1. What is Monero (XMR)?

Launched in April 2014, Monero (XMR) is an open source cryptocurrency with its XMR token and was created to offer a greater degree of privacy compared to most cryptocurrencies such as Bitcoin, which relies on its outstanding feature of being anonymous and not traceable.

Monero has reached its biggest appreciation of 109.64% of year 2020 in February and is going through adjustments towards an upward trend.

2. What are the advantages of Monero (XMR)?

With its exclusive anonymity mechanism: ring signature, ring confidential transactions (RingCTs) and stealth addresses, each element of a transaction that occurs on the Monero network becomes masked and indistinguishable from those of other transactions, including the wallet address and IP address of sender, the amount of coins transferred and the recipient's address.

Similar to Bitcoin, Monero also adopts the proof of work to create the new currencies. However, its mining algorithm CryptoNight is more efficient than the SHA-256 used by Bitcoin and allows it to be processed on standard computers in a profitable way, which quickly made the coin become a popular choice for browser mining.

As governments and taxation authorities have increasingly put pressures on public blockchains, undoubtedly cryptocurrencies that focus on privacy and anonymity such as Monero will gain even more space to grow.

3. How to buy and sell Monero on NovaDAX

After you register in NovaDAX, you can start to buy and sell Monero quickly and easily!

Decide the fiat or crypto currency amount your want to deposit, such as Ethereum (ETH), Ripple (XRP) and Stellar (XLM), then go to the Deposit and Withdraw page in the main menu.

Follow the step by step to create a deposit order. For information about approval deadlines, CLICK HERE.

Click on the PRODUCTS option at top menu bar to trade Monero with BRL or Crypto-Crypto exchange.