Alt-coins are a taboo subject for Bitcoin maximalists. But personally, I think alts and the DeFi space will see huge gains in the next decade.
Which ones is anyone’s guess…..due diligence and attention to detail is the key.
But for now I’d like to share with you the next alt I will be accumulating. As an anonymous blogger……I think this altcoin serves something that I value very much…..
You may have already guessed it…..the altcoin I am referring to is Monero (XMR).
As I write this Monero is sitting at around $165 per token.
I primarily buy my Monero via cake wallet (an app on the apple app store).
But why Monero?
Monero was created in 2014 (has history).
Monero has a similar supply to Bitcoin at around 17 million.
Monero offers anonymous transactions to the users of its network. (Huge threat to governments)
Rather than explain to you the ins and outs of Monero…..instead I am going to share with you this video from the Crypto Vigilante:
Give it a listen…..there is a lot of information in this video. Although I tend to disagree with their sentiment on Bitcoin.
In my opinion Bitcoin is still king. It is the most secure/robust protocol out there. Monero, however serves a very important niche……privacy.
The possibility of sending money completely anonymously over the internet is just too alluring. I believe Monero has a 10x potential (minimum)……also not financial advice.
That’s the other thing…..many people come into crypto trying to do multiples on their fiat capital. I saw a quote from Naval on twitter the other day: “It’s not so much Bitcoin going up as it is the dollar going down.”
With more stimulus coming down the pike along with Central Banks licking their chops at UBI and central bank digital currencies…..it is easy to see how the dollar could continue to tumble.
I will continue accumulating BTC and Monero, especially on pullbacks.
Just thought I’d share with you all. Best of luck.