This article presents the basics of the XMR cryptocurrency and provides a fundamental analysis of the Monero privacy coin. Here is also an honest price prediction for the following years.
What Is the Future of the Most Popular Privacy Coin?
As the original cryptocurrency, bitcoin remains the major driver of the overall crypto market. At the beginning of Q4 2021, it is setting up the pace for another leg up towards new heights. That said, the king of cryptos is far from flawless. Its network is slow, so most investors use it as a store of value, first and foremost.
Many people mistakenly assume the Bitcoin network as anonymous. In fact, Bitcoin transactions can be easily traced back to their owners with just a little effort. But privacy coins, such as Monero, are the only way to completely hide your transaction details on the blockchain.
So, should you buy Monero (XMR)? Does this cryptocurrency have the potential to grow in value? We will try to answer both these questions in this article. We will analyze the basics of the XMR coin and provide a plausible price prediction. Furthermore, we will show you how to exchange Monero quickly and privately. Let’s get started.
What Exactly Is Monero?
Monero is a privacy-focused cryptocurrency that uses ring signatures to hide the user’s transaction details. In a nutshell, transaction signatures from multiple users are mixed so that the external observer cannot discern the transaction origin or destination.
The XMR crypto is a first-generation cryptocurrency. It has one major use case — transferring value over its network. There are no fancy smart contracts here, just simple peer-to-peer money transactions.
However, the strength of the Monero network resides in its privacy protocols. It is regarded as one of the safest and most private ways to transfer crypto. This has drawn some criticism from regulatory bodies because some believe XMR is mainly used for illicit activities and money laundering. This resulted in stark repercussions on the coin’s popularity. The reason is that many cryptocurrency exchanges have delisted it from their offering following regulative measures on privacy coins.
XMR Historical Price Action
The XMR crypto was released back in 2014, almost a decade ago. Before the 2017 bull run, the XMR cryptocurrency price fluctuated between $0.5 and $1, making it a cheap way to transfer money privately via the Internet.
However, with the 2017-2018 bullish cycle, the XMR value skyrocketed and reached an incredible price of $469 at its highest point. From the beginning to the end of 2017, XMR gained over 4,500% in value.
That being said, the bear market was not very kind to the XMR crypto. During 2018, the price experienced a sharp decrease and fell to $50 in December 2018, a 90% decline from the top. During the next two years, the XMR coin struggled between $50 and $100, with fluctuations that closely correlated with bitcoin.
This bearish trend was finally reversed in 2020, and the XMR price reached a peak of $475 in May 2021. Then Monero followed the market retracement and fell back 50% from this level.
Monero XMR Price Prediction 2022-2025
The crypto market is ready to break out towards new heights, with bitcoin leading the way. Given that the price of Monero closely follows the #1 crypto, we can conclude the following:
- Monero could reach $500 by the end of 2021 and go higher, depending on the Bitcoin momentum.
- We can expect a bear market in 2022, where the XMR token could drop at $400 and remain there for some time.
- In 2024, we can expect another bull market with the next Bitcoin halving. This could push XMR prices towards a new all-time high, probably around $1,000 by the end of 2025.
How to Exchange XMR Anonymously?
The main advantage of buying XMR is the absolute privacy this coin provides. However, if you do this on an exchange, you will need to provide your credentials. This invalidates the aforementioned benefit as your ID can be linked to your Monero holdings. So how do you go around this issue?
One word — Godex. This anonymous exchange will allow you to buy XMR with over 300 different cryptocurrencies. They don’t require any ID verification or account creation when you use the platform, allowing you to remain anonymous.
The process is extremely simple. You just need to provide your XMR wallet address and sign the transaction to receive your coins within minutes.
Conclusion
Privacy coins help blockchain users to keep their anonymity at all times, and Monero is one of the best solutions out there. In combination with the Godex exchange, you will be able to purchase XMR without providing as much as an email address.
