Hashgains

Monero Vs paypal

In case you are looking for something secure, untraceable and anonymous, then Monero is undoubtedly the option to go with. With Monero's Ring Signature and Stealth Address systems, XMR is now the second name for privacy. Here are a few reasons why the Monero platform is better than the PayPal wallet.

Why Choose Monero

Created by a core team of 30 developers, Monero was launched in 2014 for the first time as a possible alternative to Bitcoin's deficits. With its CryptoNote protocol, Monero has taken a considerable step and departed from the standard design of the Blockchain to a new database structure, focusing on performance and flexibility. Monero is the combined effort of developers all across the globe. Distributed systems as well as crypto-experts from different countries find backup either from community donations or from miners who invest their time. Since no single state is the ruling base for the Monero platform, this cryptocurrency cannot be banned by a government or be restricted to a regional jurisdiction. All major operating systems, be it Mac, Windows or Linux, support Monero downloads.

How Monero is better than PayPal

Anyone and everyone can access Monero as it runs on an open-source software. However, Unlike Bitcoin, the Monero platform ensures that only the user can control his or her wallet and transactions. Your account is hidden from the public eye.

  • With PayPal, chargeback is a big drawback. If a receiver makes false claims that he or she has not received a product or service for which he or she has paid, then the seller would have to pay a penalty chargeback. But with Monero, there’s no such possibility of fraudulent chargebacks.
  • PayPal can freeze your account and seal your transactions in case your account has not been verified. With Monero, however, the case is different.
  • You are your own bank here (because of Monero’s decentralized feature) and are responsible for all your transactions. Your funds are not controlled by a centralized body or any third party, as is the case with PayPal.
  • While PayPal takes up to 72 hours to process a transaction, Monero takes only 2 minutes. This is one of the greatest advantages that sets Monero apart from PayPal.
  • Monero’s Ring Signature comes as a default feature and the user doesn’t have to turn it on every time when making transactions. Every user has access to a set of keys which validates transactions and confirms them.

For those seeking additional privacy in crypto transactions, Monero is one useful option. It is a community-driven cryptocurrency which connects online users with anonymous peers worldwide.

signup now!