Monero is a cryptocurrency that was created based on the CryptoNote protocol. It is focused on increased confidentiality of transactions. This coin appeared on April 18, 2014 as a fork of Bytecoin (not Bitcoin!).
Bitcoin and Monero: what’s the difference?
When we talk about payments using Bitcoin, we understand that in addition to visible addresses, the payment amount is also known, which allows us to compare and connect a lot using deduction. Things are completely different with Monero, as the blockchain and payment amounts are completely anonymous here.
Anonymity is cool, but there is one caveat that you should take into account, namely the fact that the transaction speed in Monero is lower than that of BTC. This is all because of the abundance of protective equipment. In addition, fewer sites work with this currency than with BTC. But we doubt that you will consider these shortcomings too high a price for security.
How to create a wallet
Creating a Monero wallet is easy and fast! To do this, download the Trustee Wallet app and click on the Create Wallet button. Next, you will need to write down your individual access recovery phrase on the sheet and confirm it. That’s it! Your wallet is created and ready to use.
