Hello, everyone that has spent a little time in the crypto world has heard about Monero (XMR). What is Monero?
Monero is a privacy coin, which means that you can use it and all the transactions will be private and not traceable, remember that this is not true for BTC or BCH, only Monero can guarentee full untraceable transactions.
The United States of America have started a bounty program for breaking Monero because of the legal problems that it brings they say. This is true, you can do illegal things with Monero but many studies have shown that the number one currency for doing illegal things is USD and the number one institutions that does such illegal things are banks. So are we banning USD?
Illegal things are part of Monero of course, but they are just a small part of Monero. Monero enthusiasts only buy and use this coin for privacy and freedom. This is the real coin that represents freedom in its real state.
Why you should hold Monero?
Monero represents a niche of the market and no other coin has been bulletproof like it. This means that it's massive undervalue, you could look at a price of $1k as being very realistic, you can look at its all time high. Monero in a real value for market is a top 10 coin and it's not even close to it right now.
If I buy it in a KYC (know your client) exchange doesn't that take out the privacy of it?
No, it doesn't. Your buy will be registered in the exchange and the transfer to your wallet will be registered too, but after that the only thing known is that you maybe have an amount of Monero. After you have Monero in your wallet nobody will know anything about what you do with it. So, yes you can buy it from wherever you want, after it is in your wallet it's yours and the transactions are private.
Do I have to have any kind of aditional measures to have my privacy?
No, you don't, you can use a VPN but if you don't use it's the same, nobody can see your transactions and nobody can trace it. For privacy the only thing you have to have is Monero nothing more.
This is what makes Monero so great, only by using it you have full privacy.
Can a country ban the use of Monero?
Yes, they can make it illegal, but if you have it, they can't trace it to you, you can use localmonero to buy from a person directly and nobody will know. So, governments block is not effective in preventing Monero from being sold. If any government blocks it, it only will do good for Monero, people will be aware of it and many will be against the government for blocking it, this may cause even more adoption.
My conclusion is that Monero is a good thing, the bad parts will be a constant in the world no matter what the currencie is. Monero is here to bring freedom to the normal people. The fact that the FBI wants to break it says it all, it's not because of money laundry, it's because they are afraid of a currency that brings freedom to the people.
Hope you stay well and liked the article.
Best Regards,
Cryptopeach
