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How & Where to Buy Monero A Step-by-Step Guide to Buying XMR

Congratulations! You can buy Monero directly with cash at CoinSwitch.

  1. Sign up at our one of our top-ranked Monero exchanges.
  2. Fund your new account with cash or crypto.
  3. Buy MoneroXMR

Read on for detailed instructions below on where and how to buy Monero and you will be a MoneroXMR owner in no time at all.

  1. STEP 1Register at a XMR Exchange

    Best Monero (XMR) Exchanges

    • coinswitch reviews
      Ease of use
      Time to 1st Buy
      24h Volume
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      Coins
      361

      This mobile aggregator platform collects data from all major exchanges, making it possible to swap a large number of cryptocurrencies at highly competitive rates. Mobile app-only CoinSwitch Kuber is the most popular cryptocurrency exchange service in India, with over 4 million users. Hassle-free arbitrage and trading process.

    After choosing one of the exchanges listed above, you will need to create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Monero MoneroXMR quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy XMR with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for XMR.

Frequently Asked Questions About Buying & Selling Monero (XMR)

How do I Buy XMR with Crypto?

If you want to buy XMR with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for CoinSwitch and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to CoinSwitch.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Monero (XMR)?

To sell XMR, simply reverse the buying process described above. You will likely need to trade your MoneroXMR into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Monero Research Center

Monero Technical Details & Statistics

Tokenomics
  • Market Rank27
  • Market Cap4,401,127,418
  • Circulating Supply17,962,366
  • Total Supply17,962,366 XMR
Yesterday's Trading
  • 24 HR Volume210,948,118 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
  • All Time Low---

What is Monero?

Monero is a privacy and security-focused digital currency with fast, reliable transaction times based on an adaptive block size. It is a cryptocurrency, like the popular bitcoin and Ethereum. However, Monero is different in many aspects; most importantly because it uses the blockchain obfuscation algorithm and protocol CryptoNote.

History of Monero

Monero was launched on 18 April 2014 by a developer who went by the name thankful_for_today. It is one of the more recent coins developed around CryptoNote technology, first employed in Bytecoin (BYTE). In 2016, the market capitalization of Monero reached $185 million, and as of March 2018 it currently has a capitalization of approximately $2.6 billion. While the original developer left, a robust core team has assumed guidance of the currency. Monero has gained popularity among darknet market users because of its advanced level of anonymity.

How Monero Works

As a CryptoNote coin, Monero employs the use of Ring Signatures which do not require sender address information in order for a transaction to be completed and XMR to be successfully sent to the receiver. Unlike bitcoin’s SHA-256 hashing algorithm, Monero uses a Proof of Work (PoW) algorithm known as CryptoNight. It can thus be mined using GPUs and is ASIC-resistant, meaning it is difficult to manufacture mining hardware for the sole purpose of mining XMR. Monero also differs from bitcoin in that it has a block time of 2 minutes, making transactions in its network roughly 5x faster than that of the Bitcoin Network.

Why Should I Buy Monero?

Monero has several advantages over first-generation cryptocurrencies like bitcoin. Let’s quickly go through some of them:

  • Complete Wallet & Transaction Privacy: While bitcoin and Ethereum reveal the transaction history to anyone interested, Monero uses a unique cryptography mechanism that allows financial transactions to be kept private from everyone. The Monero blockchain doesn’t carry signatures of previous coin owners, so it is impossible censor a Monero transaction, or successfully roll it back in the advent of a fork. Even knowledge of a wallet address does not allow others to check an address’ transaction history.
  • Superior Mining Technology: Mining is a cryptocurrency term which denotes confirming a transaction and record keeping. It is like authorizing and keeping a tab of every transaction. Monero keeps this very protected using an unbreakable encryption technique, known as CryptoNight Proof of Work (PoW).
  • Adaptive Scaling: Monero blocks are created every 2 minutes, compared to 10 minutes for bitcoin. Bitcoin blocks have a maximum size and as many transactions are done in 10 minutes, not all of them find accommodation in the next, upcoming block. This leads to delayed payments as well failed payments. Higher transaction charges are necessitated in the Bitcoin Network to accommodate transaction in the first available block. Monero is different in that it has an adaptive block size, which means no matter how many transactions take place within those 2 minutes, a recent transaction will always find a place in the next block. The transaction time is fast and the payment of additional transaction fees will not speed up the confirmation of a transaction.

Monero Gambling Sites

There are several online gambling sites that accept Monero XMR for deposits and withdrawals. They include FortuneJack Casino & Sports Betting, LuckyGames.io, SportsBet.io, 1XBit (no US players) and a few others. View the complete list of Monero gambling sites here.

Currently, there are only a couple of poker sites that accept Monero. They include BetCoin and 1XBit. As more gambling sites start to offer Monero XMR for deposits, we will update CoinClarity with this information.