The fact that Monero has become somewhat difficult to buy on exchanges and thanks to strict KYC requirements, which results in XMR purchases no longer being anonymous, crypto enthusiasts have turned to mining the privacy token in droves. Saying that privacy coins and privacy-preserving protocols are only used by criminals is such a ridiculous narrative as we know that suitcases full of cash changing hands has been the motive behind some of the most heinous crimes in history, yet cash isn’t banned, so why the unfair targeting of private and untraceable crypto projects? Image via blog.chainalysisĪnyway, I digress.

To drive the point home further, an annual report on crypto usage from Chainalysis found that just 0.15% of all crypto transactions are used for illicit purposes. You don’t give your employer, friends and family access to your banking history and spending habits, so why should crypto work any differently? The truth is, financial privacy is a basic right that everyone deserves. Image via CoinGeckoĭue to privacy concerns and regulatory crackdowns, Monero has been delisted or has never been listed on many major exchanges over unjust fears and assumptions that privacy coins are only used by criminals and for money laundering. XMR is currently ranked #28 on CoinGecko. Monero was launched in 2014 with the intention of being a privacy-preserving payment network, providing users with anonymity as the sender and receiver cannot trace or track transactions. XMR enjoyed an all-time high of $517.62 on May 7, 2021, during the 2021 bull market that resulted in many coins hitting their all-time highs.

Monero's market cap is $2.8 billion at the time of writing with a 24-hour trading volume of $87 million. Monero is the largest privacy coin in the industry, beloved for its private and untraceable features.

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