Edge: Private and Secure Mobile Crypto Platform Monero Wallet

Since its inception, Monero has created a lot of buzz.

Monero (XMR) is one of the most private cryptocurrencies due to its use of cryptographic Ring Signatures, confidential transactions, and its unwavering focus on privacy and fungibility, which are key issues in crypto-land.

The Edge team has been committed to privacy since the day we launched in 2014.

Edge doesn’t collect any personal information on their users, no email, no phone number, and only end-users have access to their Monero and other crypto holdings. Unlike other privacy-focused cryptocurrencies, Monero is the only one to have privacy features “on-by-default,” ensuring all users reap the benefits of financial privacy with no additional effort.

The addition of Monero re-enforces our commitment to financial privacy.

At Edge, we’re just as committed to privacy as we are to the security and usability of crypto-assets. People all around the world will now be able to secure, send, and receive their Monero right from their mobile phone with the help of a private, battle-tested Monero wallet. Edge also supports Monero Payment IDs for compatibility with sending XMR to various exchanges.

Is The Monero Market Growing?

Monero’s value has increased from around $0.50 in 2014 to an all-time high of $517 in May 2021; and even though its price has taken a hit over the last year, XMR continues to be a well-renowned asset within the cryptocurrency ecosystem. Being seen as the leading privacy coin currently available within the crypto market has continued to bolster Monero’s value proposition.

Is Monero Better Than Bitcoin?

Monero employs a dynamic block-size limit. Due to the low throughput of blockchain networks like bitcoin, an increased number of transactions on the network can cause network fees to increase dramatically. In an effort to mitigate against this issue, Monero’s dynamic limit can be increased and decreased by miners based on market conditions… This is one of the key innovations Monero has deployed in contrast to the Bitcoin network. 

Another advantage of Monero is its focus on privacy. When compared to Bitcoin, Monero offers a much higher level of user anonymity, effectively making it impossible to track transactions on the network. While Monero transactions are private and untraceable, Bitcoin transactions are pseudonymous and can be traced to individual users with less friction. 

Who Uses Monero?

Monero lends itself well for regular, daily spending, especially at times when fees on the Ethereum network are too costly, or when users need a transaction to confirm quickly and can’t wait a minimum of 10 minutes for the bitcoin network to confirm transactions.

Unfortunately, ransomware gangs have been known to employ Monero in the past, and that is how it has often made headlines. But Monero is still used daily by people who believe that each person has the right to privacy when it comes to their personal financial transactions and that they should have a choice as to whether that data be shared with others – be that big tech or government agencies.

Will Monero Survive the Next Crypto Market Crash?

Monero has been around since 2014 and already survived two major crashes in the crypto market, so there’s a strong chance that Monero will be around for the long run. Monero has an extremely active community of both users and developers and is still the leading privacy coin in the crypto space. With a strong community, active use case, and levels of privacy not found with other cryptos, Monero is likely here to stay.

Can You Buy Monero With Euros Through the Edge App?

No, you cannot. In fact, due to legal compliance, there aren’t any exchanges that allow direct purchases of Monero using Euros. However, with Edge’s built-in buying, selling, and trading, it’s entirely easy for users to purchase an asset like Bitcoin with Euros, and then swap Bitcoin into Monero, all inside of one app. 

How Private Is the Monero Wallet?

Monero’s objective was to create a digital currency with the anonymity of cash and the ability to be private by default, and they’ve succeeded in doing just that. When you use Monero to pay for a purchase or exchange Monero instantly, the receiver does not know the sender’s identity unless they disclose this themselves, nor can they trace the address that the transfer came from. Monero users’ personal information is completely private. Monero is a great coin to use for those who prefer their financial life to be kept private unless voluntarily disclosed.