Buying Monero is an investment that comes with significant risk. While XMR trading experienced immense highs, it is also fallen to devastating lows. Here is how to buy Monero (XMR))
Table of Contents
- Where to Buy Monero (XMR coin)
- How to buy Monero (XMR)
- When to buy Monero (XMRUSD)
- In conclusion, should you Buy Monero or not?
Monero (XMR), an open-source cryptocurrency, was launched in 2014 and has been recognized for its high anonymity. Monero is very similar to Bitcoin but has a distinct feature: privacy.
Monero distinguishes itself by keeping its transactions secret and undetectable. Monero's blockchain hides transaction details such as the identity of the trader and the amount. It is a truly anonymous cryptocurrency.
Despite some skepticism about XMR's privacy features, it is still a top cryptocurrency due to its market capitalization of $5 billion. Monero currently has 18 million XMR.
Monero uses a proof-of-work consensus mechanism. This consensus mechanism requires computational power to create blocks on the network. Using their CPU or GPU, any miner can mine XMR.
Monero developers believe in an egalitarian model and believe that all people should have equal opportunities. That’s why, the Monero network mining does not support ASICs, the special hardware equipment that is used to mine Bitcoin. All miners, regardless of the equipment used, can participate in the mining process. This also helps with the decentralization of the network.
Monero is a truly fungible cryptocurrency. This means that if one XMR is exchanged for another, the exact value is received and there is no difference.
Bitcoin is also fungible. However, it allows anyone to track coins. Some services don't accept as payment coins that have been used in fraud, gambling, theft, or other criminal activity.
Unlike Bitcoin, Monero does not allow anyone to track the transaction history of the coin. This special feature makes Monero ideal for anonymous and quick transactions.
Monero allows businesses to keep private account information secure. An increasing number of financial crimes are occurring every day. Malicious individuals could use the information from simple financial transactions to their advantage. This is a legitimate use case for businesses since it helps to keep their data private.
Privacy is important for individuals, and not only businesses. Big data mining companies like Facebook can make it easy for you to disclose your financial and spending data.
As crypto exchanges have become more accessible and the XMRUSD price has risen, more people have begun to invest in cryptocurrency. Monero trading is allowing a great transfer of wealth and even new investors can hope to profit from its fast growth and earn higher returns than they would on the stock market.
With so much attention from the media and financial traders, new cryptocurrency investors are always looking for advantageous ways (platforms) to buy Monero (XMR) online. Luckily, there are numerous services and guides on how to buy Monero to help you get started in the cryptocurrency market.
Where to Buy Monero (XMR coin)
There are two ways cryptocurrency investors can choose when searching how to buy Monero (XMR) online:
- Cryptocurrency exchange
- Online Brokers
Crypto exchanges might be a good option for holding your funds, especially if you plan to withdraw them to a private wallet.
Online brokers are another great option where to buy Monero (XMR), which is increasing in popularity lately due to ease of trading, fast transaction, and greater control over the digital assets in your portfolio.
When you use a broker platform, you gain access to a comprehensive feature set that will assist you in more precisely calculating your strategies and risks. As a result, you will be able to add more indicators to the chart and use the built-in technical analysis tools. However, unlike an exchange, the broker platform will not provide you with the same large offer of cryptos to trade.
Additionally, global brokers like CAPEX also provide a few options to indirectly invest in Monero and other cryptocurrencies: cryptocurrency Exchange-Traded-Funds (ETFs) and companies connected to cryptocurrencies (crypto stocks).
Buying Monero (XMR) over an exchange
If you want to participate in a crypto project development and own the digital asset, you can buy Monero (XMR) online through a cryptocurrency exchange, such as Binance, Kraken, Bittrex, or Coinbase, and store it in a digital wallet.
Having an account on a cryptocurrency exchange allows you to send and receive Monero (XMR). Transferring Monero is like the way traditional bank transfers work, except for the bank account address, which is replaced with a Monero address. Because digital currency is transmitted directly between individuals without needing third-party entities, such as banks, transaction fees are cheaper than those charged by traditional institutions.
If you want to hold your crypto for a longer time, it is advised to transfer them from the crypto exchange to a secure cryptocurrency wallet. Wallets are much safer, and each private crypto wallet has a private key. It is critical to keep your private key safe because you won't be able to access your crypto without it, and if it's easily available, your funds could be stolen.
