Why you should make XMR part of your portfolio

I’m sure that a lot of you have heard about Monero (XMR) and that it is Private/Untraceable and most commonly used in “boating accidents” but there’s more to XMR then just that and it’s potential use cases are solid

A lot of people seem to have this understanding that XMR is used solely for the purpose of buying illicit products on the dark web because it’s untraceable, and yes that does happen, but it’s also happened to Bitcoin before and now countries such as El Salvador have made BTC a national currency.

XMR can be used for so much more then nefarious acts online for example buying everyday products and subscriptions/services.

Why would you want to use XMR for that?

Credit card fraud rose by 44.7% over 2019 to 393,207 reports.

There were 1,108 data breaches in 2020,

The number of people affected by data breaches was 300Million in 2020

identity theft/fraud cases resulted in losses of $712.4 billion in 2020. That was a 42% increase from 2019. source

Paying with a credit/debit card seems simple enough but your putting your information/finances at risk of being compromised and it is a headache to deal with compromised bank cards/credentials

In comes XMR to solve these issues: Since XMR is so private the risk of having your credit/debit card compromised by a data breech is virtually impossible because you never used the credit or debit card to buy the product/service

Outside entities cannot decipher addresses trading monero, transaction amounts, address balances, or transaction histories. This is all because of XMRs stealth addresses which obscures the public address to the people involved. This also goes hand in hand with XMRs ring signature technology which makes use of your account keys and a number of public keys pulled from the blockchain using a triangular distribution method. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. XMR is so private in fact even the IRS has even offered a bounty of $625K to anyone who can crack the privacy of Monero. source

On top of all that delicious technology that XMR has to offer it is also an open source and completely decentralized so anyone can partake in using XMR. No one is excluded.

And the icing on the cake is that XMR is considerably much cheaper to transact with then Bitcoin. Plus all the added benefits with all the extra features that XMR has to offer.

Transaction fees paid (last 100 transactions) source

Monero (lowest) 0.000007 $ 0.0010

Bitcoin (lowest) 0.000027 $ 1.0647

Monero (median) 0.000009 $ 0.0014

Bitcoin (median) 0.000067 $ 2.5851

Monero (highest) 0.006938 $ 1.0105

Bitcoin (highest) 0.000450 $ 17.4929

TLDR: you should use XMR wherever possible for your day to day transactions to mitigate your chances of having your credit/debit card and personal information from being compromised.

Privacy is a human right