Monero Investment - Update [Week 7]

7th week since I moved $1,000 into Monero. Current value is $93.51. As per usual, I'll answer one question for a follower about this investment and why I've chosen this coin. I'll do some updates on the other coins in my portfolio at a later date.

Monero is a privacy-based cryptocurrency which uses ring signature technology to mask transactions. This sort of thing is superior to most altcoins, as it allows its users to hide their wallet information from public viewing; something which should be done by any transactional cryptocurrency.

The value was ~ $50 when I invested in this. I'm currently sitting on $1,850, which is a significant increase!

Question from follower: At what price do you intend on selling XMR?

Answer: I'm not sure. It depends on the market. When investing in things like this, you need to keep a close eye on it. Personally, I'm in this for the long haul, but that doesn't mean there isn't money to be made in the meantime by predicting market rises/falls. Keep an eye on social media, if hype is growing it might be worth investing more. Once I see hype dying down and major incidences (such as the Twitter hack), I always try to imagine how it will affect the market.

I hope that answers your question, please drop your questions below and I'll pick out another one for next week's issue! (: