Could it be the next Bitcoin? Cryptocurrency watchdogs say, very well could be. Set to launch mid-January, Monero (XMR) is not slated as an alternative to the widely-recognized Bitcoin. It’s a more powerful cryptocurrency and insiders say its release could increase 24-hour volumes by approximately $300 million USD. To that end, the derivative to Chinese currency (CNY) is garnering great interest as underground banks and investors in China await the release of RingCT – lauded as the most confidential and anonymous cryptography in the marketplace. Positioning themselves for the influx of transfers, Monero’s core team developers increased production and have announced the release of their beta GUI wallet.
Dodging tracing, surveillance, and monitoring, while being invisible on the blockchain, Monero will allow underground banks and investors to feel safer doing cryptocurrency transactions. Allowing people to take control of their money, consumer domination is forcing Okcoin and BTCC to integrate to XMR. Friendly-GUI wallets without fees for consumers, banks, and investors, the cryptocurrency is used to transfer funds into CNY outside the country to avoid deflation. Thus, the focus of Monero is to keep it valuable, less volatile, and extremely private.
A representative said, “China’s population will skyrocket the price of Monero. This could cause the next round of cryptonaires. With Bitcoin, some bought at $1 or $15 and the price is now around $800. It could be another baby boomer for cryptocurrency millionaires and remember the worth can be converted to USD easily.”
For more information visit https://getmonero.org/home.
About Monero (XMR)
Monero (XMR) is the only cryptocurrency that has the most complex state of the art cryptography. With its unique code that is totally different than Bitcoin, it is widely-recognized for its privacy and anonymity for use as digital currency. Riccardo Spagni is the Lead Core Developer for the open source project, Monero.
