You are in the right place if you know to know the answer to “Where to Buy Monero?” Monero is one of the largest cryptocurrencies in the world. The XMR digital asset offers increased privacy compared to other digital assets. Thus, having access to Monero could allow us to protect our privacy when sending and receiving crypto transactions. In this guide, we are going to share with you all the information about XMR. You will be able to know how to buy Monero with USD and how to properly store it. Furthermore, you will get valuable information about the way in which this virtual currency works.
What is Monero (XMR)?
If you want to know where to buy Monero, then you should certainly know what Monero is. Monero is one of the so-called privacy coins. The goal behind this cryptocurrency is to protect users’ privacy when they use digital assets.
When we use Bitcoin (BTC) or Litecoin (LTC) to send or receive transactions, our information becomes public. All Bitcoin and Litecoin addresses can be viewed by every single interested party through a blockchain explorer.
Users can not only see and view the addresses but also the transactions that are sent and received, including the balances. If you send 100 BTC to another user, it is possible to see this transaction online and all the previous and following transactions. Thus, privacy is literally nonexistent.
Although our names are not displayed, it is possible to easily create a link between the transactions that occurred and our identity. This is also possible if we use exchanges and other crypto-related services.
Monero comes to offer real privacy to users transacting digital assets. This is why many users are asking “Where to Buy Monero? or “How to buy Monero Coin?”
With Monero, you don’t only have control over your funds, but also you get the anonymity you want to send and receive money. You would definitely not want others to understand which are the transactions you are making.
Where to Buy Monero?
Thus, if you want to protect your wallet addresses and balances, then you should use XMR. But where to buy Monero? Well, the answer is very simple. You can get Monero in cryptocurrency exchanges or from other crypto users. If you don’t know where to buy Monero, then the following list is going to help you make a decision.
This is the easiest way to get access to this virtual currency. If you want to know where to buy Monero coin, then using an exchange is going to be the right answer. Exchanges are easy to use and intuitive for most users.
Cryptocurrency exchanges have large liquidity for the XMR digital currency and can be very handy to also use other digital assets. Moreover, exchanges are offering a wide range of services to get involved in the cryptocurrency market.
Some of the cryptocurrency exchanges that you can use to learn how to buy Monero include Binance, OKEx or HitBTC, among others. Each of these platforms is going to offer different services and solutions. You can use any of them depending on the services you want to have.
By using a crypto exchange, you would be able to deposit funds using sometimes a bank account or debit and credit cards. This is the easiest way to get fast and easy access to cryptocurrencies and not only XMR.
HitBTC is among the largest exchanges in terms of trading pairs. This platform is also offering users with the possibility to buy Monero and other digital assets. You can buy XMR using different stablecoins and other cryptocurrencies such as Ethereum (ETH) or Bitcoin (BTC).
This platform is also allowing users to deposit funds. In the European Union, SEPA transfers are allowed. However, not all regions do support wire transfers.
This exchange could help you to solve the question of how to buy Monero with USD. You can deposit funds and exchange them for cryptocurrencies that could then be converted in XMR coins.
Kraken is considered to be one of the most secure and recognized exchanges in the world. The platform was created in 2011 just a few years after the official Bitcoin release. This crypto exchange located in the United States and it offers users with the possibility to buy Monero using USD or EUR.
If you want to know where to buy Monero with USD or EUR, then Kraken is going to be the right platform to use. The firm has been focusing on users’ security and privacy. Over the last years, Kraken showed it is among the most secure crypto trading platforms in the world.
Let’s now move to OKEX. The company is not only allowing users to buy XMR but they can also enjoy different financial solutions. In this way, they can engage in different crypto-related protocols, solutions and networks.
The company is also among the most useful to trade digital assets and get access not only to XMR but also to other virtual currencies. Moreover, OKEX is also considered to be a very secure crypto exchange that offers some of the best solutions for its clients.
If you buy and hold Monero in OKEX, take into consideration that it might only be useful if you want to trade digital assets. To get the best security, you should always withdraw your XMR to a hardware or software wallet. In the next sections of this Where to Buy Monero guide, you will learn how to properly store your XMR coins.
By using the Binance cryptocurrency exchange, you will be able to know how to buy Monero. Binance has been operating since 2017 and it has been offering not only trading services but also access to cryptocurrency networks and services.
Although you cannot buy Monero with USD, you can trade it with other virtual currencies. Moreover, you can withdraw XMR and continue using it outside this cryptocurrency exchange. The positive thing about Binance is that it provides users with a wide range of on-ramp options.
