Since its inception in 2014, Monero has quickly gained public attention and became one of the most popular altcoins on the market. Due to its unique characteristics, such as privacy and untraceability, Monero is stably included in the top 15 cryptocurrencies by market capitalization and remains in the investment portfolio of many experienced traders. Before we will share a list of the best crypto exchanges where to buy and sell Monero in 2020 let’s find out why the hype around this altcoin shows no signs of abating.
Monero key facts
Monero XMR is an open-source altcoin that focuses on anonymity and decentralization as its key features. This cryptocurrency employs an innovative type of cryptography to make sure that 100% of its transactions stay completely untraceable and unlinkable.
Modernized blockchain, secure encryption, and limitless supply make it an influential coin with a stable future and great investment prospects. In February 2020, coinmarketcap.com ranks Monero 14th in the list of the top 100 cryptocurrencies with the market capitalization of $1,410,163,711.
Crypto exchanges to consider
Godex.io is a cryptocurrency exchange which focuses on safety, anonymity, and efficiency of crypto trading. Unlike the majority of exchanges, which require time-consuming verification procedure, Godex does not ask for personal details, accounts or registrations. With powerful security protocols and protection from DDoS attacks, this crypto exchange allows to buy and sell Monero in a fast and secure manner.
Coinbase is one of the most popular cryptocurrency exchanges which was established in 2012 with a headquarter in San Francisco. It has a great reputation and only features the most influential cryptocurrencies which ensure exchange’s high trading volumes. In order to start trading, you will have to verify your identity and provide contact details first. You will also be asked to register Poloniex account and transfer your crypto to it. By doing that, you will be able to use one exchange to buy Monero with fiat (USD, EUR, etc) and another one to trade for this crypto.
Being one of the most well-known American crypto exchanges, Kraken has announced Monero trading in 2017. Nowadays, you can trade this coin in pairs XMR/XBT, XMR/EUR and XMR/USD with a possibility of margin trading. Most Kraken clients store their crypto assets in cold wallets and apply PGP mechanism to protect private data from hackers.
Since its launch in 2015, Binance has earned a reputation as one of the most trusted and secure cryptocurrency exchanges in the world. Its American branch was opened in autumn 2019 with a headquarter in San Francisco. The exchange processes over 1 000 000 requests per second which turns it into the biggest platform in the USA.
Poloniex is the other large US-based cryptocurrency exchange with a good reputation and a great accessibility. With a variety of advanced trading tools, data analysis algorithms, 24/7 support and a cold storage option, it became attractive to both newbies and experienced traders. In order to trade Monero, you will either have to analyze order books listed by other users or set up a new listing and check whether anyone would like to purchase XMR from you.
With its great features and a well-established community, Monero is definitely worth exploring and adding into your investment portfolio. Due to a good reputation and growing trade volumes, the majority of cryptocurrency exchanges are offering to buy and sell XMR for Bitcoin, Ethereum or a variety of other fiat currencies.
The articles you may be interested in: