Cryptocurrency Q&A
Is Monero legit?
Is Monero legit?
BitcoinBaron
Thu May 01 2025
|
6
answers
1773
I've been hearing about Monero a lot recently and I'm curious about it. But before I get into it, I want to know if Monero is legit. Can someone tell me if it's a trustworthy cryptocurrency or if there are any red flags I should be aware of?
6 answers
ShintoBlessing
Sat May 03 2025
Monero ensures that every user remains anonymous by default. This feature is central to its design and provides a layer of security and privacy that many users find appealing.
Was this helpful?
203
27
Carolina
Sat May 03 2025
The privacy aspect of Monero extends to every transaction made on the network. This means that transactions cannot be traced back to the individuals involved, adding an extra layer of protection for users.
Was this helpful?
395
30
KDramaLegend
Fri May 02 2025
Due to its untraceable nature, Monero has gained a reputation as a cryptocurrency that is often used for illicit activities. This has led to some controversy surrounding the cryptocurrency and its use cases.
Was this helpful?
359
52
FantasylitElation
Fri May 02 2025
The IRS, the tax collection agency in the United States, has even offered a bounty to anyone who could crack the privacy features of Monero. This shows the level of concern that some government agencies have about the use of Monero for illegal purposes.
Was this helpful?
358
65
Caterina
Fri May 02 2025
Despite these concerns, Monero continues to be a popular cryptocurrency among those who value privacy and anonymity. Its unique features make it an attractive option for those who want to conduct transactions without being tracked.
Was this helpful?
313
66
Load 5 more related questions
