Monero is pretty much the best privacy coin in the market. It has built a reputation as being uncensorable, and useful in sending money without any form of traceability, including by the government. But is Monero (XMR) viable as a long term crypto investment, one that can withstand the test of time and give significant gains in the long run? Well, looking at its fundamentals, chances are that Monero is not just a good investment, but could emerge as one of the best crypto investments going into the future. Here are 2 reasons why Monero could be one of the best long-term holds in crypto.
- People will always have a need to hide money
Monero has built a reputation as a crypto that is truly untraceable. This means that anyone looking to hide money for whatever reason, whether criminal or otherwise, can always turn to it. For a Monero (XMR) investor, this is a big plus to the long-term value of this crypto. That’s because people will always have a need to hide money. Since traditional havens for hiding money are no slowly closing up, wealthy people will pretty much turn to Monero (XMR) for its privacy and fungible nature.
In the long-run, this will have a huge impact on its value. It’s one of the few cryptos whose value is assured. It’s assured because it is anchored on human nature, and not just speculation. For as long as fear and greed are a driving force for human actions. Monero (XMR) will always have value. Fear applies in the sense that people who acquire wealth illegally are always afraid of losing it, and will inevitably turn to Monero (XMR). Drug dealers are a good example of people who are always afraid of losing their wealth. Greed applies in the sense that wealthy people will always try to avoid taxes, and in the future, Monero could be one of the best options for them to avoid taxes.
- Monero has the characteristics of money
One thing that makes fiat currency value its fungible nature. This means that one unit of fiat has the same value as the next unit, irrespective of its origin. Monero has similar attributes. One unit of Monero holds the same value as the next Monero unit irrespective of its origins.
This is a big deal to the long-term value of Monero (XMR) because it means that, anyone can use Monero (XMR) without fear that their coins will be blacklisted by exchanges. On the basis of this attribute, Monero will in the long run, draw in all kinds of users both in the corporate world and in the criminal underworld. As money flows in, the value of Monero (XMR) will grow substantially in the long-run.
On the basis of the above attributes, Monero (XMR) stands a realistic chance of hitting upwards of $1000 a coin. Its potential growth is based on the reality of human nature, and this is something that has, and will always remain the same, technological advancements notwithstanding.