Should You Exchange XMR to BTC?

XMR is one of the most popular cryptocurrencies because of the high degree of anonymity of its users. In the Monero network, only transaction participants and those who will be given a special access key know the amount, sender, and recipient addresses. That’s why XMR is often used for money laundering. 

What is Monero (XMR) cryptocurrency?

Monero (XMR) is an anonymous decentralized cryptocurrency, which appeared on April 18, 2014. The developers took Bitcoin code as a basis, which in turn uses CryptoNote protocol. Thanks to this protocol, Monero transactions are truly untraceable & the technology that lies behind it is superior to that of other anonymous cryptos (at least, according to MasterTheCrypto research). 

In general, the number of coins may not be limited, but at the start of the project 18,400,000 coins were issued. Monero uses CryptoNight encryption algorithm and Proof Of Work (PoW) reward mechanism. Some other advantages of XMR:

• XMR, due to its stealth addresses, is much more secure than the vast majority of cryptocurrencies. It was this fact that once helped make a spike in demand for Monero. And thanks to it Monero then was in the top 20 in terms of capitalization.
• Monero continues to be among the leaders of anonymous cryptocurrencies. If the developers continue to work on their project, popularize it, and integrate it into other projects, the price of Monero will increase.

Now, let’s talk about price. XMR reached a peak of $470 in 2018, and then it crashed to $40. Over the following years, XMR traded between $50 and $100. But in 2021, XMR got very close to its previous all-time-high and surpassed it – Monero’s new ATH is $483.58. As of January 13, 2022, XMR price is $217.89.

How does Monero work?

Monero (XMR) is a decentralized network that combines ring signature technology with the ability to send coins to wallets that are invisible to the observer. By doing so:

• The sender hides their identity by co-signing the transfer with other users.
• The observer cannot find the transaction history of an individual wallet (stealth technology that has been mentioned).
• It becomes possible to hide information about the size of the transfer from outsiders. It is impossible to understand from the public key how many coins were included in a separate record.

Monero is more adaptive in comparison to Bitcoin. As of June 2021, it took approximately 120 seconds to build a single block on their network, compared to the nine minutes it takes with Bitcoin. The recipient of Monero will see information about the transfer a couple of minutes after it is sent. According to the community’s founders, the transaction will be considered fully confirmed no more than 26 minutes after it is sent. It could help to find the best crypto brokers Singapore.

What Is the Difference Between XMR and BTC?

In general, XMR is fundamentally different from BTC in terms of cryptography used. Their differences can be presented in the form of a table:

Monero tends to truly protect the privacy of its users. If, in the case of Bitcoin, you can check from what wallet and where funds were sent. Monero doesn’t allow anyone to do so. In the Bitcoin blockchain, any member of the cryptocurrency community can see the sender’s and recipient’s wallet addresses, as well as the transfer amount and balance. As a result, this information is available to cybercriminals and government officials.

In the case of Monero, transfers are made using CryptoNight technology. The sender is not just one person, but an entire group. Several users’ details are entered into the chain, and only the addressee can confirm the transaction by giving their private secret key. The recipient is protected from de-anonymization by a one-time wallet number. This makes it impossible to identify counterparties. Some members of the crypto community believe Monero is what Bitcoin should have looked like. 

Monero to Bitcoin Crypto Converter 

To swap XMR to BTC and vice versa you need to use a special service. It is a website that receives your XMR coins and sends you BTC coins. Today the best converter Monero to Bitcoin is Godex. It is a reliable service that provides you with a calculator and an exchange platform that, like Monero, doesn’t require or store any user data. This calculator shows you the proportions of XMR to BTC swap in real-time. The main advantages of Godex:

• A solid variety of altcoin choices. 
• Simple user interface.
• No KYC (Know Your Customer) and need to register. 
• Quick transaction speed.
• Low fees.

Godex is the best anonymous cryptocurrency converter with a real-time calculator.

On a Final Note

The purchase of the XMR coins is available on many P2P services and cryptocurrency exchanges on the web. 

As of 2022, https://godex.io/ is the best anonymous crypto exchange that respects your confidentiality. Here, except for XMR, you can exchange over 300 cryptocurrencies. At the same time, you get full information about the coin and a convenient calculator that shows your profit from Monero to Bitcoin trade. 

Investing in Monero seemed very promising right from the start, so if you’re thinking about where to invest your Bitcoins, it’s a good idea to try XMR. The team behind the project releases and maintains lots of documentation on how to work with Monero and they’re conducting in-depth research in privacy coins, confidential transactions, and technology that enables them. 

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