Online privacy has always been a crucial factor for our security. Now it's more important than ever since we often use the Internet for financial services, online purchases, and so on. And the problem is cybercriminals who can easily hack systems and get their hands on sensitive information. This is where decentralized privacy currencies come into play that offer anonymity and security. Monero (XMR) is not only one of these but is the best private currency on the market, despite its recent problems.
Monero (XMR) has been involved in encryption and ransomware attacks because of its decentralized and private nature
Launched in April 2014 Monero (XMR) has evolved rapidly into one of the most popular and popular cryptocurrencies , not so much for its technology, price or investment opportunities, but thanks to its whole decentralized and private nature.
Monero (XMR) blockchain is used for anonymous transactions because the ledger does not record sensitive information about owners and traders.
That's why cybercriminals have abandoned the Bitcoin (BTC) that has become increasingly regulated and has chosen Monero (XMR) for their cyber attacks such as cryptojacking or ransomware precisely because XMR is genuinely decentralized and private.
Monero (XMR) remains the best currency for privacy on the market
Despite the problems set out above, it has indirectly damaged Monero (XMR), in particular its price compared to USD, corroborated by the recent bearish sentiment surrounding the XMR, Monero (XMR) remains the best private currency on the market, no doubt.
First, the XMR is the only cryptocurrency that is untraceable, untraceable and non-traceable. In short, transactions in XMR are anonymous and private.
Secondly, no one can question the decentralization of Monero (XMR). Since the Monero team consists of only seven guys who are known only by their nicknames, with Riccardo "Fluffypony" Spagni who is the only known figure of the crew, his network needs the implications of the community.
And, in this regard, the The Monero community is vast and faithful to XMR and actively contributes to the development of the Monero ecosystem.
Therefore, Monero (XMR) is really decentralized compared to XRP (XRP), Stellar (XLM) and others, for example that, despite being open source in their vast majority, are projects driven by centralized enterprises.
In addition to its privacy, Monero (XMR) is very simple to use, so it is excellent for beginners in the crypto mining industry.  In conclusion, Monero (XMR) remains the best currency for privacy in the market, despite its recent problems.