Where To Buy Monero in USA – Learn How To Buy Monero Today in 2023

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2021 has been a massive year for Monero (XMR), just before the big crash that wiped almost 50% off the price of Bitcoin, Monero had done close to a 4x from the start of the year, with the coin still up around 70% from its price in January. This has left a lot of people wondering if it’s a good time to invest in Monero, and wanting to know how to buy Monero, which is why we created this handy guide, breaking down the best exchanges to buy Monero and some of the pros and cons of the coin. 

#1 Exchange to Buy Crypto – XTB

How to Buy Monero in USA – The Quick Four-Step Strategy

If you’re after a quick and easy guide to buy XMR, then this is the section for you. Just follow these simple steps and you’ll be ready to invest in under 5 minutes.

  1. Register with Kraken: It only takes a couple of minutes to buy Monero, simply go to the Kraken website, click ‘Join Now” and fill in some basic details.
  2. Verify your details: You’ll need a photo ID (driving licence, passport) and proof of address (bank statement, utility bill).
  3. Fund your Kraken account: You’ll need to fund your account using one of the payment methods available, these include credit/debit card, bank transfer, and crypto.
  4. Buy Monero: Simply type ‘XMR’ in the search bar, select how much you want, and press ‘buy’.

Where to Buy Monero in USA – Full Broker Reviews

If you want to know which is the best Monero exchange, then you’ve come to the right place! It can be confusing trolling through all the information out there, which is why we’ve broken it down into easy-to-digest segments, to help you make an informed decision on the best way to buy Monero.

1. Kraken – Buy Monero in the US Securely

Since its launch in 2011, Kraken has quickly made a name for itself as a leading crypto exchange, with a variety of premium features. They’re regulated by several authoritative bodies and have a clear focus on keeping customer funds safe, so you can rest assured knowing your funds aren’t at risk. Kraken offers over 70 different cryptocurrencies, a range of order types, and is compatible with both mobile and desktop, so regardless of your goals Kraken has something for you.

The area that really sets Kraken apart from any competitors is its distinct focus on security. As with the vast majority of exchanges, they allow users to set up 2FA for withdrawals, an increasingly more important feature in the world of digital attacks. Another standard but crucial aspect Kraken performs well in, is protecting customer’s data, they implement 256-bit SSL encryption to make it almost impossible for someone to make use of this data if they were even able to get through Kraken’s strict physical security measures. Kraken keeps 95% of their funds locked away in cold storage, which is an important characteristic to look out for, as it means you don’t have to worry about losing any money, even in the event of a breach. The attitude Kraken takes toward physically securing their servers is starkly different from most other exchanges, they have armed guards standing at the ready in case an intruder tries to gain access to the servers, this means it’s near-impossible for a nefarious individual to tamper with any data. 

One of the more advanced platforms on our list, Kraken has a very wide range of indicators and charting tools, so even the most technical of traders will be kept happy, while this can be a bit confusing for new users, it’s good practice to learn as easily as possible. While they do offer 24/7 support, you’re likely to be waiting a while for a response, the same goes for identity verification, both of which are unfortunately a big problem most exchanges with a lot of customers. Kraken is regulated by the FCA, FinCEN, and FINTRAC, so you don’t have to worry about any funds getting lost. 

Kraken Fees

Fee Type Amount
Trading Fee 0-0.26% (based on trading volume)
Credit/Debit Card Fee 3.75% + €0.25
Online Banking Fee 0.5%



  • Great Security
  • Regulated
  • Variety of technical indicators
  • Funds kept in cold storage


  • Support can be slow
  • The platform can be overwhelming for new users
  • Fees are a little pricey

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

2. Robinhood – Buy Monero in the US Easily

Robinhood is a huge name in the world of finance in the US, before launching their crypto platform in 2018, Robinhood was well known for providing an easy way to invest in stocks. Robinhood has a stellar reputation in both the crypto world and the stock market, they’re regulated by FinCEN so you can rest assured knowing your money won’t go missing.

The Robinhood crypto platform is one of the easiest ways for a US resident to buy Monero, they provide a simple onboarding process and an intuitive interface. As a regulated platform, Robinhood faces strict rules in regards to data protection and offers insurance on USD balances in the event of a breach. If you’ve previously traded stocks then Robinhood makes a great platform to manage multiple types of assets under one account, and with no commission on trades it’s an attractive platform for both new and experienced traders. However, it’s important to keep in mind that Robinhood doesn’t currently allow you to withdraw any crypto, you’ll have to sell the asset for USD and withdraw that to a bank account.

Robinhood Fees

Fee Type Amount
Trading Fee 0%
Credit/Debit Card Fee 3.99%
Spread Fee Variable


  • Regulated
  • Well known platform
  • Low fees
  • Easy to use 


  • No crypto withdrawals
  • Support can be slow

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

3. Cake Wallet – Buy Monero with Credit/Debit Card

Cake Wallet launched in 2018 and since then has garnered a lot of interest from Monero enthusiasts due to their privacy-focused approach. Only available as an app on either Android or IOS, Cake Wallet isn’t the most accessible platform but it provides a much needed service for those trying to buy Monero easily on mobile. 

