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As one of the most promising digital assets, Monero Classic is still seen by many as a very viable option to invest in. However, also benefiting from its powerful distributed ledger technology, Algorand is attracting the attention of many crypto enthusiasts and investors. Decentralization and the absence of intermediaries in the financial network are key advantages of these two digital assets, which boast relatively high capitalization and exchange rates. Because these coins circulate on a decentralized registry, all transactions are publicly accessible and immutable (it is not possible to change the entries). Both Monero Classic (XMC) and Algorand are digital payment systems where banks are not involved in verifying transactions. In essence, they create financial systems with peer-to-peer participants accessing financial products from anywhere in the world where there is an internet connection. There are plenty of XMC (Monero Classic) holders willing to exchange their coins for ALGO tokens (at an affordable price). Whether you want to buy ALGO for fiat money or exchange it for your Monero Classic, you need to find a reliable online platform first.
In the early days of cryptocurrency development, there was a limited set of ways to buy tokens, but much has changed in recent years. Today, there are many online services that allow you to buy, exchange, trade and sell crypto quickly and effortlessly. Considering that ALGO is the number two cryptocurrency in terms of capitalization and exchange rate, it is listed in most crypto platforms. So, here are some places where you can buy ALGO (Algorand) or exchange (convert currency) your Monero Classic savings for this promising coin:
While the market is literally overflowing with crypto platforms, there are only a few that really deserve your attention, and J2TX is among them. Launched in 2015, J2TX is a Cyprus Securities and Exchange Commission-approved brokerage platform offering fast, secure and low-cost cryptocurrency buying and exchange transactions. To exchange XMC (Monero Classic) to ALGO (Algorand), you will not need to register with J2TX as all necessary details will be requested right during the transaction creation process. Keep in mind that since this platform adheres to KYC practices, you need to prepare digital copies of your identity documents such as your passport or driving license.
While most cryptocurrency platforms have done everything to make buying (or trading) digital assets simple and intuitive, the first transaction can be a bit confusing, especially if you are new to ALGO (Algorand). The first thing you need to do is choose a reliable crypto platform that you can trust, and that can be a daunting task. Here are a few things to consider when choosing an online XMC to Algorand exchange service:
With useful tools such as a coins rate chart and a wealth of analytical content, this platform is here to change the crypto world for the better. Finally, J2TX is creating a complete crypto ecosystem where users can benefit from effective tools for working with digital assets, including trading tools.
J2TX is a kind of gateway between your XMC and ALGO crypto wallets, allowing you to quickly exchange one digital asset for another with minimal fees. Using this exchange platform, you don't need to open a user account, as all required data will be requested during transaction creation. J2TX provides a simple and intuitive user interface with a form to buy, convert, exchange and sell digital assets such as Algorand (ALGO) and Monero Classic (XMC). Keep in mind that since the brokerage platform adheres to KYC practices, verification of your identity is required. You will need to take a selfie as well as provide digital copies of your identity documents in order to complete the exchange transaction (change coins).
To exchange one digital currency for another, simply go to the J2TX website, click 'EXCHANGE' in the menu and select XMC (other cryptocurrencies are supported). Then you will see the exchange form, where you can specify the amount of ALGO you want to buy (or trade). Alternatively, you can specify how much XMC you are willing to spend to buy a Algorand, and the online service will perform all calculations automatically. A chart with real-time exchange rates is also available here. In the next step, enter your email address and confirm it. Afterwards, take a selfie, upload a digital copy of your identity document (e.g., ID or driving license) and connect your payment tool (e.g., Visa or MasterCard). Confirm the funds transfer to complete the transaction.
Yes, J2TX charges a commission of 0.95% of the transaction amount. For example, if you want to buy $1,000 worth of digital assets, you will pay a commission of $9.5 (affordable price). If you are using the J2TX platform for the first time, the transaction fee will be 0% as part of the welcome promotion.
J2TX is a reliable brokerage platform trusted by many, including both crypto enthusiasts and major investors (also suitable for trading). First, this platform is officially licensed by Cyprus Securities and Exchange Commission, which means that it is in full compliance with current regulations. Secondly, J2TX uses the state-of-the-art encryption protocol to encrypt users' personal and payment details and prevent sensitive data from falling into the hands of hackers and third parties. This way J2TX creates a secure environment for exchanging and buying digital assets like Monero Classic. Keep in mind that the brokerage company adheres to KYC practices, which means that it requests some personal information from its users. However, J2TX does not use users' personal and payment information for improper purposes or pass it on to third parties.