Altcoins News
By Sydney TheCMO
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Monero’s speed and low transaction fees boost its appeal
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Is Monero a good growth opportunity?
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Recent events in the cryptocurrency market have highlighted some of the dangers of transacting on public blockchains.
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Blockchain auditing companies can easily track the transaction history of every Bitcoin and this is why any account linked to the dark web is flagged and shut down on Coinbase.
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Although the privacy asset appeals to criminals, it is also useful to regular users looking for more freedom and control over their money.
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Privacy blokchains tend to be heavy and slow because their transactions are generally larger than regular transactions.
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The changes to Monero’s protocol in 2018 had profound effects in terms of reducing transaction size, thus making the network faster.
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Monero’s average transaction cost is $0.04 while Bitcoin’s average transaction cost is $14.8 and $16 for the Ethereum network.
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The fact that Monero is currently receiving a lot of attention is a good thing because it means more transactions and thus more value.
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Monero’s current price has been experiencing resistance based on Fibonacci retracement levels.
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Another major reason for Monero’s growth potential is that it is scarce. There are only 17,933,473 XMR coins in circulation, which makes it scarcer than Bitcoin.
The Currency Analytics
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