Monero (XMR) - A crypto worth accumulating for the long haul CryptoRecorderMonero (XMR) is an interesting cryptocurrency. It rarely gets hyped like most other cryptocurrencies, yet it is one of the fundamentally strong coins. Under current ... […]
Monero (XMR) is an interesting cryptocurrency. It rarely gets hyped like most other cryptocurrencies, yet it is one of the fundamentally strong coins. Under current market conditions where there isn't much movement in prices, it is easy for Monero (XMR) to get skipped on by investors getting into crypto for the first time. However, Monero (XMR) happens to be one of the cryptos with the greatest potential in this market. Several factors support Monero as a top crypto, one that has the potential to make it big in the next crypto bull run.
For starters, Monero (XMR)
is extremely good at its core functionality of privacy. Monero (XMR) is one of
the best privacy coins in the market. A pointer
to this is the high usage of Monero (XMR) in the darknet. The fact that it is popular in the darknet
means that its core functionalities are perfect for making private
transactions. This is a big market, and one that will only get bigger over
time. That's because people will always have the need to shield their
transactions, the motives notwithstanding. That's why offshore destinations are
always on the rise, all across the world. In essence, the fact that Monero
(XMR) is big in this market makes it a safe crypto investment in the long run.
As its usage in the privacy market grows, Monero (XMR)'s demand will rise, and
so will its long-term demand.
Linked to Monero's privacy
is its fungibility. The fact that a unit
of Monero (XMR) has the same value as the next unit makes it a very powerful
cryptocurrency. That's because this aspect to it makes it money, just like fiat
currency. The only difference being that it very scarce. The aspect of scarcity
brings in the second strength to Monero, and that's scarcity as a value driver.
Supply is one aspect to
crypto that most people tend to overlook when analyzing the viability of cryptocurrency
investments. However, cryptocurrencies are not immune to the laws of demand and
supply. As such, cryptocurrencies that
have a low coin supply have a better chance of performing better in the long
run, due to demand chasing a fewer number
of coins. Monero (XMR) is one of the coins with a low coin supply, just like
Bitcoin (BTC). This makes it a good bet for the future, since it has a low coin
supply, and other fundamentals to back it up.
On top that, Monero (XMR)
has a strong community backing it up. Monero is ASIC resistant, and is
completely community driven. This makes it one of the most decentralized cryptocurrencies
in the market. This is important because, it means, Monero (XMR) cannot be
censored, and that's key to drawing in users in the long-haul.
With such fundamentals
supporting it, Monero (XMR) comes off as a cryptocurrency that has some huge
prospects for growth in the future. It is never hyped much, but its
fundamentals place it in a good position to shine. It is a safe crypto to hold
no matter how long the bear market lasts.
Monero (XMR) - A crypto worth accumulating for the long haul CryptoRecorderMonero (XMR) is an interesting cryptocurrency. It rarely gets hyped like most other cryptocurrencies, yet it is one of the fundamentally strong coins. Under current ... […]Read More