Monero is a popular cryptocurrency that allows users to execute their transactions completely anonymously. What is an advantage, however, can also be a disadvantage. Monero and other privacy coins can’t be regulated.
Privacy coins are an advancement of digital forms of money like Bitcoin. Bitcoin exchanges are mysterious as in the proprietor of every wallet is unknown, yet every exchange is communicated openly and visible to all on the public ledger. This implies all exchanges for a given wallet can be seen and inspected. Hence, if someone’s identity is connected to a Bitcoin wallet address then anonymity is bargained.
However, companies like eToro are subject to regulation, they must be careful to act by the rules, otherwise, they face heavy penalties. For example, on 8th August Coinbase UK removed the Privacy coin Zcash from the list. There was no concrete reason for this. It is speculated that it happened because of pressure from the tax authorities. Among other things, the British tax authority HMRC should also have asked eToro to provide some user data. For this reason, many trading platforms do not have privacy coins in their range and it is unlikely that anything will change in the short term.
Buy Monero on other platforms
For many other cryptocurrencies such as Ripple, stocks and commodities you can use eToro, unfortunately not for Monero. Here you can register with eToro . If you want to buy Monero you can use Binance.
eToro is a multi-asset platform offering equity and cryptocurrency investments and CFD trading.
CFDs are complex financial instruments. Because of the leverage they carry a high risk of losing money quickly. 66% of private investor accounts lose money when trading CFDs with this provider. Please note that you should be informed in advance about the risks of CFD trading as high losses can not be ruled out.
Cryptocurrencies are unregulated and their prices can vary widely. Therefore, cryptocurrencies are not suitable for all investors. The trading of cryptocurrencies is not subject to any supervision by the EU regulatory authorities. Your capital is exposed to risks.
These notes are for educational purposes only and should not be construed as investment advice
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Follow us on Social Media and subscribe to our free crypto newsletter!
Diskutiere mit uns!
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from Altcoin
Decentraland - the fully decentralized virtual world will go online on Feb 20 for the sims-like virtual reality experience on …
Tron founder Justin Sun got himself involved again into yet another controversy as he posted a “well wishes” message for …