How and where to buy Monero (XMR) cryptocurrency in 2020 – A complete overview of buying Monero on the exchange, in the exchanger for rubles and dollars
Monero is an open source decentralized cryptocurrency that runs on its own blockchain and allows anonymous transactions. It is based on CryptoNote technology (ring signatures). Monero is a fork of the Bytecoin cryptocurrency and was first launched in 2014. The main difference from other cryptocurrencies is the inability to track information about a transaction in the blockchain.
The market capitalization of the Monero cryptocurrency as of March 5, 2018 is $ 5.6 billion. There are 15.7 million XMR coins in circulation. The issue is not limited and this restrains the price growth. Monero is currently trading at $ 357. In anticipation of the upcoming hard fork (MoneroV), which will take place in mid-March, the value of the coin has increased by more than 30%.
Where and how to buy cryptocurrency Monero
How to buy Monero (XMR) for rubles, dollars and other fiat currencies:
✅ Using p2p exchange.
Article: “How and where to buy bitcoin for rubles“
How to buy Monero on the Exmo exchange
One of the ways everyone can buy Monero is to use the Exmo exchange. After the purchase, the coin is in your exchange wallet. The Exmo exchange provides an opportunity to work with fiat currencies, i.e. exchange rubles, dollars, euros, hryvnia for the Monero cryptocurrency.
The following pairs are available for trading: XRM / BTC, XRM / USD, XRM / EUR. If you replenished your account in another currency, then you must first exchange it for bitcoin, dollar or euro.
Eksmo Exchange is the most popular exchange in the CIS. It has been operating since 2013 and today has more than 1.2 million registered traders. The commission is not big – 0.2% of the transaction amount. The limits and commissions can be found in detail on the website. There are two types of orders available – limit and market (section Trades) and simple buy by market (section Exchange).
Instructions on how to buy Monero cryptocurrency (XRM):
- Registration on the website of the exchange exmo.me.
Use your real mailbox and come up with a strong password that you haven’t used anywhere else. Do not forget to save (write down) so as not to forget. Login enter any you want.
Click “Register” and expect a letter to the specified e-mail. Having received the letter, open it and follow the link, thereby you activate your account and link your mailbox to it. This requirement is mandatory, do not start work on the exchange without confirmation! One more point: if you use mail addresses on “mail ru”, then check for spam, perhaps the letter will get there. I recommend using more reliable and secure email services, for example, from Gmail.
- Verification is not a prerequisite for working on Exmo. You can immediately replenish your account and buy any cryptocurrency. But, if you go to use Visa / Mastercard, bank transfers and some other payment systems, then account verification will need to go through. From the beginning of March 2018, this procedure can be completed in 24 hours. You need to provide the required documents in a scanned form and sign an agreement.
- To buy Monero or any other cryptocurrency, we replenish the account. Choose a convenient way: fiat (USD, EUR, RUB, UAH) or transfer of cryptocurrency from another wallet to the exchange.
- Another convenient way to deposit or withdraw money from Exmo is to use the internal currency Ex-code. You can buy codes for any amount in online exchangers: Prostocash, 60cek, Xchange. Redeem in the “Wallet” section by selecting the “Excode” line.
- To buy Monero (XMR) at market value, use the section “Exchange” or “Trades” – order “by market”.
- To trade Monero cryptocurrency, go to the “Trades” section. Choosing a currency pair: XRM / BTC, XRM / USD, XRM / EUR.
Click “Altcoins”, find XRM cryptocurrency and click on a pair. If you click on the star, the couple will be added to the Favorites section. I have added XMR / USD, as I trade most often.
The chart, order book and trading history are available for review and analysis. Based on this data, you can place a limit order. Let me remind you that this is an order to buy or sell, in which you indicate the cost yourself.
To place an order by limit, specify the amount of Monero, the price and click “Buy XMR”. Your order gets into the general order book for purchase and will be executed when it is redeemed with a counter order. This can take a long time if you have indicated a non-competitive price, or if the cryptocurrency rate has gone up. Therefore, it is recommended to buy by the market (if there is enough liquidity in the order book for selling).
