Buying, Selling and Storing Monero

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Now that you have a complete understanding of the Monero currency, you may be interested in buying, selling or (hopefully) receiving them!

Currently, there are few options to directly buy Monero with cash. Most exchanges (places where you can buy a variety of coins such as Monero), only let you purchase Monero with Bitcoin, Ethereum, and Litecoin. Kraken supports direct pairs to fiat, but you need to make a wire transfer.

If you can, buy Monero from a decentralized exchange like Bisq, or in-person with LocalMonero or MoneroForCash.

Most people buy Bitcoin, Ethereum, or Litecoin with fiat on websites like Coinbase (one of the simplest places to buy), and then transfer it to another exchange where you can buy other altcoins, such as Monero (Search for the code: XMR). People commonly use Binance, Poloniex, and Shapeshift (easiest).

The resources will go more in-depth on this. Don’t worry, It may sound a little complicated, but it’s actually pretty easy!


Congratulations! You’re a Monero owner (hopefully). It’s important to stay secure after you purchase on an exchange. Remember, exchanges are meant for trading. Only keep your Monero on the exchange you bought it on, if you plan to sell it soon. Exchanges have been hacked before and funds have been stolen.

Depending on how much money you have and how secure you want to be, you have several options for storing your Monero. A simple, reasonably safe option is to store it on your computer or phone. Make sure to backup your mnemonic seed in case you lose it! Safer options for larger amounts include cold storage.

9 Curated Resources

One of the most straightforward and common ways to buy Monero. Essentially you buy Bitcoin or Ethereum on Coinbase, transfer it to Binance, an exchange of altcoins like Monero, and then buy Monero with your Bitcoin or Ethereum.

Official Desktop Wallets

free, Official List

When downloading from their official website, you know you are staying safe.

A very simple guide with pictures that walks you through setting up the official GUI.

Ledger Nano S

, Hardware Wallet

The most common hardware wallet. It comes at a price, but it is the best way to keep your Monero (and other coins) safe and secure.

A simple explanation showing how to make a safe paper wallet.

If you’re a beginner and you chose to go with Binance as suggested, you may want help getting your funds to a wallet. It’s actually very simple and this short guide with pictures will help you do it.

Scams to Avoid

free, Wiki List

A curated list on the Monero subreddit wiki that lists all wallets you should stay away from. In this age, a lot of scams look very legit, so you must be careful.


free, Exchange

A website that allows you to pay Bitcoin addresses with the privacy of Monero. Make sure to connect with Tor to protect your IP address. Has transaction fees!

monerujo: Monero Wallet

free, Android Application

A mobile wallet built for Android. Includes XMR.TO integration to pay Bitcoin addresses privately.