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How to sell Monero (XMR)

How to sell Monero (XMR)

In this manual as an example we’ll show you how to sell your Monero (XMR) for Bitcoin (BTC). You can use one of the guide methods (Method 1 or Method 2) and then follow the selected guide method steps.

Guide Method 1: Sell Monero at the main page

1. Go to the main page ALFAcashier.com, select the appropriate exchange direction (for example, XMR → BTC):

2. Few things to keep in mind before proceeding with the exchange:

a) This is a “pure” exchange rate without any service fees or third party fees
b) Guaranteed rate means that exchange rate is ONLY valid for 15 minutes after order’s creation time. If the payment wasn’t received within 15 minutes interval, the rate will be recalculated. The exchange rate also will be recalculated for orders with unconfirmed transactions for more than 24 hours.
c) The system fee (% depends on the exchange direction).
d) Your personal discount. Discount is provided only to registered users (How-to register). You can learn more about discount here.
e) Exchange type. Automatic means there is no human involved and exchange automatically will be processed as soon as we’ll get your confirmed payment. Automatic exchange directions are very fast from few seconds to 5-10 minutes.
f) Required number of confirmations on the blockchain.

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3. Now you need to enter the required amount of destination currency (3) (in our example: Bitcoin) or source amount (2) (in our example: XMR) you’d like to exchange. If you change destination amount the source amount will be automatically re-calculated and vice versa.

WARNING: don’t forget to include Payment ID when you transfer Monero, otherwise your payment won’t be accepted! (1)

4. Enter your e-mail address (1) (if you’d like to get an e-mail when your exchange order finishes or leave it blank, e-mail field is completely optional).
Enter your cryptocurrency address (2) where exchanged funds will arrive. Make sure to provide the correct address you own!
In our example the cryptocurrency address — is the Bitcoin address.

If you’re logged in you can save this wallet’s address for the future re-use or use previously saved wallet.

Please Note: If your destination currency is XRP or XEM and you are transferring cryptocurrency to an online wallet, exchange or any other third-party service, you must specify appropriate Destination Tag for XRP or a Message for XEM, otherwise you can click on ‘No Destination Tag’ or ‘No Message’ checkmark and leave it blank.

5. Accept the service terms (1), resolve the CAPTCHA (2) and then click on the Submit (3) button.

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6. The next page is the payment page. You need to send exact amount displayed (2) to our deposit address (3) and specify Payment ID for Monero (4).

Please note: don’t forget to include Payment ID when you transfer Monero, otherwise your payment won’t be accepted! (1)

7. After we’ve received unconfirmed transaction from you — the page will be refreshed automatically and system will indicate that we received your payment, but it’s awaiting required number of confirmations on the blockchain. In our example: the order will be completed automatically after transaction gets 10 confirmations.

8. Congratulations! Your order has been completed!

Guide Method 2. Sell Monero at SELL page

1. At the main page, choose SELL menu in the upper menu and click the cryptocurrency you want to sell (in our case, Monero).

2. Select your preferred currency (1): USD, CNY, CAD, RUB, Crypto (in our case — Cryptocurrency), select the payout method (2): one of supported cryptocurrencies (in our case — Bitcoin).
Enter either source amount (3) (in our example: Monero) or destination amount (4) (in our example: Bitcoin).

In the left block you can see the same exchange conditions and information as in Method 1 (point 2) regarding guaranteed rate, processing mode, required amount of confirmations, system fee and discount.

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3. Enter your e-mail address (1) (if you’d like to get an e-mail when your exchange order finishes or leave it blank, e-mail field is completely optional).
Enter your cryptocurrency address (2) where exchanged funds will arrive. Make sure to provide the correct address you own!
If you’re logged in you can save this wallet’s address for the future re-use or use previously saved wallet.

In our example the cryptocurrency address — is the Bitcoin address.

Please Note: If your destination currency is XRP or NEM and you are transferring cryptocurrency to an online wallet, exchange or any other third-party service, you must specify appropriate Destination Tag for XRP or a Message for NEM, otherwise you can click on ‘No Destination Tag’ or ‘No Message’ checkmark and leave it blank.

4. Accept the service terms (1), resolve the CAPTCHA (2) and then click on the Submit (3) button.

5. The next page is the payment page. You need to send exact amount displayed (2) to our deposit address (3) and specify Message for NEM (4).

Please note: don’t forget to include Payment ID when you transfer Monero, otherwise your payment won’t be accepted!(1)

6. After we’ve received unconfirmed transaction from you — the page will be refreshed automatically and system will indicate that we received your payment, but it’s awaiting required number of confirmations on the blockchain. In our example: the order will be completed automatically after transaction gets 10 confirmations.

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7.Congratulations! Your order has been completed!

For your convenience, a message with detailed information of the order will be e-mailed to you.
After successful payment, please leave some feedback about your exchange experience! Your opinion is very important to us!

We hope you find our service easy and convenient to use.

Best wishes,
​ALFAcashier team.

Is There a Supply Limit to Monero?

While, like Bitcoin, there is a supply limit to Monero, it has the advantage of a “tailing emission.” The main Monero supply is about 18.1 to 18.4 million coins to be mined by May 2022.

After this, the main supply stops and the tailing supply kicks in at the rate of 0.6 XMR per two-minute block. The idea behind the tailing emission is to create a 0.87% yearly inflation around May 2022, so that miners will still have incentive after the currency is not mineable anymore.

