Investing in cryptocurrency starts with acquiring the digital coins of your choice. And buying them is one of the best options that you have. You can also earn crypto through selling products from your business or doing certain jobs that are paid via cryptocurrency. But as you advance in crypto investing, you will also learn about coin swapping or buying one type of crypto using another.
If you are interested in buying Monero (XMR), which is one of the most anonymous cryptocurrencies at the moment, you can easily do so using Bitcoin. So, the advice shared below, on how to buy Monero with Bitcoin, is inspired by experienced pros in cryptocurrency, and it will be invaluable to you.
Getting an XMR Wallet
Now that you are interested in how to buy Monero with Bitcoin, the first step is to have a Monero wallet. If you have one, good. But for those who do not have one, they must find a reliable website where they can download a Monero wallet.
Experts say that after downloading it, you should disconnect from the internet before generating a mnemonic seed, which is a 25-word code, and storing it safely. The other thing to note is the address that will be used to send coins.
How to Buy Monero with Bitcoin
According to experts, there are different options for buying Monero with other cryptos. With your Bitcoin ready in a wallet, you need a third-party exchange platform that allows coins swapping. Here are some of the options you have.
· NakitCoins – This platform is one of the most reliable crypto exchange platforms in the market today. When you visit the website, you will have an opportunity to use their blender to exchange BTC for XMR. Anyone wondering how to buy Monero with Bitcoin should try this platform today, and they will guide you on the process. They will quickly match you with a Monero seller who wants to buy your Bitcoin.
· Binance – Probably, you have heard about this platform especially if have some experience in crypto trading. It has a wide selection of coins and many users, which increases the chances of buying XMR using BTC. When matched, the process is safe and secure, which leaves you with nothing to worry about. After all, Monero is discreet, and no one will trace the source of your coins.
· Coinbase – The other recommendation for those who are still deciding how to buy Monero with Bitcoin is Coinbase. It is equally popular like other major exchange platforms with a safe and secure environment. Additionally, it has a large user base, which makes the process very fast. Since they allow coin swapping and have a variety of altcoins, your options are not limited to buying Monero with Bitcoin; you can explore a lot more possibilities.
As you can see, the challenge of how to buy Monero with Bitcoin is now solved. The experts have given helpful advice, and it is up to you to use it to your advantage. You can explore more options and use them as well.