The app is completely open-source, meaning anyone is free to look through the code and recommend fixes, therefore, it’s less likely any exploits will be found. Cake Wallet has a clear focus on privacy, which I’m sure anyone wanting to purchase a privacy coin like XMR will appreciate. As a non-custodial wallet, you have access to the wallets private keys and therefore have full-ownership of the coins, something not many platforms currently offer. You can purchase Monero either by depositing crypto and exchanging it. Alternatively, you can purchase Bitcoin with a credit/debit card using the integrated Wyre exchange (the same platform used by MetaMask) and then exchange that Bitcoin for Monero. The app is straightforward to navigate and makes this process very easy, taking only a few minutes.

Cakewallet Fees

Fee Amount
Debit/Credit Card 3%
Processing Fee 0.75%
Miner Fee Variable



  • Easy to use
  • Non-custodial
  • Provides a free wallet


  • High fees
  • No proprietary exchange

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

4. Bisq – Buy Monero Privately

We can’t speak about how to purchase Monero, a self-described privacy coin without mentioning a decentralized platform, like Bisq. Anyone with a computer can use Bisq by simply downloading the software and browsing through the available offers, making it extremely attractive to anyone wanting to remain anonymous when making purchases.You don’t have to provide any personal information, so you don’t need to worry about how your data is stored in the event of a breach. 


Because Bisq uses a peer-to-peer system they’re fully compliant with US regulations and available in every state, this provides the clear benefit of greatly increased privacy, however, you will be dealing with strangers which some users may not be comfortable with. The Bisq software is completely open-source, so anyone can look through the code or even recommend improvements, this makes it much more likely for bugs to be found before they’re exploited. Buying from a peer-to-peer exchange like Bisq is the best way to ensure complete anonymity.

Bisq Fees

Fee Type Amount (%)
Maker  0.1%
Taker  0.7%



  • Well known
  • Open-source
  • Privacy focused
  • Decentralised


  • You have to deal with strangers
  • No wallet provided
  • Rates are decided by users

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

5. LocalMonero – P2P Way To Buy Monero

Launched in 2017, as the name would suggest, LocalMonero is very similar to LocalBitcoins, offering users a peer-to-peer-based platform to purchase Monero. This offers several advantages and disadvantages when compared to the standard broker model, with the main two being increased privacy, at the cost of dealing with strangers. 

By design Monero, is a privacy coin, so it stands to reason the majority of people using it want to remain private. While there is still some degree of privacy offered by regulated exchanges, they often have to keep a record of their customers. This is where a service like LocalMonero shines, they offer a completely anonymous way to purchase Monero. They facilitate trade between 2 users, to make the transaction safe, both funds and tokens are kept in escrow by LocalMonero, only getting released when both parties have funded the trade. By operating this way, they are not subject to the same financial regulations as other exchanges and therefore get to bypass all the pesky ID verification.

LocalMonero Fees

Fee Type Amount 
Trading Fee 1%



  • Peer-to-peer
  • Anonymous
  • Low fees


  • You have to deal with strangers
  • Not regulated
  • Not as convenient as an exchange

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

Purchasing Monero – Is it a Good Investment?

If you want to know how to buy Monero you’re probably also wondering if it’ll make a good investment. Since its release in 2014 XMR has increased in value by more than 100x, from just $1.73 to $230, it’s hard to ignore numbers like this, especially with a coin still down almost 50% from its all-time high. Historically, XMR tends horizontally for a long period before a big rally in the market pushes prices high, which is usually followed by a drastic correction and the formation of a new low. Since the huge price rally in May, XMR has dropped and continued this horizontal trend, so it could be a good time to buy XMR. That being said, it’s important to keep in mind any investment is subject to volatility, and the crypto market is especially well known for this, so it’s important to do your own research before making an investment.

The Advantages of Investing in Monero

Any coin that puts security back in the hands of the people is certainly interesting, especially one that has had price movements as drastic as Monero. There is no other privacy coin as popular as Monero, and with good reason, the privacy-enhancing technology they use gives it several key advantages over other cryptocurrencies.

  • Follows the Bitcoin model: Monero’s main purpose is to privately and securely facilitate transactions between two parties. Does this sound familiar? That’s because it follows a very similar model to Bitcoin, including the way it uses miners to validate transactions. While this may not sound impressive, the privacy aspect makes it stand out from the competition. Bitcoin is 3 years older than Monero, and in the past 3 years has quadrupled in value, so it’ll be very interesting to see where Monero ends up in another few years.
  • One of the most secure cryptos: Unlike the majority of cryptocurrencies which use a transparent blockchain, Monero is completely anonymous and makes it impossible for someone to trace transactions.
  • Low Fees: As with most altcoins, sending XMR is much more affordable than sending a Bitcoin transaction, making it a potentially better alternative for anyone needing to do a lot of transactions.

