🟠 How to Buy Monero (XMR) in the UK

Monero is one of the first digital currencies to appear in the market, and its price has risen significantly over time. Monero is also one of the few cryptocurrencies that guarantee anonymous transactions; no wonder so many people try to find out how to buy Monero in the UK.

Notably, Monero's enhanced privacy is a controversial feature that has led to its removal from many popular cryptocurrency exchanges. So, it is no longer that easy to get Monero in certain jurisdictions, including the United Kingdom.

However, this article discusses several ways of getting Monero (XMR) in the UK. Both crypto holders and people with fiat money can do that, and this article describes the most popular and secure approaches.

How to buy Monero (XMR) with GBP

Naturally, it is more comfortable to buy XMR for fiat money. Here are some popular platforms where you can do so. 

ChangeNow

ChangeNow is a non-custodial cryptocurrency exchange where anyone can buy XMR with GBP. This simply means that you have to provide a payout address to which the exchange will transfer your XMR upon purchase. The process is also relatively straightforward, as we'll see.

How to do it:

• Visit Changenow.io and create a new account.
• Select GBP as the currency to spend and XMR as the coin to buy.
• Input the amount and Provide an XMR address on the next screen
• Click on Confirm to initiate the purchase
• Provide your card details on the next screen and complete KYC if prompted.
• Complete the purchase and wait for ChangeNow to transfer XMR to your designated address.

Supported Payment Method: Visa/Mastercard

How to buy XMR with other cryptos

KuCoin

Launched in 2017, KuCoin has become one of the most reputable crypto exchanges globally. The exchange offers more than 700 cryptocurrencies, including Monero’s XMR. Users can purchase the XMR token through three trading pairs – XMR/BTC, XMR/USDT, and XMR/ETH. Here’s how to buy XMR:

• Create a KuCoin account and verify your identity.
• Fund the account with USDT, BTC, or ETH.
• Navigate to the “Trade” page and open “Spot Trading.”
• Search for XMR in the search box and select one of the trading pairs that pop up.
• Input the quantity of XMR you want to buy based on your available balance.
• Review the trade.
• Hit the “Buy” option.

XT.COM

XT.COM is a centralized crypto exchange that prioritizes trading functionalities. Traders opt for the exchange to perform spot, derivatives, copy trading features, and other capabilities. Here’s how to swap USDT for XMR on XT.COM seamlessly:

• Set up an XT.COM account.
• Submit and verify your identity.
• Fund your account with USDT.
• Open the “Trade” page on the exchange’s interface.
• Open the “XMR/USDT” trading pair.
• Input your desired quantity of XMR.
• Execute the trade.

WhiteBIT

Founded in 2018, WhiteBIT has grown into one of Europe’s top crypto exchanges. It supports a basket of various cryptocurrencies, including Monero’s XMR. If you’re looking for where to buy XMR using another crypto, like USDT, WhiteBIT is an excellent choice. Here’s how to buy the digital asset:

• Register and set up your WhiteBIT account.
• Purchase USDT on the account using your preferred payment method.
• Navigate to WhiteBIT’s Trade page.
• Search for the XMR/USDT trading pair and enter.
• Input the amount you want to purchase.
• Review and submit the trade.

Kraken

If you purchase XMR using another cryptocurrency, such as stablecoins (USDT, USDC) or traditional crypto like BTC, Kraken is a good choice. Although headquartered in the United States, the crypto exchange is renowned as one of the top crypto platforms accessible in many countries. It also supports a wide range of cryptocurrencies, including Monero (XMR).

Here’s how to buy XMR on Kraken:

• Create a Kraken Pro account and verify your identity.
• Fund your account with USDT, BTC, or USDC.
• Open the platform’s Trade page.
• In the search box, input XMR and choose your preferred pair.
• Input the amount of XMR you want to buy.
• Review the trade and execute.

Things to consider before buying Monero

Privacy: As noted earlier, Monero is a privacy-focused cryptocurrency. Buying the cryptocurrency on regulated platforms where users must complete KYC processes removes the privacy feature. However, if you buy XMR with GBP simply for speculative purposes, then there is no reason to bother about the lack of privacy. You can withdraw the coins to a self-custodial wallet for better security.

Purchase Limit: Depending on the amount you want, it might be best to check the purchase limits on the exchange you wish to use. Most exchanges support purchases ranging from a few hundred to thousands of pounds.

Ideally, the best way to purchase large amounts is to use your existing cryptocurrency balances, brokerage firms, or peer-to-peer (P2P) exchanges.

Price History: The cryptocurrency market is well known for its volatility. Hence, it is essential only to invest an amount you can afford to lose, or at least can do without, for a long time. Also, you may prefer to buy at a time when the price of XMR has dropped significantly from its all-time high price. Then, you can purchase and decide how long you will keep the Monero coins to make sizable profits.

Where to store XMR

The range of wallets to support Monero is significant since it is one of the most popular coins in the modern market. Therefore, consider the following variants:

• Monero wallet on any exchange;
• The official Monero wallet, developed as part of the project's ecosystem.
• Hardware wallets, including Ledger and Trezor;
• Desktop and mobile Exodus wallet;
• Monero CLI wallet, which is a text box powered by written commands;
• Monero paper wallet secured with a seed phrase.

Privacy and security tips

One of the worst moments for a crypto investor is losing coins to security breaches caused by a wallet platform or human error. Abiding with the following security tips can help you avoid such ugly experiences: 

• Double-check wallet addresses and payment details before transferring your coins. 
• Buy Monero only on trustworthy and highly-rated exchanges.
• Try to withdraw XMR from the exchange wallets immediately after you complete the transaction and store it in a more secure place;
• Enable 2FA to protect your tokens;
• Ensure device safety: check it for malware, the latest protection measures, etc.;
• Use VPN and Tor browser to avoid being tracked. 

Conclusion

Monero (XMR) is a popular cryptocurrency. You can choose to buy it with debit cards or cryptocurrency. You can buy XMR with GBP on any exchanges covered in this guide. The procedure is similar on most of these platforms, so you will see that it does not take much effort to get XMR.