Monero is one of the best (if not the best) privacy-oriented cryptocurrencies in the world. Anonymity is enforced by default, making sure your transactions are safe from prying eyes. It's no wonder why XMR is the top privacy coin in market cap. Competitors like DASH, Zcash, BEAM, and even Grin don't stand a chance against Monero's ever-growing user base and mainstream demand. Yet, non-privacy coins are faring better on the market with higher gains within such a short amount of time.
I'm wondering why hasn't Monero taken off yet? Do you think government regulations have affected Monero's ability to go higher in price? If not, then what could be the reason? Is Monero a good long-term investment? Or are there better choices on the market (besides Bitcoin and Ethereum)? Your input will be greatly appreciated. Thank you.
I'm wondering why hasn't Monero taken off yet? Do you think government regulations have affected Monero's ability to go higher in price? If not, then what could be the reason? Is Monero a good long-term investment? Or are there better choices on the market (besides Bitcoin and Ethereum)? Your input will be greatly appreciated. Thank you.
As you say monero is probably the biggest and most well known privacy coin out there and as far as i know also widely used in the darknet for not-so-legal transactions that is where the main demand comes from i guess and of course from "normal" users that just don't want their transaction data to be publically available for the rest of time in the depths of the internet.
Regarding the price: Monero is one of those coins that did not benefit that much from the last bull run as it only barely managed to reach a new ATH, where other altcoins like ETH, BNB and many others managed to reach prices that were a multitude of the last ATH from the 2018 bullrun. In my opinion the reason for that is that during the last bull run the focus was on Defi projects and privacy coins were just not in the center of attention.