The Disadvantages of Investing in Monero

Every investment comes with risks, and Monero is no different. Although it follows a model similar to Bitcoin it does have a few important differences which could potentially make or break the coin. You should keep in mind Monero is fairly volatile, even by crypto standards so it’s important to consider your investment carefully.

  • No fixed supply: Unlike Bitcoin, which has a fixed total of coins that can be minted, Monero has an infinite supply. Due to having an unlimited supply of tokens, Monero is inflationary, however, it does have the advantage of continuing to incentivize miners to validate transactions on the network.
  • No way to verify transactions: The downside to being a completely anonymous privacy coin, is it’s impossible to tell if a transaction has happened. On a regular blockchain, you can simply view a transaction and confirm it occurred, but with Monero this isn’t possible and therefore the potential for scams rises drastically.
  • Long transaction times: Bitcoin is known not to be the quickest cryptocurrency with transactions often taking 10+ minutes, but unfortunately, Monero takes even longer, often around 20 minutes. Due to not being able to verify transactions and long transaction times, it’s not viable to use Monero for everyday purchases.  

How Much Does it Cost to Buy Monero?

Currently, the price of 1 XMR is around $230, meaning if you were to invest $100 you would end up with 0.42 XMR. When investing, it’s important to keep in mind any fees that your chosen broker charges, as these could quickly eat into the amount of XMR you receive.

Purchasing Monero – How to Pay for It

If you’re considering investing in Monero, it’s just as important to consider how you’ll pay for it. Most exchanges offer a variety of payment methods, so you should find out which will offer you the best balance of convenience, security, and low fees. 

Buy Monero Using PayPal

When purchasing Monero, using an e-wallet like PayPal could be the best choice for your needs. Typically, a credit/debit card will incur the greatest amounts of fees and offer minimal privacy in the event of a security breach at your chosen exchange. Using an e-wallet like PayPal gives you an additional layer of security between your information and the exchange, this can be crucial for privacy-focused individuals. The only downside with PayPal is you’ll need a broker that accepts it, luckily our pick for the best Monero exchange, XTB allows users to deposit and withdraw via PayPal. 

Buy Monero using a Credit/Debit Card

Often thought of as the most convenient way to purchase anything, a credit/debit card rarely holds this title in the crypto space. Unfortunately, it’s common that you’ll be hit with steep fees when trying to figure out how to buy XMR easily via credit/debit card (usually 2-5%). If an exchange gets compromised, you also don’t have any barrier between your bank information and the exchange.  

How to Buy Monero in USA – Detailed and Explained in Full

If you’re looking for an answer to the question “how to buy XMR easily”, then you’ve come to the right place! Below, we’ve given you an easy-to-follow guide on how to buy Monero USA.

Step 1: Open an Account with a Broker

If you’re looking for a quick and easy experience buying Monero, we recommend using Kraken, they verify new users quickly and have a simple to use platform. The first thing to do when buying Monero is navigate over to “Kraken.com”, press “Join Now” and fill in some basic details. Don’t worry, all the information you provide is SSL encrypted so nobody can steal your data.

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

Step 2: Verify your Account

Once you’ve filled in your details and signed up, you’ll need to verify your account by providing a couple of documents. You’ll need a photo ID (passport, driving licence), as well proof of address (bank statement, utility bill). This is standard practice, as Kraken is a fully regulated exchange.

Step 3: Fund your Kraken Account

After you’ve verified your documents, you’ll need to fund your account. You can use either a credit/debit card, crypto, or a bank transfer. Although it’s important to note a bank transfer is likely to take 4-7 days while the other methods are near-instantaneous.

For US residents, the minimum deposit is just $50.

Step 4: Search for Monero

After you’ve funded your account, you’re almost ready to invest in Monero. Just type Monero/XMR in the search bar and select the relevant result.

Step 5: Buy Monero USA

All that’s left to do is click the “trade” button, after doing this you’ll have access to the order terminal. From here simply enter how much Monero you wish to purchase, and hit “open trade”. There is a minimum investment of just $1 so make sure to select a number higher than that. A $25 investment would currently get you 0.106 XMR tokens.

How & Where to Buy Monero in USA – Conclusion

To summarize, Monero is a privacy coin used to facilitate transactions in a similar way to Bitcoin, with the main difference being its focus on keeping transactions anonymous. After reading this guide, you’ll have all the information needed to answer the question “how to buy Monero”. When investing, it is important to select the best Monero exchange. We’ve chosen Kraken as our number 1 pick thanks to its great features for beginners and excellent blend of privacy, security, and ease of use. Although Kraken will be the perfect wallet for most, when storing large sums we recommend holding them on a hardware wallet, and storing a portion on Kraken to use for day-to-day activities.


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About Jay Leonard PRO INVESTOR

Jay is a UK based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. He has a great deal of hands on experience in the space and a current focus on institutional adoption.