Monero (1 XMR=$ 98.37) has created a space for itself. Created in April 2014, it is today the 10th largest cryptocurrency with a market capitalization of $1.5 billion.
Monero was very popular with investors and miners last year because of its powerful performance. It rose from $10 in January 2017 to $494 in January 2018, giving its investors about 4800% return. Isn’t that captivating?
What is a Monero?
Monero was developed based on the open source code and owes its core features to many users who have made significant contributions to the creation, testing and development of this cryptocurrency.
The use of blockchain is a very stable and familiar feature of many cryptocurrencies. Simply put, this technology allows you to store records of all transactions made using cryptocurrency and gives them general access at any time.
The main feature of Monero, which determined both the majority advantages and some disadvantages of this cryptocurrency, is that it was originally created without any transparency. The real identities of the sender and recipient, as well as the size of the transaction are securely hidden from third parties.
How do you earn Monero?
The most popular way to earn cryptocurrencies is, of course, mining - which is the process of supplying your computer's computer power to the process of recording transactions on blockchain.
1. Mining
What is Monero Mining?
At the time of writing, a total of 15,829,795 XMRs are in circulation. This number will continue to increase as long as 18.4 million monero coins are in circulation.
Fortunately, you do not need to buy an ASIC for the Monero mine. Alternatively, you can perform Monero mining using your computer's CPU / GPU. This makes Monero a great choice for beginners and other individuals who do not want to invest a lot of money to start mining.
Mining Verification The current reward for a single block of transactions is 4.99 XMR, and the transaction fee is 0.06573 XMR.
So, what happens after mining all 18.4 million monero coins?
After reaching 18.4 million XMR coins, new coins will be released to the system at a flat rate of 0.3 XMR / min. These new coins will be used to reward miners and encourage mining.
Monero mining
As I mentioned earlier, you do not need to buy specialized hardware for XMR mining. Anyone with a computer can mine Monero. That being said, the more powerful the hardware, the better.
There are many ways to mine a monero, but before we get into that, you need to know what a monero mining pool is.
Monero Mining Pool
Before you start mining, you need to decide if you are going to make your own monero, or if you will be joining a monero pool.
In a mine pool, a group of Monero miners gather and combine the power of their hardware. This gives them the best opportunity to verify transactions (yes, competition is tough!). The reward they receive from the mine is also divided between the mine pool. Most mining pools charge you a pool fee, which is usually in the 0-2% range.
Imagine that you are contributing 5% of the total hardware power of your existing mine… which means you will get 5% of the total rewards earned by the Monero mine.
It is not recommended to start solo mining (mining yourself). Solo mining can be a huge headache,unless you want to invest a lot of money in mining hardware.
You can choose from many monero mining pools on the market. Below is a list of the best Monroe mining pools.
2.Faucets
Monero (XMR) faucets help obtain cryptocurrency with a focus on privacy.
Crypto faucets have become a popular way for users to access tokens without having to purchase them directly through exchanges. While payments are small, most do not involve extensive work or complex inputs. After all, the rewards are free and allow users to test different crypto-assets without spending a single penny.
1.Express Faucet
Express Faucet is not only one of the best monero faucets because it allows users to access multiple cryptocurrencies while at the same time providing a platform wallet for storage.
The built-in wallet may not compete with the official XMR application, but it does come with an encrypted algorithm and the tube provides a convenient shape for frequent users. Express reports with more than 24,000 users since its launch in October 2018, with a total of 0.57 XMR payments each
Express faucet features:
Claim every 30 minutes
Lottery bonus
Earn up to 0.00042754 XMR.
2.MoneroFaucet.Info
Users of MoneroFaucet.Info need to resolve captchas in exchange for XMR rewards. The payout is based on a rated system ranging from a small amount of 0.000005 XMR to a very reasonable 0.025 XMR. Users will have to wait 60 minutes between claiming their rewards, but in the meantime the platform allows live mining monero.
MoneroFaucet.info faucet Features:
Claim every 60 minutes
Loyalty bonus plan
Earn up to 0.025 per claim
3.Allcoins.pw
Allcoins.pw one of the few more high reward cryptocurrency tubes, Allcoins.pw is a site to see if you want to earn free monero.
Payment is made directly to your Monero Wallet.
Allcoins.pw faucet Features:
Claim every 5 minutes
Payment by wallet directly.
No fee entry
Earn up to 0.00001716 XMR per claim
3.Monero Exchange
The basis of the exchange earnings of cryptocurrencies is based on the same principles that were used to trade in exchange in the last century: buy when cheaper, buy less when more expensive. Despite the apparent simplicity of this policy, the exchange can be very difficult, so you need to approach it with the utmost care.
In order to successfully engage in cryptocurrency exchange and make money in it, you need to carefully monitor market trends and find the right moment to buy or sell cryptocurrency. It is also useful to set aside enough time to study the theoretical part and the psychological preparation. The cryptocurrency market is known for the speed and abruptness of dynamic trends (this is called “high volatility”), so you can quickly profit from your investment and at the same time you may lose it.
One of the most suitable options for exchange is Godex Exchange, which is specially developed for working with private cryptocurrencies, one of which is Monero.
4.Earn interest with XMR
So, if you are looking for a digital currency to invest in for a long time, XMR is a better choice than any other digital currency due to its unique and reliable features. With the relatively high interest and effort of the developer community, one can expect Monero to be a good long-term investment.
You can earn up to 10.3% of your assets
CoinLoan Interest Account
Earn up to 10.3% per annum on CoinLoan interest account. Deposit Assets Find your account on CoinLoan with Coins or Fiat to earn up to 10.3% APY.
An interest account aims to provide you with a lucrative income quickly and easily.
Deposit of assets
Fund your account with CoinLoan Coins or Fiat to earn up to 10.3% APY. Minimum deposit period is one day, maximum is unlimited.
Earn interest on your assets
Once you have deposited the funds in the account, they start making a profit. Interest is collected daily and deposited directly into your wallet on the first day of the month.
Withdraw whenever you want
Your funds will never be locked as they often happen in a traditional bank savings account. You have the freedom to withdraw funds at any time with a single click.
How to invest in Monero
Unlike many alt coins or those without a base currency, you cannot buy XMR directly. Instead, there is a round about the way to buy XMR. The flow looks like this: Buy BTC via Coinbase and then switch to Cryptopia, where you can buy XMR with your BTC.
Create a cryptopia account
Buy Bitcoin or Ether on Coinbase
Convert your bitcoin to cryptopia
Buy XMR
5.Idle Empire
All you have to do to get your free Monero (XMR) is sign up for an account in idle-Empire, respond to some paid surveys, watch videos or get full offers and quickly recover your points for Monero. They will send the XMR directly to a wallet address of your choice.
Conclusion
Monero mining may or may not be profitable, it all depends on these factors: hash rate, power..it can sometimes make you wait longer to see a profit.
If you think Monero Mining is for you, you can start mining the information in this guide!
However, if you have decided that you want to take an alternative way of investing in cryptocurrencies, you can buy XMR on sites like Coinabase or Simplex.
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