Monero (CURRENCY:XMR) traded 1.2% lower against the US dollar during the 1 day period ending at 8:00 AM Eastern on November 7th. One Monero coin can currently be bought for about $62.93 or 0.00683895 BTC on major cryptocurrency exchanges including HitBTC, Bitfinex, Trade Satoshi and SouthXchange. During the last seven days, Monero has traded up 6.9% against the US dollar. Monero has a total market cap of $1.09 billion and $269.43 million worth of Monero was traded on exchanges in the last 24 hours.
Here’s how similar cryptocurrencies have performed during the last 24 hours:
- Bytecoin (BCN) traded 4.7% lower against the dollar and now trades at $0.0004 or 0.00000005 BTC.
- Monero Classic (XMC) traded down 3.1% against the dollar and now trades at $0.33 or 0.00003614 BTC.
- DigitalNote (XDN) traded up 9.2% against the dollar and now trades at $0.0006 or 0.00000007 BTC.
- Aeon (AEON) traded up 4.4% against the dollar and now trades at $0.26 or 0.00002798 BTC.
- BitNewChain (BTN) traded down 0.2% against the dollar and now trades at $0.0144 or 0.00000156 BTC.
- Boolberry (BBR) traded down 2.1% against the dollar and now trades at $0.16 or 0.00001747 BTC.
- BitTube (TUBE) traded 4.9% lower against the dollar and now trades at $0.0097 or 0.00000105 BTC.
- Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
- Digital Insurance Token (DIT) traded 2.7% lower against the dollar and now trades at $0.0032 or 0.00000035 BTC.
- Karbo (KRB) traded down 2.3% against the dollar and now trades at $0.0598 or 0.00000648 BTC.
About Monero
XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was June 2nd, 2014. Monero’s total supply is 17,296,225 coins. The official website for Monero is www.monero.cc. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The official message board for Monero is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here.
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 purchased on these cryptocurrency exchanges: Bitlish, Tux Exchange, Instant Bitex, Bitfinex, Bisq, Gate.io, HitBTC, Bithumb, Binance, Cryptomate, Exrates, OpenLedger DEX, Exmo, SouthXchange, Coinut, BitBay, Stocks.Exchange, Bittrex, Livecoin, Liquid, OKEx, CoinEx, TradeOgre, Kraken, Nanex, LiteBit.eu, Coindeal, Waves Decentralized Exchange, Coinroom, Crex24, DragonEX, Coinbe, B2BX, BTC Trade UA, BTC-Alpha, Poloniex, Braziliex, Mercatox, Ovis, Trade Satoshi, Upbit, Bitbns, Cryptopia, Huobi and Graviex. It is usually not possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the aforementioned exchanges.