Cryptocurrency

Monero (XMR) Gets Accepted for the Tor Project Donations, BitPay Watched as a Bystander

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The non-profit organization- Tor Project recently announced that donations could be made with Monero XMR for the project. The recently accepted cryptocurrency- XMR stands the 13th spot as per market capitalization. Besides XMR, nine other cryptocurrencies can be used for donations; they include- Augur [REP], Bitcoin [BTC], Litecoin [LTC], Stellar Lumens [XLM], Dash, Ethereum [ETH], ZCash [ZEC], and Bitcoin Cash [BCH].

Talking about The Tor project, it supports human rights and aims to offer privacy-focused technology thus giving more freedom to the users. This project aims to strike absolute anonymity of the Tor network. On Reddit, a user by the name- ‘ExpensiveVanilla4’ pointed at the privacy feature of Monero while saying that XMR should make donations to the privacy-oriented projects, otherwise a person lands into another ‘list.’

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Moreover, the user can also make payments to it via the Project’s direct wallets that allow the users to cut the chase of third parties such as BitPay and enables the user to pay to the project directly. Recently Sarah Stevenson, the Fundraising Director of Tor Project posted his views on Twitter. The post revealed the intentions on cutting the dependency on BitPay given the users stop using the third party for making payments. Further, the Director is also considering the Lightning Network to replace the current payment system.

On Reddit, another user with the name- ‘Joecoin’ pointed at the difficulty of replacing the BitPay altogether. The user compared the replacement with a hypothetical replacement of Coinbase. The user further added that both BitPay and Coinbase are using outdated business plans, given the BTC comes true to its promise as a ‘p2p money.’ The user further added that these two are ‘natural enemies of BTC.

Monero is in green both in the market analysis as well as when it comes to becoming popular as a mode of preferred discrete payment method. At the press time, XMR’s current price is 53.6128762448 U.S Dollars. The crypto coin has a current supply of 16,867,814 XMR tokens. The market capitalization of XMR is 904,332,026 U.S Dollars.

XMR is making rounds of news, and the user-base of Monero is growing continuously. Recently it has partnered with G-Easy the music star, Trezor announced that it would be coming soon to Monero GUI, Binance added two new Monero trading pairs- XMR/BNB and XMR/USDT. It seems like the sun is shining extra bright on Monero.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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