BTSE, a UAE licensed cryptocurrency exchange, today announced it now supports Monero (XMR) spot trading. Monero is the largest privacy coin by market capitalization with an active developer community.
With the Monero listing on BTSE, users can now trade XMR with or for bitcoin (BTC), litecoin (LTC), ethereum (ETH), USDT, USDC, TUSD, plus fiat currencies (including USD, EUR, JPY, GBP, and more). Monero is further tradeable on BTSE without withdrawal limits, tier systems, or KYC for crypto-to-crypto pairs.
Monero (XMR) is one of the most popular privacy coins. It benefits from advanced cryptographic obfuscation mechanisms which make all transactions confidential to the extent that only the sender and the recipient are able to see the amount sent and other data. While Bitcoin, Litecoin, and Ethereum leave permanent traces on their blockchains and can be subjected to professional analysis, Monero is private by default and completely secretive to outsiders.
From a technical perspective, Monero makes use of ring signatures to create plausible deniability in terms of linking transactions to senders, while also generating privacy-friendly Stealth Addresses to never have two transactions sent to or from the exact same address. Its cryptography is peer-reviewed by academics and specialists, and the fact that the system has worked seamlessly for five years is a testament to excellent and robust engineering.