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Top 5 Platforms to Buy Monero

Monero, or XMR, is one of the top 15 cryptocurrencies globally when looking at market capitalization and is a leader in the privacy coin market. It’s known for offering top-notch security and anonymity, as well as high value.

If you’ve been considering purchasing XMR quickly and easily, you are in the right place. The top 5 platforms where you can buy Monero are reviewed below!

Godex

First on our list is Godex, a crypto-to-crypto conversion platform well known for offering among the quickest exchange speeds. It also offers anonymous conversions and an automatic calculator, such as the BTC to XMR calculator.

Advantages

  • It features over 200 exchange pairs.
  • It has friendly customer support and is user-friendly.
  • It has no KYC policy and offers complete privacy and anonymity.
  • It can be accessed from anywhere in the world.
  • It has never been hacked.

Disadvantages

  • It does not allow fiat currency.

Binance

Next, there is Binance, a leading crypto platform well known among most investors and holders. Although it emerged in 2017, it has quickly become one of the largest platforms with hundreds of cryptocurrencies and a mobile application.

Advantages

  • It has over 200 crypto exchange pairs.
  • It can be accessed worldwide with some restrictions in the US.
  • It offers top security.
  • It allows fiat-to-crypto conversions and vice versa.

Disadvantages

  • There have been a few complaints about customer support.
  • It requires a basic KYC procedure.

Poloniex

Another website that features seamless buying of XMR and other digital currencies is Poloniex. The platform is popular for its cheap fees and its extensive range of exchange pairs.

Advantages

  • There is no KYC procedure and it offers excellent customer privacy.
  • There are no issues with its customer support and website navigation.

Disadvantages

  • It restricts access to US traders.
  • It only has 60 crypto pairs.
  • It has been hacked before.
  • It does not allow fiat currency trading.

Kraken

You can also use Kraken to purchase XMR, although it doesn’t provide many crypto pairs. It emerged in 2011, so its reputation is secure among investors.

Advantages

  • It can be accessed from anywhere in the world.
  • It has never been hacked.
  • It features excellent customer support and an easy-to-understand website.
  • It allows for fiat currencies.

Disadvantages

  • It only has 40 crypto pairs.
  • It features a KYC/AML policy, which means less customer privacy.

Local Monero

Finally, there is the Local Monero platform, which you can use to buy XMR. It requires no ID verification and is a peer-to-peer Monero exchange.

Advantages

  • It is accessible from anywhere in the world.
  • It allows for fiat currency.
  • It does not require a KYC procedure.
  • It does not have any security problems.
  • It offers top-notch customer service and user experience.

Disadvantages

  • It only offers Monero.

Each exchange is good in its own way and is a great option to purchase Monero. You simply need to choose the platform that best suits your personal goals.

Final Word

With all these crypto exchanges listed above, you can either purchase XMR with fiat currency, cryptocurrency, or both. The main features that you should consider are security, reputation, fees, website ease-of-use, and accessibility.

If you’re planning on branching out of Monero, it’s best to use platforms with many pairs. If not, stick to the smaller-sized platforms. In conclusion, choose the one that is the ideal match for your individual needs.