Monero (XMR) is a token issued on the Blockchain Network. Through the collective efforts of the Monero development team and community members, the number of applications supporting XMR has been gradually increasing, demonstrating significant potential within the crypto industry. More and more people are becoming interested in Monero. They wish to invest or purchase Monero (XMR), but may not know how to get started. Here, we will guide you through all the information you need to know about purchasing Monero. Regardless of your location, Bitrue can provide you with a simple and secure way to buy XMR.
Where and how to buy Monero
When it comes to purchasing Monero (XMR), users may focus on various factors, such as cryptographic wallets, on-chain protocols, and other complex operations. Fortunately, Bitrue exchange allows you to buy Monero in a simple and quick manner. Just register through the official website or app, verify your identity, set up your payment methods (such as credit cards/debit cards/bank transfers), or deposit cryptocurrencies to your Bitrue wallet for spot trading. The purchased XMR will be stored in your crypto wallet account to ensure asset security. Below is a step-by-step guide on how to buy Monero (XMR) through Bitrue.
Alternative methods to acquire Monero
Apart from directly buying Monero (XMR), what are the alternative methods to acquire Monero ?
Fixed Auto-Investment in XMR
Regularly invest a fixed amount at scheduled intervals in Monero (XMR) digital assets, enjoying both short-term returns and long-term benefits.
Staking XMR
Flexible staking of Monero (XMR) digital assets to earn interest or high returns in other cryptocurrencies.
POW Mining
Monero miners choose mining rigs or cloud mining with high GPU and CPU configurations, configure mining software, select mining pools, and start mining to earn XMR rewards.
Get Monero (XMR) for free
If you have enough time, you can obtain Monero for free through the following methods:
- Invite friends to join the Bitrue coupon event and earn free Monero (XMR).
- Join the Bitrue Rewards Center, participate in ongoing challenges and airdrops to receive free Monero.
- All cryptocurrency airdrops and rewards can be exchanged for XMR through coin-to-coin exchange or spot trading.
How to keep your Monero safe and secure
Once you have purchased Monero, it is crucial to store it in a secure location. Bitrue is a secure, transparent, technologically stable, and user-friendly cryptocurrency exchange. Bitrue allows you to store Monero and other digital assets in the encrypted wallet of your platform account, enabling you to trade, deposit, and withdraw anytime, anywhere.
If you are highly familiar with operating on-chain Monero wallets, you also have the option to store Monero (XMR) separately in a personal encrypted wallet. This wallet serves to keep your Monero secure and accessible, allowing you to send and receive it while maintaining control.
To ensure the security of your Monero, consider the following types of encrypted wallets:
- Mobile Wallets: Store your private key in an application on your smartphone.
- Web Wallets: Third-party-controlled online servers that store your private key.
- Desktop Wallets: Computer programs that allow you to store your private key on a hard drive.
- Hardware Wallets: Physical devices for offline storage of private keys.
Note: Cryptocurrency wallets do not technically store your Monero encrypted assets. Instead, the assets remain on the blockchain, and access is granted using the digital private keys stored in the wallet.
FAQ About Buy Crypto
What is Monero?
Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses on privacy and decentralization that runs on Windows, macOS, Linux, Android, and FreeBSD. Monero uses a public ledger to record transactions while new units are created through a process called mining. Monero aims to improve on existing cryptocurrency design by obscuring sender, recipient and amount of every transaction made as well as making the mining process more egalitarian.
How many Monero are there in total?
The total supply of Monero is 18,446,744 and the Circulating Supply is 18,446,744 .
Why are people buying Monero?
People buy Monero for various reasons. Some view it as an investment, expecting its value to increase, while others appreciate its decentralization and anonymity, seeking to avoid restrictions of traditional financial systems. Additionally, Monero serves as a digital asset with transactions independent of central authorities. Overall, motivations for purchasing Monero include investment, risk diversification, and trust in new digital assets.
Where is the preferred place to buy Monero?
Bitrue exchange, with its secure and stable platform, user-friendly interface, low fees, and high liquidity, stands as the best exchange for millions of users to purchase XMR.
Should I buy Monero?
Deciding whether to buy Monero depends on individual financial goals, risk tolerance, and understanding of the digital asset market. Monero investments involve market volatility and risks, so it's advisable to thoroughly understand its characteristics and market conditions before purchasing. If you have investment experience, can withstand price fluctuations, and are willing to accept potential losses, buying Monero (XMR) may be a suitable investment choice. However, remember that all investments come with risks.
Can I use cash to buy Monero?
Generally, buying Monero digital assets by cash is relatively challenging, as most cryptocurrency exchanges prefer electronic payments or bank transfers.
How much does it cost to buy 10 XMR?
To purchase 10 XMR, the cost in USD would be $1620.
What are the fees for buying Monero?
Bitrue offers the lowest fees across all cryptocurrencies. Check the fee rates for all cryptocurrencies
here.
How to use Apple Pay to buy XMR?
Currently, Bitrue does not support purchasing XMR or adding fiat currency using Apple Pay.
How to use Google Pay to buy XMR?
Currently, Bitrue does not support purchasing XMR or adding fiat currency using Google Pay.
How to use Paypal to buy XMR?
Currently, Bitrue does not support purchasing XMR or adding fiat currency using Paypal.
What can I do with Monero?
You can use Monero to pay for goods and services, invest, transfer and remit, preserve assets, participate in DeFi, donate, and more.
How to sell my Monero?
If your Bitrue wallet does not hold Monero, you need to deposit XMR into your Bitrue account. If you already have XMR, log in to your trading platform account, find the Sell option, usually located on the OTC or market trading page. Enter the quantity of XMR you want to sell, select the selling price, confirm the sell order, and once your XMR is successfully sold, you can withdraw funds to your set bank account or other payment methods.
Can I purchase Monero (XMR) worth 1 US dollar?
In theory, Monero (XMR) can be divided into many units of 1 US dollar each, but on Bitrue, the minimum order amount for XMR is 10 US dollars.
Disclaimer
Cryptocurrency markets are highly volatile and can experience rapid price fluctuations. You are solely responsible for your investment decisions and Bitrue is not liable for any losses you may incur. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information provided on this platform and any associated materials are for informational purposes only and should not be considered as financial or investment advice.