This is a forward-looking Monero coin price prediction for your information purposes only.
All privacy coins are equal, but some are more equal than others. One such is the Monero coin.
What is Monero (XMR) Coin?
Monero is a privacy coin launched on April 18, 2014, and claims to be one of the most private, secure, and untraceable cryptocurrencies in the crypto market.
With Monero, you ultimately control your privacy and crypto wealth.
Moreover, all Monero transactions and wallet balances are private, and no one else can see any other person’s account balances or transaction history.
Thus, what you own and how you spend it is known only to you.
Monero is based on the CryptoNote technology, and the privacy coin is primarily focused on privacy and security, with ease of use and efficiency taking the back seat.
All Monero cryptocurrency transactions and amounts involved are private by default.
Unique Features of Monero Coin
What makes Monero different from other cryptocurrencies like Bitcoin?
The most important unique features of the Monero cryptocurrency are:
- Security Focused
- Private by Default
- Untraceable transactions
- Fungible and Censor-proof
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Monero Coin is Secure by Default
Being a fully decentralized cryptocurrency and peer-to-peer digital cash, Monero is operated and secured by a community of miners.
Monero cryptocurrency transactions are confirmed by a network of independent miners who help confirm and verify transactions, which are then permanently recorded on the blockchain. No third party is needed to be trusted to keep your Monero safe.
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Monero is Private by Default
Using three different privacy technologies:
- Ring signatures,
- Ring confidential transactions (RingCT), and
- Stealth addresses
From prying eyes, Monero hides all information in a transaction, such as the sender, the amount transacted, and the receiver.
This feature is exclusive to the Monero coin.
No other privacy coin has this privacy feature enabled by default.
You maintain 100% control over your privacy, and you never need to trust anyone else (third party) when you transact with Monero.
Monero gives you the best of both worlds: centralization and complete privacy.
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Monero is Completely Untraceable
All addresses and amounts involved in a Monero transaction are completely obfuscated by default.
Thus, transactions cannot be linked to any particular individual or entity and are therefore impossible to trace.
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Monero is Fungible and Censor-proof
In some other cryptocurrencies, stolen funds can be blocked and denied services by exchanges or rejected by vendors.
Monero cannot be blocked due to any association with a previous transaction because Monero is private by default.
It is impossible to identify or associate a Monero transaction with an individual to censor them.
What is Monero Coin used for?
Monero has the exact use case as Bitcoin — peer-to-peer electronic cash — but with a touch of privacy and complete anonymity.
You can pay for goods and services using Monero coins, like buying your Starbucks coffee with fiat.
SoMonero is just another digital cash with a vast privacy focus.
Though most people speculate about it, the primary purpose and use case of Monero is to be a cash alternative, just like Bitcoin, but more private.
Monero Coin Fast Facts
All-Time High: USD 495.84 (Jan 07, 2018)
All-Time Low: USD 0.212967 (Jan 14, 2015)
Monero Coin Price Prediction for 2020 to 2025
Monero Coin Price Prediction for 2020 ($200)
When writing this article — Jul 29, 2020, 8:00 pm EST, the Monero coin is exchanging hands at $81.33.
Haven gained 100% since late May in the latest initial bull run.
Monero is set to attempt to recover its lost glory days and all-time-high (ATH) price of over $490.
All things being equal, and if the ongoing bull run should be even distantly similar to what we witnessed in 2017, Monero will most likely touch $200 per coin.
That’s a modest 147% return on investment (ROI) if you buy the coin at the current price.
Monero Coin Price Prediction for 2025 ($2,000)
The long-term view for Monero is even more encouraging.
With governments, institutions, and even some crypto exchanges censoring users associated with certain crypto transactions, the demand for privacy coins will only increase. Monero is a significant name in this category.
Monero has a circulating supply that’s shy of 18 million coins.
Such low supply and increased demand will significantly and immediately impact the price.
Thus, $2000 per coin in the next five years is not far from being realistic.
For Monero to trade at this price, it has to appreciate by over 4,000%; in my opinion, it is still a conservative target given the level of development and the maturing cryptocurrency market.
Click or tap to read Dash Cryptocurrency Review and Price Prediction 2020-2015
Conclusion
Privacy coins are the future of peer-to-peer electronic cash.
Which privacy coin will lead the pack is yet to be entirely determined, but Monero has a good chance of making a success.
Where do you see Monero and privacy coins generally in the next 2 to 5 years? Please share your opinion with us in the comments section below.