Best Monero Trading Brokers List, Reviews & Beginners Guide 2020

Random Monero trading brokers accompany the risk of losing your cash. We finalize almost everything on BEST online Monero trading guide, brokers list & reviews in 2020.

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broker logo avatrade
Excellent

Avatrade Broker is considered as “Low-Risk Place for investors”, and they have a trust score of “93 out of 99.” They aren’t publicly traded, and they don’t own a bank as well.

  • Multi Language client support
  • 2-level partner program
  • 24/7 Trading

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logo broker fpmarkets
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With FP Markets Broker in the house, you have got the tendency to roll with more than 13 thousand trading tools. For investors, it's a safe environment to invest and get their desired results without any obstacle coming their way.

  • ASIC regulated funding
  • Offer Webtrader
  • Accept PayPal

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broker logo etoro 2
Excellent

Etoro has become one of the best places for “Investors” to experiment with their luck because they are known as a key player in the world of CFD (Contract for Difference) and “Crypto Trading.”

  • World's Leading Social Trading Platform
  • Proven Track Record of Security
  • Unlimited Daily Withdrawals

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broker logo liteforex
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According to many people, LiteForex Broker is the roadmap for many investors who were hesitating to invest heavily in the “Field of Forex” because of great initial deposits and withdrawals.

  • 1:1000 leverage on Forex Trades
  • Accept cryptocurrency
  • Offered index chart

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broker logo icmarkets
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IC Markets is now providing you more than 65 currency pairs as of now (2020) and 41 CFDs. IC Markets Broker is one of a few traders that provides you the opportunity of “Social Trading” as well with the help of the “Myfxbook” and “Zulu Trade” platform.

  • Zero fees on Deposit & Withdrawal
  • Offer Ctrader & MT5
  • Live chat 24/7

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broker logo admiralmarkets
Very Bad

Admiral Markets Broker is one of the most well-known and respected Forex Brokers. They are providing their traders with Currencies, Indices, and Commodities.

  • Negative balance Protection
  • Commission free accounts
  • Segregated client funds

Monero-Trading-DailyForexTrading.Net

Welcome to another blog post, "Everything you need to know about Monero Trading."

So, a lot of Cryptocurrencies are currently working hard to provide customers with the best privacy, income, and future scalability. 

But there are few Cryptocurrencies that still need improvement, that's why they are "giving the roadmap" to the new digital currencies to come up and rule the market with modifications and improvements. 

And guess what?

Monero Trading is one of those masterpieces that allow you to enter

    the world of digital currency without any concern of privacy

There are big giants like "Ethereum and NEO" that are focusing on providing their users with more smart contracts. Similarly, ripple is focusing on the "Transaction" thing, but the aim of "Monero Trading" is to provide you with "Top-notch" privacy that you're striving for. 

Monero Trading completely relies on the "Ring Signature" tool, and this new technology is helping the digital currency to rule the world of "Cryptocurrency."

Yes, we know "Monero" is getting all the popularity it deserves, but "How about discussing everything related to Monero Trading before investing in it?"

Trust us, this article will change your perception about "Monero Trading," and you'll end up choosing the right path. So, let's get started with everything. 

Let's break down the interesting facts about Monero Trading first. 

Interesting facts about Monero Trading

What-Is-Monero-Trading-DailyForexTrading.Net

  • Monero was introduced in the digital currency market back in April 2014. It is known as one of the forks of the well-known cryptocurrency "Cryptonote."

  • The privacy is too strong, and ain't nobody can have the knowledge of "Transactions" that are generated from your account. They are using a term for "Stealth Addresses" to help you understand that "your privacy is their foremost priority."

  • It is easy to mine as compared to "Bitcoin and Ethereum," because you don't need "High GPU's and electricity requirements."

  • According to the official website of "Monero," they have offered a job to the "Ex-Developer" of the Bitcoin to strengthen the privacy of Monero Trading. The good news is that Gregory Maxwell has accepted the proposal. 

  • They are trying hard to make "Monero" as a payment gateway, and they have succeeded in compelling 45 musicians and five retailers shop to accept their "Digital Currency" as a payment method. 

The cryptocurrency market is growing at a tremendous pace, and even US Equity Research said that the cryptocurrency market is expected to increase by 35% in 2023. And that's a piece of good news for the worldwide crypto lovers and investors. 

How can you buy a Monero coin?

Buying Monero Coins is as easy as buying "Bitcoin." Follow the steps given below, and you'll end up having "Monero Coin" in your wallet. 

  • Get yourself registered for "Monero Wallet."
  • Now, locate your Monero Address
  • It's time to go to the Kraken and sign up there
  • Deposit money through "Credit Card or Bank Account" and buy XMR
  • Withdraw your coins in the wallet
  • You're done

How to mine Monero coin in PC?

