Buying Monero (XMR) Has Becoming a Thing of Inquiry in the Cryptocurrency Space

Fibo Quantum

Monero Outreach recently published about how easy it was to buy Monero and about what it takes to buy XMR privately.

They have discussed several ways to buy Monero with the main purpose being to buy it privately and also about buying it non-privately. It is well known that the main purpose of Monero is privacy.

The Monero blockchain is private and most of other blockchain networks are under surveillance and they are likely to not be able to be as private as Monero.  The properties of the currencies which is used to buy it will determine the overall privacy level.

The currency which is most relevant to buy Monero consist of characteristics like fungibility, decentralization, and immutability.

They stick on to their ideal of “Not your keys, not your Monero.”  They also call this as being the key to staying safe. They keep reinstating that for until it is in your wallet, it is not your XMR and that there is no benefit from the privacy factor otherwise. They keep telling how important it is to transfer the Monero to your Wallet and how important it is to retain the privacy keys with you to sustain control over your XMR.

Maheen Hernandez, writer at The Currency Analytics opined:  “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.”

Buying Monero (XMR) with Cash

Monero Outreach has to state that for practical purposes cash is fungible.  They also have stated that for practical purposes trading XMR for gold, silver and other unmarked precious commodities is also untraceable.

The cash transaction to buying Monero according to Monero Outreach is done in person to have control over the privacy level of the transaction.

The problem with cash transactions is that there are geographical limitations and it will not be possible for everyone to find someone selling Monero for cash in accessible areas.  They have also facilitated a site map by the name localmonero which has the list of people selling XMR in specific areas.

For every kind of currency that is used to buy Monero there are likely to be pros and cons and it is important to weigh it against the desired privacy and individual use case.  There are also options explained like buying with bearer instrument, buying at the ATM, and buying Monero with crypto, buying with credit and debit card, buying with bank transfer and also with Paypal.