Buying Monero (XMR) through an exchange is for those who want to use it for day trading or purchasing crypto to transfer to a wallet. When you’re buying Monero (XMR) through a cryptocurrency exchange, you own the digital asset, and you can transfer it to a crypto wallet or do whatever you wish with it. If the price of Monero rises, then the value of your portfolio goes up as well. But if the price of Monero (XMR) falls, then the value of your portfolio falls, while the amount of Monero (XMR) remains the same.
Here are the main drawbacks when buying Monero (XMR) through a cryptocurrency exchange:
- Cryptocurrency exchanges may not be regulated in your country and offer little to no protection for investors.
- The matching engines and servers on Monero (XMR) exchanges are often unreliable, leading to the inability to access your account and control your funds.
- Cryptocurrency exchanges have many restrictions and limitations for their services, including transaction fees, withdrawal fees, and imposing minimum amounts for funding and withdrawing funds.
The good news is that investors can limit the risks presented by the crypto exchange by trading Monero (XMR) with contracts for difference (CFDs). Monero (XMR) CFDs allow you to speculate on the price of the cryptocurrency without having to own the digital asset.
Read on if you want to learn to trade Monero with capex.com in the most convenient way.
Buying Monero (XMR) with an Online Broker
Trading Monero (XMR) with an online broker like CAPEX means that instead of owning Monero outright, you’ll be speculating on its price with CFDs.
The main difference between buying Monero (XMR) from an exchange and buying Monero (XMR) from an online broker is that you don’t own Monero (XMR) when you use a broker. Owning crypto requires investors to have a crypto wallet, either within the exchange or a private wallet. But when you purchase Monero (XMR) CFDs using an online broker, the CFDs are stored in your account and are far more liquid, which makes trading CFDs more popular. Unlike cryptocurrency exchanges, online CFDs brokers are regulated by financial authorities.
The Alternative Way to Invest in Monero (XMR)
Trading CFDs is a process of buying or selling CFDs and can generate a profit if the value of the asset moves in the direction of the investor’s prediction, or a loss if the market goes against him.
You can buy Monero CFDs (go long) if you believe the value of the digital asset will increase.
At the same time, you can “go short” if you believe that the price of the underlying asset, in this case, Monero (XMR), will decrease, by selling CFDs.
Trading CFDs provides leverage, and you can open your position by depositing only a margin.
For example, if a trader wants to buy 100 Monero CFD at $230 would only require $11.500 of trading capital.
It’s important to remember that leverage can increase both your profits and your losses, and they will be based on the full exposure of the trade, not just the margin requirement needed to open it. Potential losses, as well as profits, could exceed your margin.
Concisely, if you choose to trade crypto CFDs, you can profit from the difference between the buying and the selling position.
With CAPEX, you can trade CFDs on futures or spot prices. Trading CFDs on futures gives you exposure to the futures market, but without requiring you to take on any obligations or worry about any of the other nuances that are associated with futures trading.
Buy Monero XMR CFDs - Go Long
Instead of taking ownership of Monero, you can place a ‘long position’ translates to buying Monero CFDs. Your position, or Monero CFDs, will increase in value according to the increase in the price of the digital asset Monero’s price increases. If the price of Monero falls, then your position will lose value and can lead to loss.
Let’s assume that Monero is trading at a sell/buy price of 230.00/231.00 USD. You want to buy 100 CFD (units) because you think the price of Monero will go up. Monero has a 1:2 leverage or a margin rate of 50%, which means that you must deposit only 50% of the position’s value as position margin.
In this example, your CFD position margin will be $11,550 (50% x (100 units x $231 buy price)). Losses greater than the margin can occur if the price of Monero moves against your position.
Outcome A: a profitable trade
If your prediction was correct, and the price of Monero surges over the next hours or days, then you have made a profitable trade. If the sell/buy price is 281.00/282.00 USD when you decide to close your position by selling at 281.00 (the new sell price), then your profit will be $5,000.
The price has moved $50 (281 - 231) in your favor. Multiply this by the size of your position (100 units) to calculate your gross profit which is $5,000.
If the position was closed during the day, there will not be any swap charges and the net profit is $5,000.
If the position was closed after a few days, there will be swap charges according to the overnight rollover specification, in this case, -0.0563%.
