In this guide you’ll get information about where to buy Monero Classic, if you are planning to buy XMC token – You’re in the right place!
Monero (XMC) was one of the first cryptocurrencies to use encryption, which provided significant improvements in privacy and fungibility over existing alternatives. However, Monero has distinguished itself in areas other than anonymity. For example, Monero’s software is set to upgrade every six months, a regular timetable that has allowed it to implement new features more aggressively and without much criticism.
The privacy of Monero may be the most compelling argument to learn how to utilize it. Because transactions on its blockchain are difficult to track, users may more freely exercise their abilities to transmit and accept crypto in all forms of transactions. This makes XMC fungible in spite of being untraceable and safe. This implies that businesses cannot refuse XMC because they may have been involved in illegal behavior. Furthermore, XMC may be intriguing to any user who wants to push the frontiers of cryptography in cryptocurrencies, opening the way for money systems that allow anyone to save and pay freely.
Table of Contents
Monero Classic (XMC) Features
- Ring Signatures. Monero’s Ring Signatures technology enables this obfuscation by combining the digital signature of the individual initiating an XMC transaction with the signatures of other users prior recording it on the blockchain. Though you examine the data, it will appear as if the transaction was sent by any of the signers. Monero has experimented with changing the amount of signatures included in this mixing process throughout the years, even enabling users to pick a preferred quantity at one point. However, as of 2019, a default Monero transaction is now set, with 10 signatures added to each transaction group.
- Stealth Addresses. This feature allows users to broadcast one address that automatically creates numerous one-time accounts for every transaction. The owner may then identify their arriving funds by using a secret “view key,” as their wallet can scan the blockchain for any transactions containing that key.
- RingCT. Ring Confidential Transactions, introduced in 2017, conceal the amount of assets that the users trade in blockchain transactions. RingCT, in effect, allows transactions to have several inputs and outputs while maintaining anonymity and preventing duplicate spending.
Where to Buy, Sell and Trade Monero Classic aka XMC
You can basically use debit card, credit card, or even PayPal to buy the Monero Classic (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Monero Classic as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Monero Classic. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Monero Classic currency and exchange your Ethereum / Bitcoin / Tether with the Monero Classic
- Store your Monero Classic to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Monero Classic, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Monero Classic:
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the XMC/BTC or XMC/ETH or XMC/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you XMC/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Monero Classic (XMC)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Monero Classic (XMC) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Monero Classic (XMC) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Monero Classic. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Monero Classic (XMC) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Monero Classic (XMC) with Skrill?
You can’t buy XMC directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Monero Classic. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Monero Classic (XMC) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair XMC/BTC and begin the transactions.
Can I Buy Monero Classic (XMC) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support XMC/ETH trading pair.
What Is the Best Payment Method to Buy Monero Classic (XMC)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Monero Classic right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Monero Classic (XMC)?
Once you have purchased the Monero Classic, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Monero Classic (XMC)?
Find a crypto exchange which allow pairing XMC with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Monero Classic (XMC) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Monero Classic is to buy it from a reliable exchange.
Traders should be aware that the supply of Monero is not fixed. However, because the amount of XMC is known and users can establish ownership of their coins, XMC may function as a form of value in the same manner that BTC does. However, investors and traders should keep in mind that the XMC money supply will continue to rise, which means it may not be as well adapted to serve as a savings mechanism.