Patrick McDermott, American Renaissance, January 26, 2021
Privacy coins like Monero are generally considered to be more secure and anonymous than other widely used cryptocurrencies, such as Bitcoin. Monero’s additional privacy features include a non-public ledger for transactions, stealth addressing, and ring signatures.
How do you use Monero? The steps are straightforward:
- Purchase your preferred cryptocurrency at an established exchange: The first step is usually to buy cryptocurrency, such as Bitcoin, at an established exchange. There will be a small fee for such purchases and it may take a week or so for a bank transfer to clear. Please note, however, that such exchanges usually collect your personal information, including bank information, as a requirement for setting up an account. Since they will have your personal information, in order to take advantage of Monero’s privacy features, you will not want to make donations directly from the exchange.
- Purchase Monero: Most established exchanges do not offer Monero, so you may need to transfer the cryptocurrency you purchased to another exchange that does. I recommend Kraken. Once again, do not make donations directly from this (or any other) exchange that has your personal information.
- Transfer Your Monero to an offsite wallet: “Wallets” are external programs or websites that can store your cryptocurrency. You will want one that gathers no personal details on you. I recommend the Exodus wallet. It also handles most other widely used forms of cryptocurrency.
- Donate to American Renaissance from your offsite wallet: Once your currency has been transferred away from the exchanges, Monero’s privacy features will provide maximal anonymity. Our Monero address can be found here.
For more information, here is a detailed how-to guide.