CEX may ask for a copy of identifying documents like a passport or driver's license. This is a common practice to ensure that the purchaser is not using a fraudulent credit card. They do, however, allow users to purchase Bitcoin with a credit card.Ĭredit card purchases require a KYC verification.
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While CEX has gotten many questions from their clients asking how to buy Monero coin, they have not yet opened up XMR trading. They have a good reputation for security and are one of the more reliable exchanges in the market. CEX is an English exchange which has been operating in the cryptocurrency ecosystem since 2013. Instead, American citizens can use CEX.io to buy Bitcoin with a credit card. Unfortunately, Americans cannot buy Bitcoin on Binance due to regulations. How to Buy With a Credit Card for Americans This is a great option as Binance is a reliable exchange with an intuitive user experience. International cryptocurrency traders, including those who want to buy XMR UK, can sign up for Binance and buy Bitcoin with a credit card via their platform. The safest and easiest way to use a credit card as a payment method for Monero is to buy Bitcoin first, then trade it for Monero. However, larger orders will likely be subject to slippage.Īnother option for anyone who wants to buy the digital currency Monero is to use a credit card for the purchase. For small orders of several hundred dollars this won't matter much. While it's convenient to use dollars without having to acquire Bitcoin first, the problem that some people run into on Kraken is that the trading volume is very low.įor instance, as of publication the XMR/USD pair on Kraken was trading at just 1/20th of the volume of the XMR/BTC pair on Binance. They allow their users to fund their account with dollars via either a wire or bank transfer. Available to everyone in the USA, save for those living in New York, Kraken is a reliable exchange with a long history of reliability. That exchange is Kraken, a San Francisco based outfit. If you would prefer to buy Monero directly there is a cryptocurrency exchange which offers a direct USD/XMR trading pair. Lots of volume means that you'll be able to execute your trades at the price you want. While using this method to buy Monero has some disadvantages, namely trading fees, the advantage is that the XMR/BTC and XMR/USDT trading pairs on Binance are extremely liquid. After you have that you can send it to Binance and then use it to buy Monero. That being the case, first you'll need to acquire some Bitcoin or Ether. Unfortunately Binance does not offer a direct fiat currency trading pair, I.e. Binance offers four Monero trading pairs, including: BTC, USDT, BNB and ETH. Where Do I Buy Monero?Īs is often the case, the cryptocurrency exchange Binance is the best place to buy XMR Monero. Fair enough, but the question a lot of people are asking is how do I buy Monero? The answer is surprisingly simple. So Monero is awesome and you'd like to invest in some. That makes Monero perfect for the person who would prefer that others can't see what they're buying. The same goes for future transactions, it's impossible to follow a coin's trajectory through the blockchain. That makes it fungible: any given Monero is as good as any other.
Since Monero is a private blockchain there's no possibility of tracking a coin's history. At best that tracking ability is harmless, at worst it can create serious problems especially for people living under authoritarian regimes.Įnter Monero, a solution to all of these problems. Then there's the problem of every Bitcoin transaction being traceable, making it easy for people or corporations to follow the funds and see where you've sent your Bitcoin and what you've spent it on. That's the case even if you purchase Bitcoin legitimately and with zero knowledge of its past use. If you receive Bitcoin that's previously been sent through a mixer, or that's been somehow associated with illicit activity, it can make it look like you're associated with the shady transactions. One Bitcoin does not equal another Bitcoin. Bitcoin is great but Bitcoin has a problem: it's not fungible.