Monero is a Cryptocurrency similar to Bitcoin which focuses on privacy. Before jumping into why you may want to consider using Monero, let’s first talk about the benefits it shares in common with Bitcoin.
The first benefit of Bitcoin and Monero is that they remove the middle man. Currently you need to ask an organization permission to open a bank account and send your money to somebody else. With Bitcoin you create your own account, and send money to anyone you want to, and nobody can stop you.
Another benefit of Bitcoin and Monero is that they’re universal and worldwide. Both can be sent to anyone in the world with an internet connection in a matter of minutes, again without needing anyone’s permission. This helps create and support a worldwide free market.
Privacy is a big benefit people claim Bitcoin brings to the table, and it does if used correctly. However, the corporations and governments of the world have organized themselves in a way which allows them to have a pretty good idea of what’s going on and who owns how much Bitcoin. This is where Monero comes in.
Monero is basically a clone of Bitcoin, but with some added features. First, it does not allow anyone except the owner to view an account balance. With Bitcoin that information is open for all to see. Secondly, Monero hides what account sent how much to another account from the public. So Monero is essentially Bitcoin with true privacy.
Also, as the controllers of the world attempt to tighten their grip on power, more and more people will become concerned about privacy. This will cause the value of Monero to go up as it becomes desirable to a larger group of people. In other words, it may be a good investment opportunity.
So that’s, “Why Monero?” At least that’s why I Monero! If you watch the video version of this article, I also give a rundown on the three cryptocurrencies I invest in and how I use them to buy food, clothing and survival gear.
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