Monero (XMR) is a secure, private, untraceable currency. It is open source, freely available to all, and was fairly launched on April 18th, 2014, without premine or instamine. The technology behind Monero has already spiked the interest of several established people in the Bitcoin development world and the cryptography community.
Monero development is completely donation-based and community-driven, with a strong focus on decentralization and scalability. With Monero, you are your own bank. Only you control and are responsible for your funds, and your accounts and transactions are kept private from prying eyes.
A breakdown of XMR transaction rules can be found here: 'XMR Deposits & Withdrawals'.