Created in 2014, Monero (XMR) is an open-source cryptocurrency that offers privacy and decentralization to its users. Monero is being touted as the best alternative to Bitcoin because BTC doesn’t offer privacy. Hence, Monero is the best privacy coin out there. If you want to buy Monero, there are many exchanges that let you trade and exchange Monero. We have made a list of the best Monero exchanges that you can use to buy Monero (XMR) online.
With a rise in censorship and increasing government clampdowns on privacy of citizens around the world, Monero has become the de facto privacy crypto coin that people all over the world can use to freely transact without worrying about privacy breach. Not only does Monero add a layer of anonymity to your transactions and identity, it offers many great benefits. Luckily, you can purchase Monero without disclosing your identity on some of the best Monero exchanges in the crypto realm. Without further ado, let’s get started.
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How To Buy Monero Online: 7 Best Monero Exchanges 2021
An instantaneous crypto exchange, ChangeNOW enables users to exchange or buy XMR (Monero) without asking for KYC verification. Since user registration is anonymous, ChangeNOW is one of the best Monero exchanges for people who value their privacy while buying/selling crypto.
What’s more, users can also exchange and convert their BTC, ETH or other crypto into Monero XMR. All you have to do is to visit the ChangeNOW website, select primary coin (BTC, ETH for conversion) and select XMR (for receiving after conversion) and you are good to go.
Another formidable XMR exchange that values your privacy, LocalMonero is a nifty exchange where buyers, sellers and traders of Monero can transact directly without a middleman. LocalMonero is just a facilitator or escrow for such transactions. LocalMonero can also convert XMR to USD, EUR, AUD, INR, GBP or any other local currency with ease for simplified transactions.
Since LocalMonero is a non-KYC exchange, you can certainly buy Monero by sending cash via mail (up to $10,000 in the U.S), Debit Cards, (VISA, Mastercard), Paypal, bank transfer and more. LocalMonero has an active presence in almost all the countries
Perhaps one of the biggest cryptocurrency exchanges in the world, Binance also supports buying/selling of Monero (XMR) since 2017. Please note that since Binance is a crypto-to-crypto exchange, you can send and convert fiat currencies such as GBP, USD, or EUR to buy Monero.
Luckily, Binance is one of the best Monero exchanges when it comes to converting BTC, ETH, etc. into Monero (XMR). Binance exchange supports the following pair for Monero: XMR/BTC and XMR/ETH. While ChangNOW and LocalMonero don’t have their own apps, Binance boasts user-friendly mobile apps (Android/iOS) to foster people trade cryptocurrencies on the go.
Kraken is a very popular Crypto exchange that is known to be a safe haven for trading Monero. Although Kraken is partially non-KYC (for transactions within a threshold), it is available in almost all the countries of the world.
While the trading costs are competitive with other exchanges such as Binance, Kraken is led by a team of Crypto enthusiasts who believe that unnecessary government interference/verification viz. user privacy whilst buying crypto is unwarranted. Kraken now also offers both futures and margin trading.
All in all, Kraken is one of the best Monero exchanges especially for USA investors who are seeking a reliable solution to buy Monero(XMR) online.
Founded in the USA in 2014, Poloniex is a premium Monero exchange that offers a ridiculous number of assets with support for over 100 different pairs choices including Monero (XMR). Buoyed by a great UI, crypto traders can combine a strong range of assets and reap great profits. Poloniex also offers futures trading with a leverage of up to 100:1 for all users is available.
A simplified solution to buy Monero online, Changelly is one of the best Monero Exchanges for first-time buyers and newbies. If you want to send Monero. Changelly offers two rates: Fixed rate and floating rate (where amount fluctuates depending on the latest market rates). Also, you can use Changelly on mobile for converting Monero via its Android and iOS apps.
However, you would need a Monero wallet and receiving address handy to receive your Moneros. Also, Changelly demands that you need to have some bitcoins/altcoins to exchange for Monero.
Hong Kong-based cryptocurrency exchange Bitfinex was founded in 2012. Since then, Bitfinex went on to become one of the biggest cryptocurrency exchange where you can trade in over 30 coins for buying/selling including Monero (XMR). Please note that Bitfinex is not a typical crypto-to-crypto exchange.
Users can trade 30 cryptocurrencies/pairs in exchange for USD, EUR, BTC or ETH. It currently supports the following pairs for Monero: XMR/BTC and XMR/USD.
And, whenever you get bored with the web version or want to trade on-the-go, you can use Bitfinex’s Android and iOS mobile apps. They are quite handy and user-friendly.
Best Monero Exchanges: Summary
We are sure you must have found a solution to buy monero online from one of the aforementioned exchanges. Word of caution though: please don’t use these exchanges to HODL your cryptos. Never. That is why you have Monero wallets.
You may store XMR on these exchanges for a few hours or a couple of days. Why? Because the fluctuating crypto market prices can put you in losses if you hodl XMR or any other crypto on these exchanges for far too long.