June 15, 2021

How to Buy Monero (XMR)

5 min read

Monero is among the most popular and caring by the neighborhood cryptocurrencies out there. Considering that the crypto market is experiencing good times, one might think of his/her crypto portfolio diversification. And this is where the concern “how to buy Monero?” occurs.

We, at Changelly, consider Monero (XMR) as one of the most substantial trading instruments. The thing is that the innovation behind Monero embodies all the core ideas of decentralized finance. How to buy Monero? Where should you keep it? Is Monero a good financial investment? and other concerns will be clarified in this short article. Here we go.

What Is Monero?

Monero (XMR)is a native cryptocurrency of the Monero blockchain. The Monero task was released in 2014, and ever since, both the decentralized network and a digital currency have started to gain momentum. Since today, Monero is in the leading 20 cryptocurrencies evaluated by market capitalization.

  • XMR is a mineable coin. The Monero blockchain utilizes the proof-of-work (PoW) agreement algorithm and the RandomX hashing algorithm. If you have appropriate mining equipment, you can join Monero miners in order to discover new coins and get a benefit;
  • Monero has a really devoted neighborhood;
  • Monero is mostly concentrated on the privacy and anonymity of your information. All Monero transactions are untraceable.

For more XMR essentials, it is highly recommended to check out the short article about Monero.

Step 1: Open an Online Account

Monero stands amongst the most popular coins in the crypto market. There are a wide range of crypto exchanges that supply fast access to XMR. We’ve collected the leading 5 crypto platforms that assist you buy, offer, and trade Monero.

  1. Binance
  2. Bitfinex
  3. HitBTC
  4. Bitcoin.com
  5. Huobi

Step 2: Choose a Wallet

When you select an exchange and get an account, you require to get a digital wallet in order to get XMR, shop and move your digital assets. The very best solutions for XMR storage are provided below.

Action 3: Make your Purchase

When all the preparatory work is done, it is time to finally buy Monero. Select the currency you want to purchase XMR with (fiat/crypto), go into the address of your wallet, and voila! A number of minutes later on, your XMR coins will show up in your wallet.

Buy Monero with other Cryptocurrencies

If you are a crypto veteran or just have some other cryptocurrency, you can easily exchange your digital properties to XMR. Changelly supports over 160 cryptocurrencies that can help you to buy Monero.