The asset was established in 2014 on April 18, which means that in a few days, the currency will move from “infant” to “child” status. The crypto community is now celebrating with meetings, get-togethers and other events to wish the currency a happy and prosperous future.
Monero is a privacy-focused coin, meaning it hides all financial transactions through a special encryption process. It thus classifies as a fungible cryptocurrency, and Monero amounts bear no origin or histories. It can also be exchanged for any other currency, including fiat like the U.S. dollar.
This gives the asset both a positive and a negative side. On the one hand, users and businesses that seek to purchase goods and services with cryptocurrency may often do so with Monero. In many ways, the cryptocurrency brings the desired effect and results of all digital assets home by allowing individuals to use it as a method of purchase and giving them financial independence from banks and traditional financial establishments.