Let us assume the position was closed the next day, the overnight swap calculation formula will be:
- Overnight swap = 100 (units) x $255 (price at rollover) x 0.0563% x 1 (days) = $14.35
Therefore, your total profit on Monero CFD is your gross profit plus the rollover cost.
- $5,000 - $14.35 = $438.19 net profit
Outcome B: a losing trade
If your prediction for the price of Monero was wrong, the Monero CFD trade will result in a loss. Let’s assume that the price of Monero drops over the next hour to a sell/buy price of $215.50/216.50. Because you want to limit the loss in the eventuality that the price continues to drop, you can sell at $215.50 (the new sell price) to close the position.
The price has moved $0.1 (1.60-1.50) against you. Multiply this by the size of your position (2000 units) to calculate your loss, which is $200.
Sell Monero XMR CFDs - Go Short
In this CFD example, Monero is trading at a sell/buy price of 230.00/231.00 USD. Assume you want to sell 50 CFDs (units) because you think the price will go down. Monero has a 1:2 leverage or a margin rate of 50%, which means that you only must deposit 50% of the position’s value as position margin.
In this example, your CFD position margin will be $5,750 (50% x (50 units x 230 sell price)). Remember that if the price moves against you, it is possible to lose more than your initial position margin of $5,750.
Outcome A: a profitable trade
Your prediction was correct, and the price falls over the next 2 days to a sell/buy price of 200.00/201.00 USD. You decide to close your trade by buying back at $1.43 (the new buy price).
The price has moved $29 (230.00-201.00) in your favor. Multiply this by the size of your position (50 units) to calculate your profit, which is $1,450 gross.
Let us assume the position was closed after 2 days, the overnight swap calculation formula will be:
- Overnight swap = 50 (units) x 213.00 (average price at rollover) x 0.0118% x 2 (days) = $2.51
Therefore, your total profit on Monero CFD is your gross profit plus the rollover cost.
- $1,450 + $2.52 = €1,452.52 net profit
Outcome B: a losing trade
Unfortunately, your prediction was wrong, and the price of Monero XMR rises over the next hour to a sell/buy price of $250.00/251.00. You feel the price is likely to continue up, so to limit your potential loss you decide to buy at $1.70 (the new buy price) to close the position.
The price has moved $21 (251-230) against you. Multiply this by the size of your position (50 units) to calculate your loss, which is $1050.
If you are not ready to trade CFDs at spot or futures prices yet, we have also got educational resources like CAPEX Academy with free courses on how to trade. Plus, we offer a demo account – giving you $50,000 in virtual funds to build your confidence in a risk-free environment.
Investing in Monero without actually buying Monero
While buying and day trading cryptocurrency is a major trend right now, it is important to remember that cryptocurrencies are a volatile and risky investment choice. If investing in crypto on an exchange or via a broker does not feel like the right choice for you, here are a few options to indirectly invest in Monero and other cryptocurrencies:
Exchange-Traded Funds - Crypto ETFs
Exchange-traded funds (ETFs) are popular investment tools that allow investors to buy exposure to hundreds of individual investments in bulk. That is why ETFs are a means of diversification for your portfolio and as less risky than investing in individual investments.
A crypto ETF allows investors to trade cryptocurrency on a traditional market and eliminates the need to trade the asset on a crypto exchange. Another advantage of trading crypto ETFs is that investors do not have to worry about the security aspects of trading crypto.
US investors can enter the crypto market by using ProShares Bitcoin Strategy ETF (BITO). The Fund provides capital appreciation through managed exposure to bitcoin futures contracts.
A Monero ETF could come in 2022. The approval of a Bitcoin ETF means a similar offering for Monero is imminent.
