Where to Buy Monero: Best Exchanges to Buy XMR

Where to buy Monero

Below are the popular crypto exchanges based on user experience,security,fee structure and supported coin, that you can use to purchase Monero (XMR) in 2022.

Before moving forward i want to make it clear that the ranking of these exchanges are in no particular order. With that in mind - Let’s explore these crypto platforms one by one so that you can select the best cryptocurrency exchange to buying your Monero.

1. Binance

Binance gets a lot of things right for traders who wish to focus solely on cryptocurrency. A diverse range of popular cryptocurrencies should appeal to everyone save the most passionate crypto fans.

Low trading costs and volume reductions should entice more active traders, especially because fees elsewhere are far higher.

Newer investors who want customer service may find a better match elsewhere, particularly if they intend to trade other stocks or crypto as a sideline.

Based on what has been discussed so far, Binance is unquestionably the premier Cryptocurrency Exchange, with low costs and excellent digital currency support.

Binance Pros

• Over 365 coins are available for trading on a global scale.
• A diverse range of trading options and order types are available.
• Low transaction costs.
• Payment options are supported in a variety of ways.

Binance Cons

• The platform is complicated and may be confusing for some people.
• U.S exchange is more limited than others.
• Binance has ran into regulatory issues in a number of nations.

Getting Started with Binance

Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward, and you do not need to verify your account for level 1, which has a daily withdrawal limit of 2BTC.

For level 2, which enables up to 100BTC every day, you must upload a picture ID and wait for approval. There are still greater restrictions, but you must contact them personally to arrange for them.

Follow the steps below to open a Binance account:

Step 1: Visit the Binance Website

Step 2: Click on the “Register” option in the upper right-hand corner and complete the relevant information. Binance will validate your account details throughout the registration process, which may take a few minutes.

Step 3: Enable 2-Factor Authentication.

Step 4: Select and Link you payment Methods.

Step 5: Deposit and Start trading.

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2. OKX

OKX is clearly one of the more prolific exchanges on the market. However, the platform's past conduct, particularly how it handled its own users, has been recognized, and it would be smart to anticipate better behavior in the future.

Aside from that, OKX provides a one-stop shop for cryptocurrency trading and investment. OKX costs are in accordance with industry norms, and the exchange claims that it has never been hacked, despite reports to the contrary circulating on multiple occasions.

At the end of the day, OKX is a top 30 exchange with plenty of liquidity - clearly, the exchange is doing something well since it is there.

OKX Features

OKX cryptocurrency exchange is one of the most popular and functional tools for full-fledged work with digital assets today. The platform provides a remarkable collection of currencies, intriguing alternatives, speedy withdrawals, and a high level of system security.

1. OKX is a major cryptocurrency trading platform with a one-stop shop.
2. It is user-friendly and offers an easy-to-use interface.
3. This platform is suitable for both novice and experienced traders.
4. OKEx accepts 30 fiat currencies, including the US dollar, the Chinese Yuan, the euro, and others.
5. It accepts 17 payment methods, including VISA, MasterCard, and others, for acquiring cryptocurrency.
6. OKX's fiat gateway allows customers to purchase crypto for as little as 0% in transaction fees.
7. The spot trading function offers an order book with great liquidity and low spreads.
8. On the perpetual swap and future markets, users may trade cryptocurrency with up to 100x leverage.
9. It prioritizes security and employs offline cold storage methods.
10. The OKX app is also available for phones running Android and iOS.
11. Other apps, such as referral and affiliate, reward users for referring new members to this site.
12. The support system is extremely efficient and can be accessed in a variety of languages.

How to buy Monero on OKX

Follow our step by step guide below to start buying Monero (XMR) on OkX Exchange:

1. Log in to your OKX Account.

2. Under the "Buy" tab, choose the fiat currency you wish to use and Monero from the dropdown menu. Then, enter the amount of fiat cash you wish to spend or Monero (XMR) you want to purchase.

