Well, you all may have heard about this privacy-focused cryptocurrency, Monero (XMR) in this article you will learn everything about how to and from where to buy Monero.
Monero is now growing globally and is now in the top 5 cryptocurrencies as of 2018, the market cap and value is also increasing and it is now being accepted on dark-net also, monero can be of consideration as it is based on anonymity.
At the time of writing the price of monero was 252$ for 1 monero, and the current market cap of monero is almost 4 Billion dollars.
Apart from the features, the business model of monero is also shaking the cryptocurrency market by focusing on web-mining which is the easiest and cheapest mining method ever.
Choosing a Wallet
The first release of Monero wallet was Command based interface and was really giving a hard time to new users but now their latest release has implemented synchronized GUI which is not only easy to use but also faster as compared to other wallets available.
The wallets are desktop based and available cross-platform including Windows, Mac, Linux, and others.
Monero is market level running currency so it is easy to find monero on all big and reputable exchanges and websites.
Local monero is a marketplace where monero can be bought easily using many payment options it is a well-reputed marketplace that brings buyers and sellers together like Local Bitcoins.
Kraken is a USA based exchange which allows fiat deposits and monero can be directly purchased it is relatively known for low fees and options.
But for buying monero using fiat deposits there are many verification steps to go through before successful trade which is a long process then exchanging monero.
The most advanced exchange of the world HitBTC with a daily trade volume of 250 million dollars currently supports more than 200 currencies which of course includes Monero.
Unfortunately, it does not support fiat deposits so you need to buy Bitcoin or any other currency then you can exchange for Monero.
According to 24-hour trading capabilities, Binance has secured number 1 spot, although this exchange is quite new but supports many cryptocurrencies including monero.
This platform does not support any kind of fiat financing so any other currency must be bought before exchanging for monero.
Some other options to consider can be Poloniex, Bittrex, Genesis etc when it comes to exchanges.
While you still don’t have to worry if you want to really buy monero and don’t have any bitcoins or ethereum present to exchange there are many options available.
Local bitcoins might be the best place to buy bitcoins using PayPal, bank transfer etc.
Coin base, coin mama etc provide credit and debit card options and bitcoin can be easily bought and then exchanged on any of the platforms as above mentioned.
As we state every time to secure your purchased cryptocurrencies the best options are if you can afford hardware wallets.
Both Ledger Nano S and Trezor T support monero and it is good to store any currency in hardware wallets as they are offline.
Monero is making a glimpse into the market with attracting the audience every day due to its privacy and anonymity features which is essential for every cryptocurrency.