The Monero privacy token gained renewed attention and popularity following Russia’s invasion of Ukraine and has continued to attract interest since. One of the main reasons for its growing appeal is its perceived resilience against hacking and enhanced privacy features.
On an otherwise gloomy day in the crypto markets, Monero stood out as one of the few gainers, rising about 11% in the last 24 hours.
If the unique privacy features of Monero intrigue you and you want to learn how and where to buy it, this guide will help you get started.
Best places to buy Monero right now
What is Monero?
Monero aims to maximize decentralization so users do not need to rely on any single trusted party within the network.
Its native token, XMR, is fully fungible, meaning transaction details, senders and recipients are private by default. Supporters argue Monero has an edge over other privacy-focused coins like Zcash, which offer “selective transparency.”
Monero hides transaction details using ring signatures. Previous transaction outputs on the blockchain are selected and used as decoys, making it infeasible for outside observers to determine which participant produced the signature.
To prevent transactions from being linked to one another, Monero generates a unique one-time stealth address for each transaction, further protecting user privacy.
Should I buy Monero today?
Cryptocurrency price movements are notoriously difficult to predict. You should never make financial decisions without thorough market research and consideration of your own risk tolerance. Only invest what you can afford to lose.
Monero price outlook
Monero is currently trading at just under $245. Some forecasting services have optimistic long-term projections: for example, Price Prediction forecasts XMR could reach $1,317 by 2026, which would represent substantial gains.
Smartereum projects Monero’s price could triple by 2026, while Long Forecast offers a more conservative outlook, estimating a price near $288 in two years.
Monero on social media
One line is #BTC , the other is #Monero #XMR. #Divergence pic.twitter.com/i1E4R28gT6
— Vik Sharɱa 🇺🇸 (@vikrantnyc) April 12, 2022