What is Monero?
Monero is an open source cryptocurrency based on unique blockchain technology. The main detail that differs Monero from many other cryptocurrencies is that it uses the CryptoNote algorithm to encrypt transactions. This protocol works on the principle of ring signature. It means that any member of some predetermined group can leave electronic signature to run a transaction — but it will never be known who did it.
In terms of privacy, Monero is considered one of the best and most secure cryptocurrencies. The transactions are impossible to trace and the wallet holder’s identity is hidden no matter what. For this reason, many people think that Monero is an excellent crypto to pay with online — especially if you want to stay anonymous. For this reason, NOWPayments is adding Monero coin to the list of supported coins!
NOWPayments is an innovative service that provides customers to pay with crypto in online stores and other places — hassle-free and secure. With the support of all major currencies, NOWPayments is an excellent tool to implement crypto payments into your business.
Apart from that, NOWPayments’ advantages include:
- The instant auto-conversion of the funds.
- The widest range of supported coins.
- Hassle-free and easy-to-use API.
- Convenient merchant settings.
- No hidden fees and custody-free service.
- 24/7 support
- Quickstart on this page!