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It was back in April 2014 that Monero was launched as yet another cryptocurrency, and it has become another of the more popular ones that some people prefer using for a range of different reasons, and it may be one that you are interested in using.
If you have never actually heard or come across Monero though, then what I would urge you to do is to spend as much time as you require reading through the following guide, as by doing so you should very quickly get our head around what is unique about Monero when compared to all other cryptocurrencies.
You will be able to move Monero around just as quickly and just as easily as you can move any other cryptocurrency around and the way you do so is of course by getting yourself a Monero Wallet and then you will be good to go.
If after reading through this guide to Monero you are not convinced it is going to be the ideal cryptocurrency for you to use then there are plenty of other ones you can pick and choose from, all of which you will find fully reviewed throughout this website, so do feel free to have a good look round.
Overview of Monero
To give you as much information as I possibly can do in regards to using Monero, I have managed to track down a very informative and fairly short video that will introduce to you and explain the basics of that cryptocurrency so please watch the video below.
One thing you are going to find out about using Monero is that much like all other crypto and digital currencies all you will initially need to get is a Monero wallet and find an exchange at which to buy and sell any quantity and then you can start to move money around where ever you like.
Where to Buy and Sell Monero
If you are interested into using Monero as the way that you buy goods or service or simply move your money around then below you are going to find an overview of some of the best Monero exchanges that you can make use of, all of which come highly recommended for various different reasons.
The first Monero exchange that I would like you to consider using is the HitBTC exchange, when it comes to buying or selling any quantity of Monero you will not want to have to pay a small fortune in fees and charges, and that is something you will never be faced with doing when you use their exchange.
Whilst there are not a huge number of Monero exchanges available at this current moment in time those that are available to you are going to be offering you a completely hassle free experience and one worth checking out is the Bithumb exchange.
One Monero exchange that is very highly regarded and thanks to its reputation is also one of the most used exchanges is the top rated Poloniex exchange you will have an unsurpassed type of experience no matter when you choose to use their exchange so do consider doing so at any time.
As the Livecoin exchange uses a cold storage type of system for storing customer’s funds then every single transaction you make will be fully secure and protected too and as such they are yet another Monero exchange that comes highly recommended.
Top 10 Monero Exchanges by Currency Pairings
- Overview of Monero
- Where to Buy and Sell Monero
- Top 10 Monero Exchanges by Currency Pairings
- Featured Digital Currency Exchanges
- Frequently Asked Questions
- When will Monero increase in value?
- Which Monero Wallet is best?
- Can I exchange Monero for Any Currency?
- Is it possible to pay for Monero using a credit card?
- How frequently must I use Monero?
- Is the Monero system completely seamless?
- Are Monero users given access to a support service?
- Are peer to peer Monero exchnages available yet?
- Are there plenty of wallets available?
- How much Moreno do I have to buy?
- Can I pay for services with Monero?
You shouldn’t experience any problems being able to either buy Monero with any currency you have available to you or to sell and turn your Monero holdings in any currency you like too.
Below however I have put together a listing of the top 10 Monero currency pairings and will also be introducing you to the best Monero exchanges at which you are going to be able to turn the selected currency into Monero or vice versa too.
- XMR/USD – The Kraken exchange is the number one Monero exchange in regards to the volume of Monero exchanged and turned into USD. By virtue of the fact on average they have a volume of around 1.01% of all transactions performed in regards to turning Monero into US Dollars.
- XMR/KRW – It is the Bithumb digital currency exchange that is the most popular one by users of Monero who wish to turn their Monero holdings into KRW. A recent review of the volume of transactions made in those currencies revealed they had a volume of 28.48% of all related transactions performed for turning Monero into South Korean Won.
- XMR/BRL – With an average volume of 0.01 of Monero transactions over a 24 hour period, if you are looking for a digital currency exchange that can turn your Monero into BRL then one to consider is Braziliex. They are going to allow you to seamlessly exchange any volume of Monero holding and turn it into Japanese Yen via their established and reliable exchange.
- PLN/XMR – If you are looking for a Monero exchange on which you can turn PLN into Monero then based on the daily volumes of transactions one you should consider using is CoinRoom for they had, when I checked, a volume of 0.07 of all related daily transactions, therefore making them the most popular exchange for those two currencies pairings.
- LTC/XMR – There are many people it would seem who wish to turn Litecoin into Monero, and if that is something that you are interested in doing then the Poloniex digital currency exchange is the one that has the largest volume of daily trades on those two currencies. They handle on average, at the time of compiling this guide around 0.09% of related daily Monero transactions.
- XMR/EUR – Many people are looking to trade Monero for Euro and vice versa, and the Kraken exchange is one of the exchanges that do handle a very large amount of those currency pairing transactions each day of the week. In regards to their share of Monero related transactions each day they handle around 1.39% of such transactions.
- DOGE/XMR – Exchanging DOGE into Monero is going to be a breeze if you use the Cryptopia exchange, and you will of course be able to do an exchange the other way around too at that digital currency exchange. They do handle a huge volume of daily Monero exchanges and that volume is on average around 0.01% of all of those Monero related transactions performed over a 24 hour period.
- ETH/XMR – Ethereum maybe a currency you use a lot and if so if you wish to exchange any volume of that currency into Monero then the HitBTC exchange is probably going to be the one you should make use of. In regards to daily transactions performed in regards to those two currencies they process the largest volume of transactions at 0.43%.
- GBP/XMR – Whilst the number of people who wish to exchange GBP into Monero is not as high as the number of people exchanging other currencies, there are still many people who do so each day. If you do wish to perform such an exchange then with a volume of 0.01% of all such transactions performed each day, Cryptomate are the digital currency exchange that does handle the most transactions.
- XMR/USDT– USDT can be exchanged and turned into Monero at the HitBTC exchange, and they do have a reasonable amount of such transactions performed each day, with their daily average volume of related transactions being some 14.56%, and as such you should not experience any problems performing such transactions on their exchange.
You will not just have the option of buying or selling Monero and turning it into any of the currencies listed up above for Monero can be exchanged or bought with absolutely any worldwide fiat currency or digital currency too.
But one thing worth knowing is that every single Monero exchange will offer a different level of service and will also charge a range of different fees and charges too, so try and avoid paying too much via those fees and charges when you wish to perform any type of Monero currency exchange.
Featured Digital Currency Exchanges
As you are no doubt discovering there are going to be more than enough different digital currency exchanges that you can choose to use and each of them will be offering you a different level of customer service, and in some instances you will also find a range of different features available at some exchanges too.
Bitfinex is another of those currency exchanges and having used them myself and having known quite a number of people who have also used their services I am happy to let you know they do offer a seamless service, and you are going to be able to exchange your digital currencies whenever you like using their very easy to use exchange.
Also if you are not the type of person who wants to see the value of your digital currency being reduced due to fees and charges then Bitfinex should be an exchange you have high up on your list of preferred exchanges, for their fees are very low and reasonable.
At the end of the day though it will be your decision and your decision alone as to whether they are going to be the one you use, and with that in mind consider looking over the Bitfinex website to find out more about what their exchange is offering you.
Coinone is a fairly new digital currency exchange that you may be interested in signing up to and using, and if so then there will be quite a number of different benefits coming your way when you do so, and as such please do read on to find out what they have to offer you.
What I have found when using Coinone is that you are not going to find it either time consuming to exchange your digital currency and they can handle both small and large volumes too, so you can exchange any amount of digital currency you want to exchange.
One thing you should always ensure you have is a range of different currency exchanges at your disposal, as that way you are never going to experience any delays or problems in regards swapping your digital currencies whenever you need to.
It is also important that you are going to have as many ways of exchanging your currency such as either online or using any type of mobile device too, and that is something that you will always be able to do at Coinone, their website is where you will find a complete overview of their services so do check it out.
Frequently Asked Questions
I hope you now do have a much clearer understanding of using Monero, but if you do have any additional questions related to using it then please do spend a few additional minutes reading through this final section of my guide, for below are the answers to some of most asked questions related to Monero.
When will Monero increase in value?
Monero can also rise and fall in value for plenty of additional reasons, including any major worldwide events or incidents, and as such when using it as an investment you should always be looking to purchase Monero when the price is low and not when it is high in value of course.
Which Monero Wallet is best?
Can I exchange Monero for Any Currency?
Therefore there will be no shortages of fiat currencies that you are going to be able to exchange your Monero coins for or will be able to buy Monero coins with, but as is always the case it will be the digital currency exchange you use that will determine the fees and charge you will have to pay for your transaction.
Is it possible to pay for Monero using a credit card?
Debit cards when used by anyone wishing to make a purchase of Monero will see the owner of that card having to register and possibly go through a verification procedure when using a digital currency exchange that is to ensure it is the owner of the card that is making the purchase.
How frequently must I use Monero?
There is no minimum trade you are going to be required or forced to do either, so it will of course be up to you and you alone as to when you do decide to use Monero but by signing up you will then be able to use them whenever the need arises.
Is the Monero system completely seamless?
The entire service you will be accessing when you do start to use Monero has been designed with the end user in mind, so there are no technical abilities or any special skills you will need to be able to use Monero.
Are Monero users given access to a support service?
Some of the major Monero currency exchanges will also offer on their website a range of help guides that may answer your questions, and some of the larger ones may also offer a user forum which is often where any questions you do have will be answered.
Are peer to peer Monero exchnages available yet?
However, do keep in mind that if you choose to use Bitcoin as your preferred digital currency of choice then there is the LocalBitcoin exchange that will match you up with people nearby where you are so you can perform an exchange in person with them.
Are there plenty of wallets available?
Whilst the vast majority of them offer a fairly standard yet very highly secure way of storing any quantity of Monero coins, do keep in mind that some of the more advanced wallets do have some additional features attached and associated with then so pick your wallet wisely for the maximum flexibility.
How much Moreno do I have to buy?
With that in mind you should always try and figure out just how much Moreno you wish to buy and then make a point of shopping around for the Moreno digital currency exchange that is going to offer you the very lowest exchange rates and the lowest transaction fees too.
Can I pay for services with Monero?
Monero is also one of many crypto currencies that investors are looking at as a way to cash in from the very volatile money markets, however do keep in mind that there are always going to be risks in regards to the volatility and price of Monero and any other crypto currency too for that matter.