There is no such thing as a boring day in the world of cryptocurrency. Circle is one of the more prolific applications when it comes to blockchain technology and supporting cryptocurrencies. In their most recent move, they added Monero to Circle Invest, the company’s mobile application. It’s a very interesting development, considering how much opposition this altcoin has received.
Circle Invest Embraces Monero
It is quite interesting to see how Circle pays close attention to cryptocurrencies providing privacy and anonymity support. Given the fact that those currencies are being scrutinized by regulators all over the world, one would have expected interest in Monero, Dash, and Zcash to wane. That has not been the case whatsoever, as more and more people see the benefits of such currencies when looking at the bigger picture that is the cryptocurrency industry.
With Circle Invest now adding support for Monero , things will undoubtedly get a lot more interesting. The firm had already enabled Zcash support about a week ago, which took people by surprise as well. It is a bit strange for this company to be adding support for currencies facing such scrutiny. Even so, these additions to Circle Invest immediately validate both currencies as legitimate opportunities to make good money and shape the future of cryptocurrency.
By facilitating crypto asset investment for individuals, the Circle Invest app has become of great interest to people around the world. All one needs is a mobile device and some money with which to buy into these currencies. There are no commissions, no custodial aspects, and a high degree of liquidity.
Considering that this application has only been around for five to six weeks, it has quickly made a big impact around the world. Many people consider Circle Invest to be a major competitor to centralized exchanges, which wouldn’t necessarily be a bad thing. Such exchanges are usually a target for criminals and other individuals with nefarious intentions.
The way things stand right now, Circle Invest supports a total of seven cryptocurrencies. That list includes the likes of Litecoin, Bitcoin Cash, and now Zcash and Monero. It is a very select club to be a part of, although it seems to be a matter of time until more currencies and assets are supported by this application. One surprisingly absent asset on this list is Ripple’s XRP, although concerns regarding this asset being a security may have something to do with that.
Whether or not this development will generate more interest in Monero remains to be seen. Although this anonymity-oriented cryptocurrency has solid technical fundamentals, there are still some concerns over its use by criminals and even the North Korean government. Whether or not any of those allegations can be proven is a different matter altogether. Even so, Circle is convinced that Monero is here to stay, which can only be considered a positive development.