How to Buy Monero

Want to learn how to buy Monero? We will show you how you can easily buy your first Monero by following 8 simple steps. The only thing required is that you have access to a computer, an email account and a phone.

In this tutorial we will be using Binance, which is one of the fastest growing and most popular exchanges in the cryptocurrency space. It is important to note that Binance is a crypto-only exchange, and does not cater to fiat deposits.
There are a lots of different Monero Exchanges out there, and Binance is just one of many. Check out our complete list of the best Monero Exchanges.

Trade Monero with 10 simple steps

Buying digital currencies such as Monero might sound complicated at first, but it is in fact rather simple.

Get started right now by following our simple tutorial, and you will own your first Monero in no-time. Buying, selling and sending Monero has never been easier!

Buy Monero on Binance

Binance is a cryptocurrency trading platform that was launched in July 2017. It has already become one of the most popular cryptocurrency exchanges, used and trusted by millions of crypto enthusiasts all over the world. Binance is a "crypto-only-exchange", meaning you can not directly exchange cryptocurrency with FIAT (USD, EUR, GBP etc.). It requires that you deposit Bitcoin or any other cryptocurrency available on Binance, and then exchange it for other currencies.


Register on Binance

Head over to Binance and click the register button in the top right corner. Fill out the required fields and submit by clicking register.

Register on Binance

Email Verification

You should now have received a verification mail from Coinbase, it might take a couple of minutes to arrive. Click the link in the mail to verify your account.

Binance Email Verification

Login to Binance

After verifying your email you are able to sign in to Binance. Always make sure you are on the legitimate website ( before logging in.

Binance Login

Enable Two Factor Authentication (2FA)

We strongly recommend that you enable 2FA on your Binance account. 2FA basically adds another level of security in addition to your password. So even if someone hacks your password they cannot log in. You can choose between using Google Authenticator or SMS Authentication. If you decide to go for Google Authenticator you can check out Binance's own tutorial on how to setup Google Authenticator on your Binance Account.

Enable 2FA

Deposit funds to Binance

Now that we have successfully setup our account we are ready to transfer cryptocurrencies to our Binance account. As we stated earlier in this tutorial, Binance is a "crypto-only-exchange", meaning you can only buy Monero on Binance using other cryptocurrencies such as Bitcoin and Ethereum.
You can send funds to Binance from any wallet or exchange as long as Binance supports that currency. In this tutorial we are going to send Ethereum from our Coinbase account. If you don't have any cryptocurrencies yet, and want to buy with "real money", head over to our Coinbase Beginner Tutorial to get started.

  1. Go to the Funds > Deposit tab in top right menu.
  2. Select the cryptocurrency you would like to deposit from the dropdown list, in this example we have chosen Ethereum (ETH)
  3. Copy your Deposit Address

Deposit Funds to Binance

Transfer funds from Coinbase (or other wallet/exchange)

  1. Sign in to Coinbase
  2. Head over to the Accounts section
  3. Click the send button on the cryptocurrency you would like to transfer to Binance (in our example ETH)
  4. Paste the Binance Deposit Address of your selected cryptocurrency in the "Recipient" field
  5. Fill in the amount you would like to send
  6. Click the complete button and finish the required steps to send your funds

Transfer Funds

Open the Exchange Page

After you have sent funds to your Binance account you will have to wait until it arrives, which can take anywhere from 1 minute to 2 hours depending on the currency. You can see all incoming and previous deposits in the Funds > Transaction History tab. When you successfully have the funds on your Binance account we are ready to start buying Monero.
Head over to the Exchange > Basic tab located in the top left corner.
Don’t worry about all those numbers and figures! They may seem very over whelming but for the purposes of this guide we will be ignoring them.

Binance Crypto Exchange

Select Monero (XMR)

Just like trading a stock, Stellar is traded in pairs. On Binance you can trade Stellar with Bitcoin and Ethereum, and in this tutorial we will trade our Ethereum (ETH) into Stellar (XLM). The trading process is the same for all coins, so you can follow these exact steps for whichever coin you would like to trade.

  1. Click on the ETH tab on the right side
  2. Search for XMR (Monero)
  3. Click on the XMR/ETH link, which will take you to the trading page for that pair (see image below)

Monero Exchange

Buy Monero (XMR)

There are primarily 3 different order methods that can be used to buy and sell Monero on a trading platform like Binance: Limit, Market and Stop-Limit. In this tutorial we will be using Market, which is the simplest type. If you want to learn more about the different market types you can read more here.

  1. Select "Market" in the Buy/Sell section located below the graph
  2. Set the desired amount (number of coins or total percentage of your Ethereum balance)
  3. Click "Buy XMR"

Buy Monero

Binance Balances

Congratulations, you now know how to buy Monero on Binance! If you head over to the Funds > Balances section you should be able to see your Monero and all other cryptocurrencies you have in your Binance account. This is also where you can send your currencies to other accounts or wallets.

Your Monero Balance

It's that simple. Trading Monero has never been easier!

Binance is just one of many exchanges where you can buy and sell Monero. Check out our complete list of all the best Monero Exchanges. Looking for a safe place to store your Ethereum? Check out our list of the best Monero Wallets.