Bitcoin Vs Monero

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  • Today’s Bitcoin Price

    1 BTC
    $44677

start Bitcoin mining
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  • Today’s Monero Price

    1 Monero
    $342

start Monero mining

The best thing about cryptocurrencies is that they make way for faster payments between individuals and enterprises from anywhere across the world. Cryptocurrencies are secure from any sort of fraudulent breaches and owing to their lack of centralized control, allow for open-ended transactions without any check-clearing fees. The value of a cryptocurrency is not predetermined and depends on its popularity.

Bitcoin

Bitcoin, as the first form of cryptocurrency, created quite an uproar in the world of digital cash. Bitcoin allows you to make transactions all across the globe without any gated permission. However, despite its several advantages, it is now serving only a limited set of users. The Bitcoin blocks are slower and more costly. Also, the Bitcoin users have been stalling the latest upgrades that would add so many features to their benefits.

Monero

Monero is relatively new in the cryptospace, and unlike Bitcoin, it is absolutely private and leaves no scope for any open transactions. It is more than just a fancy imitation of Bitcoin and all its developers are fundamentally anonymous. Monero has seen a stupendous growth of late and has been termed the best performing crypto in 2016.

So, should you choose Monero over Bitcoin? If so, then why? These are the questions that would essentially lead you to making the right choice about mining.

Advantages of Monero over Bitcoin

  • Launched in April 2014 as BitMonero, Monero (XMR) epitomizes the very first version of Bytecoin, the CryptoNote currency, and runs on Mac, Windows, FreeBSD and Linux.
  • Monero helps you to own your private bank and more so, with the innovation of the Ring Signature Algorithm, better known as RingCT, which adds yet another layer of security to your transactions. Though it uses an open source software like Bitcoin and other cryptocurrencies, Monero uses Kovri on a global IP-level. This prevents other users from peeping into your account and eyeing all your transactions. It is almost impossible to apprehend who made the last transaction.
  • In stark contrast to Bitcoin, Monero uses dynamic blockchains. The transaction time taken is far lesser and the process is also relatively faster.
  • It is ASIC-proof, which suggests than an average user may be allowed to mine XMR using CPU or GPU.

Since its origin, Monero has carved a niche in the world of cryptocurrency and has made distinctive efforts to maintain privacy and anonymity despite major setbacks and software challenges. Like Bitcoin, Monero is here to stay.