Following Monero’s success, many people have attempted to speculate on its price.
Monero is known to be an alternative to Bitcoin in the dark web. XMR is an open-source cryptocurrency created in April 2014 with focus on fungibility, privacy and decentralization.
Monero is actively encouraged to those seeking financial privacy, since payments and account balances remain entirely hidden, which is not the standard for most cryptocurrencies.
In this guide, am going to show you how you can purchase any amount of Monero (XMR) crypto-coin without any identification and verification.
Let’s begin already!
Where to buy Monero anonymously
For the sake of anonymously buying XMR easily for beginners, am going to guide you through the whole process using LocalMonero P2P (i.e. Peer-to-Peer) marketplace designed specifically for exchanging Monero.
How to anonymously buy XMR
These are the simple steps you can follow to buy Monero anonymously, without having to verify your ID online. See the steps below…
- Get a Monero wallet (Ledger Nano X – Read review here)
- Locate your Monero address
- Login or register an account with LocalMonero
- Search and buy XMR from a trusted vendor
- Transfer the crypto-coin to a secure wallet.
Congratulations… you have successfully bought Monero anonymous cryptocurrency!
Remember; whenever you buy using a bank transfer, or PayPal, or other such payment options, there will always be a privacy leak due to the records kept by the companies that process your payment.
In order to avoid that privacy leak, stick to methods that involve cash deposits. Use methods like cash by mail, ATM deposits, face-to-face meetings or gift cards.
Below are my candid answers to some of the frequently asked questions online, concerning how to purchase Monero anonymously.
What is Monero?
According to Wikipedia, Monero is an open-source cryptocurrency asset created in April 2014 with focuses on fungibility, privacy and decentralization.
Monero (XMR) uses an obfuscated public ledger, meaning anybody can broadcast or send transactions, but no outside observer can tell the source, amount or destination.
Transferring of XMR from one point to another uses a POW (Proof of Work) mechanism to issue new coins and incentivize miners to secure the network and validate transactions.
Why Monero XMR?
Most existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains, meaning that transactions are openly verifiable and traceable by anyone in the world.
Furthermore, sending and receiving addresses for these transactions may potentially be linkable to a person’s real-world identity. But XMR is a leading cryptocurrency with a focus on privacy and censorship-resistant.
Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts. Its transactions are confidential and untraceable.
Every Monero transaction, by default, obfuscates sending and receiving addresses as well as transacted amounts.
Monero is a grassroots community attracting the world’s best cryptocurrency researchers and engineering talent. Over 420 developer have contributed to the Monero project, including 30 core developers.
Forums and chat channels are welcoming and active.
Monero’s Research Lab, Core Development Team and Community Developers are constantly pushing the frontier of what is possible with cryptocurrency privacy and security.
Monero is electronic cash that allows fast, inexpensive payments to and from anywhere in the world. There are no multi-day holding periods and no risk of fraudulent chargebacks.
Can you buy Monero with credit card?
There is no way to buy Monero with a credit card as at the time of writing this article. But the only option is to either buy Bitcoin with PayPal and then exchange it for XMR.
Can you buy Monero in Australia and Nigeria?
Yes you can buy XMR in Nigeria. All you need is to follow through the same process as listed above, and you will purchase any amount of Monero.
Can I buy Monero with PayPal?
The quick answer is yes. You can find sellers in LocalMonero, where you can trade your PayPal balance for SLL, used on the Second Life platform.
Can I buy Monero with bank account?
Yes it’s a bit possible, but not all that straightforward. You will need to first purchase either Bitcoin or Ethereum on a reliable exchange like Binance, then convert it to XMR.
Can I use VPN?
Yes of course. To maintain complete anonymity, it is advised that you make use of the best no-log VPNs (Virtual Private Networks) to hide your transaction footprints.
The majority of cryptocurrencies are only good for speculation. Monero is one of the few I feel comfortable holding over the long term.
Monero is a cryptocurrency that solves many privacy issues by automatically applying privacy techniques to every single transaction made.
You can have confidence that it is not possible to own ‘tainted’ Monero. This is a concept in economics known as ‘fungibility’ and is historically considered an important characteristic for any currency to have.
Meanwhile, make sure to move it into your own cryptocurrency wallet. Never leave your coins on an exchange, as it puts them out of your control.