Other special features of the altcoin Monero are the self-developed proof-of-work algorithm CryptoNight, the particularly high scalability, and the decentralised mining of the coin: Monero’s memory affinity ensures that separately manufactured mining devices do not gain any advantage over commercially available home PCs – unlike Bitcoin, for example. This is why Monero is also suitable for private individuals to mine. The word “monero” is taken from the planned language Esperanto and means something like “coin” or “currency”.>/p>
You can also find important information here about which exchanges are available and whether you can also get XMR Coins with PayPal, SOFORT-Überweisung and Co.
As Monero has some differences to Bitcoin in terms of privacy, scalability as well as data security, there are also some differences when buying/selling. Above all, one should pay attention to the following factors:
If you have decided to trade Monero, we will now show you in detail how to add Monero to your portfolio. We use the broker Libertex for this purpose, as it stands out in terms of customer support, security and secure payment options such as Paypal.
First, you register with a broker.For our example, we have chosen Libertex because here we can buy/sell Monero with the best customer support, EU protection up to €20,000 and with many payment options. First, we click the link to register with Libertex:In the form, you enter your e-mail OR mobile phone number and a password and accept the terms and conditions: We then receive an email or SMS for verification, in which we click on the link to confirm the account.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/atm-2.png alt=u003e
If you previously had your account as a test account, you still need to confirm your data. Simply fill out the questionnaire. Every CFD broker in the EU is required by law to screen their clients to enable EU buyer protection. To do this, simply answer a few quick questions. Your account will then be activated, if you have not already done so. Now click on Funds on the left and a selection window will appear. There you can make deposits and withdrawals. Select the item Deposits and pay in the desired amount using the desired method such as Paypal.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/savings.png alt=u003e
Now that we have topped up our account, we can start the actual buying/selling of Monero. To do this, we click in the search box at the top and enter XMR there. Then we go to the Buy XMR field at the bottom and enter the amount for which we want to buy Monero or Sell XMR if we want to sell. After that, we have the Monero in our portfolio, the trade is done!u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/exchange-1.png alt=u003e
In our example we show trading with credit card. However, Libertex also offers other deposit options:
|Buy/sell Monero with credit card|
|Buy/Sell Monero with PayPal||X|
|Buy/Sell Monero with SOFORT Bank Transfer|
|Buy/Sell Monero with Rapid Transfer|
|Buy/Sell Monero with Skrill|
|Buy/Sell Monero with Bank Transfer|
|Buy/Sell Monero with Neteller|
|Buy/Sell Monero with UnionPay|
As a decentralised commodity, it should not make much difference from which country you operate. For example, you can buy Monero with euros through the broker Libertex without any problems.
This works in UK as well as in Austria and Switzerland. But let’s delve a little further into the matter.
Because when you get right down to it, you should also clarify tax issues. Since three different authorities are responsible, it is important to check exactly which information has to be provided. A tax lawyer can help here.
A blanket answer for UK, Switzerland and Austria and the purchase of Monero with euros is therefore unfortunately not possible.
As you can see from the overview above, there are several providers in the market. So why do we recommend Libertex of all companies?
The best way to explain this question is to compare different trading platforms that offer similar, but not always the same services.
# is a German platform that has established itself as a good crypto exchange. The rating here refers primarily to bitcoin, but not to less traded tokens such as Monero.
You can’t buy Monero here, which is why # has already been eliminated from the list of the best providers for XMR.
The basic structure of Coinbase’s offer is very attractive. The focus here is really on simple handling.
But that doesn’t help us either, as we couldn’t discover any Monero coins even after intensive research.
And so we have to keep searching, as Coinbase is also out as a Monero provider.
Binance is considered the world’s largest crypto exchange. So we are finally dealing with a provider that can show various XMR currency pairs.
These include, for example, trading pairs with the Binance Coin, with Ethereum or also with Bitcoin.
However, the platform still lacks an EU licence. Thus, one relies on a Chinese company, which we can only recommend to a limited extent.
We would also like to mention Bison. After all, this is a German offering of the Stuttgart stock exchange. So accordingly, a lot of quality is to be expected, right?
Basically yes, but not when it comes to trading with Monero. The cryptocurrency is simply not included in the offer.
One or the other crypto index can indeed be found in comdirect Bank’s portfolio. However, coins from the second series are often neglected. Thus, we do not find any possibility to invest in Monero here.
