Monero (CURRENCY:XMR) traded 5.6% lower against the dollar during the twenty-four hour period ending at 17:00 PM E.T. on July 10th. Monero has a total market cap of $1.59 billion and approximately $130.50 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be purchased for about $93.26 or 0.00788218 BTC on major cryptocurrency exchanges including Coinbe, Crex24, BTC Trade UA and HitBTC. Over the last seven days, Monero has traded 5.8% higher against the dollar.
Here’s how other cryptocurrencies have performed over the last 24 hours:
- Bytecoin (BCN) traded 12.5% lower against the dollar and now trades at $0.0008 or 0.00000007 BTC.
- Aeon (AEON) traded 6.8% lower against the dollar and now trades at $0.74 or 0.00006287 BTC.
- DigitalNote (XDN) traded 21.4% lower against the dollar and now trades at $0.0012 or 0.00000010 BTC.
- BitNewChain (BTN) traded up 42.3% against the dollar and now trades at $0.0381 or 0.00000322 BTC.
- Boolberry (BBR) traded down 12.1% against the dollar and now trades at $0.43 or 0.00003677 BTC.
- BitTube (TUBE) traded 2.9% lower against the dollar and now trades at $0.0234 or 0.00000198 BTC.
- Stellite (XTL) traded 3.2% higher against the dollar and now trades at $0.0002 or 0.00000004 BTC.
- Digital Insurance Token (DIT) traded up 10.2% against the dollar and now trades at $0.0046 or 0.00000039 BTC.
- Karbo (KRB) traded 4.9% lower against the dollar and now trades at $0.10 or 0.00000873 BTC.
- Sumokoin (SUMO) traded down 8% against the dollar and now trades at $0.0357 or 0.00000302 BTC.
Monero Coin Profile
Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on June 2nd, 2014. Monero’s total supply is 17,086,582 coins. The official message board for Monero is forum.getmonero.org. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The official website for Monero is www.monero.cc. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed 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 purchased on these cryptocurrency exchanges: HitBTC, Bitfinex, Bitbns, Crex24, Liquid, Upbit, Tux Exchange, Binance, DragonEX, Exrates, SouthXchange, Graviex, Coinbe, Bitlish, Cryptopia, Gate.io, Nanex, TradeOgre, BTC-Alpha, LiteBit.eu, CoinEx, Stocks.Exchange, Coindeal, Braziliex, Bithumb, Coinut, OKEx, Coinroom, Huobi, OpenLedger DEX, Trade Satoshi, Poloniex, Ovis, BTC Trade UA, Instant Bitex, Livecoin, Cryptomate, BitBay, Exmo, Kraken, Bittrex, B2BX, Bisq, Waves Decentralized Exchange and Mercatox. It is usually not possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the exchanges listed above.
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