How to Buy Monero (XMR) in the UK
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The crypto market is becoming one of the most popular mid-market cap investment choices in the UK. It is capable of bringing unimaginable profits to those who invested in the right coin at the right time.
Many professional British traders are looking to invest in a secure alternative coin with favorable forecasts that can offer what other popular coins such as Bitcoin cannot - high security and anonymity features. That is where Monero (XMR) comes into play. If you are interested in buying Monero in the UK - follow our guide and get all the answers.
What Is Monero (XMR) and Why Should You Buy It?
Monero XMR is considered the leader of privacy-oriented coins that gained worldwide popularity due to its unique features. It is different from Bitcoin BTC and other well-known crypto coins due to the advanced cryptography and fungibility that XMR provides.
Monero blockchain protects the user from being disclosed to other parties and guarantees the highest anonymity possible. It uses ring signatures, stealth addresses, and RingCT technology that makes your transactions confidential at all levels.
How to Buy Monero in the UK: Step-By-Step Guide
As a general rule, here is what you should do if you want to purchase XRP coins:
- 1Take a look at our research on the most popular Monero exchanges and choose one that is optimal in your particular case.
- 2Create an account on the selected exchange.
- 3Verify your identity.
- 4Make a deposit using a bank card or any other convenient payment method supported by the exchange platform.
- 5Select your pair: GBP/XMR and indicate how many coins you’d like to acquire.
- 6Press “Buy”.
- 7Confirm your purchase.
Where to Buy XMR in the UK: The Best Exchanges
We have gathered the best exchange platforms that support Monero and listed their main features, pros, and cons.
Supported deposit currencies: GBP, USD, AUD, CAD, EUR, CNY, RUB, TRY, NGN, UAH
The margin borrow interest rate for XMR also depends on your level.
For pair XMR/BTC, the minimum trade amount is 0.001 XMR. The maximum market order amount is 3447.71592639 XMR. The maximum order size is 0.0001 BTC.
How to buy XMR on this exchange:
- 1Create an account and finalize the verification process.
- 2Go to “Funds” to make a deposit. Remember, it is not possible to buy Monero with a credit card. Therefore, you can buy BTC that you will exchange for Monero.
- 3Exchange BTC to XMR and indicate how much you’d like to buy and select your pair. Press “Buy XMR” and confirm your purchase.
Supported deposit currencies: USD, CNY, RUB, EUR, JPY, KRW, BTC
Limits depend on your account level:
How to buy Monero in the UK on this exchange:
- 1Create and verify your account.
- 2Buy USDT with fiat in the exchange window.
- 3Select the USDT/XMR trading pair and indicate the amount of coins. With the open order, you will have to wait until a new sale on your indicated terms becomes available.
Payment methods for GBP:
Supported deposit currencies: GBP, USD, EUR, CAD, AUD, CHF, JPY
Kraken fees depend on the volume.
Fiat currency limits:
How to buy Monero in the UK on this exchange:
- 1Sign up for an account and verify your account.
- 2Deposit crypto or fiat currency into your account and buy BTC.
- 3Exchange BTC for XMR by filling out the order form and clicking “Convert”.
Supported deposit currencies: more than 30 currencies, but deposits only in GBP and EUR
Trading fees at Crypto.com are different at various levels:
How to buy XMR on this exchange:
- 1Create an account on Crypto.com and verify it.
- 2Make a deposit in GBP to your account.
- 3Select XMR in the list of crypto options or visit the Monero official website mentioned on crypto.com. Indicate the number of coins desired and click “Buy now”.
Supported deposit currencies: GBP, USD, EUR, CAD, JPY, RUB, AUD, KRW, CHF, CZK, DKK, NOK, NZD, PLN, SEK, TRY, ZAR, HUF, ILS
For credit card purchases via Simplex: 5% for each sale for Simplex charges and 1% for ChangeNow
There are no extra fees for buying MXR with GBP. For instance, if you spend 1,000 GBP, you will get 3.596 XMR with no extra fees.
