Monero (XMR) Amount: 4.0 XMR
The auction timer counts down to the end of the auction.
When the auction timer reaches 00:00:00, the auction ends and the winner is the user who placed the last bid.
1. Bidding is placing an offer.
2. Each bid on the previous offer extends the auction time by the time specified in the auction card. Depending on the auction, this can be from 5 to 60 seconds.
3. Each bid increases the item price by a few symbolic cents. Depending on the auction, this can be equivalent to 1 to 10 cents.
You need Bids to place a bid. BIDs are the currency of the service that allows you to participate in all auctions and buy items for pennies. To purchase BIDs, click here.
You can approach the auction yourself using the "Bid" button or use a special Auto-bidder that will help you participate in the auction when you are not at your computer. (read more).
Monero (XMR) is a decentralized, open-source cryptocurrency that prioritizes privacy, security, and anonymity. Launched in 2014, Monero uses advanced cryptographic techniques, including stealth addresses and ring signatures, to ensure that the sender, receiver, and transaction amounts remain confidential and untraceable.
Unlike Bitcoin, which operates on a transparent blockchain, Monero's blockchain obfuscates transaction details, making it difficult to link transactions to specific users. This has led to its adoption by individuals who value privacy or seek to avoid censorship and surveillance.
Monero is based on the CryptoNote protocol and uses a Proof-of-Work (PoW) consensus mechanism called RandomX, which is designed to be resistant to specialized mining hardware (ASICs), promoting more equitable mining among its users.
While Monero's focus on privacy has attracted users seeking enhanced anonymity, it has also raised concerns regarding its potential use for illicit activities. Despite these concerns, Monero has maintained a strong community and remains a popular choice for those who prioritize privacy in their cryptocurrency transactions.