>> Learn what is an ETF and how does it work
Companies Connected to Monero and Cryptocurrency - Monero Stocks
Another option is to invest in cryptocurrency indirectly by investing and buying shares of companies that offer real-life products and services but still use or own cryptocurrencies as part of their business model (known as Monero stocks). With an all-in-one trading account with CAPEX, you can also trade shares CFD of public companies like:
- Nvidia (NVDA). This technology company builds and sells GPUs, which are the main equipment needed to mine cryptocurrency, including Monero. Learn how to buy Nvidia shares
- MicroStrategy (MSTR). This is a software company with more than 40% of its market valuation invested in Bitcoin (BTC). Learn how to buy MicroStrategy shares
- Square (SQ). Since October 2020, Square has purchased over $220 million worth of Bitcoin. As of February 2021, this payment services provider stated that 5% of its cash is stored in Bitcoin. They allow clients to trade crypto. Learn how to buy Square shares
- Coinbase (COIN). Coinbase is one of the most popular cryptocurrency exchanges for beginner investors and it allows consumers, financial institutions, and businesses to transact between fiat and cryptocurrencies and securely store and use cryptocurrencies. Learn how to buy Coinbase shares
- Tesla (TSLA). Tesla is an electric vehicle manufacturer, has always been a staunch supporter of digital currencies and started accepting cryptocurrency as payment. Learn how to buy Tesla shares
- CME Group (CME). CME is a financial derivatives exchange that offers trades in cryptocurrencies as well. In Q3 2021, the company reported a 14% year-over-year increase in its average daily volume (ADV) at 17.8 million contracts. Learn how to buy CME shares
>> Learn more about stock investing
How to buy Monero (XMR)
Are you wondering how to buy Monero with CFDs? CAPEX offers XMR trading via CFDs on Monero USD spot prices to speculate on the value of XMR against the most popular currency, as well as the brand-new PRO Shares Bitcoin Strategy ETF. Here are the steps:
Step 1: Create an account and deposit funds
When you trade on cryptocurrencies, instead of purchasing Monero and other popular digital currencies, you can be ready to open a position much faster. You do not need a digital wallet or an account with an exchange. In fact, all you need to trade via CFDs is an account with a leveraged trading provider.
With CAPEX, you can open an account in minutes, and there is no obligation to add funds until you want to place a trade.
When you create a trading account with CAPEX, you will be able to:
- ‘Buy’ (go long) or ‘sell’ (go short) Monero and other popular cryptocurrencies to speculate on their price rising or falling
- Take a position on our range of ETFs to get exposure to a basket of shares from an entire country, index, or sector that could be rising or falling in price.
- Trade a host of global indices to go long or short on the performance of an entire economy with a single trade.
- Use QuantX, the smart portfolio builder that helps you cover the popular industries and only invest in the top-performing stocks.
Step 2: Choose your Crypto trading platform
Our trading platforms can provide you with a smarter and faster way to trade Monero CFDs – with personalized alerts, interactive charts, trading signals, and built-in risk management tools. You can trade via the CAPEX trading platform using:
CAPEX Web Trader
Trade on one of the most complete, fully customizable trading platforms on the market.
Available on desktop (Windows, Mac) and mobile (Android, iOS), it provides intuitive, web-based access to a vast range of tradable instruments, charting tools, analytical tools, and many more features.
To view Monero's real-time price and chart on the trading platform can click on the "Search" icon located in the left panel or by clicking on "Cryptocurrency" and then select the instrument, in this case, Monero (XMR).
MetaTrader 5, one of the best crypto trading apps, is providing superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robots, Expert Advisor), and copy trading.
MetaTrader 5 is available on both desktop and mobile.
Step 3: Pick up a Monero trading strategy
Learning how to buy Monero is easy but adopting the right Monero trading strategy is essential to time the market.
The main Monero trading strategies are:
Buy and hold, also called position trading, is an investment strategy whereby an investor buys Monero to hold them long term, with the goal of realizing price appreciation, despite volatility.
Traders take a position according to the main trend (months to years). You can “go long” if Monero is in a bullish trend or “go short” if the Monero trend is bearish. If the major trend starts to slow or reverse, you will think about closing your position and opening a new one to match the emerging Monero trend.
All trades are performed during the day. There are no open positions overnight, though no rollover charges. Traders are looking to profit from Monero’s short-term price movements (including scalping), and it can enable them to make the most of daily volatility in bitcoin’s price.
When you hedge Monero, it means that you use CFDs to counteract the Monero price movement you already own. For example, if you owned some Monero but were concerned about a short-term drop in their value, you could open a short position on Monero with CFDs. If the Monero price falls, the gains on your short position would offset some or all the losses on the coins you own.
Following the chart patterns and general trends can give you a hint to where Monero is going.
Step 4: Set your Monero orders
A trade order is an agreement to buy or sell a specific asset like Monero at a specific price or price range.
To buy Monero CFD with CAPEX, click on the "Buy" button and a window is displayed to configure the purchase order. You can choose among Market, Limit, and Stop orders.
Additionally, you can pre-define Stop Loss and Take profit orders, which are crucial risk management tools – that help you minimize the potential loss and maximize the potential gains.
