What is the Monero Cryptocurrency and can you Shop with it?

Monero offers private, digital cryptocurrency that’s untraceable and secure as well as accessible to anyone and open-source. This allows Monero’s clients to be their own banks. Each client can individually control, monitor, and be responsible for their own funds, allowing each client to keep every one of their transactions and accounts private and out of the reach of anyone who might be snooping around.

What Makes Monero Different?

Monero is different because it’s much more secure than other companies. It’s operated by a network of individual users rather than controlled by a centralized group, allowing users to keep their digital assets secured. Using distributed census, each transaction is confirmed, and then permanently and unalterably recorded within the blockchain. This process does not rely on trusting a third party in order to keep the client’s Monero account safe.

How Does Monero Safeguard Privacy?

The amount, destination, and origin are all hidden using a combination of ring confidential transactions, ring signatures, and stealth addresses. With Monero, users don’t have to make any concessions to the usual privacy concerns in order to enjoy a decentralized cryptocurrency system.

What Makes Monero Untraceable?

By default, Monero obfuscates the transacted amount, sending address, and receiving address of each user transaction. When a transaction is made and recorded within Monero’s blockchain, there is no way to link that transaction to any user’s identity in the real world.

What Makes Monero Fungible?

Those concerned about their cryptocurrency units being blacklisted because of their previous association with certain transactions, exchanges, or vendors need not be concerned about their Monero assets being blacklisted. Monero cryptocurrencies remain fungible because of the privacy safeguards Monero takes. Because funds cannot be associated with a previous exchange or vendor, funds are not subject to being blacklisted.