Altcoin

How and where to buy Monero (XMR)?

Best ways to buy Monero: how and where can you buy the Monero-Coin (XMR)

6.770x Views | 0 Comments

(c): https://getmonero.org & cryptocompare.com

01.12.2017

Monero is a crypto-currency, which places particular emphasis on privacy and anonymity. In addition, Monero has a new scaling concept and would like to compensate for the weakness of Bitcoin or other crypto-currencies. But how and where can you buy Monero (XMR)?

The best exchanges for buying Monero (XMR) directly

Monero Exchange	Anycoindirect	LiteBit.eu
	© "Anycoindirect.eu Screenshot"	© "LiteBit.eu"
Type	Broker	Broker
Reputation
Exchange Rate
Fees
User-friendly
Payment Methods Depending on Country	GiroPay, SEPA, SOFORT, TrustPay, MyBank, iDEAL	GiroPay, SEPA, SOFORT, MyBank, iDEAL
Rating	91 %	89 %
	Go to Anycoindirect*	Go to LiteBit*

Buying Monero on LiteBit.eu

LiteBit.eu* is a European crypto broker, which offers Monero, Bitcoins, Ethereum and over 40 other Altcoins for direct purchase. The company, situated in the Netherlands, makes it possible to start with purchasing first crpyto-currencies within a few minutes.

LiteBit.Eu offers the following payment methods:

SEPA credit transfer
SOFORT (immediate transfer)
GiroPay
iDeal (Netherlands)
MyBank

In our test, we selected the purchase of Monero using SOFORT (immediate transfer). After a verification of the bank account the Monero coins were credited. This worked out flawlessly in several tests, even if it took one working day due to the verification of the first purchase.

Buying Monero on Anycoindirect.eu

Anycoindirect* offers the possibility, besides Monero, to acquire many other cryptos. In addition to Monero, the following digital currencies can be purchased on the platform:

Bitcoin
Ethereum
Ehter Classic
Litecoin
Gulden
Dogecoin
Feathercoin
Blackcoin
Peercoin
Zcash
NEO

Registration on Anycoindirect is very fast and afterwards Monero can be purchased with Giropay or the payment service SOFORT (immediate transfer). In case of payment via Giropay, however, a verification is required (upload of a valid identification document). The payment SOFORT worked perfectly in our test.

Anycoindirect does not offer its own wallet, therefore the coins have to be transferred to an existing wallet (for example the online Wallet Coinbase ).

Without verification of the account (upload of valid ID documents and verification by video chat), only cryptos up to 100 Euros can be ordered .

How to buy Monero (XMR) with USD, Bitcoin or Ethereum via credit card or bank transfer

Monero can be traded, as many other crypto-currencies. XMR can be exchanged for Bitcoin, Ethereum or USD on the crypto-exchange Bitfinex*..

Step 1: buying Bitcoins (optional)

If you already have Bitcoin you can skip this procedure.

The easiest way to buy Bitcoin is via Coinbase*. Just register on Coinbase. The registration is free and is completed within 3 minutes. However, for purchasing Bitcoin e.g. by credit card, the account must be verified.

Before buying Bitcoins, Coinbase has to carry out another security measure: the verification of one's own identity. This is another hurdle, but also a further safety feature when purchasing Bitcoin. After clicking on "Buy / Sell" a verification is offered by Netverify. The verification itself works very easily:

Identity card, passport or driving license
ID card in front of the webcam
Wait 1-2 minutes
That's it!

Tip: if a webcam is not available, a verification by smartphone also works very easily. Download the Coinbase app (iOS or Android) and capture the ID document via smartphone.

Further instructions: Buying Bitcoins

To the detailed review: Buy Bitcoins with Coinbase

Step 2: account on Bitfinex.com

Bitfinex Bitcoin / Crypto Currency Exchange

Monero Coins can be traded on the crypto exchange Bitfinex.com*.