But we didn’t really expect this either.
Libertex can simply circumvent the weaknesses of the other platforms.
Although you are making a compromise with CFD securities, you are on the safe side from a purely legal point of view and are given the opportunity to trade the XMR cryptocurrency at all.
Our recommendation for the broker is correspondingly clear.
No other privacy coin convinces as many investors as Monero. With its sophisticated system of ring signatures and stealth addresses, Monero has become one of the best-established cryptocurrencies on the market – as evidenced by its good ranking on CMC: according to Marketcap, Monero was ranked 12th in December 2018. For the current ranking, visit CMC.
If the crypto exchanges experience hype again, it is almost certain that Monero will profit from it, probably more than other privacy coins such as Verge. The spread of Monero as a means of payment, for example in the dark net, and generally for confidential financial transactions, suggest that the cryptocurrency will be relevant for a long time to come.
In our view, there is little to be said against investing in Monero – apart from the general volatility of the cryptocurrency market. Given the very favourable prices in December 2018 compared to the previous year, the timing could be just right for an investment in Monero. However, it is also conceivable that prices will fall even further and that a renewed hype will not emerge.
Our guidance on mono-investment should make it clear that there are fundamentally two different ways of approaching the investment.
So you can either use CFD securities or buy the real cryptocurrency. But what is suitable for whom?
Basically, we can definitely recommend CFD trading, also because you can fall back on the EU-licensed broker Libertex for this.
This means you are on regulated terrain and in a familiar environment. A wallet is not even necessary and you do not need any great technical knowledge to handle the digital currencies.
Now we advise you to invest in Monero with Libertex, a broker that is primarily known for its excellent CFD offers.
But what is a Monero CFD anyway? If you are still completely new and inexperienced in this field, then it is worth taking a look at our guide to CFD trading.
But here, too, we want to give a brief overview of how trading works in this way.
CFDs are so-called derivatives. These are pure financial products that use the price of certain assets as the underlying.
This way, you can either bet on rising or falling Monero prices without having to buy the cryptocurrency yourself. This of course reduces the capital to be invested, but is also associated with an increased risk of loss.
In the end, the return is the difference between the price at the opening of the position and the closing price.
On the other hand, however, such CFDs are primarily suitable for day traders who already have some experience in trading. The trading commodity can involve high risks, also because fees can arise when holding positions.
So here you should know what you are doing. Beginners should therefore first visit a trading demo account before they dare to trade with real money.
In Monero trading, the question is whether long-term or short-term strategies are better. This is also about the chosen commodity.
This topic has already been dealt with a few times on this page, but we would like to mention it again for the sake of completeness.
CFD positions are particularly useful for short-term investments. Longer deals are possible, but not always recommended because overnight fees can be incurred.
So anyone who has their sights set on the cryptocurrency itself and wants to tie it into their own portfolio in the long term should open a Monero wallet and store the tokens there.
Whether a Monero investment actually makes sense in the end depends on one hand on one’s own expectations and investment goals, but on the other hand clearly on the return.
Before a potential trade, it is therefore important to first define one’s own goals. Perhaps one is more interested in the technology itself and would like to make use of the coins one day.
In that case, the coins could still be cheap now. However, such developments are still dreams of the future, so let’s take a look at alternative assets from the crypto sector that also look attractive.
The big Bitcoin doesn’t really need to be introduced any more. As the first cryptocurrency ever, the BTC token still has the largest market capitalisation and is the big drawcard of the entire industry.
Cardano is something like the cryptocurrency of the hour. Long overshadowed by the largest digital currencies, Cardano’s Ada Coin has now developed into a respected competitor. Here, so-called smart contracts on the blockchain become possible.
Iota is our popular cryptocurrency from UK, more precisely from Berlin. Instead of the blockchain, a so-called tangle comes into play, which has already found favour in industry in particular. Again and again, new projects and cooperations are announced that give hope for the best.
You like it a little more risky? Then Ripple might be something for you. The company behind the XRP token is currently in a landmark dispute with the US Securities and Exchange Commission. Should the whole thing end well, big price gains should be waiting.
The Corona crisis has caused states to pump a lot of money into all markets. There is a threat of inflation, and financial history has shown that shares in particular carry a certain stability of value. In this respect, a somewhat more stable alternative to cryptocurrencies can be found here.
