Why Criminals Love Monero? | Blockchain Central

The video explores Monero, a cryptocurrency known for its high security and privacy due to decentralization and ring signatures. Unlike Bitcoin and Ethereum, Monero transactions are untraceable, making it attractive for privacy but also for criminal activities. Monero's fungibility ensures that its coins are not tainted by past transactions. However, this privacy has led some exchanges to exclude Monero. The video concludes with a disclaimer that it is not financial advice.

What are the two most important elements of a reliable bank according to the video?

• Investment options and returns

• Location and accessibility

• Security and privacy

• Interest rates and customer service

How does Monero ensure the privacy of its transactions?

• Through centralized verification

• With ring signatures that mix addresses

• By using transparent blockchains

• By requiring third-party protection

What is a potential downside of using Monero mentioned in the video?

• It can be used for illegal activities

• It is not widely accepted

• It has high transaction fees

• It lacks advanced encryption

Why might some exchanges exclude Monero from their offerings?

• Due to its low market value

• Because it is not decentralized

• Because of its privacy features attracting illegal use

• Due to its high volatility

What does it mean for Monero to be fungible?

• Each coin has a unique value

• Coins can be exchanged without loss of value

• It requires specific conditions for transactions

• It is not interchangeable with other cryptocurrencies