Monero was created in 2014 as a Bytecoin fork. The main emphasis was on the privacy and security of user data. Even today, Monero is considered one of the most anonymous cryptocurrencies.
How to trade Monero
Monero is one of most sensitive to news events coins. The more significant are events, the stronger the price will react after publication. Digital currencies capitalization is significantly smaller compared to traditional financial markets, which is why there is a lot of price volatility. There is also a strong correlation between the rates of Monero and Bitcoin.
To analyze the price behavior, Tradingview charts are the best, providing all the necessary tools for trading cryptocurrencies. In fact, any of these indicators is quite effective on its own, but if you combine them, you can get better results.
Monero is traded on many crypto exchanges, among which Binance and Poloniex are particularly popular, combining high liquidity and a large number of trading pairs. Trade-mate.io service is developed for convenience, providing a variety of tools to facilitate trading: smart trade with trailing mechanisms, autotrade and Tradingview charts. Users can trade on several exchanges at once. Recently, the service connected the BitMEX exchange, and now trading with leverage up to X25 is available.
As you can see on the chart, the rate of Monero can vary from $52 to $57 within one day. Such price volatility allows trading on hourly and even minute timeframes. Another remarkable feature of the coin is the almost complete absence of flat. During the trend period, Monero has a small volatility, but as the movement equalizes, the volatility begins to grow, which allows you to extract large profits on fast trades.
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