By clicking on the link or by specifying the referrer code "o0ui9F5j1e" you save 10% on the trading fees in the first 30 days.

For registration on Bitfinex only an e-mail address and a password are required. If possible, a very secure combination of a number and letter string with at least 8 characters (32 characters would be better) should be entered as password.

After clicking the link in the confirmation e-mail, your Bitfinex account is unlocked.

Step 3: transferring Bitcoin, Ethereum or USD to Bitfinex.com

In the third step, Bitcoins (or Ethereum, USD) are transferred to the Bitfinex account*. For this, select "Deposit" -> "Bitcoin" and copy the exchange wallet address and transfer the Bitcoin to this address. If you have Ethereum or USD on Bitfinex you can also buy Monero via Ethereum or USD. Currently USD deposit on Bitfinex.com is disabled (October 2017).

For example, a random amount of Bitcoins can be sent to Coinbase via "Send". After at least three confirmations, the Bitcoins are credited to the account and can be traded.

Step 4: buying Monero (XMR) on Bitfinex.com

Go to "Trading" and choose the crypto-currency "Monero" and there the trading group "Monero / BTC".

Enter the required amunt of Monero coins in the "Order Form" box and the trade price. After clicking on "Exchange Buy" the Monero Coins are offered for exchange.

If another trader likes to sell Monero coins to the above entered price, the coins will be exchanged. In our test, this took about 1 minute and the Monero coins were credited directly to the Bitfinex account. These can then be checked under "Wallets".

Bitfinex Promo Code: save 10%

With the Bitfinex Promo Code you get a 10% discount on the trading fees in the first 30 days:

Referrer code: "o0ui9F5j1e"

What is Monero (XMR)?

Monero is a crypto-currency, which was introduced in April 2014. The term Monero originates from the artistic language Esperanto and means "coin".

Monero places attaches great importance to privacy and anonymity. Using the CryptoNight protocol, which uses stealth addresses and ring signatures, Monero offers perfect anonymity.

Through stealth addresses, all money transfer from a known address, unlike many other crypto-currencies like Bitcoin, cannot be publicly viewed. This is only possible with the Private Key or a sperate View Key. The View Key can be published and third parties have the option to view the account and the money transactions.

The ring signatures allow mixing of transactions: all transaction are mixed many times, thus tracking of money movements in the blockchain is almost impossible.

The second major advantage of Monero is the scaling: blocks are currently generated (summer 2017) every two minutes while Bitcoin blocks are mined about every ten minutes. In addition there is no maximum of the block size for Monero, but a new block may only be twice the size of the median of the 100 previously generated blocks. This allows a Monero block to grow further and thus taking more transactions. A disadvantage of the ring signatures is, that Monero transaction data volume increases significantly, more than that of Bitcoin transactions, though.

Monero XMR Buy Monero Crypto Exchange Exchange Bitfinex

6.770x Views | 0 Comments

Interesting Articles

Investment

Coinbase Fee Structure: is Coinbase free to use?

Is Coinbase free to use and how much do buying or selling Bitcoins, Ethereum and Litecoin on Coinbase cost?

Coinbase is considered to be one of the largest bitcoin exchanges in the world, even though it supports only 32 countries at the moment. With three payment methods (credit or debit cards, PayPal, and bank transfers), it is important to understand the fee structure in order to properly plan transactions at the platform.

This guide provides exactly that, listing all costs associated with depositing, withdrawing, buying and selling bitcoins at Coinbase.

Reviewing CoinTracking: our experiences with detailed instructions

With this tool you can keep a clear overview of your own crypto-portfolio: current value, profit or loss of trades, balance sheets, realized and unrealized profits, tax returns and much more!

CoinTracking is an innovative management tool for over 5,400 existing crypto-currencies. With this you can check your own portfolio on the desktop as well as using the mobile app at any time. All data can be imported manually, via csv file or automatically via API. The basic version is free. If you intend to manage many trades, we recommend a lifetime account.