Monero is an alt-coin that is steadily gaining popularity and respect due to its reputation for privacy, security and untraceable transactions. Whilst this has made it the coin of choice for many dark transactions, it is is also extremely popular amongst the everyman crypto enthusiasts.
Table of Contents
Buying Monero Via An Exchange
Whilst it is not always beneficial to purchase Monero through a recognized
exchange, the fees will often-times be lower than with other transactions. Thus, particularly when investing in a significant number of Monero, it is recommended to purchase through an exchange.
Finding The Right Exchange For You
There are numerous exchanges to choose from when looking to purchase Monero. Local Monero – offers a variety of payment options whilst Kraken – allows you to exchange fiat currency for Monero, provided you are willing to register your details with the exchange.
Binance, Changelly and Bittrex, along with Kraken, are all supported in all countries around the globe and accept BTC and ETH in exchange for Monero. Kraken and Changelly except fiat currencies too, for a price. Binance is the cheapest exchange whereas Kraken can be the most expensive, depending on the options chosen.
Buying Monero with BTC
Existing BTC can be converted into Monero. Many Monero traders find this easier to do than purchasing Monero directly. BTC can be purchased using your credit card, PayPal account or through some ATMs.
Residents of the US can make use of Coinbase or Coinmama to purchase new BTC and then exchange the BTC for Monero using Changelly, HitBTC, Poloniex, Bithumb, Bittrex or Kraken. European customers can do the same, but purchasing their BTC through Bitpanda or Cex.io. If you are already in possession of BTC, of course, this can be exchanged for Monero directly through one of the exchanges.
Using Changelly to convert BTC to Monero
Changelly is one of the simplest means of exchanging BTC for Monero. You need only a Monero address (a Monero wallet or a Monero exchange) and a Changelly account. Changelly will allow you to exchange BTC or Ethereum for Monero, but will also allow you to purchase using USD or EUR.
Buying Monero using Credit Card
As Monero is only traded through BTC or Ethereum pairs, you will first need to purchase one of these cryptos before Monero can be purchased. Happily, BTC and Ethereum can be purchased using your credit card through any of the big exchanges.
Buying Monero using Bank transfer
Purchasing Monero using a back account requires you to first purchase Ethereum or BTC via bank account through an exchange that allows for this facility, like Coinbase. Thereafter, the BTC can be exchanged for Monero. The recommended exchange for this purpose is Binance, as it offers the most reasonable fees on each transaction.
Buying Monero with Paypal
To purchase Monero using Paypal, purchase BTC on Virwox using Paypal and then exchange the BTC for Monero as explained above.
We’ll keep you updated about the latest news, tips, and guides.