How to Buy Monero (XMR) in 2021 is a beginner’s guide that will teach you what is Monero, how to use it and where to buy it. Monero has become a lot more popular recently in the Dark Net scene due to it’s privacy features it offers to people. XMR by default can not be tracked and fee’s it has made him a great alternative to Bitcoin. In today’s tutorial I will give you a brief overview of what Monero is so you can understand it better before using it as a payment option.
How to Buy Monero (XMR) in 2021 – Quick Guide
If you want to buy Monero fast without reading the rest of the article, please follow the below steps:
- Get a Monero Wallet (Official Monero GUI Wallet, MyMonero Wallet, Cake Wallet)
- Obtain your Monero address and copy it
- Go to Kraken and sign up (verification may be needed)
- (OPTIONAL STEP) If Kraken does not work for you, try LocalMonero
- Deposit fiat money and buy XMR
- Withdrawn Monero to your chosen wallet (step 1)
If you want to learn more about Monero and it’s privacy and possible other alternatives, please keep reading.
What is Monero?
According to Wikipedia Monero is a privacy-focused cryptocurrency released in 2014 by Nicolas van Saberhagen. It is an open-source protocol based on CryptoNote. It uses an obfuscated public ledger, meaning anyone can send or broadcast transactions, but no outside observer can tell the source, amount, or destination. Monero uses different privacy-enhancing technologies to achieve anonymity and fungibility. It has attracted users desiring privacy measures that are not provided in more popular cryptocurrencies. However, it has also gained publicity for illicit use in darknet markets.
What if I can’t buy Monero directly?
If you can’t obtain Monero directly from Kraken or LocalMonero because it may not be available to you for some reason, you can buy Litecoin (LTC) and then exchange it to Monero in CakeWallet. You can also buy Bitcoin (BTC) and exchange it to Monero, but Litecoin has much lower fees so you will end up saving a bit of money doing it this way.
Why use Monero over BTC?
BTC transactions are stored in public ledger and can be easily tracked by someone determined with enough resources like Law Enforcement Agencies for example. If you really value your privacy you should use Monero (XMR). One of the other reasons is that Monero has cheap and fast transactions. Vast majority of transactions cost less than 0.01 – 0.03 USD per transaction.
Monero is one of a few crypto-currencies that actually have a value and that value is the privacy it offers to it’s customers. Monero has proven itself overtime to be useful.
We hope this article helped you understand what is Monero and how to buy it. If you have any questions feel free to ask them in the comments section below.