DeutschIn the beginning, when cryptocurrencies were not yet well-known and only a few people knew anything about them, buying digital currencies was still a bit difficult. Nowadays, there are countless exchanges where traders and customers can buy Monero, for example. But in addition to this digital currency, almost all others are usually offered for buying and selling.
Buying Monero Can be Worthwhile
Buying Monero can be worthwhile because this decentralized currency offers many advantages compared to others. One is the relatively low price compared to Bitcoin, and the other is that Monero protects its buyers’ privacy and attaches great importance to it. These unique features make this coin a distinctive digital coin that is increasingly establishing itself among cryptocurrencies.
This article explains on which trading platforms you can buy Monero and why these exchanges in particular should be considered.
First of all, Bitfinex should be mentioned; in addition to Monero, this exchange offers over 30 other cryptocurrencies for buying and selling. The minimum deposit is 10,000 euros, and BTC, US dollars and euros are accepted as payment methods.
Bitfinex does not (yet) have an integrated wallet for storing cryptocurrencies. The trading platform itself seems to be very transparent, but trading is not regulated.
Modern security precautions (such as two-factor authentication) ensure adequate security. In addition, the balances are kept in cold wallets, which offers customers an additional level of security.
The advantages of Bitfinex are obvious: a very large number of coins on offer, fiat currencies can be used for the purchase, useful tools that facilitate trading and low fees.
The disadvantages include the very long verification process and the minimum deposit of 10,000 euros.
If the customer prefers not to buy Monero directly but only to trade it, then it is recommended to register with Plus500. Here, you can only “speculate” on the price fluctuations of Monero and other currencies and you do not hold any “physical” coins.
This has the advantage that even small price fluctuations can be exploited in order to participate in the price developments. Here, too, there are many tools for trading cryptocurrencies (CFDs), and this broker is also regulated by CySEC and trading can begin with a minimum deposit of 100 euros.
However, if you want to rely on a reputable crypto broker where the actual coins can be bought, you should take a look at the Shanghai-based Binance broker.
Here, in addition to Monero, other coins such as Bitcoin, Ethereum or Litecoin can also be traded. The platform supports many languages such as English, Russian and Chinese.
The low trading fees (of only 0.1% per trade) and the good liquidity on the platform are also very positive. Fast executions and deposits/withdrawals are standard here!
Last but not least, there is the American company Coinbase. Based in San Francisco, this provider entered the crypto market back in 2012, making it a provider with a great deal of experience in this area. Registration on Coinbase is very simple and the fees are very low at 0.1 percent on trading.