Monero-Trading-Buy&Sell-DailyForexTrading.Net

Mining the Monero coin in PC isn't a difficult task. Follow the steps given below, and that's it:

  • Insert the required video card into your PC and install the drivers
  • Head towards the official website of Minergate and open your account
  • Download the software and login to the account there
  • Maximize your Monero Mining
  • Run the miner now and make sure to have a great internet connection 
  • Now, check the progress 

That's how you mine Monero coin in PC. 

Now, as we are done with "What is Monero Trading and how it works," it's time to compare the cryptocurrency with some of the best in the market. Yes, we mean, "Bitcoin and Dash."

Are you excited? If yes, then scroll down. 

Monero vs. Bitcoin

Yeah, a lot of people are still wondering, "Is it a right call to compare Monero with Bitcoin?" You'll be amazed to know the facts and benefits of both the Cryptocurrencies.  That’s because our team is coming up with something that you're not going to find "Elsewhere."

Let's break down some key information related to Monero Trading and Bitcoin in a table:


Monero 


Bitcoin


Purpose: Providing users with "Unmatched" privacy


Purpose: Decentralized Digital Currency


Founded: 2014


Founded: 2009


Founder: Nicolas van Saberhagen


Founder: Satoshi Nakamoto


Market Cap: $6.5 Billion


Market Cap: $250 Billion


Current Price: $57.4


Current Price: $7,122


Mining Method: ASCI


Mining Method: ASCI


Initial Distribution: Mining


Initial Distribution: Mining

 

So, that was the necessary information that you need to keep in mind before we head towards the benefits of "Monero and Bitcoin." 

If you're comfortable enough to read the benefits, then why die wondering? Scroll down and check everything out. 


Benefits of Monero Trading

Monero-Trading-Benefits-DailyForexTrading.Net

There are a lot of benefits that Monero is providing to you, but let's break down the mainstream ones first. 

  • Monero is Secure: Just like Bitcoin, Monero is a decentralized cryptocurrency aiming to provide you the facility of transferring the digital currency from one part of the world without dealing with the third party. 

  • Monero is Private: As mentioned above, Monero is using a ring signature tool so that your "Transactions" remain confidential, and even the receiving person "Shouldn't" know who has transferred the funds. In short,* you'll have no records of transactions.

  • Monero has a bright future: According to the US Researchers of Cryptocurrencies, Monero will witness a hike of 32% in demand.

  • Monero is untraceable: Sending and receiving of money isn't traceable because transactions are always "Blur" by default. You can't link the transactions with any of the user online or real-world entity.

  • Monero is all you need: With so many features and strong privacy, Monero is all you need because it is going to be the next big thing in the coming days. 

So, these are the benefits that "Monero Trading" is providing to you. Now, it's time to talk about the "disadvantage of Monero Trading". 


Disadvantages of Monero Trading

Every good thing has cons, and that’s why we are listing down the disadvantages of “Monero Trading” to keep everything unbiased. Let’s get started!

  • Privacy: Yes, it’s true that Monero is working extremely hard on the “Privacy” thing, but there are still privacy concerns that they need to work on. Hackers tried to attack Monero, and they got to know the exact “origin” of the origin history. So, they have to work on “Privacy” to make everything perfect. 

  • No Phone Wallet: Yes, it might be surprising for you, but the truth is, “it’s difficult to use on the phone.” Right now, you’ve only options to see “your graph, transactions, and keys,” and you can’t transfer funds from one place to another. 

  • Transaction size: The transaction size is smaller as compared to other “Cryptocurrencies,” and you can’t send “Bulk Amount” at once as you do in “Bitcoin, Litecoin and Ethereum.”

  • Limited Use: Investors aren’t aware of the great “cryptocurrency” Monero, and that’s why you can’t compare it with Bitcoin when it comes to adoption rate. 


Benefits of Bitcoin

A lot of people have a piece of knowledge about "Bitcoin," but we are breaking down the benefits to enlighten some of the newbies here. Here are the benefits of "Bitcoin."

  • It provides you greater liquidity when comparing with other Cryptocurrencies
  • A lot of companies now accept "Bitcoin" as a payment method to buy physical items or online shopping
  • Bitcoin has made international transactions easier than regular ways such as; Banks, Western Union, and other payment gateways
  • It generally has a low transaction fee
  • It provides you great privacy and Anonymity when compared with "Regular Currency."

Let's now head towards the conclusion. 


Disadvantages of Bitcoin

It will be “injustice” with Monero Trading if we skip the part of writing cons about “Bitcoin.” Let’s talk about it. 

  • You can’t rely on the privacy of “Bitcoin” because Bitcoin has been in the headlines for getting “Frauds and scams.” So, you’ll have to be very careful when sending and receiving funds. 

  • The black-market is using “Bitcoin” for sending/receiving money because no-one will ask you for “Where did this money come from.” The reputation of Bitcoin has been damaged because of the Black money and market. 

  • In case of any scam or fraud, the Bitcoin authorities aren’t responsible. You won’t get any chargeback or refund in case of scam. 


final words

Both the Cryptocurrencies are using the same methods of "mining the coin," but differences start to look up when you head towards the "Privacy" thing. Honestly, Monero Trading provides you with "Better and Best Privacy." But, the choice is absolutely yours. You can choose any of them by "Looking at your budget."

