A Beginner’s Guide to Purchasing Monero 

There are cryptocurrencies that do not need a heavy introduction and Monero (XMR) is one of them. For those who do not know what it is, Monero is one of the anonymous currencies today that emphasises the importance of decentralisation and privacy. It was established in April of 2014 when it was introduced as an open-source cryptocurrency. Monero is unique, especially because it does not use Bitcoin’s central code.

Why Buy Monero

Before you get to know how to buy Monero, you should first understand why you need this cryptocurrency. If and when the governments of the world use a method to crack cryptocurrencies, your portfolio will benefit from it. Monero is the ultimate coin to use for secret transactions. Additionally, it continues to improve, which is evident in its economy’s growth.

How to Buy Monero

Many investors now want to purchase this cryptocurrency. If you are new to Monero and you want to know the easiest methods to buy it, here are some tips:

Find the top exchanges where you can buy XMR.

First of all, Monero requires that you have Bitcoin or Ethereum. Usually, any payment method where you can buy the other two currencies will let you get Monero. This anonymous coin is purchasable for either Ethereum or Bitcoin on different exchanges, such as:

Binance
Changelly
Kraken
Bittrex

The exchanges also need you to pay for the transaction. Note that they support all countries across the globe but only Changelly accepts payments in euros. Nevertheless, you can use BTC and ETH to pay for Monero at Binance and Bittrex. Fiat is accepted at Kraken but the fees can go as much as .26% per transaction

You can also go to Cex.io or BitPanda where European customers are allowed to purchase Bitcoin using their credit cards. Other options are also available when purchasing. Then, you can head to Changelly or other exchanges to get your Monero.

Own a Monero wallet.

The best wallet for Monero right now is XMR Wallet. Go to the wallet’s official website at https://www.xmrwallet.com/ which will redirect you to the login page. You need to register your Monero account first. The site offers the users a link where they can head straight to where they can create their account.

At XMRWallet.com, you can log in using a Public Key or a Seed, so you do not have to provide any personal details.

Purchase Monero.

Once you have your Monero coins from your preferred exchange, you should not forget to move the virtual coins to your wallet through XMRWallet.com. Unfortunately, most people leave their coins on the exchange where they purchased Monero. It can cause you to lose control over them, which is why XMRWallet exists.

As you can see from above, it is quite easy to purchase Monero and keep it in a safe place. With experts trusting its staying power, Monero may have a higher price in the coming years, which is why it makes sense to hold on to it for the long term.

Leave a Reply

Your email address will not be published. Required fields are marked *