Monero the cryptocurrency of choice for modern day criminals

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Monero really needs no introduction. It made MarketWatch's top 7 cryptocurrencies to watch in 2018. Here is what they had to say:

The appeal of Monero? Anonymity. With Monero, the details of every transaction, including sender, receiver and size, are recorded on a public ledger, but are obfuscated to reportedly make them untraceable. Use Monero, and, in theory, there’s no way for anyone else to connect the dots between the sender, receiver or size of the transaction.

Sound like an appealing coin to cybercriminals? It is. The hackers behind the global ransomware incident WannaCry, which infected 230,000 computers running Microsoft Windows, demanded payments in Monero.

That said, there are many more cases recorded of hackers demanding bitcoin, and Monero’s backers say the coin’s biggest use cases aren’t illicit. It would appeal, they say, to corporations who want to move money around without competitors knowing, or to anyone who simply doesn’t want their balance and transactions made public, such as someone doing business in a foreign country who doesn’t want to become a target.

Monero recently said 45 musicians, including Lana Del Ray, Sia and Dolly Parton, will be accepting Monero. Many will even offer discounts to those who pay with it.

There are about 15.5 million XMR in circulation, and, unlike bitcoin and Litecoin, Monero doesn’t have a fixed coin supply.

Monero is a mature currency and it's use case is clear. The total estimated global illicit economy is $2.1 trillion, yes trillion. If even a fraction of this is conducted in Monero there is considerable upside.

To do your own research have a look at How to evaluate Altcoins like a Venture Capitalist

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