Huobi Pro, one of the leading cryptocurrency exchanges on the Asian market has announced that it will now support trading with the Monero [XMR] coin. The deposits have already begun from June the 7th on the Huobi Pro platform.
The trading pairs listed by Huobi, XMR/BTC and XMR/ETH, will be available at the Main Zone from 4:00 P.M on June 8th, 2018. Monero is a coin that is focused on the privacy of digital asset transactions. It was designed so that other parties would not be able to track your activity or monitor on your balances.
The Monero platform employs cryptographic algorithms to obfuscate elements recorded on the blockchain, such as which addresses were sent or received, as well as transactions, without any mainstream privacy alterations. This enables transactions to be confirmed faster by the distributed consensus and for them to be recorded on the blockchain, meaning, it is controlled by several virtual asset users jointly.
Withdrawals on Huobi Pro will take place starting from June 10th, 4:00 P.M onwards. It is a known fact by now that making investments in digital assets comes with bigger risks due to the sharp and unpredictable ups and downs the market experiences. Monero’s popularity is largely because its blockchain assures its users that its transactions cannot be traced to one particular user. Huobi.com as a website strives to improve the financial industry and make transactions more accessible and efficient for everyone.
The Monero community does not have a transparent blockchain like Ethereum and Bitcoin, relying on community members for funding. It is free and is managed or controlled by any legal or central authority, having a total supply of $16.107 million. XMR’s price has experienced an increase of 6.54% in the last seven days, at the time the article was written. The news that Huobi will list XMR will most likely influence its price in the following days.