Does trust wallet support XMR?
Also, how did you able to send the native XMR to this address as it is not native XMR address and Trust wallet doesn't support native XMR blockchain. Where was it coming from? Was it an exchange or another wallet.
Monero transactions are confidential and untraceable.
Because every transaction is private, Monero cannot be traced. This makes it a true, fungible currency. Merchants and individuals accepting Monero do not need to worry about blacklisted or tainted coins.
| Wallet | Type | Open source |
|---|---|---|
| MyMonero | Desktop, Web, Mobile | ✅ |
| Cake Wallet | Mobile (iOS) | ✅ |
| Ledger Nano S (with Monero GUI) | Hardware | ❌ |
| Monerujo | Mobile (Android) | ✅ |
What is the 10 confirmations requirement? You will need to wait for 10 confirmations for your received Monero before you are able to send it. What this means is your Monero is locked until it is mined in a block and then a certain number of subsequent blocks have been mined afterward in order for it to be confirmed.
- Get a Monero wallet (Ledger Nano X, MyMonero)
- Locate your Monero address.
- Go to Kraken and sign up.
- Deposit money and buy XMR.
- Withdraw your coins to your wallet.
- Step 1: Tap on the “Tokens” menu. ...
- Step 2: Find the Wallet Address of the Token You Want to Receive Funds Of. ...
- Step 3: Use the Wallet Address to Send Money from an Exchange to Trust Wallet.
Monero is not an illegal cryptocurrency. Unlike others, it is a privacy-oriented cryptocurrency that provides users with anonymity. This means it is not traceable. This characteristic, however, does make it very popular on the darknet and for use with certain activities such as gambling and the sale of drugs.
As of Saturday, August 20, 2022, it would take 121.3 days to mine 1 Monero at the current Monero difficulty level along with the mining hashrate and block reward; a Monero mining hashrate of 42,000.00 H/s consuming 450.00 watts of power at $0.10 per kWh, and a block reward of 0.65 XMR.
However, while Bitcoin may be the largest and most known cryptocurrency, others have yet to gain planetary popularity. Monero (XMR) is one of them. It is similar to Bitcoin in many ways but diverges in key areas that make it special. More importantly, they make it worthy of mining.
- Atomic Wallet.
- Ledger Nano.
- Monero.
- Monerujo.
- MyMonero.
- Paper Wallet.
- TREZOR.
- XMR.
Can Monero transactions be traced?
The current status of Monero tracing remains in question. Cryptocurrency analytics firm CipherTrace filed two patents in 2020 for Monero tracing technology and released "tracing virtualization" tools last summer for qualified government agencies and financial institutions.
Monero (XMR) ERC20 Token in Ethereum Mainnet. Token is implemented as ERC20 smart contract with address 0x45750cd6a3bb2206dbeb9cba5e68bf909ac945e3 .
On average, Monero blocks are mined every 2 minutes. This means that after announcing a transaction, your transaction will wait for the next block to be mined, and then it will take around 2 minutes to be mined into that new block.
A Monero transaction can be tentatively completed in as little as 1 confirmation in 2 minutes. However, the latest blocks in the blockchain are changeable until more blocks are added after them. For irreversibility, 10-15 levels of blocks and thus 10-15 confirmations are needed.
Typically, this should not take more than 20 minutes. However, during periods of high network traffic, it may take longer. Monero wallets require at least 10 confirmations of any transaction before being able to send or exchange.
Compared to something more public and traceable like Bitcoin, Monero (currently valued at approximately $137 USD per coin) uses a technology suite to obscure transactions and is generally considered far more "anonymous" than its more well-known counterpart.
1. Bytecoin (BCN) Bytecoin , which is based on the CryptoNote technology, claims to be the “first private untraceable currency.” CryptoNote was created with the goal of making transactions both a) untraceable and b) un-linkable.
When Monero (XMR) users choose to veil their transactions, they cannot be traced between the sender and receiver.
CipherTrace takes Monero tracing capabilities to the next level with the ability to follow the flow of funds backwards from the transaction of interest to its source. The new enhancements offer customers the ability to prepare detailed visual reports to better trace suspicious activities.
Although some use Monero for ransomware and other illegal activities, other users just don't want a public record of their cryptocurrency transactions. Monero does have its potential issues. Countries have banned it and exchanges have delisted it.
Who uses Monero?
Monero is sometimes used by ransomware groups. According to CNBC, in the first half of 2018, Monero was used in 44% of cryptocurrency ransomware attacks. One group behind the 2017 WannaCry ransomware attack, the Shadow Brokers, attempted to exchange the ransom they collected in bitcoin to Monero.
While both are good, Monero has a better reputation in privacy circles. Unlike Zcash which has an on-and-off privacy switch, Monero is completely private and its ring signature approach makes its transactions completely private. This makes it a potentially much better investment than Zcash.