There are various arguments in favour of investing in Monero. However, we also want to look at the other side and thus look at the counter-arguments for an investment.
First of all, we are dealing with an extraordinarily experienced team of developers. This is essential for the technology and not every cryptocurrency is equipped with this much know-how.
As a so-called privacy token, special attention is paid to data protection and the anonymity of the user. This has long since set it apart from other tokens that only guarantee apparent anonymity.
All in all, Monero has now also been established in the market for some time, which reduces the risk of the investment somewhat.
According to Monero, more than 240 developers have already been involved in the project, around 30 of whom are referred to as the “core team”. Monero was created in 2014 and has been able to build up a stable user base in the past thanks to its reliability and functionality. Currently, more than 1.4 billion euros are invested in Monero. (Market capitalisation – Monero) Thanks to the technology used, Monero encryption is considered virtually unbreakable and the transactions are therefore particularly confidential.
Monero uses so-called ring signatures and stealth addresses to protect the identities of both senders and recipients of the cryptocurrency. Ring signatures publish a part of the account key and combine it with public keys from the Monero blockchain. It is therefore impossible for third parties to distinguish which key segments point to the identities of the parties involved and which do not. Outsiders can view the transactions on the Monero blockchain, but they cannot assign them to individuals.
Monero is therefore often used as a means of payment for illegal goods and substances on the dark net, as well as presumably a variety of other financial processes that belong to the illegal spectrum. Since 2014, Monero has been used by holders of other cryptocurrencies to make transaction relationships unrecognisable, for example by first exchanging Bitcoin for Monero, which in turn is sold against Bitcoin after some time and finally sent to a previously unused address.
What about the need for a Monero wallet? Cryptocurrencies are also characterised by the fact that they are managed in such digital wallets.
Without an electronic wallet, one will have no possibility to manage, send or receive the crypto values. Anyone who wants to own Monero will therefore have no choice but to look for a wallet provider.
Since there are a number of criteria to be considered here that would go beyond the scope of this article, here is the link to the wallet comparison:
The cryptocurrency has already had some highs and lows. We show the most important milestones in the history of Monero.
XMREUR CHART from TradingView
What is the current price of 1 Monero? Logically, one can only present a snapshot, which is what we do with the TradingView chart above.
The price of a Privacy XMR Coin is shown here in relation to euros. The price is often also shown in USD dollars.
This page is all about buying Monero. Again and again, we are confronted with the question of whether it is possible to use PayPal for an investment.
The short answer is: Yes. In any case, we recommend Libertex, a CFD broker that has integrated PayPal as a payment method. Although you are limited to derivatives, these are sometimes very suitable for Monero trading.
With real tokens, the situation becomes more complicated. Although the payment service provider itself has now integrated cryptocurrencies, the company refers to the largest digital currencies such as Bitcoin or Ethereum.
So if you want to buy Monero with PayPal, you can do so if trading is the main focus. If not, you have to resort to other payment methods.
Monero advertises its cryptocurrency with the extraordinary anonymity that is supposed to be significantly higher than with other digital currencies. Accordingly, the coin is a so-called privacy coin.
As long as you complete a transaction on the network, it is hardly traceable for third parties who has sent how much to whom. So it is certainly possible to buy Monero anonymously. However, the question arises as to where this is done.
Even larger exchanges without an EU licence and the obligation to comply with certain regulations now require their users to provide certain data.
If you then buy a Monero token, the transaction is at least known to the platform operator. If you go a little further in your search for other ways to actually buy Monero anonymously on the internet, you are sometimes on extremely thin ice.
We advise against such investments, as fraud can often occur in this respect. In this respect, it is better to give your data to everyone in the context of a verification and then invest safely and seriously via Libertex.
In the meantime, verification has also made its way into the cryptocurrency market. Be it Coinbase, Binance or other crypto providers, with all of them you have to confirm your account or identity in some way.
This is also to prevent international money laundering. So if you want to buy Monero without verification, you might have a problem. We will explain why in the next paragraph.
We don’t want to repeat ourselves too often. Those who ask for verification often also mean full registration.
How nice it would be if you could find an offer online and get Monero coins there without having to provide any further data or create an account.
However, the reality is different. Security comes first and thus the various platform operators require registration.
Buying Monero without registering is theoretically only possible if you can turn to friends or acquaintances who have an XMR balance. Then you could buy their coins from them.
