How and Where to Buy Monero (XMR) in the UK
113.90 GBP
| Rank: | 28 |
| Market cap: | 2,067,040,000 |
Abbreviation:
XMR
Blockchain support:
Bitcoin and Ethereum
Features:
Stealth Addresses, Ring Signatures, and RingCT
Creator:
Nicolas van Saberhagen
Website:
getmonero.org
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 is a decentralized open-source cryptocurrency that runs on its own blockchain and allows anonymous transactions. It is based on CryptoNote (ring signatures) technology. Monero is a fork of the Bytecoin cryptocurrency and was launched in 2014. The main difference from many other cryptocurrencies is the inability to track transaction information on the blockchain.
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 XMR coins:
- 1Take a look at our research on the most popular Monero exchanges and choose one that is optimal in your particular case.
- 2Choose your Monero Wallet
- 3Create an account on the selected exchange.
- 4Verify your identity.
- 5Make a deposit using a bank card or any other convenient payment method supported by the exchange platform.
- 6Select your pair: GBP/XMR and indicate how many coins you’d like to acquire.
- 7Press “Buy”.
- 8Confirm your purchase.
Step 1. Choose Monero wallet
Ledger
Ledger was founded in 2014 and is a leading manufacturer of secure cryptocurrency storage devices.
Trust Wallet
Trust Wallet is a mobile app for iOS and Android devices from the developers of the famous cryptocurrency exchange Binance.
Trezor
Trezor Wallet is a physical hardware wallet for Bitcoin digital currency that can function independently of the Internet..
Hardware Wallets
A hardware wallet for cryptocurrencies serves for cold storage of digital assets on a secure physical device, that is, without constant access to the Internet. All of the user's private keys are stored remotely, in the security module (HSM), and are not moved to any servers or into the network at all. The device is usually no larger than a USB flash drive or a bank card, and does not take up much space. It consists of a circuit board, a microcontroller, and a security module. Hardware wallets provide the maximum level of protection for cryptocurrency assets and transactions.
Monero Hardware Wallets: Trezor, Ledger
Software wallets
Cryptocurrency developers provide users with a native cryptocurrency wallet to store and manage XMR. The program is available for download on the official website in the Downloads section. There are versions for Windows, MacOS, Linux. The application supports about 30 languages.
Monero Wallet features allow you to send and receive transactions, as well as control the history of payments and enter frequently used addresses in your contact book.
But the functionality is not limited to this. On the Advanced tab you can find the possibility of solo-mining, verification and confirmation of transactions, the use of RingDB - a tool to increase privacy.
In addition to the official Monero Wallet there are other options for storing cryptocurrency: Mymonero, Cake Wallet, Monerujo etc.
Add your Monero address
There are three main types of addresses used on the network:
- Standard, also called raw. It used to be the only one possible. Mining rewards are sent to it.
Example: 4AdUndXHHZ6cfufTMvppY7JwXNouMBzSkbLYfpAV5Usx3skxNgYeYTRj5UzqtReoS44qo9mtmXCqY45DJ852K5Jv2684Rge - A subaddress, which is mostly used today. It is created uniquely for each new incoming payment in the wallet. Example: 6935a64945fb2a39247f39a4db26165c15ad5f64b55ada08a1b01470030e30b5
- Integrated - for exchanges, companies, etc. Ideal for automated payment acceptance, such as in an online store. Example: 4LL9oSLmtpccfufTMvppY8JwXNouMBzSkbLYfpAV5Usx3skxNgYeYeTRj5UzqtReoS44qo9mtmXCqY45DJ852K5Jv2bYXZKQePHES9khPK
You can see the address in any wallet if you click "Receive".
Step 2. Buy Monero on an Exchange
We have gathered the best exchange platforms that support Monero and listed their main features, pros, and cons.
Exchange Name:
PrimeXBT
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR
Coins Supported:
BTC, ETH, LTC, XRP, LINK, ADA, DOT + 53 others
1. Register
You will also need to activate your account: to do this, go to the email and find the 6-digit confirmation code in the letter from PrimeXBT, which you specify on the site. After that, the system will redirect a new user to a personal account.
2. KYC
Next, you need to verify your identity.
3. Deposit
The account on the PrimeXBT exchange is deposited in Bitcoins. To make a deposit, you can use an address or a QR code by scanning it in your mobile wallet, or you can pay manually through the selected payment system of those supported by the operator Changelly. Mastercard/VISA debit or credit cards are available.
You can buy Bitcoin to transfer to PrimeXBT using cryptocurrency exchangers or exchanges.
Then you need to transfer funds to your trading account. You can do that by pressing the "Add funds to trading account" button in your personal cabinet.
Go to the "Trade" tab to access the terminal with information updated in real time and numerous functions.
After that you need to find the right XMR spot pair and make a transaction for the required amount.
Other Exchanges Guide
Exchange Name:
Binance
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR + 40 others
Coins Supported:
BTC, ETH, LINK, ADA, DOT, BNB, TRX, ETC, UNI, CAKE + 350 others
1. Create an account and finalize the verification process.
2. Go 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.
3. Exchange BTC to XMR and indicate how much you’d like to buy and select your pair. Press “Buy XMR” and confirm your purchase.
