Monero is a leading cryptocurrency in the digital market. It is also a payment system that operates via CryptoNote protocol (based on blockchain technology). Monero differs from other cryptocurrencies in certain ways.
This article would help to understand the Monero concept, Monero price predictions, and more. Let’s analyze them in detail.
What Is Monero?
Monero, meaning ‘coin’ in Esperanto, released in 2014 as a fork of Bytecoin. It is the first private decentralized cryptocurrency with the aim of censorship-resistant transactions. Furthermore, the Monero protocol obfuscates in three parts of any cryptocurrency transaction. It includes the sender, the receiver, and the amount sent. In Monero, transactions are unlinkable, confidential, and untraceable. Moreover, Monero uses different privacy-enhancing ways to achieve fungibility and anonymity.
Who Created Monero?
Initially, seven developers were involved in creating Monero. However, five of them remained to stay anonymous. The other two developers are known: David Latapie and Riccardo Spagni. Further, historical research and textual analysis suggest that Satoshi Nakamoto invented Monero.
Monero (XMR) Historical Price Analysis
Below is the analysis for Monero Historical Price
For the year 2015 the Monero XMR price started with a price of around $0.350. It continuously increased through the summer to a YTD high of $0.49 and then traced back to $0.366 in the next 2 months. Finally, it ended the year 2015 on a positive note at $0.49.
For the year 2016, the Monero XMR price started with $0.524 and substantially increased till March and then dropped till June. Then, it spiked from July till September and ended on a positive note at $13.8.
For the year 2017, the Monero XMR price started at $13.020 and has shown a spike in price till the month of August. Then shows a decrease in Sept and Oct and increased in the last two months and ended at $331.8.
For the year 2018, the Monero XMR price started at $274.69 and shows fluctuations in price till October. In the last two years, it shows a tremendous decrease and ended at $46.37 in December.
For the year 2019, the Monero XMR price started low at $43.50 and later shows minor increases & fluctuations till June. Later, it started to show a decrease in price and ended at $44.55 in Dec.
For the year 2020, the Monero XMR price started at $72.08 and later shows a decrease and fluctuations till August. From the last four months, it shows an increase in price and ended at $156.41 in Dec.
XMR Market Cap
The current CoinMarketCap ranking is #19, with a market cap of $2,442,693,949 USD.
XMR Circulating Supply And Total Supply
It has a circulating supply of 17,827,279 XMR coins and the total supply of XMR is the same as the circulating supply with 17,827,279 XMR. All XMR coins are already in circulation with no lockups.
Monero Price Today – Current Price
The current price of Monero (XMR) is $137.677.
Monero (XMR) Future Price Forecast Prediction
In 2021, Monero future predictions put the highest price per XMR coin at $152 and $92 at the lowest possible price. For the future years, it is expected that Monero would continue to grow to the highest possibility at $220 by 2023.
Monero (XMR) Short Term Prediction
The short term Monero prediction (XMR price prediction) after 1 day, the predicted price is $140. After 1 week, the predicted price is $150. In 1 Month price prediction is $175. After 6 months, the price prediction is $200+.
Monero (XMR) Long Term Prediction
Since XMR is the strongest private cryptocurrency coin around, the long term price forecast is really high around $4,500 in 2023 and around $5,000 in 2025
Monero Price Prediction 2021
Below is the Monero price prediction for the year 2021:
For the month of January, the XMR price forecast in USD is expected to be 157, for February, it is expected to be 139. For March, it is 129. In April, it is expected to be 150. For May, it is expected to be 153, In June, it is predicted to be 177. In July, it is forecasted to be 188. For August, it is forecast to be 215. In September, it is expected to be 249. For October, it is predicted to be 245. For November, it is forecast to be 256. In December, it is predicted to be 297.
Monero Price Prediction 2023
Below is the Monero price prediction for the year 2023
For the month of January, the XMR price forecast in USD is expected to be 400. In February, it is expected to be 350. For March, it is 280. In April, it is expected to be 225. For May, it is expected to be 190, In June, it is predicted to be 160. For July, it is forecasted to be 135. In August, it is forecast to be 125. For September, it is expected to be 105. For October, it is predicted to be 88. In November, it is forecast to be 102. For December, it is predicted to be 86.
