If you are looking for a digital currency which is super private and hence no one can track your transactions Monero (XMR) is the digital currency you are looking for.
Monero is a modern crypt0currency and was invented in April 2014 that follows a decentralised model and offers the private and instant fund transfer. It is claimed to be a scalable and secure option for sending and receiving money across the globe. Monero is based on cryptonote protocol which adds an obfuscation layer to the standard cryptocurrency protocol. The language in which Monero has been designed is C++. Monero features a transparent block-chain that is easily available for the downloading context. Monero enables a personal platform of exchanging the digital cash in a flash and charge a nominal transaction fee.
It is a fungible currency that can be exchanged for a number of universal and crypto-currencies like USD, Euros, GBP, Bitcoin etc.
If you are looking to buy Monero here is a Monero Buying Guide
The stupendous privacy feature of Monero is one point that makes it stand apart from the anonymous Bitcoin. Unlike Bitcoin, Monero does not create a standard address in the blockchain for every transaction. Rather, it generates one time address for the given transaction.
Practising the flexible policy in case of Monero, the size of block chain is not fixed but is expanded or contracted as per the demand in the previous account. Whereas, Bitcoin has addressed the limitation of block-size by introducing various forks (Bitcoin Cash).
Monero allows the CPU mining which is a missing case in the net of Bitcoin. Monero was originally called as BitMonero a name christened on Bitcointalk forum.
The exchanges offering the pairing of Bitcoin for Monero are Shapeshift, Poloneix, Bittrex, Bitfinex, and Bitsqure. Whereas the exchanges that offer the Monero for USD, GBP (Great Britain Pound) and Euros are Bitfinex and MoneroDirect.
The exchanges that involve the trading of the Monero Coins are listed below:
Monero is among the top slot of crypto-coins, that is a close competition for the lead champions of crypto-currency markets, such namely:
· Z Cash
The limitation of the Monero range from its limited usage to its presence in fewer geographies (South-America, Africa and Asia). The mining of Monero represents an egalitarian flavour which is largely covered in 4 large pools. In a way, it puts the power/authorisation in the zone of a small number of people.
In the era of smartphones, where almost every operation is capable of being performrd via it, Monero has not provided an option of Phone wallets, which is a major drawback.