How to buy Monero with Market Orders
The simplest type of trade order is a market order. Market orders are usually placed by traders if they want to be certain trade is executed. A market order is instant. Therefore, it is simply an order placed by a trader to buy or sell Monero immediately at whatever its current price is.
I want to buy 200 Monero (XMR) right now or as quickly as possible.
How to buy Monero with Limit Orders
While a market order is simply an order placed by traders to buy or sell an asset immediately at whatever the current price, a limit order in its most basic sense, is an order to buy or sell an asset at a specific price. Buy limit orders are placed above key support levels with the purpose of limiting price risks anticipating the uptrend will resume after a correction (buy the dip).
The price for XMR/USD is currently at USD 230.00 and you place a buy limit order at USD 210.00, then your order is meant to execute at the price of USD 210.00 as soon as there is a matching sell order at this price or better.
How to buy Monero with Stop Orders
A stop order is an order that becomes a market order only once a specified price is reached. It can be used to enter a new position or to exit an existing one. Limit orders are placed above key resistance levels anticipating a breakout after a consolidation.
The price for XMR/USD is currently at USD 230.00 and you place a buy stop order at USD 250.00, then your order is meant to become market at the price of USD 250.00 as soon as the price is reached.
Step 5: Monitor and close your Monero position
To open a Monero trade, you’d buy if you thought that the price was going to rise or sell if you thought the price was going to fall. Once your trade is open, you’ll need to monitor the market to make sure that it’s moving in the way you anticipated.
The technical indicators available on our trading platform can help you to determine what Monero’s price might do next. Indicators can also help you monitor current market conditions like volatility levels or market sentiment.
CAPEX WebTrader can deliver an in-depth analysis of the charts and offers over 90 indicators (including moving average, MACD, RSI, and Bollinger Bands). The WebTrader platform also supports an interactive trading activity with high-end research tools helping you interpret market data.
Take Profit & Stop Loss
Traders can close a position immediately to take a profit or to cut a loss. You can use market order or set Stop Loss and Take Profit levels when you set the order to buy Monero.
The platform offers the stop-loss option, which lets you clearly state how much you're willing to risk with your trade. Similarly, the take profit is the exact opposite. It tells your broker how much you expect to make as a profit and when you want to close your position.
Any profits you make will be paid directly into your trading account. Losses are deducted from your account balance.
When to buy Monero (XMRUSD)
Investors should be aware of the fundamental and technical analysis when deciding when to buy Monero. The fundamental analysis considers the news and events about the coins, exchanges, and other crypto businesses. The technical analysis uses the price value history to map the evolution of the supply and demand for Monero.
Monero Price Prediction using Fundamentals
When using the fundamental analysis approach, investors should be aware of the government regulation, latest cryptocurrency updates, and technical issues, as well as cryptocurrency exchanges that affect the supply and demand for cryptocurrencies.
For instance, when Bitcoin CME was introduced into the government regulations, and it drove the price of Bitcoin to almost $20,000 in December 2017.
An accurate Monero price forecast using fundamental analysis considers the three main aspects:
- Blockchain metrics (hash rate, active addresses, transactions fees, and values)
- Financial (market capitalization, liquidity, trading volume, circulating supply)
- Project overview (team’s background, whitepaper, competitors, roadmap, tokenomics)
>> Learn how to forecast Monero price with fundamental analysis
What is the future of Monero?
Kraken, a US-based digital currency trading platform has announced that it will delist Monero coin, XMR by November 31st. Meanwhile, the Indian government has proposed a bill to ban all private cryptocurrencies in India.
Regulators and governments are worried about Monero's privacy-focused approach and the inability to track its transactions.
XMR's value had fallen as much as half off its April high. Its price dropped due to widespread selling across cryptocurrency markets. It has fluctuated between $170 to $340 since then. It has managed to retain a positive 55% increase on the year, at $242 (25 Nov).
Monero's original protocol was CryptoNote. This protocol uses ring signatures to hide the origin and destination transactions on the blockchain. To hide transaction amounts, Ring Confidential Transactions were implemented by the developers in January 2017. A new type of ring signature was introduced, a multilayered linkable spontaneous anonym group' (MLSAG). This signature hides transaction details efficiently and uses trustless, verifiable coin generation.
