Monero (XMR) is one of the most private and secure crypto coins available today. Like most other cryptocurrencies, you must acquire Monero by purchasing it through an online exchange or receiving it as a payment for mining or for performing another service where XMR is used as a remittance. If you want to buy Monero online, here are five exchanges where you can purchase the cryptocurrency instantly.
If you want to buy Monero with Bitcoin, HitBTC is the best online exchange. Dubbed ‘the most advanced Bitcoin exchange’, this website allows you to instantly purchase Monero from your computer. The website boasts a relatively small one-time fee of 0.1 percent on each trade — far less than many other exchanges.
For those who like to explore advanced data on various cryptocurrencies before buying, Binance offers a plethora of statistics on how the crypto coin is doing. They offer both basic and advanced exchange options, so even the complete Monero novice could purchase from this website with a little exploration.
Most exchanges require that you purchase Monero with fiat currencies like the Euro or the American dollar, or another cryptocurrency like Bitcoin. LocalMonero allows you to purchase Monero with your local currency (for example, the pound) from a network of users around the globe. Whilst this exchange requires you purchase directly from another user, you are given data about the seller to screen for the best conversion deals.
Those new to Monero exchanges may seek an easier-to-use exchange. ChangeNOW has a well-designed user interface that makes buying Monero easy. Simply choose your starting currency from a drop-down, enter the amount of quid you’d like to spend in the purchase, then press the ‘Exchange’ button. The interface guides you step-by-step through the rest of the process.
Another aptly named simple exchange is SimpleSwap. Like ChangeNOW, SimpleSwap uses a friendly interface to guide you through the process of buying Monero. What’s more, SimpleSwap allows you to send cryptocurrency to a receiver via an email address.
Buying Monero — either with another cryptocurrency like Bitcoin or with a local fiat currency — is simple when you use an online exchange. Use the five websites above to purchase XMR instantly.
How Beginners Can Mine Monero on Windows or Linux
Monero mining is a process that can be done on virtually any personal computer. However, the software you use to mine Monero may be different, depending on your operating system. If you’re specifically using a Windows or Linux operating system, including Ubuntu and Fedora, you’ll want to read this guide on Monero mining for beginners.
In order to mine Monero, you need to have two things: hardware and software. The hardware components are found within your PC itself. Since mining Monero requires the use of some of your computer’s power, you’ll want to use hardware that’s powerful enough to run the operations. You have two hardware options built-in to your computer from which you can choose:
- CPU: The central processing unit (CPU) is the hardware that makes your computer function.
- GPU: The graphics processing unit (GPU) is the hardware that displays graphics on your computer.
The hardware you use is a matter of personal preference. Just remember to choose the one that’s powerful enough to get the job done.
Because you’re running a Windows or Linux operating system, you’ll need software that can operate on these OS. Here are two software that can be downloaded online. Please note that some of this software may have developers fees associated with them.
- XMR Stak (Windows/Linux)
- MoneroSpelunker (Windows/Linux)
In addition to the hardware and software, there are two additional requirements needed to mine Monero. They are:
- Monero Wallet: A Monero wallet holds your XMR coins. Since you’re being paid in new Monero coins, you’ll want an online wallet to safely store your earnings. XMR Wallet is free, secure and there’s no registration required.
- Monero Pool: A Monero pool allows you to combine your computer’s power with other miners to more effectively mine Monero. Choose a pool from this list to get started. Be sure to choose one with a geographic location that’s closest to you.
Once you’ve obtained the hardware, software, wallet, and pool, you can install the software and begin mining Monero.
Mining Monero on Windows or Linux is a fun and easy way to earn Monero coins. Simply follow this guide to begin mining Monero today.
Hitesh is a digital marketing strategist and entrepreneur with more than 12 years of experience in digital marketing, startups, branding and customer acquisition strategies. Hitesh is the CEO and Founder of Reposition Group, which encompasses a number of companies in the digital sector.