Monero Price Prediction 2025
By the year 2025, if XMR survives, it means that users around the globe have become aware and attracted to XMR. It would lead to the token worth at least 10-100x than its previous all-time high monero price prediction data. It means that XMR would cost $4500+ per coin.
Monero Price Prediction 2030
Similarly, by the year 2030, if XMR survives, it means that users around the globe have become aware and attracted towards XMR. It would lead to the token worth at least 100x than its previous all-time high monero price prediction data. It means that XMR would cost $5000+ per coin.
Is Monero A Good Investment?
Monero is a decentralized private and digital currency. In other electronic mediums, you usually get two properties: decentralized and digital, whereas Monero offers a solution to trade digital cash without getting tracked by one, including the person who receives XMR and the person who sends. In short, Monero is a private, untraceable, and unlinkable, and fungible digital currency. Due to these advanced features of Monero, the user gets to enjoy the following, and that’s why Monero is a good investment. And, you should invest in Monero right now to make your money more secure and increase its value without doing any effort.
Is Monero Safe To Buy?
Other digital currencies are being traded on public blockchain due to which anyone could see your transactions whereas Monero can be traded on its own private blockchain. Only you can see your finances or your auditor if you wish to provide access to your account. This also makes Monero the most private cryptocurrency in the digital market.
To make every transaction secure they give a mnemonic seed for an individual account that has been created when you register on Monero software. This code consists of 25 words, which can be used to back up the account. However, this made sure that your money is secure even if someone tried to access your account. Also, Monero provides you a ring signature, which makes it impossible to track.
It is recommended to analyze the maximum amount of information in any cryptocurrency and its ecosystem before investing. Unlike bitcoin, where the public address records all the transactions, Monero hides the public address of the sender and the receiver in place of stealth addresses.
There is an added functionality of a secret view key, which helps to see the transfer of funds. Hence it can be shared with trusted sources to see or analyze the transactions.
How To Buy Monero? Step By Step Guide
Here’s the step-by-step guide on how to buy Monero:
Step 1: Open An Online Account
First, you need to register on an online broker or a crypto exchange to start buying or selling cryptocurrencies. These exchanges will manage to buy, sell, and store digital assets from a secured location.
Below are the top crypto exchanges on the digital market:
- Kraken: It is one of the most leading and trusted cryptocurrency exchanges in the digital market. This platform offers financial stability by maintaining full reserves, legal compliance, and strong banking relationships. Further, Kraken supports an excellent customer service team that is available 24/7 to resolve the query. It also supports a live chat feature.
- Coinbase: It is among the leading cryptocurrency exchanges. The user can easily manage trade and portfolio on Coinbase. This platform supports hundreds of cryptocurrencies to trade. It includes Bitcoin, Dash, Ethereum, and Monero. Coinbase also provides a digital wallet. It supports several cryptocurrencies. The user’s public and private keys are protected with Secure Enclave and biometric authentication.
Step 2: Buy A Wallet
The user needs a digital wallet or an e-wallet to start trading Monero. With the help of Digital Wallet, the user will be able to store digital assets in a protected, safe, and private location. Before trading, the user should consider cryptocurrencies supported by the wallet and their transaction fees.
There are many available options to choose from in digital wallets. Around the globe, crypto traders consider software, hardware, mobile, web & paper.
Step 3: Purchase Monero Cryptocurrency
Once the account is set up with the exchange, the user can explore all available thousands of listed cryptocurrencies available for trade. If the user wants to buy Monero, it is available in the list. Also, the user could enter Monero in the search bar to find it.
The user can decide to buy the number of tokens if the price of Monero suits the user’s financial goals. When the user is ready to make the trade, they can set the volume of tokens and click the buy button.
