A Complete Guide to Cryptocurrency Trading for Beginners

Over time, Bitcoins have become a very well-known and popular form of currency. However, what is Bitcoin? The following article will examine the pros and cons of this currency that came out of nowhere and spread like wildfire. How is it different from regular currencies?

Bitcoin is a digital currency, it is not printed and never will be. They are conducted electronically, and this is also not controlled by anyone. They are produced by people and businesses, creating the first ever form of money known as cryptocurrency. While conventional currencies can be seen in the real world, Bitcoin works through billions of computers around the world. From Bitcoin in the United States to Bitcoin in India, it has become a global currency. However, the biggest difference from other currencies is that it is decentralized. This means that no specific company or bank owns it.

Who created it?

Satoshi Nakamoto, a software developer, suggested and created Bitcoin. He saw this as a chance to have a new currency on the market free from central authority.

Who is printing this?

As mentioned earlier, the simple answer is no one. Bitcoin is not a printed currency, it is a digital currency. You can even transact online using bitcoins. So you can’t produce unlimited bitcoins? Not at all, bitcoin is designed to never “mine” more than 21 million bitcoins in the world at once. Although they can be broken down into smaller amounts. The hundred millionth part of a bitcoin is called a “satoshi” in honor of its creator.

What is Bitcoin based on?

Bitcoin is mainly based on gold and silver for normal use. However, the truth is that Bitcoin is actually based on pure mathematics. It also has nothing to hide as it is open source. So anyone can look at it to see if it works as they claim.

What are the characteristics of Bitcoin?

1. As mentioned earlier, it is decentralized. It is not owned by any particular company or bank. Each Bitcoin mining software makes up a network and they work together. The theory was, and it worked, that if one network goes down, the money still flows.

2. Easy to set up. You can create a Bitcoin account in seconds, unlike the big banks.

3. It’s anonymous, at least in that your bitcoin addresses are not linked to any personal information.

4. It’s completely transparent, all transactions using Bitcoin are shown on a big chart known as the blockchain, but no one knows it’s you because there are no names associated with it.

5. Transaction fees are negligible and compared to bank fees, the infrequent and small fees charged by Bitcoin are close to zero. It’s fast, very fast. Wherever you send the money too, it usually arrives within minutes of processing.g. It is non-disputable, meaning that once you send your bitcoins, they are gone forever.

Bitcoin has significantly changed the world and the way we view money. Many people wonder if it is possible to live off Bitcoins. Some even tried to do it. Despite this, Bitcoin is now part of our economy, a unique kind of currency, and it’s not going away anytime soon.

Let’s recap crypto security and check out part 1 if you need to.

Bitcoin security is important. Your Bitcoin or any other cryptocurrency has a unique address, identification or private key. Therefore, you should be aware of the importance of keeping it safe. If you lose it, it is difficult to recover it, so it is necessary to secure it as best as possible.

I have to make this clear because safety must be of the utmost importance and should not be taken lightly.

There are countless stories of people who have lost access to their computers (due to negligence or abuse) and as a result have been unable to recover their bitcoins or other cryptocurrency. This should be equivalent to damage to the wallet due to pickpocketing or carelessness.

Fortunately, there is a way to doubly protect your assets. A secure hardware wallet ensures that in the event that you unfortunately lose access to your computer or tablet, etc. (by any means) you will be able to recover your bitcoins, ethereum, litecoins, etc.

A hardware wallet allows you to restore your cryptocurrency on any other computer as it is basically a USB connection that you use to secure your transactions.

The second level of security.

Trezor is an original hardware wallet that is easy to configure to keep your bitcoins safe. There are other products available, but for the rest of this article I’ve decided to look at the Trezor hardware wallet first.

The core tenet of Trezors bitcoin security is zero trust.

Using the Trezor screen, you can independently verify and physically confirm each transaction directly on your device.

It also asks you for a PIN every time you log in. So you are always present.

As a single-purpose device, the wallet has no other functions.

Simple means more security.

Trezor is no exception in terms of malware or virus risk. However, the fewer devices the Trezor communicates with, ie. there is no bluetooth, wifi or qr code scanning, so the simpler the communication protocol, the safer your bitcoin security.

Also, the Trezor doesn’t have a battery. When it is disabled, it is disabled and your coins are safe from any cyber attack.

I hope I have emphasized the importance of Bitcoin security. Main problems: zero trust and concrete security. Also, make sure your backup process is just as secure, ie if necessary, make sure your data is accessible to someone you fully trust.