Users can deposit EUR and many other currencies. After it, they can get access with virtual currencies using a bank account or debit or credit cards. Consequently, Binance offers flexibility and easy-to-use services to both expert users and newcomers to the market.
Another cryptocurrency exchange that would allow you to buy Monero is Bitfinex. This platform can be considered one of the most recognized exchanges in the industry. Bitfinex is also working with mobile applications, meaning that you do not need to have a computer to get access to XMR. Everything can be processed using your smartphone.
Moreover, this exchange has added support to the U.S. dollar. If you were searching for a place where to buy Monero with USD, then Bitfinex could be one of the best options available. Everything will, of course, depend on the exchange availability in your region.
Some platforms are not available for all jurisdictions. This is why you should always know whether it is offering services to your region.
Peer-to-Peer or Crypto Meet-ups
Another possibility you have to know where to buy Monero is by using a peer-to-peer platform. Basically, you can buy XMR from other users in the cryptocurrency market. You can meet with them or simply send to them the funds to their bank account and receive your Monero coins.
This can be less intuitive and it is definitely not as fast and comfortable as doing so by using traditional exchange platforms. Some exchanges such as Binance are offering users with the possibility to buy XMR from other users through its P2P platform. Nevertheless, if you are using Binance, it might be a better idea to buy Monero using the spot trading platform.
There are some P2P trading platforms available right now. Some of them include LocalMonero and LocalCoinSwap. Another answer to “Where to Buy Monero?” is by going to Monero or crypto meet-ups in your region and exchanging XMR for cash there or vice-versa.
Crypto meet-ups are a great way not only to know the community but also to get some useful contacts in the industry. Users can easily get access to individuals that use to buy and sell digital assets with cash. Thus, if you find a crypto meet-up close to your city, it might be a good idea to participate.
Some of the advantages of using P2P networks include privacy protection and some of them have no KYC. Thus, if you care about privacy, this might be also one of the best ways to learn how to buy Monero.
Now that you know where to buy Monero, you need to know how to store it. There are some crypto wallets you can use. If you are planning to trade Monero, then you can simply hold your funds in a crypto exchange. The exchanges listed above could be a good option.
You can simply trade your XMR coins trying to profit from market fluctuations. Then moving your funds to another wallet might not have sense. However, remember that exchanges are going to be the custodians of your coins. This can certainly be risky.
In recent years, dozens of exchanges have been hacked and many of them ended up losing millions of dollars in users’ funds. If you don’t want to face this issue, then you should withdraw your funds to a wallet that would give you the custody of your coins.
Hardware and Software Wallets
Hardware and Software wallets could be some of the best places to store XMR coins. Considering you know where to buy Monero, understanding the advantages and disadvantages of these wallets would be a key thing.
Software wallets are crypto wallets such as those you can find in the App store or that you can download to your desktop. They work very efficiently and most of them allow you to hold different virtual currencies.
These are very useful for users that do not want to hold their digital assets in exchanges but still want to have easy access to their funds. Nevertheless, they are not the most secure ones. You need to properly store your private keys and also avoid downloading malicious files.
Most of these software wallets are free to use. That means that you don’t have to be worried about purchasing them. Instead, using a hardware wallet requires you to purchase it.
Hardware wallets instead are the most secure place to store your recently purchased XMR. If you are a long-term holder or you want to hold XMR and not trade them, then, hardware wallets will be the right option.
Some of the most popular hardware include the Ledger Nano S and Trezor. These two wallets can be used not only to store XMR but also dozens of other digital assets. They would require you to protect your private keys and be in charge of taking care of your funds.
However, they will be safe from malicious attacks from the internet, considering they store your private keys offline. As mentioned before, these are the safest wallets available in the market. The only disadvantage is that you would have to pay for them.
Final Words About Where to Buy Monero
Monero is one of the best cryptocurrencies available in the market. It allows users to protect their privacy and to be sure they are not sharing valuable data and information. By using advanced cryptographic solutions, users can easily protect their identities and privacy.
The easiest way to buy Monero is by using a cryptocurrency exchange. These platforms are easy to use, fast and very user-friendly. However, those users that do not want to use a crypto exchange can get access to XMR through peer-to-peer platforms. However, this can be certainly more difficult and dangerous as well.
For more questions about Monero how to buy this cryptocurrency and where then you can use Monero’s official site. They are sharing and providing valuable information about this digital asset that can be used to send and receive private transactions across borders.