Monero (CURRENCY:XMR) traded down 1% against the US dollar during the 24 hour period ending at 2:00 AM ET on July 29th. Monero has a market cap of $1.53 billion and approximately $19.80 million worth of Monero was traded on exchanges in the last day. Over the last week, Monero has traded 20% lower against the US dollar. One Monero coin can now be bought for $94.04 or 0.01484683 BTC on cryptocurrency exchanges including Mercatox, Cryptomate, OpenLedger DEX and Upbit.
Here’s how similar cryptocurrencies have performed over the last day:
- Bytecoin (BCN) traded 0.4% higher against the dollar and now trades at $0.0019 or 0.00000029 BTC.
- DigitalNote (XDN) traded up 1% against the dollar and now trades at $0.0034 or 0.00000054 BTC.
- Aeon (AEON) traded down 14.7% against the dollar and now trades at $0.77 or 0.00012216 BTC.
- Boolberry (BBR) traded 0.7% lower against the dollar and now trades at $0.63 or 0.00010003 BTC.
- BitTube (TUBE) traded down 0.6% against the dollar and now trades at $0.0482 or 0.00000762 BTC.
- Karbo (KRB) traded 4.4% lower against the dollar and now trades at $0.19 or 0.00002936 BTC.
- Sumokoin (SUMO) traded 0.1% higher against the dollar and now trades at $0.16 or 0.00002600 BTC.
- Stellite (XTL) traded 6.9% lower against the dollar and now trades at $0.0002 or 0.00000003 BTC.
- IntenseCoin (ITNS) traded up 0.3% against the dollar and now trades at $0.0020 or 0.00000032 BTC.
- Leviar (XLC) traded up 5.4% against the dollar and now trades at $0.0092 or 0.00000145 BTC.
Monero Coin Profile
Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on June 2nd, 2014. Monero’s total supply is 16,266,706 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The official message board for Monero is forum.getmonero.org. Monero’s official website is www.monero.cc.
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: OpenLedger DEX, OKEx, Livecoin, Poloniex, TradeOgre, Bithumb, Waves Decentralized Exchange, Bitbns, Ovis, Braziliex, Binance, Tux Exchange, Cryptopia, B2BX, Nanex, Kraken, Huobi, Coinbe, Cryptomate, Coinroom, BTC Trade UA, Bittrex, Bitfinex, Qryptos, SouthXchange, Mercatox, Upbit, Coinut, Crex24, Exmo, CoinEx, LiteBit.eu, Stocks.Exchange, Bisq, HitBTC, DragonEX, Bitlish, BTC-Alpha, BitBay, Trade Satoshi, Exrates and Gate.io. It is usually not currently possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to trade Monero should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase 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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