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Monero vs. Bitcoin

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    Monero vs. Bitcoin

    Would like to hear your thoughts on the pros and cons of Monero and Bitcoin.

    #2
    If you are not used to using cryptocurrencies and want strong privacy, consider Monero. Monero utilizes ring signatures on the base layer for confidential transactions. That way provides privacy though it makes it more challenging to check the supply.

    With Bitcoin, you would have to take further measures to remain private. In other words, it is easier to make a mistake using Bitcoin that can lead to your identity being revealed.

    If you would like to use Bitcoin privately, consider looking into CoinJoin and use a wallet such as Wasabi Wallet or Samurai Wallet. Such services are similar to cryptocurrency mixers though you maintain control of your coins without needing to send them to a third party.

    Of course, every cryptocurrency has pros and cons. There is no such thing as a perfect coin. If a coin asserts to being capable of accomplishing everything, it cannot be trusted.

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      #3
      There is a lack of retroactive operational security in Bitcoin which indicates that historical transaction data is always made accessible through the blockchain.

      An adversary may connect a crypto user's Bitcoin address or addresses with addresses shared through onion service pages to anyplace on the internet, mainly on social media networks, where the same crypto user's identity could exist.

      Monero transactions cannot be traced since it's private blockchain means that no one may see any data that could be helpful for blockchain analysis.

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        #4
        Bitcoin is simpler to buy and is basically on every exchange. BTC is not private, and you would have to take additional measures to remove any trace of it being linked to your identity. This may seem inconvenient for users who are seeking anonymity, and the truth is it is. Convenience leads to deanonymization. Inconvenience makes it harder for deanonymization efforts.

        Sending BTC may take a very long time. In contrast, Monero is not available to buy on every exchange. XMR is becoming the preferred cryptocurrency on various websites now since it provides anonymity.

        There is an onion URL for LocalMonero, and it's quicker than BTC.

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