default (unlinkability), see stealth addresses. “

Buying and Selling Monero

Monero can be bought or sold on these cryptocurrency exchanges: SouthXchange, Bitfinex, Livecoin, Poloniex, Huobi, Coinroom, HitBTC, Coinut, BTC-Alpha, Cryptopia, Graviex, Mercatox, Coinbe, OKEx, Ovis, Bitlish, Bitbns, Instant Bitex, Nanex, LiteBit.eu, TradeOgre, B2BX, Tux Exchange, BTC Trade UA, Bithumb, Bittrex, DragonEX, Braziliex, Crex24, Exmo, Trade Satoshi, Binance, Coindeal, CoinEx, Gate.io, Stocks.Exchange, Exrates, Waves Decentralized Exchange, Cryptomate, OpenLedger DEX, Bisq, BitBay, Liquid, Upbit and Kraken. It is usually not presently possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the exchanges listed above.

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