3. Select your desired mode of payment (Credit Card, Bank Transfer or Crypto).

4. Your bought Monero will be instantly deposited to your OKX account after payment is completed.

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3. Gate.io

Gate.io is a Cryptocurrency exchanges platform that allows you to trade Bitcoin, Litecoin, Eth, and other blockchain assets. Within a few years, the exchange acquired global traction and is today available in virtually every country on the planet. However, the platform is presently not active in China, and its registered office has been relocated to Virginia, USA.

This trading platform not only supports over 800 main cryptocurrencies with over 1,000 trading pairings, but it also offers spot trade and margin trade. It has also expanded its offerings to include ETFs, options, futures, and derivatives for investors. It is primarily a platform for professional traders. Beginners with minimal expertise, on the other hand, will benefit from this platform as well.

Getting Started with Gate.io

Creating an account on Gate.io is pretty simple and straightforward, just follow these simple steps below.

Step 1: Go to the official Gate.io website and click Sign Up.

Step 2: On the next screen, enter your email address, and create a password.

Step 3: Next: You must generate a fund password (This password adds an extra layer to your security as without this key no one can withdraw funds from your account).

Step 4: You will be prompted to confirm your email address.

Step 5: Once you've verified your email, you can simply Login to the site and begin trading!

Note: Due to changing regulations, You might need to go through a KYC process to verify your identity.

How to buy Monero on Gate.io

Follow our step by step guide to buy Monero (XMR) on gate.io:

1. Log in to your Account on Gate.io.

2. Click Buy Crypto fro main menu located at top bar. Here you will find three ways to buy XMR coin (Credit card, Bank Transfer, P2P Trade).

3. Enter the purchase amount in USD. Now select/search Monero from dropdown menu.

4. Incase of Credit card, gate.io offer multiple processing partners, select the one that offer services in your country.

5. Accept the terms and conditions and click Purchase.

Now you are Proud investor in Monero (XMR).

If you want to buy Monero with another cryptocurrency. First, Transfer that currency into the Gate.io exchange using Deposit method after that go to the market page, search for XMR and buy it using your deposit cryptocurrency.

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4. Kraken

Kraken is a well-known cryptocurrency exchange owing to its numerous features and top-tier security. Kraken is a perfect exchange for anybody, whether you are a rookie investor, an experienced day trader, or an institutional customer, since it supports over 50+ cryptocurrencies, 7 fiat currencies, and extra services.

Getting Started with Kraken

The first step in using Kraken's services is to create a Kraken account.

Step 1: Make sure you're on the official Kraken website.

Step 2: In the upper-right corner, click the Create Account button.

Step 3: On the signup form, provide your email address, a username, and a secure password.

Step 4: Read their Terms of Service and Privacy Policy, check the box that says "I accept," and then click the Create account button.

Step 5: An activation email with an activation key should be sent to you.

Step 6: Enter your activation key on the account activation form, or complete the process by clicking the link in the email.

Step 7: Confirm your password, fill out the captcha if prompted, and then click the Activate Account button to proceed.

Step 8. Congratulations! You have successfully established your Kraken account and are now ready to begin.

How to buy Monero on Kraken

Buying Monero (XMR) on Kraken is quite simple and straightforward.

1. Using the Buy Crypto button at the top of the page, pick the 'Buy' option.

2. Enter the name of the asset you want to purchase in the search area (in our case it is Monero). You may also go through the list of accessible crypto assets.

3. Enter the amount of cash you wish to spend, or use the toggle button to enter the amount of Monero you want to buy. Check that you have selected the right "Pay With" method before clicking the Preview button.

4. A confirmation screen will appear, displaying the asset volume being purchased, the stated asset price, fees, and the purchase cash amount.

5. If everything appears to be in order, click Submit Order to finish the order.

6. When buying with a debit or credit card, further validation with 3D Secure will be required.

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Other Exchanges to buy Monero

Aside from using above popular platforms, there are variety of smaller cryptocurrency exchanges where you can buy XMR.

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Conclusion

Choosing the best cryptocurrency platform for Monero (XMR) might be a difficult task, there are various factors that one should consider before selecting a crypto exchange. These include the fees structure, security, exchange features, and whether it is based on fiat or crypto.
Remember, once you have shortlisted some exchanges, do your research on each of them to identify the most appropriate for you.

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