Monero is peer-to-peer, digital cash that allows for humans and computers to securely exchange value. Monero stands out in the cryptocurrency space as the leader in privacy-focused technology: transactions are secure, private and untraceable.
Financial privacy is essential for an individual striving to eliminate major attack vectors. If you’d like to learn more, please read below.
When transacting with Monero, the sender, the receiver and the amount are all hidden or obfuscated. Additionally, these privacy features are mandated (or “on-by-default”), meaning you cannot create a non-private, traceable transaction.
This level of core privacy allows an individual to very easily start accepting money online while maintaining strong financial privacy. You can simply post your public address (the key that let’s you receive money) without revealing how much money you receive, when you receive it, or who you receive it from.
Why not use Bitcoin?
When transacting with Bitcoin, the sender, the receiver and the amount are all permanently and publicly visible. There are steps that can be taken to increase your privacy when using Bitcoin, but it requires quite a bit of technical knowledge, and even then the privacy can easily be undone.
As mentioned in the previous section, Monero transactions do not reveal any of this information. Therefore, if you value (or require) financial privacy, Monero is the clear choice.
Each project in the cryptocurrency space has different priorities, which allows different projects to explore and pioneer different technologies. Bitcoin’s top priorities are stability and efficiency, whereas Monero’s top priorities are privacy and security.
Are there any other benefits?
Yes! Additional benefits of using Monero (especially from a business perspective) include:
- Very low fees
- No third parties
- No such thing as a “chargeback”
- No such thing as “business” or “operational” hours
Much like the early days of the internet, taking advantage of cryptocurrency can improve your bottom line and provide an edge over the competition.
Ok, I’m in. Where can I learn more?
The Monero community maintains great documentation and educational resources. I’d recommend exploring the official Monero website, particularly the About page, followed by the different the “Getting Started” sections.
Other great resources include: