How to Buy Monero (XMR)
Looking for a cryptocurrency that offers improved privacy over alternatives? If so, Monero’s cryptocurrency, XMR, may be right for your needs.
XMR offers tech-savvy users a number of features that enhance privacy, and the project has shown a commitment to being among the first to add the latest cryptographic advances. (You can find more details on Monero’s technology and history in our ‘What is Monero?’ guide.)
So, if you’re already sold on Monero, this guide will teach you how to buy XMR on Kraken, the trusted digital asset exchange, taking you from funding your account to executing your order.
Still, if you’re new to the market, you may want to first read our guides on other privacy cryptos like Zcash and Dash, which are both available on our exchange, before buying XMR.
Ready to get started?
If you’re all set to order, click ‘Buy XMR’ below or read on for step-by-step instructions.
Why buy Monero? (XMR)
If you’re a tech lover eager to understand cutting-edge advances in cryptography, XMR may be a cryptocurrency that can capture your imagination and attention.
Likewise, if you’re simply an opportunistic investor who believes crypto users will continue to seek assets with strong privacy, you can place a speculative bet on that future on Kraken.
Consider buying XMR if you’re seeking to
- Conduct sensitive online transactions in which privacy is preferred
- Make it part of a long-term trading strategy
- Experiment with a cryptocurrency with new high-tech privacy advances
- Diversify your cryptocurrency portfolio strategy
Where can I buy XMR?
Sure, you can search online for an individual seller or drive to a crypto-enabled ATM, but the most convenient way to buy XMR might be through a trusted exchange like Kraken.
Kraken is consistently rated one of the most secure and trusted crypto exchanges in the world, and we’re continuously looking for new assets that meet our listing guidelines. This means you’ll be able to buy and sell the market’s latest innovations with ease on our platform.
At Kraken, we take security seriously using battle-tested techniques and procedures that have been proven to protect client funds. We don’t spare expenses on security and we believe you shouldn’t settle for anything less.
How much XMR can I buy?
Don’t have a lot of money to spare? Don’t worry, you don’t need to purchase 1 XMR when you buy. A single XMR is divisible to 12 decimal places, with the smallest unit being the “piconero.”
This means you can purchase fractions of an XMR on Kraken’s exchange. Bigger buy orders are also an option, and it wouldn’t be uncommon for some traders to buy 100 or more XMR. Kraken offers a robust global market and can handle volumes of trades, big or small.
How to buy XMR on Kraken
Verify your account
The easiest way to get started might be to purchase XMR with a currency you already own (like GBP, USD or EUR). However, in this case, you’ll need to provide supporting documents verifying your identity and linking external accounts. For more details about our onboarding process, check out our verification levels documentation.
You can also buy XMR with other cryptocurrencies like bitcoins or litecoins by providing your full name, date of birth, country of residence and phone number.
Deposit crypto or fiat currency
For purchases with fiat currencies, we offer a variety of funding methods depending on where you live and your account preferences. (Before getting started, browse through our support documents to find the best option for you.)
To deposit crypto, you’ll just need to begin by generating a deposit address and sending the funds from your existing wallet to that address.
Once your funds are transferred to your Kraken account, you’re all set to buy XMR. Simply open the New Order page, fill out the order form and click BUY. With your Kraken account, we also provide access to 24-hour global client support, advanced order types, charting tools and leveraged trading options
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying monero, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where to keep your XMR
Monero may be private by default, but that doesn’t automatically make it secure. This means that once you’re done buying XMR, you’ll need to take steps to secure your funds.
The best way to do this is with a Monero wallet, which will allow you to send, receive and store your XMR. There are many types of wallets you can choose from to secure your XMR. The option you select will depend on your security and spending preferences.
Kraken is not a wallet service
However, we should remind you that Kraken is an exchange service and not a wallet service. (Note: We do use Monero’s subaddress format, which has fast become the favored format in the Monero community for its privacy advantages.)
So, while we allow clients to hold funds on our exchange, we recommend you secure your holdings into more than one wallet. After all, it’s never good to keep all of your eggs in one basket, even one protected by the mighty Kraken!