What Are The Various Methods Of Buying Monero Cryptocurrency?
Monero is certainly one of the more popular digital currencies. Its price isn’t inflated like Bitcoin, though XMR is certainly worth a lot more than when it was first introduced. It’s considered to be a stealth crypto of sorts, and it can be purchased in many ways. Here are some of the best methods of buying Monero cryptocurrency.
First, you need to understand that while you can use many payment methods, the process of buying Monero is only possible if you have BTC or ETH. You need to buy XMR in either a Bitcoin pair or an Ethereum pair. There are ways to buy both of those digital currencies with various payment methods. Once you have either one of those, you’re going to buy Monero on one of the exchanges with either BTC or ETH.
To go about buying your Bitcoin or Ethereum, there are many platforms to choose from. You can find platforms that accept credit cards, debit cards and transfers from your bank. The debit or credit transaction is going to post quicker, instantly on some platforms. Then you can transfer your BTC or ETH to an exchange to purchase the XMR or Monero.
Binance, Bittrex and Kraken are some of the exchanges where you can buy Monero. Out of those three choices, Binance currently has the smallest fee. What you want to understand, however, is that you’re also going to want a wallet address. You will need to look into the best wallets for storing your Monero. Why would you need to move it after purchasing it on an exchange? It’s for safety reasons.
You don’t want to learn that an exchange was hacked, and your digital currencies are now gone. Especially if you plan on buying a considerable amount of digital assets, you’re going to want the appropriate wallets. You have different types of wallets available to you as mentioned, and you’re going to want to look into your options. It’s about what type of storage you prefer and what types of digital assets you are buying.
You can sign up for digital wallets that store a specific crypto. There is an official Monero desktop wallet, so keep that in mind. Now that you know the methods of buying Monero cryptocurrency, you can cover all your bases. Which platform are you going to use to purchase BTC or Ethereum? Maybe you already have those digital assets, and you just need to pick an exchange for the purchase of XMR. In that case, which exchange are you going to use?
It was mentioned that Binance has the cheapest fees. Realize that you might be charged by your original platform for sending the BTC and/or ETH. For example, Coinbase charges a fee. You’re going to want to know what fees will be involved, and that is going to help you make the best decision about how to buy Monero. Then you will have your Monero stored in your digital wallet and held safely. Pick a method, pick a wallet and you’re ready to go. Follow the London blog for more updates and news at Topcoincryptocurrency.com