Monero ($XMR) is a privacy-focused cryptocurrency that offers unparalleled anonymity and fungibility in the digital currency space. Purchasing Monero can be done through a variety of platforms, each with distinct characteristics in terms of security, convenience, and privacy. In this guide, we’ll evaluate platforms based on:
- KYC Requirements: Assessing the level of identity verification required.
- Fees: Reviewing maker/taker fees or flat transaction rates.
- Liquidity and Ecosystem Cooperation (LE Co-op): Evaluating the platform’s integration and user support.
Here’s a summary table to help you choose the platform that aligns with your priorities:
| Platform | KYC Requirement | Fees | LE Co-op | Description |
|---|---|---|---|---|
| Kraken | High | 0.16%-0.26% | Very High | Trusted centralized exchange with fiat-to-crypto trading and strong security features. |
| KuCoin | Moderate | 0.1% | Moderate | Centralized exchange with a user-friendly interface and wide crypto support. |
| MEXC | High | 0.1% | High | High-liquidity centralized exchange with low fees. |
| ChangeNOW | Low | 0.5%-1% | Low | Instant exchange for small crypto-to-crypto swaps without registration. |
| Changelly | Moderate | 0.25% | Moderate | Simple cryptocurrency swap service. |
| SimpleSwap | Low | 0.5%-1% | Low | User-friendly platform for swapping a wide range of cryptocurrencies. |
| Bisq | None | 0.5% | Unknown | Decentralized, peer-to-peer exchange with no KYC. |
| Haveno | None | 0% | Unknown | Decentralized exchange exclusively for Monero. |
| Infinity Exchanger | None | 4% | None | Instant exchanger with hidden service support. |
| xchange.me | None | Varies | None | Instant exchanger with no JavaScript required and hidden service availability. |
| Godex.io | None | Varies | None | Requires JavaScript but offers reliable service for quick cryptocurrency swaps. |
| Flyp.me | None | Varies | None | Another instant swap service requiring JavaScript for its operation. |
| Tradeogre.com | None | Low Volume | None | A no-frills exchange without KYC but lacks fiat gateway support. |
| Bitfinex.com | High | 0.10%-0.20% | High | A prominent exchange with a fiat gateway, suitable for advanced traders. |
| Poloniex.com | High | 0.145%-0.155% | High | Offers a solid trading experience, albeit without fiat support. |
| Trocador | None | 0.5%-1% | None | A privacy-centric platform for anonymous crypto swaps. |
Platforms for Buying Monero ($XMR)
Kraken
- KYC: High
- Fees: 0.16% Maker, 0.26% Taker
- LE Co-op: Very High
- Description: Kraken is a well-established, centralized exchange offering fiat-to-crypto trading with robust security features and multiple trading pairs.
- URL: Kraken
KuCoin
- KYC: Moderate
- Fees: 0.1%
- LE Co-op: Moderate
- Description: KuCoin is known for its user-friendly interface and extensive cryptocurrency support, making it a popular choice for traders.
- URL: KuCoin
MEXC
- KYC: High
- Fees: 0.1%
- LE Co-op: High
- Description: A centralized exchange with high liquidity and competitive fees, MEXC supports a wide range of cryptocurrencies.
- URL: MEXC
ChangeNOW
- KYC: Low
- Fees: 0.5%-1%
- LE Co-op: Low
- Description: ChangeNOW offers instant crypto-to-crypto swaps without requiring registration, ideal for small transactions.
- URL: ChangeNOW
Changelly
- KYC: Moderate
- Fees: 0.25%
- LE Co-op: Moderate
- Description: Changelly is a straightforward service enabling cryptocurrency swaps between a wide range of assets.
- URL: Changelly
SimpleSwap
- KYC: Low
- Fees: 0.5%-1%
- LE Co-op: Low
- Description: SimpleSwap provides a user-friendly experience for swapping cryptocurrencies with minimal hassle.
- URL: SimpleSwap
Bisq
- KYC: None
- Fees: 0.5%
- LE Co-op: Unknown
- Description: Bisq is a decentralized, peer-to-peer exchange with no KYC requirements, perfect for privacy-focused users.
- URL: Bisq
Haveno
- KYC: None
- Fees: 0%
- LE Co-op: Unknown
- Description: Haveno is a decentralized exchange exclusively for Monero, with ongoing development and some concerns about administration transparency.
- URL: Haveno
Infinity Exchanger
- KYC: None
- Fees: 4%
- LE Co-op: None
- Description: A hidden service that doesn’t require JavaScript, allowing privacy-focused trades with reasonable fees.
- URL: Infinity Exchanger
xchange.me
- KYC: None
- Fees: Varies
- LE Co-op: None
- Description: Instant exchanger with no JavaScript required and hidden service availability, prioritizing user privacy.
- URL: xchange.me
Godex.io
- KYC: None
- Fees: Varies
- LE Co-op: None
- Description: Godex.io offers fast and anonymous swaps, but requires JavaScript and lacks hidden service support.
- URL: Godex.io
Flyp.me
- KYC: None
- Fees: Varies
- LE Co-op: None
- Description: Flyp.me is another instant swap service with no KYC requirements but does require JavaScript to operate.
- URL: Flyp.me
Tradeogre.com
- KYC: None
- Fees: Low Volume
- LE Co-op: None
- Description: Tradeogre offers no-KYC trading for Monero, but it lacks a fiat gateway and caters primarily to crypto-only users.
- URL: Tradeogre.com
Bitfinex.com
- KYC: High
- Fees: 0.10%-0.20%
- LE Co-op: High
- Description: Bitfinex is a prominent exchange with fiat support, making it suitable for advanced traders willing to comply with KYC.
- URL: Bitfinex.com
Poloniex.com
- KYC: High
- Fees: 0.145%-0.155%
- LE Co-op: High
- Description: Poloniex provides a solid trading experience but does not support fiat, making it ideal for crypto-to-crypto users.
- URL: Poloniex.com
Trocador
- KYC: None
- Fees: 0.5%-1%
- LE Co-op: None
- Description: A privacy-focused platform supporting anonymous swaps across multiple cryptocurrencies without KYC.
- URL: Trocador
Each platform offers unique advantages and trade-offs, catering to diverse user needs. Whether you prioritize privacy, low fees, or high liquidity, this guide provides you with the tools to make an informed choice for securely purchasing Monero ($XMR).
Discover more from Kango Anywhere
Subscribe to get the latest posts sent to your email.
