Buying Monero is just as easy as acquiring any other cryptocurrency; at the time, you can even buy them directly using dollars or euros.
But not long ago I wondered about the same things you are probably asking yourself right now, so I have tried to create an easy guide for you to be able to buy your currency as soon as possible.
Contents
- 1 Where can I buy Monero?
- 1.1 Coinbase
- 1.2 Local Monero
- 1.3 BITFINEX
- 1.4 Kraken
- 2 FAQ
- 2.1 Can I buy Monero using USD?
- 2.2 Can I buy Monero using PayPal?
- 2.3 Can I buy Monero using a Credit or Debit Card?
- 3 Safety Tips
Where can I buy Monero?
You can buy it at a great number of exchanges. Monero is a private cryptocurrency that has seen a growing demand in the last year; therefore, all exchanges are interested in carrying it.
These exchanges are as easy to use as an online bank account or an e-mail. You just need to create an account, deposit the amount you wish to invest in Monero and continue by placing your purchase order.
Coinbase
CoinbaseI recommend this site if what you want is to buy Monero using your credit card. All you need to do is sign up and buy Bitcoins with your card; once you have them, you can transfer them to exchanges such as Kraken, Bitfinex or Bittrex, where you will be able to buy Monero tokens using your Bitcoins.
- Use my invite to earn $10 when buying $100 of any cryptocurrency.
Local Monero
Local MoneroThe advantage of this site is that you can use several payment methods and start trading in seconds. It is not even required to enter an e-mail to register, so by selecting the right payment method, your privacy will be guaranteed.
The best part is that you can even find sellers in your vicinity that accept payment in cash and others that can be paid via Cash by mail and other payment methods. As far as we can tell, it is a website where you will be able to engage in private transactions.
BITFINEX
BITFINEXThis exchange is one of the most important at the time and is always ranked among the top three based on Monero transaction volumes. In my opinion, it is one of the best websites for buying cryptocurrencies or trading.
- You can make deposits in dollars and cryptocurrencies.
- They offer the following trade opportunities:
XMR/USD
XMR/BTC
Kraken
KrakenMaking your deposit via bank transfer and purchasing XMR is quite easy. But I place it last because it isn’t one of the simplest exchanges to use, and experiences many failures when there are many users online.
- You can make deposits in dollars and cryptocurrencies.
- You can trade in the following currency pairs:
XMR/BTC
XMR/USD
XMR/EUR
FAQ
Can I buy Monero using USD?
Yes. There are currently many exchanges that let you deposit funds in their platform and buy Monero directly using dollars.
Can I buy Monero using PayPal?
The quick answer is yes. You can find sellers in LocalMonero or open a VirWox account, where you can trade your PayPal balance for SLL, used on the Second Life platform.
Once you have the SLL, you can sell them over that same platform and obtain Bitcoins. You can now transfer them to any exchange to purchase Monero.
Can I buy Monero using a Credit or Debit Card?
While you cannot buy them directly, you can acquire Bitcoins at Coinbase and then use them to buy Monero at any exchange.
Safety Tips
As I always say, the safest place to keep your currencies is in your own wallet. So before or after buying your Monero tokens, the best idea is for you to install their node on your computer or store them in MyMonero, which is a highly recommended web-based version.
Blanca Guillen
I work as a software developer and for several years I started to get interested in the blockchain technology and Bitcoin cryptocurrency.I have decided to create this blog as a guide in which anyone can start acquiring knowledge about cryptocurrencies.
I am Blanca Guillen, a seasoned software developer with a passion for blockchain technology and cryptocurrencies, particularly Bitcoin. My extensive experience in the field has led me to share my insights through this informative blog, where I strive to provide valuable guidance for individuals looking to delve into the world of cryptocurrencies.
In my pursuit of understanding and navigating the cryptocurrency landscape, I have explored various aspects of acquiring digital assets, including Monero. I have hands-on experience with different exchanges and payment methods, enabling me to compile a comprehensive guide for those seeking to purchase Monero efficiently.
Let's delve into the key concepts mentioned in the article:
Where to Buy Monero:
1. Coinbase:
- Usage: Buying Monero using a credit card.
- Process: Sign up, buy Bitcoins with your card, transfer Bitcoins to other exchanges (e.g., Kraken, Bitfinex, Bittrex) to purchase Monero.
- Recommendation: Use my invite to earn $10 when buying $100 of any cryptocurrency.
2. Local Monero:
- Advantages: Multiple payment methods, quick trading, no email required for registration.
- Privacy: Select the right payment method for guaranteed privacy.
- Options: Find local sellers accepting cash payments or other methods for private transactions.
3. BITFINEX:
- Importance: Among the top three exchanges based on Monero transaction volumes.
- Features: Deposits in dollars and cryptocurrencies, various trade opportunities (XMR/USD, XMR/BTC).
4. Kraken:
- Process: Easy deposit via bank transfer for XMR purchase.
- Consideration: Not the simplest exchange, may experience failures during peak usage.
- Options: Deposits in dollars and cryptocurrencies, trade in multiple currency pairs (XMR/BTC, XMR/USD, XMR/EUR).
FAQ:
1. Can I buy Monero using USD?
- Answer: Yes, many exchanges allow direct purchase of Monero using dollars.
2. Can I buy Monero using PayPal?
- Process: Use LocalMonero or open a VirWox account, trade PayPal balance for SLL, convert SLL to Bitcoins, transfer Bitcoins to any exchange for Monero purchase.
- Quick Answer: Yes, it is possible.
3. Can I buy Monero using a Credit or Debit Card?
- Process: Acquire Bitcoins at Coinbase with the card, then use Bitcoins on any exchange to buy Monero.
- Direct Purchase: Not possible, but indirect purchase through Bitcoin.
Safety Tips:
- Best Practice: Keep your currencies in your own wallet for maximum safety.
- Recommendation: Install Monero's node on your computer or store them in MyMonero, a highly recommended web-based version.
In conclusion, my goal is to empower readers with the knowledge and tools needed to navigate the cryptocurrency space securely and efficiently. Feel free to connect with me on and for further discussions and insights into the ever-evolving world of blockchain and cryptocurrencies.
