Monero: what it is, how it works and what are the differences with Bitcoin
Among the most popular investment sources in recent years, the so-called crypto-currencies certainly stand out. In fact, many decide to buy them every day in an attempt to use alternative investment sources to the classic ones. Monero (XRM) is an emerging crypto, whose name derives from “currency”. Precisely, it has been on the market since 2014 , and was born mainly to offer a reliable and decentralized tool, based on privacy and scalability, a sort of substitute for the coins we use every day. Monero is a cryptocurrency that can offer very sophisticated protection . Thanks to this characteristic, in 2017 Monero qualified as the most traded cryptocurrency of the moment. This means that, to date, this particular crypto-currency is recommended to all those who intend to approach this particular sector. However, if you do not have the right investment experience, it is always advisable to consult a professional before buying.
How to buy Monero?
The monero cryptocurrency works similarly to other cryptocurrencies on the market, such as Bitcoin (perhaps the best known currency). Furthermore, not everyone knows that buying this particular crypto currency could be a difficult operation that also takes a long time due to the necessary verifications. Precisely for this reason, it may be easier to buy bitcoins to convert, then, into Monero. This operation, only apparently difficult, can be implemented in two ways: by trading via CFD (this means that you do not proceed with the direct purchase of the cryptocurrency, but by investing in increases or decreases) or creating a wallet and, subsequently, convert from Bitcoin to Monero or vice versa. To do this, it is necessary to use a platform that allows the conversion of the cryptocurrencies in question.
Monero and Bitcoin
At this point it is appropriate to make a distinction between the best known crypto-currency and Monero. Only in this way, in fact, is it possible to better understand the characteristics of this cryptocurrency. The latter, in the same way as Bitcoins, uses blockchain technology (also commonly known as the block chain). In general, all (or almost all) cryptocurrencies base their operation on the blockchain which operates as a sort of perpetual register that allows the various checks to be carried out. Simply put, if someone wanted to change even a single letter or digit in a given block of transactions, they would change all subsequent blocks. It is precisely for this reason that the blockchain technology was developed which allows cryptocurrencies to operate without any problem. However, there are some differences. First of all, Bitcoins use a system of registers that allow you to track exchange operations in a public way. Furthermore, bitcoins can be bought very easily since, in fact, it is the most used cryptocurrency. However, they both have the same characteristics: speed, transparency, non-refusal, decentralization, anonymity, and many more.
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The article Monero: what it is, how it works and what differences with Bitcoin comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/monero-cose-come-funziona-e-quali-differenze-con-il-bitcoin/ on Mon, 25 Oct 2021 01:00:54 +0000.