How to Buy Monero (XMR) With Credit Card?

Monero is currently the king of privacy coins, leading all coins in this category in terms of both market capitalization and real-world adoption. In this article, we’ll show you how to buy Monero with a credit card and highlight the most important pros and cons of using this method of purchasing Monero. 

Privacy implications of buying Monero with a credit card

Naturally, privacy is a very important topic when discussing anything related to Monero – after all, the primary goal of Monero is to serve as a fully private digital currency.

If you’re buying XMR just because you think it will go up in value, buying it with a credit card can be justifiable. However, if you’re concerned about privacy, using a credit card is not a good way to buy Monero.

Any service that allows you to buy XMR with a credit card or debit card will require you to pass an identity verification process. Even though your Monero transactions will be private after you withdraw your XMR from the exchange and start using with your own wallet, the exchange will always have a record of when you bought XMR, how many coins you bought and when you withdrew them from the exchange.

Previously, the most private way to purchase Monero with fiat currency was LocalMonero, a platform that facilitated peer-to-peer trades between XMR buyers and sellers. Although LocalMonero has shut down, there are a number of LocalMonero alternatives you can use to acquire Monero privately.

How to buy Monero with a credit card?

Now that we understand the privacy implications of using a credit card or debit card to buy Monero, let’s look at the best options currently available on the market for buying XMR with a credit card.

Kraken

Kraken is one of the most established cryptocurrency exchanges in the industry, as it launched already in 2013. Over more than a decade of operation, it has built a strong reputation as one of the safest and most reliable exchanges for cryptocurrency trading. With its competitive fee structure and a wide range of listed cryptocurrencies, Kraken is a solid option for both beginners and experienced users alike.

Kraken offers users the ability to directly buy cryptocurrencies, including Monero, using a debit or credit card. The exchange supports Visa and Mastercard cards that are enabled with 3D Secure. The minimum purchase limit is $10, and the maximum amount you can buy in seven days is $5,000. 

Please keep in mind that Kraken does not list Monero in all jurisdictions. Depending on where you live, you might not be able to buy or trade XMR on Kraken.

Buy Monero on Kraken

KuCoin

KuCoin is a cryptocurrency exchange launched in 2017, and is best known for offering a huge selection of cryptocurrencies, including many low market cap coins that are hard to find on other major exchanges. With more than 800 cryptocurrencies available for trading, KuCoin has established itself as a popular platform for altcoin enthusiasts.

Beyond just being a marketplace for low-cap altcoins, KuCoin has grown into one of the largest cryptocurrency exchanges by trading volume, making it a solid choice for those seeking a complete crypto trading experience. 

One of the features offered by KuCoin is the ability to purchase cryptocurrencies (almost) instantly using a credit or debit card. This feature also supports Monero, and users can pay with more than 30 different fiat currencies.

Buy Monero on KuCoin

ChangeNOW

ChangeNOW is a cryptocurrency swapping platform that makes it easy to exchange between different types of tokens or purchase a wide range of cryptocurrencies with a debit card or credit card.

We should note that ChangeNOW doesn’t directly facilitate crypto purchases with credit cards. The platform is integrated with a variety of cryptocurrency onboarding solutions (such as Simplex) which will actually process the transaction. However, the experience is very seamless from the user’s perspective. 

If you are looking for a quick way to buy some Monero with minimal hassle, ChangeNOW is definitely an option worth considering. If you’re looking for a more traditional cryptocurrency exchange experience, however, there’s better choices available on the market.

Buy Monero on ChangeNOW

Atomic Wallet

Atomic Wallet is a popular multi-currency crypto wallet that offers a handy feature that allows users to instantly purchase cryptocurrencies with a credit card. 

Similarly to what we’ve seen with ChangeNOW, Atomic Wallet doesn’t directly handle the exchange between fiat currencies and Monero. Instead, they have integrated third-party cryptocurrency onboarding solutions that process the credit card transactions and send the purchased Monero to the user’s Atomic Wallet account. 

Atomic Wallet is a solid option for buying Monero if you’re interested in also using it as a multi-crypto wallet. If you’re only interested in Monero, on the other hand, it’s probably better to use a dedicated Monero wallet as it will offer more features. 

Buy Monero on Atomic Wallet

Buying crypto with a credit card is expensive

You should keep that while purchasing cryptocurrency with a credit card is quick and convenient, it typically incurs higher fees compared to other payment methods, such as a bank transfer. In fact, buying crypto with a credit card is probably the most expensive way of buying crypto when it comes to fees (with the exception of Bitcoin ATMs).

If you want to buy Monero but you’re not in a hurry and want to save on fees, we recommend that you deposit fiat currency from your bank account to Kraken, and use the exchange’s spot market to buy Monero. While this will take longer than using a credit card (it takes some time for your deposit to be credited to your account), you’ll get more XMR for your money.  

Ultimately, it’s up to you to weigh whether the convenience of using a credit or debit card justifies the extra costs.

The bottom line

Buying Monero with a credit card is certainly possible, but there are tradeoffs in terms of privacy and expenses that you need to keep in mind. The bottom line is that using a credit card to buy Monero is fast and convenient, but also expensive and not very private.

If you want to learn more about what makes Monero unique, make sure to read our explainer on privacy coins.