Monero (XMR) Trading Up 2% This Week

Monero (XMR) traded up 0.1% against the dollar during the 24 hour period ending at 16:00 PM E.T. on August 12th. Monero has a market cap of $2.75 billion and $53.61 million worth of Monero was traded on exchanges in the last day. During the last seven days, Monero has traded up 2% against the dollar. One Monero coin can now be bought for about $149.31 or 0.00252443 BTC on exchanges.

Here’s how similar cryptocurrencies have performed during the last day:

• Bitcoin (BTC) traded down 0.8% against the dollar and now trades at $59,147.08 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 3.4% higher against the dollar and now trades at $0.11 or 0.00000178 BTC.
• Bitcoin Cash (BCH) traded 1.9% higher against the dollar and now trades at $340.39 or 0.00575501 BTC.
• UNUS SED LEO (LEO) traded down 4.6% against the dollar and now trades at $5.81 or 0.00009824 BTC.
• Litecoin (LTC) traded 2.7% higher against the dollar and now trades at $61.20 or 0.00103469 BTC.
• Ethereum Classic (ETC) traded up 1.7% against the dollar and now trades at $18.89 or 0.00031933 BTC.
• Arweave (AR) traded 3.5% higher against the dollar and now trades at $20.86 or 0.00035262 BTC.
• Bitcoin SV (BSV) traded up 3.9% against the dollar and now trades at $41.63 or 0.00070389 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Zcash (ZEC) traded up 4.8% against the dollar and now trades at $42.12 or 0.00071210 BTC.

Monero Profile

Monero is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. It launched on April 18th, 2014. Monero’s total supply is 18,446,744 coins. Monero’s official Twitter account is @monero and its Facebook page is accessible here. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed here. The official website for Monero is www.getmonero.org. The official message board for Monero is forum.getmonero.org.

According to CryptoCompare, “Monero (XMR) is a decentralized cryptocurrency created in April 2014 by a group of developers led by the pseudonymous developer “thankful_for_today”. It utilizes a combination of ring signatures, ring confidential transactions and stealth addresses to protect sender and receiver privacy, and employs a proof-of-work consensus algorithm to ensure the security of the network. XMR is used as a medium of exchange between individuals and organizations, allowing for fast and secure money transfers over the internet, and can be exchanged for other cryptocurrencies and fiat currencies. It is listed on a variety of cryptocurrency exchanges and is accepted by many merchants and services.”

Buying and Selling Monero

It is usually not possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to acquire Monero should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the exchanges listed above.

XMR/USD price chart by TradingView