Acquisition of Monero­ Where and to Buy XMR Monero

Acquisition of Monero­ Where and to Buy XMR Monero

XMR Monero has really become popular and many people are looking to buy it. Buying monero is quite difficult compared to other types of cryptocurrencies.

Before you can purchase Monero, you are required to have a wallet. Since Monero is open source, you can create a monero wallet from several platforms including Windows, Linux, and Mac. Once you have a wallet, you can purchase monero from different crypto exchanges. It is available on all the major cryptocurrency exchanges. Monero can also be mined or purchased from other people.

Let us look at the various ways of buying Monero:

1. Purchasing Monero from Exchanges

Monero gained popularity recently and so it is not supported by all exchanges. One of the most popular exchanges where you can get XMR is Binance. Binance provides low transaction costs compared to all the other exchanges. Other Monero exchanges include:

·         Bitfinex

·         Bittrex

·         Kraken

·         Coincut

·         Cryptopia

·         LiveCoin

·         Gate.io

·         Orillia

·         LiteBit

·         Poloniex

·         MoneroDirect

·         MoneroForCash

2. Buying Monero with a Credit Card

Unfortunately, there is no direct way to buy Monero with a credit card. To get Monero with a credit card, you will first have to get other Cryptocurrencies like Bitcoin and Ethereum on a fiat exchange (e.g. Coinbase) then trade them for Monero on a secondary exchange (e.g. Binance).

3. Buying Monero with a Debit Card

You can only get Monero on crypto to crypto exchanges. Just like when using a credit card, you will be required to first make a Bitcoin or Ethereum on exchange like Coinbase and then send the cryptocurrency to a secondary exchange like Binance where Monero is sold on Bitcoin and Ethereum pairs. The process takes about 10 minutes.

4. Buying Monero with a Bank Wire/Transfer

You first have to purchase Bitcoin or Ethereum on an exchange like Coinbase using your bank account, then send the Bitcoin or Ethereum to an exchange like Binance where Monero is sold.

5. Buying Monero with Skrill

To get monero with skrill, purchase Bitcoin or Ethereum on Bitpanda. After that, send it to any of the exchanges listed above. Bitpanda is limited to European countries.

6. Buying Monero with Paypal

To get Monero with Paypal, make a Bitcoin purchase on Virwox. This method, however, is quite expensive and takes up a fee of up to 10%.

Where should you put your XMR once you buy it?

You should store your monero a secure cryptocurrency wallet such as Monerujo or MyMonero. Monerujo is a mobile wallet available for Android users while MyMonero is a web wallet. A hardware wallet is one way to store your monero. You can also put your coins in cold storage; this involves keeping the monero in an offline wallet. Only the owner has access to an offline wallet so this that safest option available.

Conclusions

Monero has outstanding privacy feature. This has made Monero be the most sought-cryptocurrency. A lot of people are now looking to buy XMR Monero. The key to making maximum profits is patience; greed is extremely dangerous in trading.

When it comes to storing your monero, remember that you are entirely responsible for your own security. You have to get a safe wallet to store your tokens.

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