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Exchange Monero (XMR)

If you're looking to swap Monero, SwapSpace is your one-stop shop. We have some light reading for you — in case you'd like a refresher on what is Monero, or some fresh information about XMR’s price movements. And, of course, we provide you with multiple Monero exchange options so that you can choose the offer with the best rates and lowest Monero fees, as well as other parameters that suit you.

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Monero Price Stats

To help you make a decision about exchanging your Monero, we gathered some cold hard numbers: Monero price chart and other stats, such as Monero market cap.

XMR 24H HIGH

XMR 24H HIGH $138.43415418

XMR MARKET CAP

XMR MARKET CAP $2,495,012,666.683

XMR CIRCULATING SUPPLY

XMR CIRCULATING SUPPLY 18,416,488.221 XMR

XMR 24H LOW

XMR 24H LOW $134.4620767

XMR PRICE

XMR PRICE $135.47711359

XMR 24H VOLUME

XMR 24H VOLUME $1,963,288.245

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Monero Price Chart

Here you can see the current price of Monero, as well as Monero price history.

What is Monero?

Monero's origins can be traced back to a Bitcointalk forum thread initiated by a user named "thankful_for_today" on July 18, 2012. Thankful_for_today discussed the concept of a new cryptocurrency that would prioritize privacy and anonymity. This early discussion laid the foundation for the development of Monero.

Monero is a privacy-focused cryptocurrency that aims to provide enhanced anonymity and fungibility to its users. It was launched in April 2014 and is built on the CryptoNote protocol, enabling private, untraceable transactions.

Monero was initially created as a fork of another cryptocurrency called Bytecoin. The fork occurred on April 18, 2014, due to concerns within the community about the legitimacy and fairness of Bytecoin's distribution. A group of developers led by "Johnny Mnemonic" (a pseudonymous identity) decided to fork Bytecoin's codebase and create a new cryptocurrency that would better adhere to the principles of decentralization, privacy, and fairness.

After the fork, the development of Monero continued with the contributions of various developers, many of whom chose to remain pseudonymous. Monero's community grew over time as more people recognized the value of a privacy-focused cryptocurrency. The developers continued to work on improving Monero's privacy features, scalability, and overall functionality.

Monero is renowned for its strong privacy features, including ring signatures, stealth addresses, and confidential transactions. These features make it difficult to trace transactions and link them to specific participants, providing users with a high level of financial privacy.

Ring signatures obscure the origin of a transaction. When a transaction is made, it is mixed with several other transactions in a way that makes it difficult to determine which one is the actual sender. Ring size refers to the number of transactions mixed together in a ring signature. Monero's default ring size has gradually increased over time to enhance transaction privacy.

Instead of using a recipient's public address directly, Monero employs stealth addresses. A unique one-time stealth address is generated for each transaction, ensuring that the recipient's address is hidden and not publicly associated with their identity.

Monero employs confidential transactions to hide the transaction amounts. While the transaction is still verifiable and valid, the actual amounts being transacted are obfuscated.

Unlike Bitcoin, Monero has a continuous tail emission, meaning that a small amount of new XMR is created with each block. This ensures that miners are incentivized to secure the network through mining rewards, even as the block rewards decrease over time.

Ring Confidential Transactions (RingCT) is an extension of confidential transactions that combines the principles of ring signatures and confidential transactions. It ensures that both the sender's identity and the transaction amount are kept private.

Bulletproofs are a cryptographic technique used to improve the efficiency and scalability of Monero transactions. They significantly reduce the size of confidential transactions, making them more efficient and cost-effective.

Kovri is a project aimed at enhancing Monero's privacy even further by providing a secure and decentralized way to route transactions over the Internet. It's designed to hide IP addresses and ensure network-level privacy.

Monero uses a PoW algorithm known as RandomX, which is designed to be resistant to ASIC mining and promote CPU and GPU mining. This aims to ensure a more decentralized distribution of mining power.

Monero's block size is dynamically adjusted based on demand. This helps accommodate varying transaction volumes while maintaining a reasonable level of network security.

Monero users have both a view key and a spend key. The view key allows users to see incoming transactions without being able to spend the funds, while the spend key is used to sign transactions.

Over the years, Monero has gained recognition as one of the leading privacy-focused cryptocurrencies. It has been adopted for various use cases, including as a means of conducting private transactions, protecting financial data, and preserving anonymity in online transactions.

Monero (XMR) is the native cryptocurrency of the Monero network. It's used as a medium of exchange within the Monero ecosystem and is primarily designed to provide private and fungible transactions. Like many other cryptocurrencies, XMR can be used as a digital currency for various transactions. It can be sent and received globally, enabling peer-to-peer transactions without the need for intermediaries like banks.

Monero places a strong emphasis on privacy. XMR transactions utilize advanced cryptographic techniques, such as ring signatures and stealth addresses, to obfuscate transaction details like sender, receiver, and amount. This enhances the privacy and fungibility of the cryptocurrency, making it difficult to trace or link transactions.

XMR tokens are used as rewards for miners who contribute computational power to validate transactions and secure the Monero network. XMR is used to pay transaction fees on the Monero network. These fees are typically small and help prevent spam and secure the network.

Monero has a limited supply of coins, which is capped at 18.4 million XMR.

Average Fees on the Monero Network

Monero (XMR) has a dynamic fee system that adjusts based on network demand and block size. This means that the fees can vary depending on the congestion of the network and the priority of the transaction. Monero's fees are typically measured in a unit called "piconero," which is a very small fraction of XMR.

As of 2023, the average fee on the Monero network is around 0.005 XMR. As of August 2023, all of the tokens are in the current circulation (18,325,555 XMR).

The XMR Wallets 

There are several popular crypto wallets, that can be used to store the XMR token, including Monero GUI Wallet: This is the official desktop wallet developed by the Monero community. The other options include MetaMask, Trust Wallet, Monerujo, Cake Wallet, MyMonero, Ledger Nano S and Ledger Nano X, etc.

A Simple Way To Exchange Monero Here At SwapSpace

Step 1
Step 1

Choose a pair

Choose the cryptocurrencies you would like to exchange among more than 1750 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.

Step 2
Step 2

Select the best rate

You choose the rate – we do the magic! Pick up the exchange service by the rate which meets your requirements. Make sure you are okay with the selected service network fee and privacy policy: some of them require you to pass the AML/KYC procedure.

Step 3
Step 3

Transfer funds

Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!

Step 4
Step 4

Receive your coins

You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: support@swapspace.co.

Exchanging Monero: SwapSpace’s Video Tutorial

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Popular Exchange Pairs with Monero

Those cryptocurrencies are most frequently traded with Monero at SwapSpace. Join our other customers in the “Exchange Pairs” section!
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