Learn This Guide to Buy Monero in New Zealand
According to McAfee Antivirus creator John McAfee, Monero is one of the best cryptocurrencies to invest in this year. This is thanks to Monero being the cryptocurrency markets’ leading privacy coin. Here, we’ll, therefore, look at how to buy Monero and why doing so might be in your interest.
Searching for terms like “How Do I Buy Monero in NZ,” will often see search engines point you in the direction of overseas exchanges. However, if you are a Kiwi, it makes more sense to buy Monero (XMR) right here in New Zealand.
At Easy Crypto, we are a local to New Zealand cryptocurrency exchange. This means that you can buy Bitcoin easily in Easy Crypto NZ, Ethereum, Monero, or over a hundred other altcoins.
Buying Monero at Easy Crypto takes less than 5 minutes (by comparison, it can take several hours or even days to verify new accounts on other exchanges). Easy Crypto allows you to buy Monero at current market prices — not at higher markups like other exchanges. And, You can sell your XMR back to us at any time. When you want to cash out your Monero, simply create an Easy Crypto sell order.
Monero is not as popular as cryptocurrencies like Bitcoin. However, many believe that Monero may be a top coin to watch in the coming years.
Monero is a privacy coin. This means that the way Monero works makes it impossible to link Monero wallet balances to the real identities of wallet users. There are, of course, other privacy coins on the cryptocurrency market. However, none facilitates total user anonymity the same Monero does.
By preserving the anonymity of users, Monero is more fungible than Bitcoin.
At present, it is relatively easy to link Bitcoin wallet addresses to the real identities of Bitcoin users. Because of this, it is possible for law enforcement agencies to blacklist Bitcoin coins in a way that effectively makes coins worthless.
In 2018, the U.S. government was successful in blacklisting Bitcoin wallets belonging to two Iranians guilty of staging ransomware attacks on U.S. computer users. As a result, $6 million of BTC became worthless and impossible to sell or trade on exchanges.
With Monero, blacklisting addresses simply isn’t possible. This makes XMR more fungible than Bitcoin, and, (some argue) more credible as a cryptocurrency as a result.
In total, only 21 million Bitcoin will ever enter circulation. As a result, Bitcoin becomes scarcer over time. This results in the Bitcoin price steadily increasing.
In the case of Monero, only 18.4 XMR will ever enter circulation. 90% of all XMR that will ever be created is also already in circulation today. Monero, therefore, benefits from comparable scarcity to Bitcoin. As more investors become aware of this fact, it is not unreasonable to expect Monero to start making major price gains.
At present, no one can say definitively if now is a good time to buy Monero. As it stands, the 2020 stock market and global cryptocurrency market is in completely uncharted territory. However, when it comes to blockchain technology and fungibility, Monero is widely accepted as superior to other altcoins.
Now that you finally know everything about Monero, how do you feel about trying it? Are you planning to invest in Monero this year? If so and you are based in New Zealand, do not hesitate to visit Easy Crypto NZ to do so in under 5 minutes.