Luna Sanchez
Disclaimer: This post contains affiliate links.
There are several ways to buy Monero directly with GBP. Purchasing Monero can be a bit more complicated than other cryptos, but it’s also less expensive.
In this blog post, we will discuss the best ways to buy Monero in the UK . We’ll cover how to use a cryptocurrency exchange, as well as peer-to-peer exchanges and marketplaces. You’ll also find out about some of the risks associated with buying Monero online and what you can do to minimise those risks.
Some people think that it’s better not to store your coins in an account or platform if possible which means relying on physical storage like hardware wallets for example instead (which are usually safer than software).
» Check out our Trezor Model T Review . Trezor Model T is fully integrated with Monero.
“Trezor is integrated in Monero client and not vice versa to preserve all its advantages and privacy features.” - Dušan Klinec
Moreover, there are many companies that offer advice and services when it comes down to helping individuals increase their security while dealing with cryptocurrencies so that they don’t get hacked.
You can buy Monero with fiat currency on a cryptocurrency exchange, such as Coinbase . You can also buy Monero with Fiat currencies from peer-to-peer exchanges or marketplaces
On some websites, you might also be able to trade for Monero using other cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). In the case where it is possible, there will usually be an option of ‘Monero’ in order to make the transaction easier.
It’s possible that you might be able to find someone on the internet who sells Monero for fiat currency through an account with PayPal, but this isn’t something which can be guaranteed and it can sometimes take weeks of communications before such transactions go ahead successfully. The best advice would be to avoid these methods unless absolutely necessary as there are many other ways of buying Monero (XMR) more reliably than this at present.
If you do want to try peer-to-peer exchanges or marketplaces, then most people recommend LocalMonero because it has been established for some time now and offers good security features including encryption and two factor authentication if desired.
Local Monero provides direct GBP -> XMR transfers.
Local Monero provides a comprehensive P2P service and charges around 5%. If you are familiar with LocalBitcoins then you LocalMonero will feel very familiar. If you are concerned about protecting your identity then you will be pleased to know you don’t need to verify your ID.
There are many risks associated with buying Monero online, chief among which is the risk of identity theft and fraud. It’s not unusual for people to either buy cryptocurrency from a scammer or be scammed themselves into sending money without receiving any goods in return. This may seem like an unlikely scenario but it does happen more often than you might think! The best advice would be to avoid these methods unless absolutely necessary as there are many other ways of buying Monero (XMR) more reliably than this at present.
If you suspect that your account has been compromised, there are some steps which you should take straight away, including: changing your password; logging out of any other devices you are logged into; uninstalling the app from your device.
A Monero Wallet can be downloaded to store, send or receive XMR in an encrypted electronic format. The funds on these accounts cannot be accessed without entering a password of some kind which means that if someone were able to access this file then they could not do anything with it unless they knew the password. These wallets must also have their own private keys - meaning only he/she has possession of them - for anyone else to gain access to the transaction history stored within. And once again, we advise against using any service where there is no two-factor authentication enabled.
The Monero Wallet has a variety of features that allow it to be used as an all-in-one solution for your crypto currency needs. It is able to integrate with other wallets, so you can connect them together in order to exchange between different currencies and assets more efficiently - this will also make sure your funds are always available on whichever device you choose at any given time.
My Monero is our choice for the simplest to use Monero Wallet. It also looks fantastic.
We hoped you found this article on how to buy Monero XMR useful. If you have any tips or recommendations please leave them below in the comments section.
Disclaimer: Cryptotravellers or the author are not a financial advisor and the information in this article is not financial advice and should not be construed in this way. This article contains affiliate links.
Written By
Luna graduated from University College London with a BA in English, minoring in creative writing. She specialises in writing financial news and analysis, as well as cryptocurrency news and information.
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