Discover how to buy Monero (XMR) on an exchange you can trust
Getting started with crypto can feel overwhelming, but learning where and how to buy crypto is simpler than you might think.
Monero (XMR) is currently at
A$188.08
A$7.1055 (+3.78%)
Last updated on --.
How can I buy Monero on OKX?
Whether you're new to crypto or an experienced trader, you can buy Monero using the OKX Wallet or Exchange.
Step one
Get OKX
Download the app and sign up in a matter of minutes.
Step two
Fund your account
Deposit funds via bank transfer, credit card, or Apple Pay.
Step three
Choose Monero
Select Monero and buy using your chosen method.
Step four
Receive your Monero
Confirm your purchase and store your Monero in your portfolio.
What's Monero?
Monero is a type of digital money that helps keep your transactions private. Imagine you have a magic wallet that only you can see inside. Monero exists to make sure your financial activities are hidden from others, like a secret handshake. It solves the problem of privacy, allowing you to send and receive money without anyone knowing your business.
How can I buy Monero?
1) Create an account on OKX by visiting the website and signing up with your email. 2) Fund your account using a bank transfer, credit card, or other local payment methods available in the United States. 3) Once your account is funded, navigate to the Monero section and place a buy order by selecting the amount you wish to purchase.
Why do people buy Monero?
People buy Monero for its privacy features, which are useful for keeping transactions confidential. It is popular among users who value anonymity and security in their financial dealings. Monero is widely accepted in various online communities and can be used for private transactions, making it a practical choice for those who prioritize privacy.
Things to know before buying Monero in the United States
In the United States, cryptocurrencies like Monero are legal, but you must comply with KYC and AML regulations, meaning you'll need to verify your identity. Tax implications include reporting capital gains if you sell Monero for more than you paid. It's important to keep records of your transactions for tax purposes and consult a tax professional if needed.
What are other ways to own Monero?
You can obtain Monero through methods like participating in airdrops, where free tokens are distributed, or by joining Learn-and-Earn programs that reward you with Monero for completing educational tasks. Some platforms offer rewards for staking or providing liquidity, but these require effort and understanding of the risks involved.
How can I store my Monero?
To keep Monero safe, you can use custodial wallets, where a service holds your coins, or non-custodial wallets, where you control them. Hot wallets are online and convenient but less secure, while cold wallets are offline and safer. Always back up your wallet, keep recovery phrases secure, and consider proof of reserves to ensure your assets are protected.
Why should I buy Monero on OKX?
Learn more about the security measures keeping your Monero safe and readily available.
Proof of Reserves
Our 1:1 reserve ensures your funds will always be available to you.
High liquidity
Our high trading volumes mean deeper liquidity and smoother execution for you.
Transparency
We ensure historical market data is available to you at all times.
Security
We adhere to the strictest global security and compliance standards.
Learn more about how to buy Monero (XMR)
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Why Joining X Drops Club?
The OKX X Drops Club is an elite, members-only hub within the global OKX exchange. It functions as a curated gateway, providing streamlined access to token airdrops and exclusive reward campaigns dire
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How to get Monero for free
Invite friends, earn rewards
See how you can get free Monero when you invite friends to trade with you.
Earn APY on your crypto
Earn interest down to every dollar and watch your Monero grow, for free. Put your crypto to work, 24/7.
See what you can do with your crypto
Now that you’ve mastered the art of buying crypto, check out its potential.
Trade Monero
Take advantage of price fluctuations and trade your Monero for other cryptocurrencies.
Send Monero
Send your Monero anywhere, anytime with fast, low-cost transfers.
Spend Monero
Use your Monero to pay for goods, services, and experiences seamlessly.
Hold Monero
If you think your Monero will increase in value, you can hold onto it.
Sell Monero
Convert your Monero to cash quickly and securely.
How to buy Monero (XMR) FAQ
Depending on where you’re located, you can use bank transfer, credit/debit card, or Peer-to-Peer. Read our guide on how to use these different payment methods to buy Monero XMR safely on a trusted exchange like OKX.
Choose the best exchange to buy Monero (XMR) depending on your individual needs. Factors to consider when picking the best place to buy Monero (XMR) include: security measures, platform transparency, fees, and efficient transaction processes. First-time beginners can consider trusted exchanges such as OKX.
Countries and regions differ on how digital assets transactions and holdings are taxed and how they view digital assets in general (money, property, commodity). In general, it is expected that you will pay capital gains tax when selling or swapping Monero. Refer here for a more detailed guide.
There are exchanges that offer users privacy and do not require verification to complete transactions. However, it is important to exercise caution as such exchanges might be more prone to fraud.
Use a trusted, centralized exchange such as OKX, which offers the ability to buy and sell Monero (XMR), as well as fiat withdrawal options.
This depends on the method you use to convert Monero (XMR) to cash. Withdrawals to a bank can take one to three working days to process, while withdrawals to a debit card can be almost instantaneous.
Disclaimer
This is provided for informational purposes only. It is not intended to provide (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances. Not all products are offered in all regions. For more details, please refer to the OKX Terms of Use and Risk Warning. OKX Web3 Wallet and its ancillary services are subject to separate Terms of Service.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.