To the naked eye, it may seem that anonymous coins move on their own, regardless of the rest of the crypto market. There are also suggestions that they carry an increased risk. But there are those who believe in the benefits of investing in anonymous coins because of their censorship resistance. As a result, it turned out that their quality is essentially no different from the rest of the cryptocurrency world.
Of course, the scenario of further alienation of anonymous cryptocurrencies from Bitcoin is not excluded. This may be due to both an additional onslaught of regulators and the fact that attackers will use less and less bitcoins and more and more anonymous coins in their illegal activities. Recall that there are indeed problems with confidential cryptocurrencies with trading platforms. For example, on February 19, 2020, the Bit exchange will stop supporting Monero. We wrote about other cases of delisting in a separate article.
Cryptocurrencies have repeatedly moved in tandem during the fringe periods. Altcoins are an excellent example, the price of which has crept up after the SEC decision on March 10, although more alternative cryptocurrencies have significantly lost their positions in the month.
The Monero cryptocurrency is one of the few that really ensures the privacy of its users, since the system hides the addresses of counterparties, the amount of transfers, signatures and other details that can be used to identify an individual member of the network. Unlike Bitcoin and other coins, which store transaction history in the public domain:
- recipient addresses
Monero (XMR) is a cryptocurrency that allows you to hide from states, corporations and other people. This is its main advantage and at the same time the main disadvantage, since it is likely that such money will be banned in some countries. If this happens, the XMR rate will quickly go into a big negative. If anonymous currencies are left alone, then Monero has all the conditions for long-term growth.
For the early adopters of the cryptocurrency industry, Bitcoin is more than just an investment vehicle. A crypt is a whole idea that, according to enthusiasts, should completely change the world. Economist Max Kaiser said on the RT channel that BTC can be compared to gunpowder, because now cryptocurrency is already being considered as a potential threat to the traditional financial system.
The difference in exchange rates is also explained by the fact that everyone has their own conditions. For instance:
- the exchange service may offer a low rate, but there is an additional commission, the rate is not fixed at the time of application, and the minimum purchase amount is 1 Bitcoin.
- the service has a higher rate, while it is fixed(therefore there will be no unpleasant “surprise” at the end), there are no additional commissions, you can buy from 0.1 BTC.
It remains to weigh the pros and cons, make several calculations and choose the exchanger with which it will be profitable to work. Pay attention to small details and work only with trusted services.