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, 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 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.
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.
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