In the times we live in, technology has made incredible progress compared to any time in the past. This evolution has changed human life in almost every aspect. In fact, this evolution is a continuous process and thus human life on earth is constantly improving day by day. One of the latest inclusions in this aspect is cryptocurrencies.

Cryptocurrency is nothing but a digital currency that has been developed to ensure the security and anonymity of online monetary transactions. It uses cryptographic encryption to both create currency and verify transactions. New coins are created through a process called mining, while transactions are recorded in a public ledger called the transaction block chain.

A little way back

The evolution of cryptocurrency is mainly related to the virtual world of the Internet and involves the procedure of converting legible information into a code that is almost impossible to crack. This makes it easier to track purchases and transfers involving currency. Cryptography, since its introduction during World War II to secure communications, has evolved into this digital age, blending with mathematical theories and computer science. Therefore, it is now used to provide not only communication and information, but also money transfers through a virtual network.

How to use cryptocurrency

It is very easy for ordinary people to use this digital currency. Just follow these steps:

• You need a digital wallet (obviously to store currency)
• Use the wallet to create unique public addresses (this allows you to receive currency)
• Use public addresses to transfer funds to or from your wallet

Cryptocurrency wallets

A cryptocurrency wallet is nothing more than software that is capable of storing both private and public keys. In addition to this, it can also interact with different blockchains so that users can send and receive digital currency and keep track of their balance.

How digital wallets work

Unlike the regular wallets we carry in our pockets, digital wallets do not store currency. In fact, the blockchain concept has been so intelligently mixed with cryptocurrency that currencies are never stored in a specific location. They are also nowhere to be found in monetary or physical form. The blockchain only stores records of your transactions and nothing else.

An example from life

Let’s say a friend sends you digital currency, say Bitcoin. What this friend does is it transfers ownership of the coins to your wallet address. Now, when you want to use this money, you unlock the fund.

To unlock the fund, you need to match the private key in the wallet with the public address that the coins are assigned to. Only if these private and public addresses match will your account be credited and your wallet balance will increase. At the same time, the balance of the sender of the digital currency will decrease. In digital currency transactions, the actual exchange of physical coins never takes place anyway.

Understanding Cryptocurrency Address

By its nature, it is a public address with a unique string of characters. It allows the user or holder of a digital wallet to receive cryptocurrency from others. Each public address that is created has a corresponding private address. This automatic matching proves or establishes ownership of a public address. As a more practical analogy, you can think of a public cryptocurrency address as your email address to which others can send emails. Emails are the currency people send you.

It is not difficult to understand the latest version of technology in the form of cryptocurrency. It takes a bit of interest and time on the net to understand the basics.

Last year, several top Forex brokers introduced the concept of social trading on Forex. The idea is simple: the best Forex traders share their trades with the community, and other traders are free to copy their trading strategies. This is a new idea that allows novice Forex traders to learn from Forex experts.

Many of the best social Forex brokers allow you to search for traders to copy based on profit, risk level and the number of other traders who copy the Forex trading expert. This makes it easy to find popular Forex traders to copy, but there are a few things you should consider when copying a Forex trader.

1. Popular doesn’t always mean best. Most brokers allow you to see how many people are copying a Forex expert. However, the number of copiers alone does not necessarily indicate a strong trader. Many times, users flock to a trader after he makes one big profit trade, hoping to score again. A trader may have thousands of followers, but that doesn’t mean the followers are making money.
2. Don’t copy a Forex trader just because of the high profitability. Just like a trader’s popularity, a Forex trader’s results can be misleading if not read properly. One of the most popular Forex brokers has dozens of traders whose statistics reflect 300% profit from Forex trading. That’s a surprising number, but you have to consider the number of trades and the amount of capital you’re risking for those profits. If you don’t have a large trading account, you may not be able to survive the drawdowns that occur on the way to those big Forex profits.
3. Check the risk profile. Most of the leading social Forex brokers offer some measure of trader risk. While many high-risk Forex traders manage to make big profits, the strategies used may not work for all traders. Beginner Forex traders, in particular, should copy lower risk traders so that one trade does not put their entire account at risk.
4. Diversify! Don’t risk your entire Forex trading account copying one trader. Instead, choose a few different traders and split your money between them. This will reduce the overall risk, as only part of your account will be at risk when a trader makes a risky trade. Yes, you may miss out on a great trading opportunity from time to time, but the goal is to make a steady profit in Forex.

