Monero (XMR) is the largest cryptocurrency that is actually money, in the sense that it is fungible, just like fiat. In spite of this characteristic, there exists a misconception that Monero could at some point come into confrontation with governments for the risks it poses, in terms of aiding criminality.
However, this perception of Monero (XMR) has no basis in reality. This argument is usually premised on the idea that only criminals desire privacy. But if that were the case, why would major companies like Facebook be under so much pressure for privacy related issues. So much so, that the EU instituted some of the strictest privacy regulations in the world. This goes to show that privacy is a universal need.
No one likes being watched when going about their everyday business. Privacy is even more important when it comes to finances. It doesn’t matter whether one is a drug dealer or just a regular store owner, no one likes it when the whole world knows how much money they have, or are transacting. This universal need for privacy means that the demand for Monero will only grow over time.
Besides, even the risk of governments cracking down on Monero in the future is quite low. That’s because, criminality has always existed, and it has little to do with people using privacy-centered cryptos. For instance, most people nowadays use cards for payments. In fact cash payments have been going down all across the world. However, crime remains, indicating that criminality will always remain irrespective of the existence of privacy coins or not.
For an investor, these are good enough reasons to be bullish on Monero (XMR). That’s because, it has a use case that has ready demand. Unlike many other cryptos that may take an ordinary person time to understand, Monero (XMR) is easy to conceptualize. Monero is simply money that you can send and spend without anyone tracing you, just like you can do with paper money. This is practical, and for anyone who understands how to buy crypto, it makes sense to buy it.
Therefore, once bullish momentum returns to the market, this crypto could be among those that draw in the most investments. That’s because, it is practical, and unlike 2017, more people now understand blockchain technology, and what it can do to transform the world.
On top of that, Monero (XMR)’s coin supply also as an incentive for investors. Like Bitcoin (BTC), Monero (XMR)’s supply is quite low, and at the moment stands at slightly over 16 million coins. When you factor in lost coins, this number could be way much lower. This means that in a bull market, demand for XMR would be chasing a very limited number of coins. This could see its value shoot up significantly and possible beat its all-time highs. It’s without a doubt one of the cryptos to keep an eye on in the next bull market. The fundamentals are unrivalled.