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Cryptoindex is a tool for exposure to the cryptomarket and serves as a smart benchmark for all cryptocurrencies. The AI-based Cryptoindex algorithm is continuously analyzing more than 1000 coins applying over 170 factors, processing more than 1 million signals per second to provide a highly sophisticated index of the top 100 coins.
You can find our previous reviews here:
Dash. Review - August 2018. Binance Coin. Review IOTA. Review. August - 2018 NEM.Overview Ethereum Classic.Review TRON overview. Cardano - review. Future plans. Ripple - review. Further Perspectives Litecoin. June'18 overview The Dow Jones index. From where did it come to us? Bitcoin Cash. June 2018 overview Are cryptocurrency indices a new crypto market trend? EOS. End of May'18 overview Ethereum. May 2018 overview
Here on our Cryptoindex blog, we will be posting 100 articles about each of the top performing coins selected by our powerful AI algorithm#CIX100coinreview.
Today’s review: Monero
What is Monero?
This name cryptocurrency has received from the word "coin" in the language of Esperanto. Cryptocurrency appeared on April 18, 2014, as Bytecoin fork (not Bitcoin). The release of the coin caused increased interest from the crypto community after announcing by the developers the Roadmap and the Whitepaper. The essence of the project was to make the cryptocurrency anonymous.
But on the other hand, the creation of such cryptocurrency attracted the attention of law enforcement agencies, including Europol. As an argument that was brought to the attention of developers, it was that Monero could become a good means of payment on the black market for drugs trade.
The FBI also speaks with the same statement, pointing out that Monero is in the TOP of the crypto-currency on the black market:
At the time of writing, Monero is ranked 11th by the capitalization in Coinmarketcap.com
How does it work?
Monero is mostly an open source software that uses the principle of proof-of-work. But unlike Bitcoin, Monero emission is not limited. That's why the developers did it so that the miners would ensure the system's operation even after the emission was completed.
The developers of Monero have made a lot of efforts to make their cryptocurrency secure. To achieve a high result, special measures were taken:
Among the miners, it’s in high demand, due to anonymity for mining on other people's computers and servers. Recently, there have been more cases when Monero was noticed in the code of many viruses. The power of many computers around the world is used to extract this particular cryptocurrency, in particular, this happened last year in London, where scammers used the hacked government servers for mining.
Also Monero, right along with Bitcoin, Zcash and Dash is the most used cryptocurrency in Darknet. A particularly favored method of money laundering is the so-called "mixer". The principle of its work is that the money received illegally is sent to the exchange where Bitcoin coins are purchased, for which the Monero tokens are then purchased and then the attacker can safely transfer to any stock exchange, to a pre-established account and receive money in any form convenient for him.
Advantages of Monero
Now the developers are actively working to promote the currency. Given the high anonymity and growth in demand, success is entirely assured. The anonymity of Monero transactions is not absolute. If the attacker controls a large part of the network, then under certain circumstances, he can deanonymize some of the transactions.
At the time this article was published, Monero [XMR] is 0.812% of the total of CryptoIndex portfolio. You can always check the current CIX100 composition at our MVP platform: http://cryptoindex.ai/
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Users have no guarantee that their money will be returned to them by the mixer or that the coins returned aren’t tainted in some way. An additional aspect to consider when using a mixer is that IP and Bitcoin addresses might be logged by a third party. Ultimately, users give up control of their funds in the hopes of receiving unlinked ones back. Bitcoin Mixer does exactly what its name sounds like, but it also does a lot more. In addition to mixing up your BTC , the service can do the same with LTC and ETH , providing privacy for three of ... Bitcoin Wallet Guide, Reviews and Comparison. By: Ofir Beigel Last updated: 10/23/20. Bitcoin wallets are programs that allow you to send and receive Bitcoin. However, in order to choose the best wallet for your needs there are a lot of factors to take into account. In this post I’ll cover everything you need to know about wallets and also ... By using bitcoin mixers, those fragmental transactions purposefully occur hundreds of times, using whatever bitcoin is deposited into the mixer and trading them along with a pool of other coins. Some of which are newly mined, belong to the mixing service itself or are part of other deposits. Making these microtransactions near instantaneously, so users don’t have to wait for the chain of ... The Binance Decentralized Exchange (DEX) was announced on 23rd April 2019. It one of the first large scale DEX powered by the currently largest Exchange of the world, Binance. DEX promises decentralized control of trades, wallets and now the Exchange has announced a community based listing token listing process on the DEX. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post The Most Reliable Bitcoin Mixer BitMix.Biz – Your Fast Crypto Security in 2020 appeared first on Bitcoin News. Another multi-crypto mixer, Privcoin offers support for Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. While it’s a solid mixer, they do not extend their services to certain countries, so despite their no registration policy, the site may not be available to users from countries like the US or the Netherlands. Mixing fees start at 0.8% plus 0.0008 BTC per transaction. They don’t keep their ... This is not the first year that BitMix.Biz has been the best Bitcoin mixer and it will probably remain so in 2020. This is proved by that on the Internet there are many fakes posing as BitMix.Biz. However, the industry has a lot of reliable and trustworthy blenders that deliver what they promise. Whether centralized or decentralized, the choice is ultimately yours. Bitcoin Mixer, Wasabi Wallet, and Samourai Whirlpool are the platforms that have the best user reviews. Keep your assets safe by mixing with a reliable blender. Bitcoin Laundry is another one of the mixer that deserves to top most Bitcoin mixer charts based. For starters its user-interface is one of the simplest and easiest to understand. Then, it supports as many as 10 additional addresses, which is the maximum most mixers on this list support. Its fee based on address, 0.0002 per address, no service fee.
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