If you keep these ideas in mind, you will have a much better chance of successfully copying other Forex traders. Social forex trading programs are a great way to start trading forex while reducing risk while new traders learn the forex market. However, risk still exists and traders should be wise in their decisions when choosing traders to copy.

All over the world, the average life expectancy of people has increased not by days, but by hours. Compared to the 1950s, it has grown by 50%, and compared to the 1980s – by 30%. Long gone are the days when company-sponsored retirement plans alone were enough to enjoy a relaxed and worry-free golden age.

Today, with other expenses such as housing, education, health care and more rising, some people find it increasingly difficult to save for retirement.

Unfortunately, the hard truth is that people of all generations, from baby boomers to millennials, are not saving enough for retirement. The economy is one of the world’s most underrated epic crises.

“Retirement is difficult. It’s never too early or too late to start preparing for retirement.”

Therefore, people try to find alternative opportunities that provide them with higher income in a shorter period. Traditionally, real estate, private and venture capital are in demand. Now a new and more complementary way to make money and make profitable investments has joined the picture – enter cryptocurrencies.

Investing in cryptocurrency is for those who don’t want to put all their eggs in one basket

One of the biggest benefits of investing in cryptocurrency is that it separates your portfolio from reserve currencies. Let’s say if you live in the UK, your retirement portfolio is bound to have shares in UK companies if you’re into equity. What will happen to your portfolio if the British pound crashes? And given today’s volatile political scenario around the world, nothing is certain.

Therefore, investing in cryptocurrency makes the most sense. With a digital currency investment, you are effectively creating a basket of digital coins that acts as an effective hedge or safe bet against weakness in the reserve currency.

The average investor should allocate only a small portion of their retirement assets to crypto due to its volatility. But volatility can short both sides — think back to health care stocks in the 1950s and tech stocks in the 1990s. Smart early investors were the ones who made it big.

Don’t fall behind and don’t lose. Incorporate crypto into your assets to start building a truly diversified portfolio.

Cracking the Wall – Build your confidence in cryptocurrencies

One of the biggest and biggest hurdles most new crypto investors face is that they can’t trust digital currencies. Many people, especially people who are not tech savvy or close to retirement, do not understand what promotion is. Unfortunately, they fail to realize and appreciate the countless possibilities of cryptocurrency.

The reality is that cryptocurrencies are one of the most reliable assets backed by the latest technology. Blockchain technology, which works with digital currencies, allows trading immediately and forever without the need for third-party verification. It is a peer-to-peer system that is completely open and works on advanced cryptography principles.

Retirement planning funds should work to demystify cryptocurrencies

To build trust and gain people’s support, pension funds must educate investors about the endless possibilities of cryptocurrencies. To do this, they need advanced analytics to help provide robust risk analysis, risk/return metrics and forecasts.

In addition, investment companies can create specialized cryptocurrency advisory services to help and guide new investors. In the coming years, you can expect to see several intelligent AI-based advisors appear on the scene – helping to calculate the right investments based on a person’s time horizon, risk tolerance and other factors.

Human advisors can work alongside these smart advisors and provide customers with personalized advice and other suggestions as needed.

The need for greater visibility and comprehensive control

Retirement investors looking to add cryptocurrencies to their asset portfolio need more control and visibility as they experiment with this new asset. Look for platforms that allow you to consolidate all your assets in one place. An integrated solution that allows you to manage and balance all your assets, including traditional ones like bonds and stocks with new asset classes like cryptocurrency wallets.

Having such a broad platform that supports all of your assets gives you a holistic view of your portfolio, helping you make better, more informed decisions. This way, you will reach the ultimate goal of saving for your goals faster.

Look for investment planning portals that also provide additional features such as recurring cryptocurrency deposits at scheduled or unscheduled intervals.

Advances in technology support for cryptocurrency investing

Cryptocurrency investing will only become mainstream when the enabling technology allows investors to trade coins seamlessly, even for new investors with no know-how. It should be possible to exchange one digital coin for another, or even for fiat currencies and other non-tokenized assets. If this becomes possible, it will eliminate middlemen from the equation, thereby reducing costs and additional fees.

As the technology that supports cryptocurrency investment and trading matures, the value of digital currencies will further increase as the currency becomes mainstream with wider availability. This means that early adopters will make huge profits. As more and more retirement investment platforms integrate cryptocurrency, the value of digital currencies will inevitably increase, offering significant benefits to early adopters like you.

