Buy Monero [XMR]
What is Monero (XMR)?
Monero (XMR) emerged in 2014 after the Bytecoin (not Bitcoin) fork. It’s a decentralized digital asset based on a private blockchain. “Privacy” here means that Monero transactions cannot be traced. The identities of both sides, as well as the amount of transaction, remain hidden. What’s the use of such privacy? The answer is simple – with huge amounts of data placed on public blockchains (for example, Bitcoin and Ethereum), it becomes way easier for the specialized companies and malefactors to define trading and behaviour patterns of users as well as to link online profiles to real-life persons. Therefore, if you don’t want your data to be analyzed for someone else’s profit, and if you want to protect your personal data, using Monero makes sense.
Where and how to buy Monero (XMR)
Before purchasing XMR, get a crypto wallet to store your tokens. Ledger hardware wallets have a great reputation and support Monero.
How to buy Litecoin?
Monero purchasing options (XMR):
Centralized exchanges. On these platforms, there are several ways to buy XMR:
- Buy for assets on your balance;
- Buy for another crypto;
- Buy via credit card.
Besides, you can get XMR via trading. Please note that for withdrawals, KYC verification is required on most of the platforms. On WhiteBIT, withdrawals up to 2 BTC are available without the verification.
What to do with Monero
Crypto exchangers. This method is fast and simple. However, exchangers may apply high transaction fees. If you refer to this method, you should analyze several platforms before proceeding to the exchange. Also, please note that such platforms usually do not have big amounts of crypto in circulation. There are cases when users try to get more crypto than available on the exchanger, and the transaction freezes for an uncertain period.
P2P platforms. This purchasing method is the most profitable yet the riskiest. Here you can get XMR directly from other users avoiding fees. You should always check the users you are going to deal with to avoid scammers.
How to use Monero (XMR):
- Hold. XMR is one of the best private decentralized digital assets. Moreover, in the crypto community, the opinion that XMR will become more valuable is prevalent. Therefore, there is a great chance that holders will benefit even more in the future.
Trade. XMR is widespread and has a good reputation. Some traders successfully speculate the token’s price.