Apart from Bitcoin and Ethereum, Monero has the largest community of developers, which is one reason to buy Monero. Monero’s roots go back to a cryptocurrency called CryptoNote, which was coded into a coin they dubbed BitMonero, later forked into Monero. Aside from this, Monero is more private than Bitcoin, which is one feature that makes it distinct.
Essentially, the benefits investors get when they buy Monero are numerous. In this article, we will be discussing some of the major reasons Monero is a great investment. Further, into the article, we will be expounding on the expected price prediction of Monero in the nearest future.
What Makes Monero Such a Great Investment?
Before making any crypto investment, there are certain factors you ought to consider because it makes it stand out from the rest. If you are considering buying Monero, here are five features of Monero that make it a great investment:
One of the unique selling points of Monero is its security. Unlike other cryptocurrencies, Monero offers users encryption like no other. Using P2P network encryption, Monero can secure all transactions made on the platform. The security feature of Monero also covers its wallet, which is one of the most important when considering investing in any crypto asset. Monero’s network is so secure that no one has been successful, even with the 625,000 USD IRS reward for anyone who can crack it.
The biggest unique selling point of Monero is its privacy feature. While you may think Bitcoin is private, in reality, it keeps a public ledger like many other cryptos, so with some specialized tools, one can find out so much detail about a transaction. But this is not the case when you buy Monero, as no one can prove you own one, let alone know how much of it you have stored. For this reason, there is no such thing on blogs and websites as a “rich list” for Monero.
While Monero is known for its anonymization characteristics, it is decentralized crypto. This means that like Bitcoin, decisions, and control of the Monero network are not made by an individual, organization, or group. Or better still, every node on the Monero network has the same priority, i.e., there is no prioritization of nodes. So, when you buy Monero, you can ease your mind from waking up one day to find a new law implemented you weren’t aware of.
When it comes to fungibility, Monero takes it a notch higher. When you carry out transactions with fiat currencies, it leaves a trail like the serial number and the likes. These identifying markings are what the government and other interested bodies use to trace your transaction history. But with Monero, no trails can lead back to you. As such, you can easily liquidate or exchange Monero with no trails leading back to you, making it true fungible crypto.
Another reason to buy Monero is that it utilizes advanced cryptographic functions. This technology makes it possible for you to send and receive Monero so that it doesn’t reveal any data onlookers can use to trace it back to you. Remember, Bitcoin Blockchain is subject to real-time monitoring, Monero. But with the integration of advanced fungibility functions, Monero developers can achieve a new level of privacy previously unimagined.
Monero Long Term Price Prediction
Currently, Monero’s price fluctuates somewhere around $100 ($134 to be exact at writing this article). Now is the best time to buy Monero, as algorithm-based forecasts predict that Monero is expected to reach $450 by the end of 2022. This same forecast predicts that Monero will climb to an all-time high of $550 by 2023 and between $850 and $950 by 2025.
According to another financial expert, if the Monero market continues to stay bullish for the most part, then Monero is expected to reach $700 by the end of 2022. However, if the market should turn bearish, the Monero price may not exceed the $500 mark. And by 2023, it may shoot up to $1500. But with the market staying bullish till 2025, Monero is expected to go above $1100.
What you do with this information is totally up to you. Because the truth is that Monero is private crypto, and the value of crypto, this private will surely keep going up because its demand will keep increasing. Even amid all the volatility of the crypto market, Monero still shows some level of stability, making many organizations accept it as a mode of payment.