Now, let's move to the comparison between "Monero and Dash." Let's get started!

Monero vs. Dash

We have explained a lot of Monero Trading above, and it's time to write only about "Dash Trading" because people are asking about this comparison, "Crazily." So, here are the benefits of Dash. 


Benefits of Dash

  • Security: Dash is using one of the best securities in the world for your money. With more than 4500 servers and 200 Terra Hash of X11 ASCI, your transactions are secured than any other platform. 

  • Speed: Dash is using the "InstantX" method to transfer your money, and it takes you around four seconds to perform one transaction. 

  • Low Transaction Fees: Yes, you can now enjoy the lowest transaction fee ever from a "Digital Currency Platform," and the amount they deduct is cheaper than "PayPal, Payoneer, and Moneygram."

  • Popularity: People talk a lot of Dash Coins nowadays, and if you doubt our statement, then you can simply head towards "Bitcoin Talk" and see the latest trends, Hashtag and the hottest topic. 


Disadvantages of Dash

There are a few disadvantages of “Dash” that you should go through before investing in “Dash Trading.” Let’s rock and roll!

  • According to many people, no one can break the “privacy” of Dash because Dash is private. But that’s not the case. Dash simply tricks the transaction by using “Master Nodes.” People who have a great knowledge of “Crypto,” and they know hacking can easily trace down the “transaction details.”

  • There are many marketing companies and tools that are involved in “Promoting Dash,” but still, the numbers of users are limited when compared with big giants like “Bitcoin.” 

So, what do you think about Dash Trading and Monero Trading? Do let us know in the comment section. But, before you leave this place, how about discussing some "Frequently Asked Questions" related to "Monero Trading." 

Let's break every question one by one. 

faq - beginners monero trading

Frequently asked questions related to "Monero Trading" are listed below. 


Ø  What is Monero used for?

As discussed above, Monero is used for transferring digital currency from end to another end with brilliant privacy, decentralization, and Fungibility.

You can use Monero as a payment option in the US because a lot of grocery stores, musician websites, and online stores are accepting it as a payment gateway. It is going to be an extremely big thing in the coming future. 


Ø  Is Monero a good investment in the future?

Yes, Monero is a great future investment because the demand for "Monero" is going to be 32% more than it is now in 2023. So, if you're eyeing on "Long-Term" investment with profit, then Monero trading is the way to go. 

You can contact us for the proper guidance. 


Ø  Is Monero illegal?

Every country is raising questions on "Digital Currency" because it's being used for many purposes like; mining malware, dark web purchases, and money laundering. This is why there are a few countries in the world that are "Banning" some of the Cryptocurrencies to avoid such acts. 


Ø  How much is Monero coin worth?

The current price of the Monero coin is "$54.88." You're going to witness the price going upwards in a year or two because "Monero Coin" had already touched $400 in the year 2017. So, the team is working really hard to make this possible again and allow the investors to enjoy the profits. 


Ø  Can I withdraw money from Monero?

Yes, you can easily withdraw money from Monero to your account by heading towards the bitcoin exchanger platform and convert your "XMR" into USD. After converting, enter the details of your bank account, and by clicking on the transfer button, you'll end up getting all the money in your account. 

Note* You can withdraw your money in your PayPal account as well. 


Ø  Can you make money mining, Monero?

You can go to "Monero Mining" without thinking twice because it is extremely a profitable ask. You can earn about 5-10 dollars a day (completely depends on your system). 


Ø  How much does it cost to mine, Monero?

Mining Monero is easy if you've got a great budget. It will cost you around $600-1000 for an ASCI. That's why a lot of people don't go for mining "Bitcoin and Monero."

But, a lot of professionals still choose "Monero and Bitcoin" for their mining because it is benefiting them. 


Ø  Is mining Monero profitable in 2020?

Yes, mining Monero is profitable, and you can earn a handsome amount by mining it in the year 2020 as well. 


Ø  How much Monero can you mine in a day?

You can mine up-to 1 Monero Coin a day, but that would cost you more electricity bills. But, if you've no problems handling the electricity bills and you've great CPU's, then there's no one stopping you. 

The formula of mining Monero is n=(Network Hash Rate) / (720* Average Block Reward)

Note* You can't mine Monero Coin in Mobile. 


Ø  Is Monero a fork of Bitcoin?

Yes, Monero is a fork of "Bitcoin," and Monero became the fork of "Bitcoin" in the year 2014. A fork occurs when the original version of the "Cryptocurrency" splits into two versions after the new update. 


Ø  Is Monero a good buy?

Yes, Monero is always a good buy because it provides the users with the privacy they are always wondering about. However, the current price of "Monero" is $55, and it is expected to touch "$500" in the coming 3-4 years. So, buy it now to avail of the profits in the future. 

So, that's all from the topic "Everything you need to know about Monero Trading," and if you've any question in mind rolling, then why die wondering?

Ask us, straightaway.

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