The Monero (XMR) token has jumped by 10% in the past 24 hours and is trading at $292 at the time of writing
The Monero token is under the control of bulls and has seen a strong rally in the past 24 hours. The XMR token saw a huge build up in volumes at the $265 level and the whales seem to be accumulating the coin in huge quantities. The Monero coin could further rally in the short term if the bulls decide to extend the current price spike.
How & where to buy Monero in the UK and elsewhere
For purchasing Monero token, you will need to register an account on a crypto exchange/broker platform. The entire process is simple and all you need to do is provide a username, password and email address. The site will ask you to verify the account as part of the Know Your Customer (KYC) regulations. You can submit copies of your passport and utility bill to prove your identity and address respectively.
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eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
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What is Monero?
Monero focusses on privacy and allows completely anonymous transactions. Other major cryptocurrencies are pseudo-anonymous and the account can be easily traced back by mapping IP addresses. However, Monero’s advanced features make it almost impossible to trace the transacting parties which is why it is preferred by users who value anonymity.
Should I buy XMR today?
The Monero token has the potential to rise further by 10-20% if the bulls retain interest. The early holders of the XMR token could be rewarded handsomely if the coin rallies in the future.
The first target for Monero is to breach the $300 level and the coin could then target the $320 level and beyond.
This article is informational only—none of the contents should be construed as financial or investment advice.