Is it possible to start buying Monero with cryptocurrency?

Monero is a decentralized and open-source cryptocurrency and blockchain platform created in 2014, with the primary goal of optimizing user privacy. This focus on privacy has won the cryptocurrency an excellent reputation and has helped it become one of the leading digital assets on the market.

Some of the main feature used to enhance anonymity include the use of stealth addresses, which make it very difficult for third parties to track users. It also uses ring signatures that combine a user’s transactions with others to make it virtually impossible for third parties to know which transaction belongs to which specific addresses. These advanced features imply:

• You can send funds anonymously around the globe
• You can save without worrying about third-party seizures

The rising demand for Monero makes it a great investment option because the value is only expected to grow as more people begin to appreciate the importance of privacy when it comes to financial matters.

Click for bitcoin to euro

 converters

How to Purchase Monero Coin Using other Cryptocurrencies

There are many exchanges out there that allow users to buy Monero using some of the top cryptocurrencies such as Bitcoin, Bitcoin Cash, and Ethereum. The main advantage of using other cryptocurrencies to purchase Monero is that the transaction fee is lower compared to when using fiat currencies.

Note that if you only have fiat currency, it is still possible to buy Monero with cryptocurrencies, but you will need to first convert the funds to alternative coins such as Bitcoin or Ethereum using another platform such as Coinbase.

Once you have the alternative coins, you will then need to visit your preferred exchange to buy Monero. Some of the top exchanges include Poloniex, Bittrex, and Binance. To demonstrate the process of buying Monero, we will use Binance. Here are the main steps for buying Monero.

1. Visit Binance website and open a trading account
2. Verify the account with additional personal info and enable the 2-factor authentication.
3. Log into your account to deposits the coins you bought earlier
4. On the Homepage, visit the Exchange tab and pick an appropriate Monero pair such as XMR/BTC and hit buy Monero.
5. The purchased Monero coins will reflect in your account. You should consider moving the tokens to your crypto wallet because it is considered safer than the trading exchange