Today’s post is based on How To Buy Monero with Cash or Credit/ Debit card ?
As of now most of the people are investing in Bitcoin. It is just because of the popularity of the Bitcoin. Also, the profit growth rate that it gives to traders is also a point of attraction. you can see growth of price in bitcoin rate since 2009. that’s not only the truth.
Most of the advanced traders are investing in others cryptocurrency (Altcoin derivatives of Bitcoin) by seeing the possibility of growth in the market. This possibility depends upon the technical criteria, market trust, reputation, and peoples interest in that cryptocurrency.
Fulfilling this all criteria a cryptocurrency is continuously covering the market of traders. Yes, you guessed it correct it is ‘Monero’.
Recently I have received many questions about how to buy Monero? Or can I Buy Monero by Credit/Debit card, PayPal?
So the answer is Yes!
So in this post, we will see the best way to buy Monero in the cryptocurrency market by using different exchange platform and the methods Mentioned above.
Also, we will see some of the important factors and methods in Buying Monero.
What is Monero ?
Monero is built by keeping some main factors in minds such as Privacy, Decentralization, Public Development, and scalability.
Monero is also considered as the replacement of Bitcoin considering the factor of ‘Privacy’. Currently Monero stands on number 10. It is just the NEM (XEM) currency. If you want information on NEM (XEM) than you can study our NEM post in future.
Monero was launched in the year of 2013. Since than Monero is continuous on the expositional growth track. On 21st May 2014 the price of Monero was around $2.47. Now at the time of writing this post, the price of 1 Monero in 2017 is $378.757 USD.
So the growth is tremendous as you can see. It has gained the total profit of around $376 USD in just 3 years. This is the main reason why all traders are now want to invest in it. So the Monero is getting lots of attention these days.
How to Buy Monero by Credit/Debit card or by using PayPal ?
Here I will take the example of Virewox. It is just because they are the most trustable exchange in terms of trading in Credit/Debit card or PayPal transaction.
First, we will Buy Bitcoin on Virewox with PayPal, Credit/Debit card. You can also Use Visa or Mastercard.
step 1: On step one we will open an account on Virewox. Go to the registration page and create your account.
After the creation of an account, Virewox will send you a temporary password. Use this password and log in after that change the password in ‘change setting’ tab according to you.
In step 2 we will deposit the money into Virewox.
Virewox accepts PayPal, Credit/Debit card as a payment method. It is very easy to do step on Virewox.
Go to the ‘Deposit’ tab on the left side of the screen. Scroll down and you will find the option for Credit/Debit card and PayPal payment options.
Enter your desired amount and the method of payment and press the checkout button. Depending on your selection of the payment method you will be transferred to the respected pages of your PayPal or card.
Buy Linden Coins:
In step 3 trade your currency into Linden Dollars.
Click on the link that lists your currency pair with SLL (EUR/SLL, USD/SLL, GBP/SLL).
Now you will be redirected to a page where you can trade your currency in Linden Dollars. Here you will be having two option ‘market trade’ and ‘Limit trade’. If you agree to sell your currency in Linden Dollars at the highest amount declared at that time than you can select market trade option.
If you don’t want to sell your currency at that price than you can specify your amount by using Limit trade option.
Now trade your SLL into Bitcoin. For that use the previous stage procedure and trade into BTC/SLL trading pair.
Step 5 : In step 5 create your Bitcoin wallet.
https://blockchain.info/wallet go to this link and create your wallet. Set your Email ID and Password.
Click on the ‘Receive’ Button. You will see a pop of your wallet address used for transferring Bitcoin from Virwox.
Step 6: Now transfer the BTC from Virewox to your wallet.
Click on ‘Withdraw’ available under ‘My Accounts’. You will be asked your Bitcoin wallet address. Copy and paste the address of your wallet that you had generated just now.
Transferring Bitcoin From a new Virewox account can take up to 48 hours. Once your order is done you will be notified by the confirmation email.
Now, this is our part one of the whole procedure. After that in this part, we will trade Bitcoin with monero with different exchange platform examples.
How to Buy Monero by Shapeshift ?
Step 1: Now create a Monero wallet. https://mymonero.com you can use this link to get a 95-character Monero wallet so that exchange platforms can send your Monero’s back to you.
Step 2: Now to the official site of shapeshift and select your coins to trade. Select Bitcoin as Deposit and Monero as Receive. Click on the Continue button.
Step 3: Now fill the all required details. After clicking on the continue button shapeshift will ask you for your Monero and Bitcoin addresses.
I would like to inform you that here Bitcoin address is optional but recommended as in the failure of your transaction shapeshift will return your Bitcoin to the provided address. Leave the payment ID field blank and click on the terms and condition. Finally after than click on the ‘start transaction’ button.
Step 4: After some minutes you will see an ‘Awaiting Deposit’ pop up. It indicates that Shapeshift is ready for you to send them some Bitcoin. There only you will an address, saying ‘Send to this address’. This is a Bitcoin address that shapeshifts created for your trade.
Copy the address and go to the Blockchain.info/wallet.
Step 5: Now in the last step, we will transfer the fund from BTC wallet to shapeshift.
After that, you came back to the Blockchain.info/wallet click on the “send” button. Paste the address that you copied just now into the ‘Recipient” box. Enter the desired amount of Bitcoin to send into the “Amount” box. Click on the blue color “Send Funds” button.
Click on the “Confirm” button that appears from Popup. Finally, your Bitcoin to Monero transaction is done here now on Shapeshift.io
How to Buy Monero with cash?
You can purchase Monero directly with USD on Bitfinex. No ATM’s support Monero.
You will have to first buy some Bitcoins from cash. Then you can trade your Bitcoin into Monero as mentioned above.
Which Exchange platforms can be used for Buying Monero ?
Poloneix, Bittrex, and Bitsquare.
You can Buy Monero on Poloneix, Bittrex, and Bitsquare. For doing that follow their instructions for setting up an account. Deposit the Funds.
Prices may vary platform to platform. Sometimes you will see a huge price difference in between platforms. If you are not interested in trading Monero than shapeshift will be a good option as a platform that temporarily guarantees a certain purchasing price.
Bitfinex has started trading for Monero(XMR)/BTC and XMR/USD pairing from 30th November 2016. Making it the first exchange platform where you can trade in monero by fiat currency.
What is the Best way to Buy Monero ?
See for me personally I have mentioned all the best method that you can use to trade in Monero. If you want to buy monero with Credit/Debit card or by PayPal then you can go for Virewox. If you are interested buying Monero in fiat currency than you can go for Bitfinex with the trading pair of XMR/USD.
In the starting, very few exchange platforms were supporting Monero. As Monero has succeeded in gaining attention in very quick time. The Price of Monero is also increased rapidly since last year. All these reasons made many exchange platforms to support Monero. Sometime before there fewer options available for users to buy Monero directly with cash. Bitfinex has broken that chain.
So yes Monero is a best option to invest in with Virewox, Bitfinex, poloneix and etc.
That’s all for “how to buy Monero?” I hope this post will help you to trade in Monero.
if you have any difficulties write it down in the comment section and let me know. please like and share this post with your friends and family.