- When the order to buy Monero is executed, the cryptocurrency will be stored in the wallet. If you plan to actively trade, then there is no sense in transferring to other wallets because of the commission. In the event that this is a long-term and large investment, then it is advisable to transfer to a local wallet from which you have a private key.
To withdraw, enter the amount and the address of the Monero wallet. The minimum amount is 0.1 XMR; commission 0.05 XMR.
Instructions on how to buy Monero on the Livecoin exchange
Another exchange where you can buy Monero cryptocurrency is Livecoin. The buying process is practically the same as on the Exmo site.
The Livecoin exchange has been operating since 2015 and has good reviews on the network. The exchange works with fiat, which is a great advantage. You can deposit money into your account through the payment systems Qiwi, Payeer, Advcash and others. Livecoin vouchers are available through exchangers.
The main direction of the exchange is altcoins. There are several hundred of them on the site. Among the popular ones are: Neo, Nen, Iota, Ethereum, Dash and others.
An overview of how to buy Monero (XMR) on the Livecoin exchange:
Create an account on the livecoin.net website. Click “Create a trading account”, fill out the form. Confirm your email address.
- Account security setting (Account – Security). To work with amounts over $ 100, you need “Level 2. Advanced” – this means connecting two-factor authentication.
- Verification is not needed at all, since the exchange does not work with cards and bank transfers. Cryptocurrency trading is available immediately after replenishing the exchange balance.
- Top up your account or buy a voucher in exchange offices. To do this, click “Balance”.
- Go to the “Trades” section and choose a pair: XMR / USD or XMR / BTC.
- The Livecoin exchange provides two types of orders: limit and market. The bottom line is simple – in the first case, we indicate the amount ourselves, in the second – instant redemption of opposite orders from the order book for sell.
- Place an order and click “Buy”. If you bought by the market, you will receive Monero cryptocurrency immediately, if by the limit – when the order with the specified parameters is executed.
- Cryptocurrency is stored in your exchange wallet and is available for transfer at any time.
Review: “How, where to buy cryptocurrency for rubles.”
How to sell or buy cryptocurrency Monero (XMR) in the exchanger
The fastest way to buy, sell Monero cryptocurrency is to use online exchangers. The operation can take only 5-10 minutes. Another advantage is the large number of payment systems available for exchange.
But, if, when using exchanges, a wallet for Monero is provided automatically after registration, then when exchanging in an exchanger, you need to create it in advance in order to get an address. The address is needed to send cryptocurrency to it after the purchase. Many people use an online wallet – Mymonero, which does not require downloading the entire blockchain.
Also, for a successful exchange, you must choose a reliable and proven service. Currently, not all exchangers work with Monero.
List of exchangers where you can exchange XMR cryptocurrency:
They can buy Monero for all popular payment systems and banks: Yandex, Qiwi, Advcash wallet, Payeer, Sberbank Online, Alfa Bank, VTB24, Visa / Mastercard RUB and KZT bank cards and many other directions.
Instructions on how to buy Monero (XMR) in the Kassa exchanger:
- Registration on the Kassa.cc website. After it, you will receive a discount that will increase depending on the exchange amount (from 5% to 15%).
- Familiarization with the exchange rules and FAQ. If you have any questions, please contact the support chat.
- Choosing the direction of exchange, creating an application indicating the amount and address of the Monero wallet to receive cryptocurrency. For example, buy Monero for Sberbank rubles:
- Filling in the necessary information. If the purchase is from a bank card, then you need to indicate its number and owner. Enter your XMR wallet address and Payment ID (if needed). Pay the invoice and receive the cryptocurrency to the specified address.
Article: “Cryptocurrency exchangers online for rubles“.
Review where it is better to buy Monero
You can consider all the options offered – exchanges and exchangers. The best buying rate for Monero will be on the crypto exchange. The fastest exchange is in the exchanger. But, you need to take into account many other factors: commissions for deposit and withdrawal; trade commission; available payment systems; rates of exchange services. If you plan to actively trade a coin, use a cryptocurrency exchange.