What is Monero & Where To Trade It

Below is the Best10 Team's choice of the best Monero Brokers & Exchanges available. We have narrowed the selection for you based on security, functionality, instruments, commissions and ease of use.

Best10 selects

Broker
Features
Our Score
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  • No.1 trading app in the UK and Germany
  • Regulated by FCA
  • Zero commission stock trading service

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Most Popular Choice
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Your capital is at risk
10K+ Global Stocks
$10 Minimum Deposit
Mobile App
  • Low spreads
  • No commissions
  • Fast execution.

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Most Popular Choice
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Your capital is at risk. Other fees may apply.
2000+ Instruments
£100 Minimum Deposit
Mobile App
  • Currently unregulated
  • Low trading fees
  • Mobile and desktop apps available
  • Registered in Saint Vincent and the Grenadines

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Most Popular Choice
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Your capital is at risk
All Main Cryptos
$100 Minimum Deposit
Mobile App

What is Monero?

Monero is a secure, private and untraceable currency system - the blockchain behind Monero uses a bespoke cryptography process that maintains total anonymity between all participants in relation to the entire transactional experiences. As more and more cryptocurrencies talk about transparency, Monero provides an alternative secure and untraceable alternative cryptocurrency experience.

During the early years of the twenty first century, when cryptocurrency development was in its infancy. Bytecoin was launched, going mainstream in July 2012. Bytecoin was the first to use the protocols of CryptoNote. However, the Bytecoin was immersed in scandal - this resulted in a forked spin off by a group of developers. In 2014, they created Monero, the new blockchain, that sees a new coin mined every minute with absolute privacy built-in to its DNA.

However, Monero's total anonymity is in stark contrast to Ripple, Dash or Bitcoin. This has created perception issues for the cryptocurrency. There has been a strong association between Monero and Darknet criminal activity. However, many argue that the encryption goes beyond what is required for trusted digital security and creates a unique environment that allows criminality to succeed. Nonetheless, the developers behind Monero and the growing popularity illustrates a positive counter-experience to the cryptocurrency.

Why the big fuss?

Human failure is the single biggest security flaw within the cryptocurrency landscape. The fallibility of humans is central to understanding the myriad of security issues faced by exchanges and individuals investing in crypto. Furthermore, some cryptocurrencies aren't open source - like Ripple or ZCash, they're owned by small companies in the US led by up-and-coming 'tech personalities'. The Monero experience is more open-source, more security-focused and more total anonymity. Another part of the hype around Monero is the 'fungibility' of the currency. This means that each 'coin' has an equal value. This equity of transactionality means that vendors accept Monero because the blockchain does not 'trace' the transactional history of the recipient or vendor.

What can I buy with Monero?

Outside of the 'dark web' or the now defunct 'AlphaBay', the use of Monero is somewhat stymied by the general emergent attitude to cryptocurrency. Unlike Bitcoin, there hasn't been a wholesale development towards structural consumer-inclined experiences. There are no Monero ATMs, pizzerias or retailers. The transactional distribution and the growing cost of exchange differentiation has also created problems. However, the anonymity of the cryptocurrency means that whatever one buys using Monero, no one will find out about the transaction history.

Where can I buy, sell or trade Monero?

We recommend you buy, sell or trade Monero through a trusted broker. Our favourite is at the top of this page.

Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Before deciding to trade in financial instruments you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Best10Stockbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Best10Stockbrokers and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Best10Stockbrokers and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Best10Stockbrokers may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.