Monero Prepares For Upcoming Hardfork
Monero has been gaining interest these days, and more crypto enthusiasts are choosing the privacy-oriented coin as an investment option.
Monero is preparing for a hard fork
A post on Reddit revealed just recently that crypto exchanges such as Huobi, Bittrex, Exrates, and more have not put out a verified response stating that they are ready for the hard fork that’s set to take place in a few weeks.
This shows an important thing: centralized exchanges are hesitant when it comes to moving forward with Monero.
It’s already a known fact that Monero gathered a lot of scrutiny and attention from regulators and lawmakers all over the world.
Monero becomes the choice for more and more crypto enthusiasts due to the fact that the coin helps people overcome the double standard and will not ask anyone to validate their existence.
Whoever uses XMR sets themselves free.
The hard fork will introduce the new PoW RandomX.
KuCoin exchange also had an important announcement to make recently.
KuCoin Will Upgrade the XMR Deposit Address
To ensure the smooth release of the upgrade, KuCoin will close the XMR deposit service temporarily at 12:00, November 11, 2019 (UTC+8).
— KuCoin Updates (@KuCoinUpdates) November 5, 2019
Changelly withholds users’ Monero
On the other hand, there’s a crypto exchange that goes against what Monero stands for.
Changelly is a platform that has been trading XMR for a while now, and it’s seen by many as the go-to option for instant crypto-to-crypto transactions.
For a long time, more and more Redditors have been complaining that the platform is withholding their XMR due to the high-risk KYC concerns.
Not too long ago, we reported that a Redditor accuses Changelly of withholding their XMR and refusing to acknowledge their refusal to offer further information.
You should check out our previous article and read the whole story.
But, as a conclusion, this goes against the very nature of Monero, which is a digital asset based on complete privacy and anonymity.
In terms of pricing, at the moment of writing this article, XMR is trading in the red.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.