Monero is a cryptocurrency with a focus on privacy, which keeps user and transaction details obscure. It was launched in 2014 as a decentralized, peer-to-peer cryptocurrency with a USP of offering complete anonymity on its blockchain network.

You can trade Monero by opening an account on a cryptocurrency exchange that supports this cryptocurrency. Once you convert your capital into Monero and store it in your wallet, you can link the wallet with a digital exchange to trade Monero for other cryptocurrencies or even fiat currencies.

As a digital currency, Monero lacks a tangible form. However, your investment in Monero can be stored in wallets - on the web which you can access online using any device, on a single device using a desktop wallet or even in a hardware wallet that stores your Monero coins offline and offers greater security.

You can use Monero to purchase goods and services online, using payment gateways that support transactions in this cryptocurrency, across a wide range including entertainment, apparel, jewelry, web hosting services, online travel, and more. For a full list of merchants and services that accept Monero as payment.

Most countries around the world allow citizens to buy cryptocurrencies, including Monero. However, some countries, including Algerian, Bangladesh, Bolivia, Ecuador, Nepal and Macedonia consider it illegal to buy and sell digital currencies. Unlike the larger and more popular cryptocurrencies, Monerao's privacy features - which keep transactions anonymous, makes it a popular way to indulge in illegal activities, because of which it could be under greater scrutiny by authorities.

While the UK has not yet regulated the cryptocurrency market, it does allow users to buy and sell digital currencies, including Monero. However, the FCA - UK's financial regulatory authority, has recently imposed a ban on trading cryptocurrency derivatives.

While trading Monero, you should be aware that the cryptocurrency market in general experiences higher volatility and unpredictability than conventional financial markets. This is because Monero and other cryptocurrencies are yet to gain mainstream adoption and are influenced to a greater degree by media coverage, especially negative news that can send prices crashing unexpectedly. In addition, due to the anonymity feature of Monero transactions, it is considered a riskier cryptocurrency to own, transact and trade in as it is used for several illegal activities.