When you purchase XMR with a bank card, the following limits apply: the purchase must be a maximum of 20,000 USD or around 14,404 GBP. The daily purchase limit is 20,000 USD or around 14,404 GBP, and the monthly purchase limit is 50,000 USD or about 36,010 GBP per person.
Here is how you can buy Monero in the UK on this exchange:
- 1Go to the main page and choose XMR as the “you get” currency. Indicate GBP XMR pair and enter your wallet address.
- 2Confirm the information.
- 3You’ll be redirected to a partner site to finalize the purchase - Simplex or crypto exchange.
Supported deposit currencies: GBP, USD, EUR, JPY, CNH
Crypto to fiat:
Limit for minimum deposits and withdrawals: 10,000 GBP
How to buy Monero on this exchange:
- 1Create an account.
- 2Make a deposit in fiat using your preferred payment method.
- 3Go to the “Trading” section and indicate your pair: USD/XMR. Specify the amount of your order and click “Exchange Buy”.
Supported deposit currencies: GBP, EUR, USD, RUB, UAH, KZT
How to buy Monero in the UK through Huobi:
- 1Create an account and go through ID verification.
- 2Make a GBP deposit to your account.
- 3Select GBP in the list of currencies XMR in the list of digital assets. Click “Buy XMR”.
You might need to wait. When the seller releases your XMR, the relevant transaction is considered complete.
Supported deposit currencies: EURFees:
Below are instructions to buy Monero in the UK on Libertex:
- 1Create a Libertex account and verify your account.
- 2Select a payment method and deposit fiat.
- 3Select XMR from the list of available crypto options, indicate how much of XMR you’re buying, and confirm.
Where to Store Monero?
The best places to store XMR are Trezor Model T, Monero GUI, and Ledger Nano.
Trezor Model T
Trezor Model T is a premium cryptocurrency hardware wallet where you can store most of the available crypto coins, including XMR. It supports the integrated version of the official Monero GUI wallet with enhanced Trezor security features that protect against all forms of hacking and third-party invasions.
Monero Graphical User Interface wallet is the official wallet offered by the Monero community as it was created and maintained by developers-volunteers. Among the key characteristics of this option are downloadable blockchains, advanced ways to send and receive transactions, and excellent functional possibilities for the advanced crypto developers when accessing the official website via the browser.
On the downside of it, the Monero GUI wallet is well-known for bugs and technical issues that may appear from time to time. Therefore, regular, timely updates are a must.
Another offline wallet that offers decent security features and directly links you to the official Monero GUI wallet if needed. The top characteristics are offline password requests, long-lasting battery, easy plugin, and advanced mobile connectivity.
Cryptocurrency Regulations in the UK
If you are looking for an exchange that is 100% legal in the UK and complies with the UK rules, check for the following criteria:
The world’s leading financial analysts, brokers, and crypto custodians predict a significant increase in XMR digital asset price in the next couple of years, making it an attractive investment to make in 2021.
There are plenty of exchanges where you can buy Monero XMR in the UK and store it safely and anonymously in your digital wallet.
What Is the Best Exchange to Buy XMR?
The leading exchanges in the UK where you can buy Monero XMR are Binance, Poloniex, and Kraken.
Where Can I Buy Monero?
At the moment, not every exchange supports Monero XMR trading. You can buy XMR in the UK from Bitfinex, ChangeNow, Binance, Poloniex, Kraken, or elsewhere.
Is Monero a Good Investment in 2021?
The forecasts for Monero XMR are optimistic. XMR is expected to reach 648 GBP in 2023 and 1,000 GBP in 2025, making it one of the best investments in crypto for 2021.
Can Monero Make Your Rich?
Crypto investments in Monero XMR can make you rich if you buy it for cheap at the right time and sell it at the peak of the price. The price prediction for XMR is signalizing a steady growth in the next couple of years, creating a good window of opportunity already this year.
Can Monero Reach 10,000 USD?
According to brokers and investment analysts from Coindesk, the price for XMR will reach a 10,000 USD mark already in the next 3 years.