If you’re wondering if it will take a few years for these kinds of retirement investment platforms to see the light of day, you’d be wrong. Auctus is one such portal that is currently in an alpha launch stage. It is the first of its kind retirement portfolio platform to include digital currencies. Auctus users can receive investment advice from both humans and AI-powered analytical tools.

At the moment, users can save for retirement using Bitcoin, Ethereum and several other digital currencies. In addition, users can use the automated rebalancing feature, which allows you to automatically adjust your portfolio using a set of preset rules.

This holistic approach ensures that users can reach their retirement goals sooner by making smart and sound investment choices or decisions.

Final Thoughts – You can’t ignore cryptocurrencies in your retirement portfolio

Yes, it is true that cryptocurrencies are very volatile. In fact, there is speculation online that “cryptocurrency is nothing more than a get-rich-quick scheme” and the bubble is likely to burst soon.

The uncertainty doesn’t mean cryptocurrencies shouldn’t be part of your retirement portfolio, even if you have short investment horizons. On the other hand, the current fall in cryptocurrency prices in 2018 means that you have a rare opportunity to profit.

Greater trust, holistic and directly controlled investment management capabilities, and advances in supporting technologies ensure that digital currencies are an excellent investment choice to include in your retirement portfolio.

Cryptocurrency is a digital alternative to using credit cards or cash for everyday payments in a variety of situations. It continues to grow as a viable alternative to traditional payment methods, but still needs to become more stable before ordinary people will fully welcome it. Let’s take a look at some of the many benefits of using cryptocurrency:

Fraud – Any issues with fraud are minimized because cryptocurrency is digital, which can prevent chargebacks or counterfeit payments. This type of operation can be a problem with other traditional payment methods such as credit card due to chargebacks.

Identity Theft – There is no need to provide personal information that could lead to identity theft when using cryptocurrency. When you use a credit card, the store receives a lot of information related to your credit line, even for very small transactions. In addition, credit card payment relies on a withdrawal transaction when a certain amount is requested from the account. When paying in cryptocurrency, the transaction is based on a push payment, which gives the account holder the option to send only the exact amount without additional information.

Versatile use – Payment in cryptocurrency can be easily made according to certain conditions. A digital contract can be created to make a payment to be made in the future, to refer to external facts, or to obtain the approval of third parties. Even with a special contract, this type of payment is still very fast and efficient.

Ease of Access – Cryptocurrency usage is widely available to anyone with access to the Internet. It is becoming very popular in some parts of the world, such as Kenya, where almost 1/3 of the population uses a digital wallet through a local microfinance service.

Low Fees – One can complete a cryptocurrency transaction without having to pay any additional fees or charges. However, if a digital wallet or third-party service is used to store cryptocurrency, a small fee will likely apply.

International Trade – This type of payment is not subject to country-specific fees, transaction fees, interest rates or exchange rates, making cross-border transfers possible with relative ease.

Adaptability – With nearly 1,200 unique types of cryptocurrencies on the global market, there are many opportunities to use a payment method that fits specific needs. ​​​​​​While there are many uses for coins for everyday use, there are also those that are designed for a specific use or in a specific industry.

A cryptocurrency that continues to captivate the world, the first of its kind, Bitcoin was once a completely cool realm of tech geniuses who sought to uphold a philosophy of maximum autonomy, but Bitcoin’s shot at fame is due to the promise of a vast consumer base. However, for uninformed consumers, the question remains. So what is Bitcoin? Some really haven’t figured out this wildly volatile cryptocurrency yet. Bitcoin, which is created and stored electronically, is actually a form of digital currency. In fact, no one can control the network, the currency is decentralized. It appeared in 2009 as the brainchild of an individual with the fictitious name of Satoshi Nakamoto. Using P2P technology to function, Bitcoin has a distinctive and flexible function to reach everyone who is interested. Its worldwide recognition is a feature that adds to its popularity.

Accountable to no one, Bitcoins are quite unique. Bitcoins are sovereign by their own specific rules and are not printed underground by any bank, but are mined digitally by large numbers of people participating in a colossal network or community. Miners usually use a huge amount of processing power and there is a lot of competition when mining Bitcoins. Computers solve complex mathematical problems. A rival miner also has the prospect of earning bitcoins in the process simply by solving the problem. However, the level of complexity of these problems is becoming more intense every day. Transactions on the Bitcoin network are non-stop and continuous, and the tracking of these transactions is quite systematic. The Bitcoin network maintains methodicality, as all transactions are collected into a block over a period of time. Miners have to confirm transactions, and everything is listed in a ledger, which is simply a set of blocks called a blockchain. The blockchain actually holds the key to the details of any transaction made through different Bitcoin addresses.

