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Buying Monero: Exploring the Private Side of Cryptocurrency

BUYING MONERO: EXPLORING THE PRIVATE SIDE OF CRYPTOCURRENCYMonero is a privacy-focused cryptocurrency, and it's gaining ground.
This means that you can expect more people to want to purchase the coin and participate in its market.

So how do you buy Monero?

Well, there are a few ways to go about this process but only one of them is truly private.

Monero is a privacy-focused cryptocurrency, and it's gaining ground

Monero is a cryptocurrency that is focused on privacy. It's not as popular as Bitcoin, but it's gaining ground.

The market cap of Monero is $2.8 billion, and its circulating supply is 15.5 million XMR (as of July 2018).

How does one buy Monero?

To buy or sell xmr, you will need to find a crypto exchange that offers XMR trading. Once on the exchange's website, you can search for XMR in their markets section and then click on "Buy/Sell" next to it (or similar). You will then be prompted with options for purchasing Monero with either fiat currency or another cryptocurrency. If buying with fiat currency, select your preferred payment method and enter how much money you want to spend on XMR you should see how much money this will cost in USD/EUR etc., as well as what amount of XMR that equates to based on current market rates; once confirmed by clicking "Place Order," an order ticket will appear showing all relevant details including transaction history if needed later on down the line under "Open Orders."

Buying Monero from a crypto exchange

The easiest way to buy Monero is from a crypto exchange. A crypto exchange is a platform where people can buy and sell cryptocurrencies, as well as trade them for other cryptocurrencies. You can use fiat currency or other cryptocurrencies to purchase Monero, then transfer your XMR into a wallet where you control the private keys (more on this later).

There are many different crypto exchanges out there, but we recommend Binance because it has low fees and high liquidity. However, if you'd rather shop around first before committing yourself to one particular platform then check out our list of best cryptocurrency exchanges here: https://www.bitcoinmagazine.com/articles/best-cryptocurrency-exchanges/.

The drawbacks of buying from crypto exchanges

A major drawback of buying Monero from crypto exchanges is that you'll likely pay a higher price than the current market rate. The reason for this is because exchanges have to make money somehow, and one way they do so is by charging transaction fees (or "taker fees") for each trade you make.

Another problem with buying from crypto exchanges is that it can be difficult to find an exchange with good liquidity the ability for buyers and sellers to easily buy or sell their Monero without causing significant changes in its price and if there's not enough liquidity, then it could take longer than usual for your order to go through (or even never go through).

Offline transactions and other ways to acquire Monero

Monero can be bought from a peer-to-peer exchange, such as LocalBitcoins or Binance. You can also purchase it from a cryptocurrency broker, like Coinmama or CEX.io (which accepts credit cards). You can also mine Monero through solo mining or pool mining, which requires you to download special software and connect your computer to other miners' computers to share processing power. If you don't have the time or resources for this method, there are several exchanges where you can buy Monero directly with fiat currency like USD and EURO or even cryptocurrency like Bitcoin!

If none of these options sound appealing, there's another way: ask someone who already owns some! A friend might be willing to sell some at face value; if not them then maybe family members would help out? If neither of those work out then try searching Google Maps for nearby cryptocurrency meetups where people might show up ready with coins in hand (and if nothing else happens then at least there will be snacks).

You need to research all the options for buying Monero before you buy.

You have several options for buying Monero. You can buy it from an online crypto exchange, you can buy it from a peer-to-peer market, or you can even mine it yourself.

The benefits of buying Monero are that you get to keep your privacy and avoid the hassle of sending personal information to an unknown entity. The drawbacks are that there aren't as many exchanges available for trading Monero compared with other cryptocurrencies like Bitcoin or Ethereum; this means less liquidity in the marketplace, which could make trading difficult if there isn't enough demand for your order at any given time. Another drawback is that there aren't many places where you can spend Monero yet (although this may change soon), so unless someone else accepts payment in XMR then there isn't much use for holding onto them you would essentially be paying someone else's bills with no benefit beyond simply holding onto the coins themselves (which isn't necessarily worth doing).

Risks associated with buying Monero include losing access due to forgotten passwords or private keys being compromised by hackers who steal them during transmission over insecure channels such as email attachments or instant messaging services like WhatsApp; these risks apply equally whether we're talking about purchasing directly on an exchange platform versus through one person's account who wishes only accept payments via PayPal but doesn't want anyone knowing where they live so instead sends out emails asking "Who wants some drugs?"


The bottom line is that there are many ways to buy Monero. You just need to do your research and find the method that best suits your needs. If you want an easy way out, then purchasing from a crypto exchange might be your best bet. But if you want complete control over how much information gets shared with third parties (such as governments or banks), then buying directly from another person might be better suited for your needs.


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