How to obtain Monero in 2021?

The most effective way to obtain Monero tokens is to choose a reliable and secure trading platform, register with it and exchange money for tokens. Competition in this field is fierce, and online brokers are constantly innovating to win over as many wallets as possible. These include eToro, Libertex, AvaTrade, Interactive Brokers, IG,Plus500…etc. There's another way to obtain tokens (XMR): mining, which involves installing specialized software on your computer and then letting the processor or graphics card do the work. To get started with Monero mining, the Minergate site remains the most accessible, especially for beginners.

Monero euro price chart:

As can be seen from this chart, Monero is experiencing a more or less stable uptrend in 2021, unlike in previous years.

Current Monero exchange rate:

On February 23, 2021, the price of the Monero token ( XMR) reached 163.94 euros.

Historical Monero prices:

Since its launch, Monero has encountered lows that have made it stronger, and highs that have encouraged it to progress. The timeline below sums up the major moments through which this cryptocurrency has passed, and helps us to understand the challenges it faces:

2014-2015: Monero is launched for the first time in April 2014. The first recorded value is equal to 2.21 euros. A few months later, this drops phenomenally. By the end of 2014, one token ( XMR) costs 38 cents.

2016-2017: in 2015, the cost of a token ( XMR) did not exceed the 1 euro threshold. It wasn't until June 2016 that the cryptocurrency entered a real positive dynamic. By then, its unit was trading at 8 euros. In 2017, its success began to become apparent, gaining a value of 120 euros between June and August 2017.

2018-2019: At the end of 2017, Monero makes remarkable progress, its price touches 330 euros. In December, we talk about its "All Time High": 1 token ( XMR) = 430 euros. In 2018, the value drops considerably, stagnating and settling at around 41 euros in 2019.

2020: Monero's price is back on track. Especially since March: one token ( XMR) trades for 127 euros.

What factors determine the price of Monero and cause its value to fluctuate?

Like any other currency, Monero's value depends on supply and demand. The equation is quite simple: if demand increases, supply decreases and the value peaks, and vice versa. Other factors also play a part in the fluctuation of this value:

-More or less effective media coverage.

-The price of competing cryptocurrencies: Bitcoin among them.

-Dominant investments create an imbalance in the token market.

-The difficulty of considering decentralized money as an alternative to traditional money.

-The absence of a legislative arsenal to protect users and regulate the cryptocurrency market.

What is Monero?

Launched by Nicolas Van Saberhagen in 2014, Monero is one of the most influential digital currencies in cryptocurrency history. It was developed in response to Bitcoin's inability to ensure the confidentiality of its customers' transactions. Nicolas Van Saberhagen developed a complex system to make users' transactions untraceable. In other words, Monero works with CryptoNote, an open-source protocol that blurs the tracks of both the sender and receiver of a transaction. From the outset, Monero has been well received by users. Firstly, because it preserves anonymity, an advantage not offered by other cryptocurrencies. Added to this is the fact that its currency can be exchanged for services. Monero boasts 200 employees, a committed team who work scrupulously to improve its performance. In the ranking of the best cryptocurrencies 2021, it appears in the top 10. Today, it has a capital of $17 million.

Monero features explained:

Monero has three features that set it apart from other cryptocurrencies:

Decentralization: Monero has no centralized structure. Its complex IT system allows it to have the same advantages as a centralized currency, without actually being one.

Fungibility: All units are interchangeable and have equal value.

Anonymity: User addresses are encrypted. Transactions cannot be traced in any way.

How does Monero work?

With Monero, every user has a public address for his wallet. This address can be used to receive funds. On the other hand, when they make transfers themselves, this address disappears, and is not visible to the receiver, or to anyone else wishing to inspect the movement of the wallet. The way Monero works, then, is an association between reception-visibility versus transmission-invisibility.

Monero blockchain explained:

Since November 2019, the Monero blochchain has been running on RandomX, an algorithm with high cryptographic capability. In particular, it is considered an ultra ASIC-resistant system. Thanks to it, it is now possible to set up mining operations via CPU (central process) or GPU ( graphics card). RandomX has been specially developed to overcome the shortcomings of Cryptonight, Monero's previous algorithm. Demonstrating formidable efficiency, it is forecast to achieve a mining capacity of : 18,446,744 tokens ( XMR).

Monero targets:

The main objective emphasized by the Monéro team is, of course, respect for privacy. These days, it's hard to use resources without them being registered somewhere. Monero's developers have therefore worked to make tokens (XMR) a kind of equivalent to cash that can be used without being traced.

What is Monero used for?

Monero fulfills the same role as any other currency: it can be exchanged for products or services. What's more, it can be a wealth generator if its monetary value rises. To do this, you need to buy tokens (XMR), hold them and wait for the right moment to exchange them for a traditional currency or another cryptocurrency.

Why use Monero?

Monero is the only cryptocurrency developed today which, in addition to the services offered by dominant cryptocurrencies such as Bitcoin and Ethereum, enables confidential and anonymous transactions.

Monero Avis: Is it too late to invest?

Although its value today isn't quite what it was in 2018 ($500), Monero seems to be moving slowly and surely towards success. Forecasts are encouraging for both the medium and long term. So it's not too late to invest. It's worth noting, however, that every investment, in cryptocurrency in this case, has an unknown front, which proves that risks are constantly, present. So, the wisest thing to do would be to invest what you're prepared to lose.

Frequently asked questions :

Can we trust Monero?

As Riccardo Spagni, former Monero maintenance manager, testifies in an interview he recently granted ( October 28, 2020) to BeinCrypto: overall, transactions are reliable. The Monero team works both, to ensure confidentiality and to protect its users.

How much is a Monero token worth?

A Monero token is currently worth 180.68 euros.

What can I buy with Monero tokens?

More and more websites are integrating Monero into their systems as a payment currency. Particularly in the field of video games. The iconic game Fortnite and the Twitch website, for example, accept payment by tokens ( XMR). That said, if this payment method isn't available, you can always exchange it for the currency of your choice.

Where can I store my Monero tokens?

It's essential to store your tokens (XMRs) in a secure wallet. Several platforms, such as Coinbase, Bitbay and Binance, offer this kind of service. However, you need to be well informed before choosing your wallet.

What happens if I lose my Monero tokens?

Unfortunately, the risk of losing tokens (XMRs) is always present, especially if they are not kept in the right wallet. Nevertheless, it is possible to recover them. To do this, you need to contact the maintenance department and follow their instructions to the letter.

How can I protect my Monero tokens?

Platforms: Web Wallet, Hot Wallet, Hardware Wallet, Paper Wallet offer more or less effective protection. It all depends on how you use the Monero.kens Monero ?

How many Monero tokens are in circulation worldwide?

The number of tokens ( XMR) reached 17,847,120.

Other cryptocurrencies in 2021