Monero Outreach published a new report recently about how easy it was to purchase Monero and what it takes to buy it privately so let’s find out in the monero news today.
They discussed a few ways to buy Monero with the main goal being how to purchase it privately and about buying it non-privately as it is well known that the main purpose of this cryptocurrency is privacy. The Monero blockchain is private while other blockchains are under surveillance and they will never be able to be private as Monero as the properties of the currencies is used to purchase it which will determine the overall privacy levels.
The currency that is most important to buy XMR consist of characteristics such as decentralization, immutability, and fungibility as they will also call this as being the key to staying safe. Monero Outreach keeps on stating that until the cryptocurrency is in your wallet, it’s not your XMR and that there’s no benefit from the privacy. They keep on saying that it is important to transfer XMR to your wallet and how important it is to retain the private keys with you at all times to have control over your XMR. Maheen Hernandez, the writer at the currency analytics said:
“Mining is the most private way to generate XMR. And, the good this is, that it helps to strengthen the entire Monero Network. Users might have to explore Mine Monero to strengthen the network.”
Monero Outreach stated that for practical purposes cash is fungible and they stated that for practical purposes trading XMR for silver and gold and other unmarked commodities is also untraceable. The cash transaction to purchasing XMR according to Outreach which is done in-person to have control over the privacy level from transactions. The problem with cash transactions is that there are limitations in a geographical sense and will not be possible for everyone to find people selling Monero for cash inaccessible areas. They also facilitated a site map by locations which has the list of people selling XMR in different areas.
For every kind of currency that is used to purchase XMR, there are pros and cons and it is important to weigh it against the privacy and individual use cases. There are options explained such as purchasing bearer instruments, purchasing at an ATM, and buying it with XMR and another crypto, as well as with credit and debit cards.
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