Integrating Bitcoin into people’s lives is the most desired thing right now. This is quite easily achieved with the advent of exchanges. Bitcoin enthusiasts can have a lot of choices when it comes to purchasing this digital currency. A bitcoin exchange allows consumers to buy or sell bitcoins using fiat currencies. There are many exchanges, but originally Mt. Gox was the most famous and widely used before its collapse. On exchanges, consumers can buy or sell bitcoins using wire transfers, cash or credit/debit card payment. Exchanges offer a secure real-time trading platform. Enthusiasm and unrelenting madness always accompany Bitcoin. With so many enthusiasts wanting to trade Bitcoin, the fledgling currency and all the craze surrounding it seems to be growing by the day. All the knowledge associated with it seems to be as important as the currency itself. The importance of the “Bitcoin wiki”, an autonomous project, cannot be denied at all. It will serve as a repository of knowledge for Bitcoin enthusiasts around the world.

A Guide to Understanding Bitcoin and Cryptocurrency?

Although Bitcoin is one of the most searched terms (according to Google), it is a very technical topic for many people and can become too technical for non-humans. However, there are now hundreds of cryptocurrencies and more and more people are starting to want to know how they work, perhaps because of the mistrust of bankers, which is a whole other discussion.

It’s hard to get a layman’s explanation without using technical terms like “secret keys”, “digital keys”, “digital wallet” and “cryptocurrency”, so I’ll do my best to make things as simple as possible. it is possible.

The concept of maternity money, ie. paper currency, was formulated to make it easier for people to exchange goods or services instead of bartering, since at best it would be limited to an exchange between two willing parties, while money allows you to provide your service or goods and then purchase any services or goods, that you need from another or others.

Therefore, I would argue that Bitcoin is the 21st century equivalent of barter as it works as an exchange of goods or services directly between two willing parties. Barter had to be based on every promise and trust to secure and deliver the promised goods or services.

Today, with Bitcoin or any other cryptocurrency, each party will need a unique file or unique key to exchange an agreed value between them.

Having a unique key or file makes it easier to keep track of each transaction. However, it also comes with challenges.

Barter is a simple exchange of skills or goods, as I said, the modern equivalent, or Bitcoin is susceptible to security breaches, ie. your transactions.

Basically you need a secure location to buy and hold your cryptocurrency/bitcoins. Hence the need for a hardware wallet.

So now that you’ve recorded/recorded which address holds how many bitcoins, and then updated every time a transaction takes place, that file is called a “block chain” – and it stores records of all bitcoin transactions.

The next task is to make sure that our files remain unique.

I will deal with this in my next article.

Monero is an open source cryptocurrency project with better security and privacy than most virtual currencies. It is designed to give everyone the ability to control their finances without the control of the government or financial agencies. Adopted cryptographic methods ensure that a spy does not know about your transactions.

Who created Monero?

Monero is very much a community project, with no one person behind it. More than 240 professionals, consisting of developers and marketers, gathered and breathed life into it. However, about 30 developers are known. Anyone can contribute to this network by donating their skills or capital.

Monero has no base in any country. Therefore, it may be difficult to shut it down or restrict its operation in a particular country. However, you shouldn’t be too sure, as China and South Korea have already proven that any cryptocurrency can be taken out of business in certain jurisdictions. A couple of months ago, China officially banned ICOs.

Monero security features

Without a doubt, the Monero Blockchain is one of the safest places to transact. The Ethereum and Bitcoin blockchains are transparent, so anyone can verify the authenticity of a transaction. This means that anyone with excellent computing skills and resources can easily decipher the real identity of users. This is very disgusting, because it goes against the main principle of decentralized projects – confusing the details of the user.

Monero’s cryptographic techniques mystify user data, making it impossible for data sniffers to extract anything. The two main security protocols used are ring signatures and hidden addresses. The first mixes up all the addresses on the network, making it difficult for outside observers to link a single address to a specific account.

The latter refers to the condition where the address is used for only one transaction. There cannot be a single address for two or more transfers. Used addresses are untraceable and new ones are created during the next transaction. In short, all the details related to the sender, the recipient and the amount of the transfer are beyond control. However, this network is not completely “closed” as people can choose who can see their transactions.

