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CryptocurrencyGuideMonero (XMR)

How to Buy Monero (XMR): The Best Platforms to Use in 2024

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Monero (XMR) is a privacy coin, which means its transactions are not so easily traceable. This makes it a favored asset for those who value their privacy in a world where the government seeks to know everything about your financial transactions. 

If you’re interested in using XMR, the first thing you must do is to get some of it. There are many ways you can get this. It can be a gift from a friend, or you get paid with it for doing some work but this is rare.

The easiest way to get some XMR in your wallet is to buy some. Such buying is usually done on a crypto exchange, mostly a centralized one. Even though exchanges are sanctioned in some jurisdictions for listing XMR, there are some great exchanges that still trade XMR and you can buy from. The following are the best ones you can find.

Kraken

Kraken is a top crypto exchange that serves customers globally. You can use it to buy XMR quickly and easily once you have a verified account with the exchange. There are two ways to buy XMR on Kraken, by fiat or by swapping your USDT or XBT for XMR.

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For fiat, only USD and EUR are allowed, which means you can use any method available to pay for the XMR. This can be by using your credit or debit card which is instant, or by using bank transfer and depositing the USD or EUR to the platform. Whatever works best for you. 

You can then buy the XMR directly and start trading or send it to your private wallet. The good thing about Kraken is that it charges lower fees than most platforms. It is also a user-friendly exchange that anyone can use easily to buy and sell assets.

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KuCoin

You can use KuCoin to buy XMR too. It is a trusted global exchange with over 30 million users worldwide. Unlike Kraken though, it doesn’t allow you to buy XMR with fiat. Instead, you can either buy by swapping with USDT, BTC, or ETH.

Apart from XMR, KuCoin has over 700 other crypto assets listed, many of which you can trade against XMR. The fees are also quite modest, letting you trade profitably. Whether you’re an absolute beginner or a crypto investor with some experience, you can use this platform to easily buy some XMR.

You’ll also enjoy other features on this exchange such as staking that gives you passive rewards. You can also venture into bot trading or other interesting products that the exchange has to offer.

Gate.io

Here’s another excellent choice for buying your XMR. You can use this platform to buy your XMR easily by exchanging your USDT or BTC for it. This doesn’t require any special knowledge, so nearly anyone can do it easily. 

Apart from XMR, there are over 1,700 other crypto assets listed, giving you several trading pairs for your XMR. You’ll also enjoy the low fees that Gate.io charges, and also enjoy the user-friendly interface that makes it an exchange for everyone.

Lastly, Gate.io is widely accessible in different countries worldwide so unless your jurisdiction is barred from it, you can easily buy XMR on it and do whatever you want with it. You may send it to your personal wallet or start trading on the exchange.

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Bitfinex

Bitfinex is one of the oldest crypto exchanges in the world. Founded in 2012, it is a popular choice for traders and institutional investors. It is one of the reliable exchanges where you can buy some XMR.

Bitfinex offers a number of options for buying XMR with both fiat and crypto assets. You can swap USDT or BTC for it, and you can also buy using USD. For USD purchase, you can use your debit or credit card as well as other methods that are convenient to you.

A slight concern with Bitfinex is that it is a platform designed mainly for professional traders and institutional investors. This means it may not be very suitable for beginners who are not conversant with cryptocurrencies yet. 

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📰 Also read:  The Best 5 Third-Party Vechain (VET) Wallets to Use in 2024

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Alexander Grayson

Alexander Grayson is a seasoned crypto trader with over a decade of experience in the industry. He has a reputation for his analytical approach to trading and his ability to anticipate shifts in the crypto landscape.

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