Steemit Crypto Academy | Privacy Coins | Homework task for @levycore

Hello Steemians !!

Today I'm going to make my Steemit Crypto Academy Homework task by professor @levycore Lesson that talking about Privacy Coins. A new and good lesson for me. I will try to discuss it, i hope my knowledge is more developed about Privacy Coins.

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1. Fundamental Analysis of Monero

• Rank
  Monero is ranked 27th on the crypto market. This shows Monero is a very well known privacy coin and is owned by many investors.
• Price
  The current price of Monero is $269.78. This is a very high price and is suitable as an investment coin for investors.
• Market Cap
  Market Cap of Monero is currently amounts to $4,841,455,092. This shows Monero has a high Market Cap and proves this coin is very frequently traded in the crypto market.
• Trading Volume
  Trading Volume of Monero is currently amounts to $246,982,014. This shows Monero continues to be traded by investors on various exchange platforms.
• Circulating Supply
  Circulating Supply of Monero in the crypto market currently amounts to 17,922,886. This shows Monero is numerous and unlimited coin in supply.
• Price Chart
  Price Chart of Monero in the last 24 hours shows a positive trend. This shows the price of Monero is rising and experiencing a Bullish phase. The price went up from around $253.00 to $270.00.
  

2. Creating a Wallet of Monero

1. Type and go to https://www.getmonero.org/. select Download option.
   

2. Choose the download option that suits the device you are using. Here I choose Windows OS according to the device I use. Start download.
   

3. Open the installer and do the installation. Click "Next".
   

   

4. Select and accept the agreement that has been given. Click "Next"
   

   

5. Monero is ready to be installed. Click "Install"
   

   

6. Wait for the installation process.
   

   

7. The installation process is complete. Click "Finish". Open the wallet application.
   

   

8. Choose the language you want. Click "Continue".
   

9. Choose the mode that has been provided. Here I choose simple mode.
   

10. Check the consent box. Click "Next".
    

11. Select the Wallet option that has been provided. Here I choose to create a new wallet.
    

12. You will be given a sentence which will be your Mnemonic seed wallet and a numeric code which is your wallet restore height. Save both. Click "Next".
    

13. Create a password that will be the password to access your wallet. Click "Next".
    

14. Click "Create Wallet" to continue the process.
    

15. Type and enter your wallet password.
    

16. Monero wallet has been successfully created. Make transactions on your wallet according to your needs.
    

3. Monero Advantages & Disadvantages

The reason I chose Monero is because it is a very good Coin Privacy and suitable for me to use as a digital asset. This coin has a very good potential in the future to be invested. As an investor I have to divide my investment into several types of cryptocurrencies including privacy coins. The high level of security is a major factor. With everything that this coin has and can rely on, I hope this coin can bring a positive impact and profit for the future for me.

Advantages

• High Security and Privacy
  Monero can lock all information and data related to the transaction process and the 2 transacting parties. The possibility of a hack is very small.
• Good Investment
  Monero is a coin that is very well known to many investors and has great potential for the development of a more powerful and expensive coin.
• Transparent
  Monero is a public coin that allows coin holders to share privacy keys with other trusted parties. This will facilitate and assist the needs of the transaction process carried out in any form.

Disadvantages

• Government Ban
  Monero may not be traded and used in some countries due to government restrictions and regulations. This makes it difficult for users to make transactions.
• Abuse
  Monero can be used as a means of payment aimed at fraud and abuse in the informal world of finance. This is a dangerous and illegal act.
• No Dapps
  Monero doesn't have a Dapps project in development so it doesn't have a lot of outside interactions for many investor which is very good for coin growth.

4. Conclusion

Monero is a Privacy Coin known to many investors in the crypto world. Monero's high ranking and price make this coin very suitable for short and long term investments. Monero has quite capable functions and uses a secure system. With all the advantages and disadvantages that Monero has, I believe this coin has a strong appeal. Monero has enormous potential for investors who will bring profits in the future.