Best Crypto Exchanges To Buy Monero
Users can buy Monero on an extensive range of cryptocurrency exchanges. Here’s the table of the best crypto exchanges that defines all the related and important concepts:
|Exchange Name||Details||Payment Methods||Supported Pairs||Available Coins||Cryptocurrencies|
|Founded in 2017, KuCoin is the most advanced & secure cryptocurrency exchange platform.||ACH Bank Transfer||USD,RUB,EUR, GBP,CNY,AUD,KRW,JPY etc||Ethereum, Bitcoin, NEO, Dash, Trinity,
Telecoin, Monero, and more.
|Kraken Cryptocurrency Exchange||Founded in 2011, Kraken is the US-based cryptocurrency exchange platform.||Wire Transfer, Cryptocurrency||USD, JPY, EUR, GBP, CAD, CHF, AUD||Bitcoin,
Zcash, Monero, Litecoin, Ripple, Stellar, Augur, and more.
|CoinSwitch Cryptocurrency Exchange||CoinSwitch is a cryptocurrency trading platform with best features.||ACH Bank Transfer||USD,JPY,RUB, EUR||Bitcoin, Ripple, EOS, Verge, Litecoin, and more.||387
|Changelly Crypto-to-Crypto Exchange||If you are buying currencies for the first time, Changelly is the easiest way to start with.||Credit card, Debit card||USD, EUR, CAD, AUD, CHF, JPY etc||Zcash, Monero, Dash, Ethereum, Ethereum classic, Litecoin, Ripple, and more.||146
|Huobi Cryptocurrency Exchange||It is a global digital crypto exchange service since 2013||Cryptocurrency||GBP, USD, AUD, EUR, INR, BRL, KHR, CAD, CNY, NZD||Bitcoin, Zcash, EOS, Bitcoin Cash, Ethereum Classic, OmiseGo, and more.||290 cryptocurrencies|
|ShapeShift Cryptocurrency Exchange||Founded in 2014, ShapeShift offers excellent crypto exchange services.||Cryptocurrency||—||Bitcoin, Ethereum, Dogecoin, Maker, Dash, Augur, and more.||51 cryptocurrencies|
|Bitit Cryptocurrency Exchange||Bitit offers easiest, secure, and instant cryptocurrency exchange services.||Credit card, Wire transfer, Debit Card||EUR, USD, JPY, DKK, GBP, SEK, TRY, NOK||Bitcoin, Zcash, Monero, Ethereum, Dogecoin, OmiseGo, Bitcoin Cash, and more.||50
How High Will Monero Go?
Monero is a leading cryptocurrency with widespread usage and a strong base. Therefore, it seems to be obvious that there would be demand for it in the digital market. And, the monero price would go up in the future. Furthermore, in 2021, Trading Beasts’ forecast has placed Monero price prediction at $92 as the lowest possible price per XMR price prediction, and the highest possible price is $152. For future years, there is a possibility that Monero crypto price prediction will continue to grow as high as $220 by 2023.
Will Monero Go Up Tomorrow?
According to today’s algorithm, it suggests that the Monero price prediction (XMR price prediction) will go up tomorrow.
Will Monero Reach $100?
In 2021, it is forecasted that there will be a spike to $160-180, with a pullback to $100-120. However, for the next future years, XMR price prediction will slowly rise. It might reach $400 by the year 2025.
Is Monero Better Than Bitcoin?
Bitcoin is still considered as the ‘King of Crypto world’ as it is originally a decentralized cryptocurrency and its market capitalization beats the other crypto assets. Bitcoin has attracted more exposure and largely accepted across an array of platforms. However, Bitcoin’s exposure level has reached the horizon of risks of anonymity and law enforcement. On the other hand, Monero is formidable because it offers strong privacy and safety features.
Monero works better than Bitcoin when it comes to privacy, mining algorithm, transaction fees, and fungibility. In contrast, Bitcoin is more efficient than Monero when it comes to scalability, network effect, supply & price, and transaction fees.
Therefore, choosing one over the other between Monero and Bitcoin is a crucial task. Both of them offer their unique services and one could choose the best among them according to their demand.
Takeaways – Monero XMR Price Prediction
Monero (XMR) has held a superior position among the top cryptos in the digital market. It has proven itself as stable, secure, and confidential over the other cryptocurrencies. Furthermore, when it comes to technology and advancement, Monero has the upper hand. With the latest updates in Monero, the future speculations show a major role of Monero in the digital cryptocurrency world.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates