Should you invest in Monero (XMR)?

Privacy is something that I think is important to people and it definitely has its place in the cryptocurrency ecosystem. For example if someone has to use the option of being as private as possible with moving their funds, they would have the ability to do that with Monero. You could purchase Monero from an exchange and privately send the funds in Monero to whoever needs it, completely anonymously. That person could than exchange the Monero for fiat money or maybe they would want to buy bitcoin or some other coin with it.

It is simple to understand, but to execute like Monero and actually have the product work like it is supposed to is why I think people will use Monero for a long time.

Monero is a currency like your own you use in daily life only it has its perks and benefits for you. Cryptocurrencies are like money we are used to using except they have their own specific special use cases. With Monero that use case is when someone is trying to be as untraceable as possible.

What makes Bitcoin and other crypto like that one traceable is the public open ledger that allows anyone to see what address is the sender and receiver in a transaction. Now all someone has to do if they have the technology is analyze an address apart of a transaction on a public ledger and find out the ip address and other information. The goal of Monero being a futuristic form of money and along with other privacy coins was to improve upon the privacy technology bitcoin has - or lack there of.

The way Monero is able to be ungraceable and used in complete privacy is by using a protocol intodyced by Bytecoin called CryptoNote. Monero has been here with Bitcoin when it was all the way down at $2000 and was there when Bitcoin and the cryptocurrency market shot up. So it has been here able to withstand market changes and gain new adapters and some development along the way.

Monero is a different kind of digital money and has more differences between Bitcoin than you may think. For example mining a Monero is a different process than mining a Bitcoin. Also the total supply is not limited like with Bitcoin. It is not valued as high as it was in 2017 but is the highest valued privacy coin.

Like you already know, Monero has privacy features that are required to be used when someone wants to make a Monero transaction. There are certain ways Monero is able to achieve its high level of privacy. To read more about Monero's technology and how it achieves it's privacy go here.

This privacy coin is not easy to compete with, being already established it has technology people are used to when it comes to privacy coins. The only real threat to taking Moneros throne as privacy king is if Bitcoin is able to improve and add privacy and other stealth features. One for example is a stealth wallet, which you can google.

Scalability is the only issue Monero is going to probably face. Because Monero uses something called Ring CT that basically is the reason it will not be able to scale if changes are not made. Monero's transactions are data heavy and to compare with Bitcoins are about 30x larger.

After considering everything Monero is still the best privacy coin, and its market cap reflects this. To compete with this coin would be a hard thing to do since the technology is good and at the moment there are no problems with it's privacy features. The privacy features are what could get in the way of sclability and therefore it isnr certain to see Monero being able to perform how it can forever. Could Bitcoin introduce some privacy feature that takes the shine from other privacy only cryptocurrencies?

Please let me know your thoughts in the comments and don't forget to follow!