If you use the method described above, you can also buy Monero offline. Nevertheless, it is doubtful that you will find anyone who has cryptocurrencies in their portfolio at all.
If you actually find someone who also owns Monero and wants to sell their tokens, you can buy XMR offline.
This is also the only way we can recommend in good heart. There are no ATMs for Monero, as you know them from Bitcoin, for example.
If you discover offers on the internet, be it on the dark web or in classified ads, you should avoid them as soon as possible.
Too often, crypto fraud occurs, which is even more difficult to detect, especially with Monero, as the fraudsters can remain quite anonymous.
In various forums, people like to discuss how to trade Monero shares. Such interested traders are a little ahead of their time.
Up to now, one has actually had to make do with tokens for Monero. However, it is not said that one should not get the opportunity in the future. To keep up to date, it is worth regularly checking the crypto scene news.
One option would be to invest now in those groups that have started a cooperation with Monero. Like Tencent or the Epic share, for example.
Apart from that, there are also other cryptocurrencies that definitely have potential:
Another alternative is crypto stocks: chip manufacturers, mining companies and even the Bitcoin Group have been able to post strong gains so far.
At the beginning of this page, we looked at the topic of buying Monero and presented you with instructions on how to do so.
Let’s now review how to sell Monero again. So, to conclude, here is another guide.
If you have not yet registered, the first step is to create an account. Then use the login window to access the trading overview using your user name (e-mail) and password.
Now we have to navigate to the cryptocurrency. This is easily done by typing either “Monero” or “XMR” into the corresponding search box.
Of course, you can also use the general overview of the crypto markets to simply scroll through what is on offer.
Finally, other digital currencies can also be found.
Now that we are dealing with CFDs, we have two options to actively sell Monero. The first option does not even require a previous investment in XMR.
One speaks of so-called short positions. These are made possible by means of derivatives, even if one does not own the assets. In this way, one hopes for a price decline in order to profit from it.
The other possibility is when one has previously opened a buy position. To realise profits (or minimise losses), one closes this buy position.
The difference between the opening and closing price is then entered into the account.
Monero is an exciting cryptocurrency. After intensive research, it became clear to us that the best way to invest is via CFDs from the broker Libertex.
This is particularly suitable for short-term positions, some of which offer strong returns. However, attention must always be paid to a balanced portfolio and a healthy distribution of risk.
The Privacy Coin therefore looks particularly good in a multi-asset portfolio that may consist of cryptocurrencies as well as equities and ETFs. Libertex offers attractive access to all these assets.
You can trade Monero with real money via instant bank transfer, SEPA and other payment methods on the AnycoinDirect platform described above. Alternatively, if you already have Bitcoin, you can exchange XMR for Bitcoin instead. You can buy/sell Monero with Bitcoin on Libertex, for example. On both crypto exchanges you can also trade other cryptocurrencies like Ethereum.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/income-3.png alt= style=width: 100px;u003e
Despite a long search, we could not find an exchange where Monero can be bought/ sold directly with a credit card. However, you can trade Monero with a credit card in a roundabout way by first buying Bitcoin and then exchanging it for XMR. You can find out how to do this in our instructions at the top of this page.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/cvv-4.png alt= style=width: 100px;u003e
Unfortunately, buying Monero with Paypal is not possible on any of the exchanges we use.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/transfer.png alt= style=width: 100px;u003e
Monero is expected to benefit when the market as a whole starts to grow again.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/profit.png alt= style=width: 100px;u003e
Not mandatory, but we recommend it.However, some crypto exchanges also require it. For example, if you use AnycoinDirect, which we recommend, you have to create a wallet beforehand. A wallet also protects you from eventualities such as the unexpected insolvency of your exchange platform. Without a wallet, you can hold Monero on Kraken, for example.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/wallet-2.png alt= style=width: 100px;u003e
It depends on whether your wallet also supports the cryptocurrency Monero. If in doubt, it is advisable to ask the provider directly. However, most wallets now support several coins.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/cryptocurrency-2.png alt= style=width: 100px;u003e
We recommend Libertex for trading Monero. Here you can buy Monero safely with brilliant customer support. If you want to buy Monero with real money, we recommend the crypto exchange AnycoinDirect.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/millionaire.png alt= style=width: 100px;u003e