The Currency Analytics
By Steven Anderson
Monero (XMR) For Best Privacy
Matt Odell in an interview stated, when it comes to private transactions that require the utmost in privacy you are almost always better off in using cash.
Justin Ehrenhofer tweeted: “@matt_odell: "It's harder to shoot yourself in the foot if you go into Monero" #Monero #XMR #Bitcoin #BTC.”
Sydney Ifergan, the crypto expert tweeted: “We need to have more awareness of what it means to have privacy in Monetary transactions.
Using cash is very easy, to use it privately. Hopefully, one day Bitcoin will be able to be used as easily and privately as cash is.
As far as KYC goes, if you have KYC, there is no going back in terms of, it is known that it is your bitcoin, but you can make it more difficult for future transactions to be…
The primary way is using CoinJoin techniques and running your own node. Using your own node, not just running it.
Where you save your money in Bitcoin, because Bitcoin has better wealth storage properties, but you used Monero to spend more privately and easily, in order to keep to yourself,…
And, all those things combined can give you relative privacy – even if you KYC. You are better off not KYC-ing.
And, one thing I did not mention earlier which is very common in Venezuela I believe is that if you mining you don’t have to give up that KYC.
There are other things you have to worry about there. How you are connecting to the mining pool internet wise and your power consumption is important.
It is a complicated thing and you have to learn over time and you have to be very, very, very careful.