There are different cryptocurrencies around the world. But one of the most popular ones is Monero (XMR). This digital asset has been released in 2014 and since that moment it has allowed a large number of users to protect their privacy. In this article, we will share with you the top 3 reasons to invest in Monero (XMR) that would allow you to understand why this digital asset is so important.
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Monero is one of the largest cryptocurrencies in the world. The digital asset can be used mostly to protect users’ privacy. Due to the way in which it was created, Monero can protect the information that is shared by users.
Bitcoin (BTC) and Ethereum (ETH), for example, have public ledgers that can be accessed by anybody on the internet. It is possible to see all the transactions taking place on the network, the funds moved and the addresses that send and receive the money.
In terms of privacy, this is not ideal. The information that is being shared is very sensitive and it can be used against those users transacting the funds. Despite Bitcoin and Etheruem using pseudonyms, their identities can be easily linked to specific wallets.
This is why Monero was created, to protect users information and data when they send and receive transfers. Monero does not share users’ data (funds transferred or addresses). Monero is simply protecting users’ information.
One of the reasons to invest in Monero is related to portfolio diversification. This is one of the most important things if you are a cryptocurrency investor. There are different cryptocurrencies all over the world. Each of them offers different solutions and has different features.
The interesting thing is that Monero is considered to be a privacy coin. As we mentioned before, this has a positive impact on our data and information considering it will not be shared with third parties. This instead happens in networks such as Bitcoin, Ethereum or Bitcoin Cash (BCH), among others.
If there is a lager need for privacy, Monero will be there to receive a new influx of money from users. This could be considered a very important thing, Indeed, in terms of portfolio diversification, knowing that XMR can be used to protect our data is definitely one of the reasons to invest in Monero.
The most important thing to invest in Monero is related to the privacy that it gives to all of its users. Individuals can easily protect their private information thanks to the way in which Monero was built.
Users transacting funds will only be able to see the wallet that sends the money and the wallet that received the money. Moreover, only they will be able to know the money they are transacting. But nothing else will be available.
Furthermore, if you need to make an important transfer (meaning that it needs to be also private) the best thing to do is to use Monero. It works in the same way as a traditional cryptocurrency with the difference that the network will not be sharing all the information of users, funds transferred and addresses.
Nowadays, you can open blockchain explorers and get access to data from the Bitcoin network, Ethereum, Bitcoin Cash and almost every single network in the market. Zcash (ZEC), Monero (XMR) and in the future Litecoin (LTC) are going to be the coins offering some kind of privacy to users that transact funds in the cryptocurrency market.
The final reason to invest in Monero is related to mining activities. Users can mine Monero without using ASIC miners. That means that Monero mining activities will be available for a larger number of users that would not need to acquire large and expensive ASIC miners to get access to the digital asset.
Bitcoin mining can be a very difficult activity to conduct for a normal user. Indeed, it is certainly a complicated thing to do considering it would require users to pay a lot of money for the ASIC miners and also to keep the operations running at 100% capacity.
Each ASIC miner can cost a few thousands of dollars. If you want to be efficient, you also need cheap electricity prices and buy ASIC miners at scale in order to be able to get your investment back. However, with Monero, things can be much easier considering that even CPUs are able to mine this digital asset.
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