How many Monero coins are there?

Of& nbspRishma Banerjee

Monero is among the few well-known altcoin, which is placed in the 14th place. However, there are some essential things to keep in mind when it comes to investing in Monero.

One of these details is the number of Monero coins available for circulation and, subsequently, the number of Monero coins still to be extracted.

What is Monero?

If you've read our beginner's guide on Monero, you'll know that Monero is an open source cryptocurrency created in April 2014.

It focuses on fungibility, privacy and decentralization and is based on a blurred public ledger which means that anyone can transmit or send transactions, but no external observer can tell the source, the amount or the destination.

There are few coins on the market, which offer privacy and security as assured by Monero, who also defines himself as a private currency.

You can also read: Monero will be a good investment in 2019?

Where does Monero mines?

Although Monero has been the victim of some controversy and ups and downs, he is still a favorite for cryptocurrency miners.

Some of the best mineral pools for Monero are Monero Hash, Monero Crypto Pool FR, Minergate, mineXMR. To find out more, take a look at our 5 best Monero mining mines in 2018.

You can also read: How to extract Monero?

How many Monero coins are there?

According to the information provided by CoinMarketCap, the maximum limit of the final cryptocurrency provision is 18.4 million XMR. However, only a total of 16,659,407 XMR is available now, which indicates that over 90% of all Monero coins that have ever been available have already been mined.

Monero Blocks, which is a monitoring resource, has confirmed through their reports that all of Monero, a cryptocurrency focused on privacy, will be extracted by May 2022, since most of its reserve has already been exhausted by users.

We all know that, with the simple rule of the economy, prices increase when the supply decreases and the demand increases and vice versa. Even digital resources and cryptographic coins are not immune to this logic.

Monero also has a feature called "queue emission" due to which it will continue to generate small blocking premiums XMR 0.6, infinitely even after 2022. This feature is in stark contrast to Bitcoin (BTC) whose supply is fixed a Once all the coins have been extracted

According to the reference bank, Moneropedia, this feature of "tail emission" will help in preserve the incentive among miners to ensure that network security is preserved.

On this theme they said,

"Due to the dynamic blockade, competition between miners will lower rates, and if mining is not profitable due to high cost and low remuneration, miners lose their incentive and will stop Mining, reducing network security The issue of the queue ensures that a dynamic dimension of the block and a free market can be developed "

With only 10% of the total coins available, it seems like it's a good idea to invest in Monero, this new year, as prices are quite low now, due to the ongoing bear market.

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Rishma Banerjee

Rishma is currently pursuing a degree in International Relations and has a special place in her life to sift through all sorts of random curiosity, thank you very much.