Many people think that Monero is the only cryptocurrency which provides complete anonymity. However, it is not true at all. There are various other coins which offer you the option to transact in anonymity. The primary among them is Zcash (ZEC). However, in spite of such possibilities, Monero (XMR) is gaining more momentum and credibility. In this article, we will learn why Monero (XMR) is gaining more credibility as compared to other similar cryptocurrencies.
Why is Monero more credible than other anonymous coins?
1. Complete anonymity:
Unlike some of the other options like Zcash (ZEC), anonymity is not partial or optional in Monero (XMR). When transacting in Monero (XMR), you can be sure that nobody can trace the transaction back to you. Thus, you have complete peace of mind when using Monero (XMR). On the other hand, in Zcash (ZEC), anonymity is optional.
2. At the forefront:
3. Large user base:
The user base for Monero (XMR) is quite large. In fact, when you look at the transaction volume of Monero in the past seven days alone, it has risen from $ 40 million to $ 79 million. Along with that, the price has also risen from $ 66-$ 88. It means that the participation of users is on the rise as well. It is one of the primary reasons why Monero (XMR) is more credible.
4. More listings:
Monero (XMR) has been around for quite some time. Due to this very reason, it is available across more cryptocurrency exchanges. Even though some of the cryptocurrency exchanges might have delisted it due to its anonymity, but it is still readily available. It is another reason why it is more credible.
All these features combined make Monero (XMR) more credible than Zcash (ZEC) and other such alternatives. Currently, it is trading around $ 88, and many people think that it can move even higher. The next resistance for the Monero is around $ 110. That is why it has plenty of room to go before it meets that crucial resistance.