You’ve probably heard of Monero (XMR) by now. It’s a cryptocurrency which features privacy and untraceable transactions. Several darknet markets, including AlphaBay and Oasis, have chosen Monero to be their private cryptocurrency. SIGAINT, a darknet email service, has also recently provided a TOR relay for Monero transactions in an effort to help Monero transactions stay completely within the darknet, if the user so desires. And, if you watch the cryptocurrency markets, you know that value of Monero has skyrocketed. All of this has created a greater demand for Monero.
So, how do you get Monero?
You Can Trade for Monero through Exchanges
If you already have Bitcoin or other cryptocurrencies, you can trade them for Monero at cryptocurrency exchanges. Bittrex and Poloniex are the larger exchanges, with Poloniex having the most volume of Monero trades. A list of exchanges which trade Monero may be found here. Fees on the exchanges vary, but 0.25% when buying seems standard.
Bitsquare.io is a decentralized exchange, meaning that you can trade Bitcoin and other cryptocurrencies for Monero peer-to-peer through their open-source software. For now, their fees are a little higher than the centralized exchanges, but you do have increased anonymity with decentralized exchanges.
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Exchanges work well, but they require an email address and sometimes require other personal information. If you don’t want to provide any of your personal information to an exchange, you can use ShapeShift.io to instantly convert Bitcoin or other cryptocurrencies into Monero. No email or password is required. If you deposit Bitcoin, you can be sent Moneroj (“Moneroj” is plural for “Monero”) instantly (within a few minutes). At the time of this article, Monero’s price was around 12.5% higher on ShapeShift than it was on the exchanges, but the convenience, speed, and greater anonymity may be worth it to you.
You’ll need to have a Monero wallet and Monero address to which ShapeShift can send your Moneroj, so be sure to set those up beforehand. Although Monero doesn’t have an official Graphical User Interface (GUI) wallet yet, it is in development. You can choose to use the official Command Line Interface (CLI) wallet, or the web-basedMyMonero.com wallet. MyMonero is very easy to use and your private keys are not stored on their server. Still, it’s best practice to use web wallets for only immediate needs and not for storing large amounts. This applies to all web wallets, not just MyMonero. A list of available Monero wallets may be found here.
You can useto Buy Monero with Cash –
Remember to Use Good Privacy Practices
No matter which method you use to get Monero, it’s always a good idea to use good privacy practices online. Check out our Must Read section (on the sidebar) for tutorials on how to use TOR, I2P, privacy-oriented operating systems, and other helpful privacy tips.