Exchange Name:
Poloniex
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR and others
Coins Supported:
BTC, ETH, SOL, DOT + 340 others
1. Create and verify your account.
2. Buy USDT with fiat in the exchange window.
3. Select 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.
Exchange Name:
Kraken
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR and others
Coins Supported:
BTC, ETH, SOL, ATOM, ETC, GMT + 190 others
1. Sign up for an account and verify your account.
2. Deposit crypto or fiat currency into your account and buy BTC.
3. Exchange BTC for XMR by filling out the order form and clicking “Convert”.
Exchange Name:
Crypto.com
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
GBP
Coins Supported:
BTC, ETH, SOL, CRO, LTC, AVAX + 220 others
1. Create an account on Crypto.com and verify it.
2. Make a deposit in GBP to your account.
3. Select 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”.
Exchange Name:
ChangeNow
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR and others
Coins Supported:
BTC, ETH and others
1. Go to the main page and choose XMR as the “you get” currency. Indicate GBP XMR pair and enter your wallet address.
2. Confirm the information.
3. You’ll be redirected to a partner site to finalize the purchase - Simplex or crypto exchange.
Exchange Name:
Bitfinex
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR and others
Coins Supported:
BTC, ETH, SHIBA, AVAX, SUSHI + 175 others
1. Create an account.
2. Make a deposit in fiat using your preferred payment method.
3. Go to the “Trading” section and indicate your pair: USD/XMR. Specify the amount of your order and click “Exchange Buy”.
Exchange Name:
Huobi
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR and others
Coins Supported:
BTC, ETH, DOGE, AVAX, FIL, APE + 620 others
1. Create an account and go through ID verification.
2. Make a GBP deposit to your account.
3. Select GBP in the list of currencies XMR in the list of digital assets. Click “Buy XMR”.
Exchange Name:
Libertex
Deposit Methods:
Cryptocurrency
Credit card
Debit card
Fiat currencies:
USD, EUR and others
Coins Supported:
BTC, ETH and others
1. Create a Libertex account and verify your account
2. Select a payment method and deposit fiat
3. Select XMR from the list of available crypto options, indicate how much of XMR you’re buying, and confirm
Step 3. Withdraw your coins
Withdraw bought on the exchange Monero to your wallet address. Your purchase is complete, have a good deal.
Where to Buy Monero? - Best Exchanges
 | PrimeXBT Review 2022 |
|---|
FUNDING METHODS:
CRYPTOCURRENCIES: 40+
COUNTRIES: 100+
Binance
Payment methods:
Supported deposit currencies: GBP, USD, AUD, CAD, EUR, CNY, RUB, TRY, NGN, UAH
Trading fees:
The margin borrow interest rate for XMR also depends on your level.
Level | Fee |
|---|---|
Level 0 | 0.080000% |
Level 1 | 0.076000% |
Level 2 | 0.076000% |
Level 3 | 0.072000% |
Level 4 | 0.072000% |
Level 5 | 0.072000% |
Level 6 | 0.068000% |
Level 7 | 0.068000% |
Level 8 | 0.064000% |
Level 9 | 0.064000% |
Other fees:
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.
Pros | Cons |
|---|---|
Poloniex
Payment methods:
Supported deposit currencies: USD, CNY, RUB, EUR, JPY, KRW, BTC
Fees:
Limits depend on your account level:
Pros | Cons |
|---|---|
Kraken
Payment methods for GBP:
Supported deposit currencies: GBP, USD, EUR, CAD, AUD, CHF, JPY
Kraken fees depend on the volume.
Volume | Maker Fee | Taker Fee |
|---|---|---|
£0-£50,000 | 0.16% | 0.26% |
£50,001-£100,000 | 0.14% | 0.24% |
£100,001-£250,000 | 0.12% | 0.22% |
£250,001-£500,000 | 0.10% | 0.20% |
£500,001-£1,000,000 | 0.08% | 0.18% |
£5,000,001-£10,000,000 | 0.02% | 0.12% |
£10,000,000+ | 0.00% | 0.10% |
Fees:
Cryptocurrency limits:
Fiat currency limits:
Pros | Cons |
|---|---|
Crypto.com
Payment methods:
Supported deposit currencies: more than 30 currencies, but deposits only in GBP and EUR
Trading fees at Crypto.com are different at various levels:
Pros | Cons |
|---|---|
ChangeNow
Payment methods:
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 XMR 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.
Pros | Cons |
|---|---|
Bitfinex
Payment methods:
Supported deposit currencies: GBP, USD, EUR, JPY, CNH
Crypto to fiat:
Deposit fees:
Limit for minimum deposits and withdrawals: 10,000 GBP
Pros | Cons |
|---|---|
Huobi
Payment methods:
Supported deposit currencies: GBP, EUR, USD, RUB, UAH, KZT
Fees:
Limits:
Pros | Cons |
|---|---|
Libertex
Payment methods:
Supported deposit currencies: EUR
Fees:Limits:
Pros | Cons |
|---|---|
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 GUI
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.
Ledger Nano
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:
Monero Price Chart
The value of Monero today is 113.90 GBP