Monero's October 2020 upgrade replaced MLSAG by the concise linking able spontaneous anonymous group' (CLSAG) signature. This increases transaction verification speed by about 20% and reduces the transaction size by around 25%.
Crypto Tony is a trader who has a large following and is positive about the coin’s bullish potential.
Justin Ehrenhofer is a regulatory compliance analyst at DV Trading. He doesn't give specific numbers. He does however draw a comparison between Monero's close competitor Zcash. Monero clearly leads in terms of transaction volume.
Monero Trader sets very high expectations for Monero, pointing at a staggering $4,000. He may not be the only one who is calling for such an appreciation.
It’s important to remember that Monero has a smaller circulating supply than Bitcoin's. This could give it better investment prospects. Monero is a great investment option, especially when you consider the anonymity of its users.
Because is difficult to analyze the intrinsic value of a cryptocurrency, it is recommended you perform a technical analysis before investing in Monero CFDs. It might offer some insight into the past movements of Monero, helping you predict where it will head in the future.
Monero price prediction using technical analysis
Some believe the high concentration of retail traders makes cryptos truer to traditional chart patterns and indications of oversold, overbought conditions, etc.
Technical analysis techniques can be applied to any market where the price can freely fluctuate, and data is available to see those fluctuations. The CAPEX Web Trader has a full suite of all the best-known technical indicators and chart drawing tools.
>> Learn how to forecast Monero price with technical analysis
Monero Forecast 2022
We can see a very encouraging picture for the 2022 Monero price prediction. Although Monero is not yet at its highest mark, there are still significant improvements.
When 2021 started, Monero (XMR) was $156.57. It then surged to a record $517.62 on May 7, surpassing the $495.84 all-time high reached in the cryptocurrency bull run in January 2018. In line with the lower prices of other cryptocurrency markets, the Monero coin (XMR) had reached its lowest point at $39 in March 2020.
Monero's price has fallen in November 2021, as cryptocurrencies plummeted from recent highs. It dropped from $341.26 on May 18 to a low $153.37 on May 19. It bounced back up to $310 on 21 May, only to drop to $240 by the 24th. It was at $242 by 25 November.
XMRUSD real-time price chart shows 3 key levels: short-term support at 217.50-218.00, short-term resistance at 250.00-251.00, and medium-term resistance at 295.00 tested 3 times later in 2021.
A positive Monero outlook 2022 requires a breakout above $250.00. Monero is attractive for range traders that seek to buy at support and sell at resistance and vice versa if they use CFD. Remember that with CFD trading you can sell high and buy low in order to profit from the decline in the price of the underlying asset, Monero, or any other cryptocurrency.
According to Wallet Investor, the price of the cryptocurrency could rise to $298.1 by the end of 2021 and then to $446.8, in 2022. It predicts that it will trade at $980.18 by 2026.
Similar trends are predicted by the Monero forecast from Digitalcoin. The XMR price is expected to reach an average of $364.4 by the end of 2021 and $404.33 by 2022. It will then rise above $1000 to an average of $964.18 by 2027. The price could reach $1,025.32 by 2029, according to the company.
It’s important to remember that Monero has a limited supply. By May 2022, the network will mine the entire 18,4 million Monero total supply.
There are currently close to 18,000,000 XMR in circulation. All of these were given to miners to encourage them to support the network. The mining reward will drop to 0.6 XMR per block after May 2022 and it will become a fixed reward.
Miners will not lose their motivation if XMR's value stays high or grows. They might actually become more active and help to strengthen the security of the network.
What Moves Monero Price
The most important aspects that can influence the Monero price are:
- Total supply
- Rules and regulations
Monero’s price corresponds to the current supply and demand in the crypto space. Considering Monero has a fixed maximum supply of 18,4 million XMR, it is a digital asset that will experience scarcity as more investors join the Monero trading market.
An important aspect of what moves the price of Monero is the news.
When the Monero Project announced the rollout for the Atomic Swap implementation ─ which was developed by the cross-blockchain protocol COMIT Network ─ the price of Monero has seen a significant rise. It rose from $265, at the start of the week, to a peak of $331.
In conclusion, should you Buy Monero or not?
As with any investment, make sure you carefully assess your financial situation before investing in cryptocurrency, Monero, and the stock market. Monero can be extremely volatile—a single tweet can make its price plummet—as cryptocurrencies are still a highly speculative investment. Follow the already famous crypto investment phrase — "invest only what you can afford to lose".
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