Monero (CURRENCY:XMR) traded up 3.1% against the US dollar during the 24-hour period ending at 0:00 AM Eastern on May 14th. Monero has a market capitalization of $1.44 billion and approximately $69.49 million worth of Monero was traded on exchanges in the last day. One Monero coin can currently be purchased for approximately $85.05 or 0.01060681 BTC on cryptocurrency exchanges including TradeOgre, Bitfinex, Kraken and Bitlish. Over the last seven days, Monero has traded up 29.2% against the US dollar.

Here is how related cryptocurrencies have performed over the last day:

  • Bytecoin (BCN) traded up 2.3% against the dollar and now trades at $0.0010 or 0.00000013 BTC.
  • Boolberry (BBR) traded up 9.8% against the dollar and now trades at $1.08 or 0.00013460 BTC.
  • DigitalNote (XDN) traded up 4.1% against the dollar and now trades at $0.0014 or 0.00000018 BTC.
  • BitNewChain (BTN) traded 15.6% lower against the dollar and now trades at $0.0501 or 0.00000612 BTC.
  • BitTube (TUBE) traded up 5.6% against the dollar and now trades at $0.0524 or 0.00000653 BTC.
  • Aeon (AEON) traded 7.5% higher against the dollar and now trades at $0.48 or 0.00005976 BTC.
  • Stellite (XTL) traded 3.2% higher against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Karbo (KRB) traded 0.2% lower against the dollar and now trades at $0.0974 or 0.00001215 BTC.
  • Digital Insurance Token (DIT) traded up 0.9% against the dollar and now trades at $0.0021 or 0.00000026 BTC.
  • Sumokoin (SUMO) traded up 7.1% against the dollar and now trades at $0.0346 or 0.00000431 BTC.

About Monero

XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was June 2nd, 2014. Monero’s total supply is 16,981,367 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official website is www.monero.cc. The official message board for Monero is forum.getmonero.org. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible 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 the following cryptocurrency exchanges: Livecoin, BTC Trade UA, DragonEX, CoinEx, Bithumb, OKEx, Instant Bitex, B2BX, Coinroom, Bitbns, Bittrex, HitBTC, Crex24, SouthXchange, TradeOgre, Kraken, Waves Decentralized Exchange, Nanex, Ovis, Liquid, Huobi, Gate.io, Binance, Graviex, Cryptomate, Upbit, OpenLedger DEX, Cryptopia, Coinbe, Poloniex, BTC-Alpha, Mercatox, Bisq, Exrates, Exmo, Bitlish, Coindeal, LiteBit.eu, Coinut, Trade Satoshi, BitBay, Stocks.Exchange, Tux Exchange, Bitfinex and Braziliex. It is usually not presently possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to acquire Monero should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Monero using one of the exchanges listed above.

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