Ok, I should clarify. Cryptocurrencies are like cash, but digital. Like cash, there's no tracking, minimal protections (you'd file a police report like you would w/ cash), etc. You do need internet access to process the transaction, but that's the same for every other form of digital cash (e.g. debit/credit).

The only reason you'd ever need an account anywhere is to use a public exchange. You can trade directly P2P with your own generated key if you want (i.e. you can hand someone $200 and they'll transfer some crypto to your wallet address), and the only requirement is to have some kind of wallet to manage your key (also technically optional, but looking up your balance would suck w/o a wallet). And the only reason you'd need an account at all is because of government, which is there to reduce tax evasion and money laundering.

So if you think of it like a privacy-respecting checking account, it'll make a lot more sense.

You don’t need to pay fees to process cash transactions.

Technically true, but generally speaking your cash transactions are the same price as debit/credit transactions, so a portion of your payment goes to subsidize those. Some places have a cash discount, but that's pretty rare. Likewise, some places have a crypto discount, which at least for based.win, more than compensates for the crypto transaction fee.

Cryptocurrencies bake in the payment processing network, and on average, Monero's fees (<$0.01) are much cheaper than debit fees, which are much cheaper than credit card fees (usually around 3%).

Cash transactions are executed in person, where mistakes can be reversed.

The same goes with cryptocurrencies, you can do transactions in person if you want. Depending on some factors, it can take a little while for transactions to finalize (but generally shorter than debit/credit transactions), but you'll see the updated balance pretty much immediately. Yes, you'll need an internet connection, but that's the case for pretty much everyone these days, and I think only one party needs the connection to process the transaction.

If my personal info is compromised, my cash on hand is safe

Same with your crypto. As long as I control my wallet, every exchange could be compromised and my crypto would be 100% fine. As long as you never upload your keys anywhere, it can only get compromised through physical theft, just like cash. But unlike cash, if I have a backup key, I can potentially move my cash before the thief has an opportunity to, and if my key is locked, they can't access it w/o breaking the encryption.

Cryptocurrencies can be as secure as you want them to be. If you follow the 3-2-1 principle of digital backups, you should be fine:

• 3 copies on
• 2 different types of media (e.g. a paper copy in a safe at home) with
• 1 off-site

If you upload your keys somewhere, encrypt them with a password you know, and consider having backups of that password as well.

Cash is generally much more stable

That's absolutely true, but that's because it's so broadly used. This is a chicken-and-egg problem. Cryptocurrencies are primarily used for speculation because they haven't been adopted by vendors, and vendors won't adopt it because it's too volatile due to speculation.

That's why I like Monero. It makes mining unprofitable, so the only people mining are those who care about the network and are willing to take a net loss. What this means is that there's a lot less speculation, so prices seem to be a bit more stable (esp. over the last 2 years or so). But if you're using it as regular spending money, fluctuations will be relatively small since you'll only be holding it for a couple weeks or so. Since there are only a handful of vendors that I currently use with it, I put in much less than $100/month, so if it goes up or down by 5%, it really doesn't impact me all that much. Bigger moves will generally happen over a longer term than regular expenses, so it doesn't really matter.

As more people use cryptocurrencies for regular transactions, prices should stabilize. It'll probably stabilize to be inflationary, so maybe it will become a good store of value in the future, but for now, I only recommend it for short-term storage for regular expenses (e.g. a VPN or online shopping).