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.
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