Is it Safe to Buy Monero (XMR)?

Is it Safe to Buy Monero XMR?

Is Monero legal and if so, is Monero safe to buy? These are some of the most asked questions by new investors after learning how resilient and extremely private Monero XMR coins are.

Yes! XMR “is” the same as Monero. These XMR coins represent owning a part of the Monero Blockchain. If you haven’t already, check out our wonderful What is Monero Guide to better understand some of the finer details of the Monero Blockchain.

First off, Monero is a very safe coin to buy. Monero has been in operation for over 8 years and remains unhacked or changed by any third party. In fact, some government agencies have a personal bounty on Monero. Offering anyone that can hack the Monero Blockchain a hefty reward. Since this, a more than half-million-dollar bounty was announced and the Monero Blockchain continues to remain safe. In fact, some would say that this helps make Monero one of the safest blockchains ever created. Monero “is” untraceable and will continue to be. This is a factor that can weigh heavily on the decision to buy Monero. 

As one of the largest Proof of Work blockchains today, the XMR coin has proven itself to be resilient to all manner of attacks thanks to the wonderful community members developing Monero. No one has been arrested or summoned for legal recourse and this is because Monero is simply a Decentralized blockchain, with only computer code running the show. You can’t lock up code and put it behind bars, meaning that Monero “is” perfectly legal to own. But “if” for some reason, it ever becomes illegal, it’s important to know that there’s no way to prove