Monero [XMR], the thirteenth largest cryptocurrency by market cap, gained support from KuCoin, one of the leading cryptocurrency exchange platforms. KuCoin announced the same through an official blog post, which stated that they would be supporting the popular privacy currency on their platform, enabling trading services for the Monero community.
The official announcement read that the coin would be paired along with Bitcoin and Ethereum. Furthermore, the blog stated that the deposits for Monero had already been enabled for its users. Trading services for the cryptocurrency will begin from 26 March at 18:00 [UTC + 8] and withdrawal services will be enabled from 28 March at 18:00 [UTC + 8].
The exchange also warned users about the risks associated with investing in cryptocurrencies, stating that this equates to being a venture capital investor. The exchange also reminded its users that the cryptocurrency market has no opening or closing time like the trading market. More so, the exchange also advised users to be careful before entering the cryptocurrency and blockchain technology space. They said,
“KuCoin attempts to screen all tokens before they come to market, however, even with the best due diligence there are still risks when investing. KuCoin is not liable for investment gains or losses.”
Notably, this news came in right after Binance, the largest cryptocurrency exchange by trade volume, and Tor Project announced additional support for the privacy coin.
Earlier this month, Binance announced that they added more trading pairs for Monero; with the coin being paired with Binance Coin [BNB] and Tether [USDT]. This was followed by Tor Project, a non-profit organization, announcing that they would be accepting Monero for donations.
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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.