Monero (XMR) is an open-source cryptocurrency (accessible to all) that is mainly focused on privacy and decentralization. Monero is a private, secure, and untraceable cryptocurrency. With Monero, you are your bank because you solely control and are responsible for your funds. Your accounts and transactions are kept secure and private from interfering eyes.
Created in April 2014, Monero makes use of a public ledger to record transactions while new units are generated through a mining process. Monero aims to expand on current cryptocurrency design by obscuring sender, recipient, and size of transactions made on its blockchain as well as making the mining process more unrestricted.
Distributed consensus confirms all transactions and then untraceable recorded on the blockchain. Third-parties are not required to be reliable and trusted to keep your Monero safe. The focus on privacy has enticed illicit use by people interested in eluding law enforcement. The fair mining process made it possible to dispense the mining effort starting new funding avenues for both authorized online publishers and malicious hackers who stealthily embed the mining code into platforms like apps and websites. Monero features the use of ring signatures, private ring transactions, and covert addresses to obscure the origins, amounts, and destinations of every transaction. The provision of all the benefits and profits of a decentralized cryptocurrency is made by Monero, even without any of the usual privacy concessions.
Monero was priced at $13.352 on 1st of January, 2017. After just about a year, due to the rapid growth in value, it is currently $384.00 today, 11th of January, 2018.The price of Monero soared to a record high above $439.390 on the 21st of December 2017 while it went for as low as $10.495 on the 16th of January, 2017. The price of Monero at the end of 2017 was $348.25 giving the Monero a 2508.223% increase in 2017. An investment of $100 at the beginning of 2017 would have earned you over $2,500.00.
How To Buy Monero ( XMR ) From Changelly
Changelly doesn’t directly accept cash on the platform, but you can use a debit card connected to your bank account or a credit card, Master Card or Visa to buy some cryptocurrencies on the Changelly platform.
STEPS TO FOLLOW WHEN BUYING MONERO WITH USD CREDIT CARD
Purchase Monero with a USD credit card by merely inputting the amount in USD on the home page of Changelly. The real-time rate of all currencies will be seen there including the price of Monero XMR. This rates changes instantly depending on increase or decrease in the amount of this digital coin.
- On the homepage, select USD from the drop-down on the first box and XMR on the other. Input the desired amount in for purchase in the USD field, the amount of Monero you can purchase with the USD you’re entered will be generated in the other field. Click ‘Exchange!’.
- Check the amount, estimated rate and click ‘next’ advance to the next step.
- Input a recipient address, specifying your Monero wallet. You may need to add a payment ID if your wallet requires it. Else, this feature is optional, therefore, it is not necessary that you input it. Then, click next.
- Cross-check all the details provided carefully to avoid errors before processing. Click ‘Confirm and Make Payment.’
- You are required to enter your Credit Card details on this page. For this, enter your Credit Card number, you also need to input the expiration date of your Credit/Debit Card with its CVC number, this information is found at the back of your card. When all details are all entered, click on Pay button. This will show the amount in USD which Changelly will deduct from your Credit Card.
- Wait for a while until the transaction is complete.
- You get an issued receipt after a successful transaction as it displays ‘Transaction is completed.’ Make sure your transaction ID is noted down for security reasons.
You should get your Monero in your specified Monero Wallet within the next 30mins max. Make sure the wallet address you input is correct and also is the right wallet address for Monero and not for another coin. Failure to check and input the appropriate wallet address will make you lose your Monero coins.