Monero is not on Coinbase because it is not a Bitcoin-based cryptocurrency. Coinbase only supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Monero is based on the CryptoNote protocol and uses multiple signature technology which makes it more private and secure than Bitcoin.
CEO Brian Armstrong addresses the company's lack of listing for Monero. Regulators and internal risk assessments have kept the coin from being listed as a privacy-focused coin, according to reports. Financial services firms are not likely to settle every legal dispute with regulators because fighting them can be expensive. According to him, it may be preferable not to engage in regulatory dialogue in certain cases. Neutrino was acquired by the company at a significant cost, and Armstrong acknowledged its blunder.
Cryptocurrencies are more expensive and difficult to obtain in some cases. Monero, for example, is one of them. Monero is not currently supported by Coinbase's vast ecosystem.
Coinbase does not support Monero.
There are a few reasons why you may not be able to buy Monero on Coinbase. The first reason is that Monero is not yet supported by Coinbase. The second reason is that even though Monero is supported by Coinbase, you may not be able to buy it with your specific country's currency. Lastly, the amount of Monero you want to buy may be too large or too small for Coinbase to support.
Despite the fact that there are still no exchanges that allow you to buy Monero with a fiat currency like USD, EUR, or any other major currency, there are still no options for purchasing Monero at a low cost. Using one exchange as a fiat on-ramp and another as a Monero trade is regarded as a low-cost and effective strategy. If you prefer, you can learn how to buy Monero using Binance rather than Polinex by reading our How to Buy Monero Using Binance. To verify your identity, you must first enter your name, email address, and phone number. After you receive a text message with a verification code, your phone will be able to receive it. It can be used with your bank account by logging in and entering a payment method. If you are from Australia, you must enter your credit/debit card information.
If you live in the United States, you can transfer money to another country. We're going to send the Litecoin that we purchased. Poloniex accepts Coinbase in addition to our Litecoin Wallet. By exchanging Monero, we can do so. This procedure is simple; simply avoid using any false information. The wallet address can be found by clicking Deposits and Withdrawals. We will be able to transfer your litecoin to us via your Poloniex Litecoin Deposit page if you return the address you provided to us.
The recipient's deposit address should be added (right-click on it, then select 'paste'). If we send you an incorrect address, you may not see a green dot next to it, indicating that the address is incorrect. If the transaction information cannot be found on your Dashboard, go to Accounts and then the little... box next to the Receive button to bring up the transaction information. A transaction should appear in your Poloniex within a few minutes of being confirmed. As a result, we must find the pair of cryptocurrency (rather than Bitcoin) in order to trade Litecoin (rather than Bitcoin) for Monero. We enter the amount we want to sell in the SELL section of the page. As much or as little as you want can be sold. If the order does not appear in the Open orders section, click the Cancel button to cancel it. After that, you can simply re-enter the sell information to make certain that the sale is completed.
It's unclear if Monero will be added to Coinbase in the future. Monero is not currently listed on Coinbase, but that doesn't mean it never will be. If Coinbase does add Monero to its platform, it would likely be a positive move for the cryptocurrency, as it would make it more accessible to a wider audience.
Crypto exchanges such as Huobi are delisting privacy tokens such as Zcash and Monero. As regulatory concerns grow worldwide, Huobi, one of the world's largest cryptocurrency exchanges, is delisting several privacy-focused tokens, including Zcash and Monero.
Monero's former listing on the OTCQX was discontinued due to regulatory concerns, and it was recently delisted from the OTCQX. Although this may appear to be a bad thing for Monero users, the truth is that it is beneficial. Despite the fact that exchanges are becoming increasingly cautious about listing privacy-sensitive cryptocurrencies, Monero has been unable to find a permanent trading location. One of the most popular exchanges, Coinbase, has yet to list Monero. Regulators may be more cautious in their approach to listing cryptocurrencies than before. It is important not to lose sight of the fact that it is a setback. This could be the right time for Monero to find a permanent home, as it has been struggling to find a permanent home.
There are a few reasons why XMR might not be tradable on certain exchanges. One reason could be that the exchange does not support XMR trading pairs. Another reason could be that the exchange has delisted XMR due to low trading volume.
Why is Monero not being added to Coinbase? Coinbase CEO Brian Armstrong recently spoke about the reasons why Monero will not be added to the platform in the near future. Concerns about privacy coins have been raised by regulators, specifically as a result of Monero's role in high-profile hacks and scams. How can I store cryptocurrency Monero (XMR)? Binance is the best place to store your Monero (XMR). The Monero (XMR) you own can also be traded for other cryptocurrencies or held for passive income by participating in Binance Earn. If you want to trade your Monero (XMR) to a decentralized exchange, check out Trust Wallet, which is one of the world's largest blockchain and asset wallets.