By now, most people know that privacy online barely exists and is in danger of eroding further every day.
That’s why a cryptocurrency project that stresses personal privacy is bound to interest a vast swathe of investors and enthusiast. We spoke yesterday about the multiple projects spring from the Monero hard fork. One that stands out is MoneroV, which will trade under the symbol XMV.
MoneroV has a clear mission: to create and maintain an untraceable private cryptocurrency.
Why Do You You Want to Hold Monero?
There are many valid reasons for holding Monero. One strong point for holding until April 30th, 2018 is because when Monero forks at block 1564965 XMR holders will receive ten times the amount in XMV. People love “two-fer” specials so imagine how much excitement a “ten-fer” creates.
Expect a steep rise in XMR leading to April 30th. Realistically, its possible to say that rise is already underway. Monero’s price is still a far cry from $480+ a few months back, but with enough enthusiastic buying, a return is indeed possible.
Add the bonus XMV coins, and it seems likely that XMR holders of note on April 30th, 2018 will do very well for themselves. Naturally, there could be a run-up/selloff as soon as the airdrop happens with the new tokens, but there are multiple ways to play it.
Think Twice About Leaving Your XMR on an Exchange
If you plan on holding XMR long term, you’ll want a wallet. You’re better off transferring money to your wallet for the snapshot. Although some third parties may handle the airdrop correctly, the smoothest possible way to ensure you get your 10 XMV per XMR is to gold the XMR in a wallet and not on an exchange.
A few days after the snapshot the MoneroV team will release the wallet, which you can download from the official MoneroV project website. At that point, you can move the coins as you wish or push them to exchange to cash in. With a project this new, the price can go one of two ways. If you’re holding out for long-term gains, you can always hang on to your 1 XMR and 10 XMV coins until you feel a sufficient price arrives.
Many people crave private transactions, free from the prying eyes of neighbors, governments, and nefarious bad actors. XMV will be mineable after the fork, and the announcement about the official pool will happen after the snapshot.
Watch out for XMV and MoneroV Scams
Don’t fall for any scams claiming air drops or ETH addresses for pre-sales. There’s the only way to get MoneroV, and that’s by owning XMR during the snapshot. Keep your head about you and ignore those accounts promising tales of riches. They’re pulling your leg.
There’s a bright new era coming for cryptocurrency, and it’s nice to see projects that cater to the crucial need for privacy and security. We’re keeping a close watch on Monero and the multiple projects spawning from XMR.