Pros of Monero

• Private, secure and untraceable

• Scalable without blockchain limitations

• A strong and efficient team

• Widely accepted

• Has a plan to incentivize miners to support the blockchain even if the supply runs out

• Selective transparency – you choose who can see your transactions

Cons of Monero

• Has small levels of centralization

• Not yet widely distributed

The future of Monero

Decentralized technologies are creating a lot of hype these days, and that just means widespread acceptance. As this technology becomes more widespread and governments try to clamp down on users, investors will demand more private-oriented cryptos, and this may just put Monero in the top spot. This currency is definitely worth a try.

One of the basic rules of blockchain technology is to provide users with unshakable privacy. As the first ever decentralized cryptocurrency, Bitcoin relied on this premise to market itself to a broad audience that then needed a virtual currency free from government interference.

Unfortunately, Bitcoin has proven to be fraught with several flaws along the way, including a lack of scalability and a volatile blockchain. All transactions and addresses are recorded on the blockchain, making it easy for anyone to connect the dots and reveal users’ private information based on their existing records. Some government and non-government agencies are already using blockchain analytics to read data on the Bitcoin platform.

Such shortcomings have led developers to seek alternative blockchain technologies with improved security and speed. One such project is Monero, which is commonly represented by the ticker XMR.

What is Monero?

Monero is a privacy-focused cryptocurrency project whose main goal is to provide better privacy than other blockchain ecosystems. This technology protects users’ information using Ring’s hidden addresses and signatures.

A hidden address refers to creating a single address for a single transaction. No two addresses can be attached to the same transaction. The resulting coins go to a completely different address, making the whole process incomprehensible to an outside observer.

Ring signature, on the other hand, refers to mixing account keys with public keys, thus creating a “ring” of multiple signers. This means that the monitoring agent cannot associate the signature with a specific account. Unlike cryptography (a mathematical method of protecting crypto projects), the ring signature is not new to the world. Its principles were researched and documented in a 2001 paper by the Weizmann Institute and MIT.

Certainly, cryptography has won the hearts of many blockchain developers and fans, but the truth is that it is a nascent tool with little use. Since Monero uses the already tested Ring signature technology, it has distinguished itself as a legitimate project to adopt.

What you need to know before you start trading Monero

The Monero market

The Monero market is similar to that of other cryptocurrencies. If you want to buy it, Kraken, Poloniex, and Bitfinex are a few exchanges worth checking out. Poloniex was the first to adopt it, followed by Bitfinex and finally Kraken.

This virtual currency mostly appears to be pegged to the dollar or other cryptocurrencies. Some of the available combinations include XMR/USD, XMR/BTC, XMR/EUR, XMR/XBT and many more. The trading volume and liquidity of this currency have very good indicators.

One of the good things about XMR is that anyone can participate in its mining either as an individual or by joining a mining pool. Any computer with reasonably good processing power can mine Monero blocks with little glitches. Don’t worry about choosing ASICS (Specific Integrated Circuits) which are currently mandatory for Bitcoin mining.

Price volatility

Although the cryptocurrency network is powerful, it is not that special when it comes to volatility. Virtually all altcoins are extremely volatile. This shouldn’t worry any avid trader as this is what makes them profitable in the first place – you buy when prices fall and sell when they rise.

In January 2015, the price of XMR was $0.25, and in May 2017, it rose slightly to $60, and now it has crossed the $300 mark. Monero coin recorded its ATH (all-time high) at $475 on January 7 before starting to fall along with other cryptocurrencies to $300. At the time of writing, virtually all decentralized currencies are in a price correction phase, with Bitcoin hovering around $10-11k from its magnificent ATH of $19,000.

Substitutability and acceptance

Due to its ability to provide strong privacy, XMR has been adopted by many people making its coins easily replace other currencies. Simply put, Monero can easily be exchanged for something else.

All bitcoins on the bitcoin blockchain are recorded, and so when an incident such as a theft occurs, every coin involved will be suspended, making them non-fungible. With monero, you cannot tell one coin from another. Therefore, no seller can refuse any of them because it was due to a bad incident.

The Monero blockchain is currently one of the most popular cryptocurrencies with a significant number of subscribers. As with most other blockchain projects, its future looks bright despite looming government crackdowns. As an investor, you should do your due diligence and research before trading any cryptocurrency. If possible, seek help from financial experts to get you on the right track.