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Monero (XMR): Everything you want to Know before Investing!

Monero (XMR) is one of the top 50 most popular cryptocurrencies currently. In terms of market cap, it is currently the 39th-largest digital currency (over US$4.6 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through Monero, its fundamentals, and the XMR price forecast.

What Is Monero (XMR)?

Monero project was launched in 2014 with the aim to allow users to make transactions privately and anonymously. This blockchain is better than Bitcoin in keeping identity of the senders private.

Initially, Bitcoins blockchain was thought to conceal the identity of a person. As blockchains are transparent, you can often trace payments back to their original source. However, Monero blockchain has been designed to use advanced cryptography, keeping the identity of senders and recipients private (through stealth addresses and thereby ring confidential transactions). 

According to the Monero development team, privacy and security are its top prioritizes, followed by efficiency and ease of use. No matter how technologically competent a user is, the Monero research labs aim to give protection to each of them. 

So, the goals of XMR can be summarized as ability to make payments:

  • Quickly.
  • Inexpensively.
  • Without fear of censorship.

There are 7 developers who developed Monero. However, 5 of them decided to remain anonymous, just like Bitcoin inventor Satoshi Nakamoto. In fact, these anonymous identities also fueled speculations that Satoshi Nakamoto also founded Monero. 

Monero (XMR): Facts & Figures

All these facts and figures (as of Oct 19, 2021) will help you to make a decision on investing in Monero. Before making Monero transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • XMR Price: US$252.31
  • Trading Volume (24h volume): US$137,523,611
  • All-Time High (ATH) Price: US$517.62 (reached on May 07, 2021)
  • All Time Low (ATL) Price: US$0.213 (reached on Jan 14, 2015)
  • 24h Low: US$253.27
  • 7d Low: US$252.96
  • YTD (Year-To-Date) Return: 87.47% YTD (Year-To-Date)
  • Market Cap: US$4,545,194,984
  • Crypto Rank (in terms of market cap): 39
  • Fully Diluted Market Cap: US$4,603,076,482
  • Max Supply: ---
  • Total Supply: 18,013,995
  • Circulating Supply: 18,013,945.12 XMR

These are the facts that made Monero a preferred medium of exchange. Always check out these market data and technical analysis before trading or investing. Also consult crypto financial advisors and get tips from them on trending coins. 

How Is the Monero Network Secured?

Prevention of centralization is one of the main goals of the Monero network. It uses CryptoNight consensus mechanism (based on Proof of Work or PoW) for securing the Monero network. The main advantage of this mechanism is that it prevents large mining farms to become a dominant force.

Where can you Buy XMR Tokens?

You can buy XMR coins in almost all reputed cryptocurrency exchanges including:

  1. Binance
  2. Huobi Global
  3. Mandala Exchange
  4. OKEx, 
  5. ZBG, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular price pairs of FIL are:

  • XMR/BTC
  • XMR/USDT
  • XMR/ETH
  • XMR/USD
  • XMR/EUR, and many more.

Before investing, check out historical data of token XMR, crypto news, Monero price charts, XMR to BTC exchange rate, and others.

What are the Best Crypto Wallets to Store Filecoin Tokens?

The best Filecoin wallets to store FIL coins are:

  1. Ledger Nano X 
  2. Trezor Model T 
  3. Ledger Nano S
  4. Exodus Wallet
  5. Cake Wallet
  6. Monerujo Wallet
  7. MyMonero
  8. Monero GUI Wallet

Invest in Monero and Other Cryptocurrencies

You can buy and sell XMR and other virtual currencies against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs/mobile app, and bitcoin cash markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other cryptocurrencies such as XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

Invest in NapBots: A Dynamic Cryptocurrency Index

Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies for enabling cryptocurrency investors to streamline their trading experience in new ways. 

NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error. 


Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading crypto-assets at reduced financial barriers and no human error.