Monero is the No. 1 privacy-focused cryptocurrency.
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Approximate Market Cap: $4 billion
Year Established: 2014
Cost Per Transaction: 4 cents
2020 Return: 244%
Score: ★★★
Monero has long been a favored coin for its privacy applications. Unlike Bitcoin, Monero’s public ledger is obscured — outsiders can’t use its blockchain to trace the source, destination or amount of any transaction. And its community has continued to improve its privacy — from improving its decoy transactions to obscuring recipient identities.
But Monero ran into early issues. Because transactions are so private, it quickly became a favorite of Darknet users looking to hide their tracks. After suffering a series of scandals, XMR’s price plummeted in 2017. Yet, the cryptocurrency has had a revival in recent months. Since February, the currency has increased by almost 300% as privacy concerns have taken center stage.
As we move into 2021, XMR looks like a cryptocurrency with second-wind potential. Investors should take note.