How To Buy Monero (XMR)

1. Changelly

If you are buying cryptocurrencies for the first time, Changelly is the best and the easiest option for you to buy your Monero coins.

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To do this, you will need the following things:

  • First, get your Monero address ready where you would like to receive your Monero.
  • Second, you should have some bitcoins/altcoins to exchange for Monero.
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Note: Though the guide shows how to buy Ripple in exchange for BTC, the process is exactly the same to buy Monero (XMR).

2. ChangeNOW

ChangenNOW is an instant crypto exchange platform, and here you can exchange or buy XMR (Monero) without needing to register an account. This is a huge advantage, as you may want to stay anonymous when getting Monero.

The process of acquiring Monero (XMR) is simple, and all you need to do is,

  • Head over to ChangeNOW website
  • Select the primary coin (ex: BTC, ETH) and select XMR (you get)

On the next page, you need to enter your XMR address on which you want to receive the XMR.

On the final page, send BTC or your primary selected coin, and ChangeNOW will instantly exchange that into XMR.

You also have an option to buy Monero using credit card or debit card via ChangeNOW, as highlighted in the above screenshot.

Note: Ledger Nano X wallet offers Monero wallet.

3. Binance

Binance, one of the busiest cryptocurrency exchanges out there today, has supported the buying/selling of Monero (XMR) ever since its launch in 2017.

However, Binance is a crypto-to-crypto exchange which means fiat currencies like USD, EUR are not supported. Here you can deposit BTC, ETH etc to convert it into Monero cryptocurrency. Following are the supported pairs on Binance exchange for Monero:

  • XMR/BTC
  • XMR/ETH
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They also have user-friendly and robust mobile apps to help people trade cryptocurrencies on the go.(Android App | iOS App) Here is a short video explaining how to trade on Binance mobile apps. The process is same when you trade on Binance’s web version.

Note: You can also claim 50% discount on your trading fee by holding native BNB tokens of Binance exchange.

4. Huobi

Huobi Pro is a leading global digital asset exchange serving global traders since 2013.

To make the exchange autonomous and governable they have introduced HT tokens so that’s why in sort they are decentralized governed platform.

The volume at the time of writing on this exchange is 91000 BTC which I think is very good with 34 cryptocurrencies/crypto assets listed on it.

Following are the supported pairs on Huobi exchange for Monero:

  • XMR/BTC
  • XMR/ETH

5. Bitfinex

Bitfinex is one of the largest and the most popular cryptocurrency exchange that offers many popular coins for buying/selling.

It is based out of Hong Kong and has been operational since 2014. It gives its users the option to trade more than 30 cryptocurrencies/pairs in exchange of USD, EUR, ETH or BTC. That’s why, unlike other exchanges, it is not limited to be a crypto-to-crypto exchange.

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Following are the supported pairs on Bitfinex exchange for Monero:

  • XMR/BTC
  • XMR/USD

And whenever you get bored with the web version or want to trade on-the-go, you can use Bitfinex’s Android and iOS mobile apps. They are quite handy and user-friendly.

6. Gate.io

Gate.io started getting a lot of traction starting the last quarter of 2017. That is because users began to realize how great platform it was to trade dominant cryptocurrencies like Monero.

I have been using the exchange for last 2 months and have no complaints. It has enormous volume and a neat UI for the beginners too.

This too, like Binance, is a crypto-to-crypto exchange. Here too, you need to deposit cryptocurrencies like BTC, ETH etc to buy Monero (XMR). Following are the supported pairs on Gate.io exchange for Monero:

  • XMR/BTC
  • XMR/USDT

Note: They are running a promo where they are offering an exclusive 10% discount on trading fees.

7. MoneroForCash (Currently offline)

MoneroForCash, as is evident from its name, is a service that helps you buy Monero in exchange for your fiat currencies (cash).

Using this service, you can buy and sell Monero (XMR) person-to-person with cash, by mail, money order and more. But beware! It is not like the escrow exchange service of LocalBitcoins.

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Buyers/sellers can advertise on MoneroForCash website and find each other through it to crack a deal in person. You will not find any native Monero wallet here so there is absolutely no chance of losing your funds until you make a horrendous error.

You can find the seller’s ads like this (shown below) on this website, with whom you can meet in person according to the conditions to crack a deal.

Bonus Additions: Best Sites To Buy Monero Cryptocurrency (XMR)

Monero cryptocurrency is rather famous, especially in the dark markets but it has other use cases of privacy, security, and fungibility also. And that is why, in last 3-4 years, it has developed a significant market share and is also being traded on many exchanges.

Some other exchanges/websites that you can use to buy Monero cryptocurrency:

  1. Bittrex: Supported pairs XMR/BTC, XMR/USDT, XMR/ETH
  2. Poloniex: Supported pairs XMR/BTC, XMR/ETH
  3. Kraken: Supported pairs XMR/USD, XMR/EUR, XMR/BTC
  4. Livecoin: Supported pairs XMR/BTC, XMR/USDT
  5. LiteBit: Supported pairs (XMR/EUR)

But one word of caution:

  • Don’t use these exchanges as a wallet to HODL your cryptos.

It is okay if you intend to store the cryptocurrencies on these exchanges for a few hours or even a few days for the sake of trading. Storing your cryptos on them for any longer can put you in losses.

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Therefore, you should get a secure wallet for your Monero cryptocurrency too. You can find the details here – Monero Wallet: How to Create & Use Monero Wallet Address Online; and here.

Time for you to share: Do you own any Monero yet? If not, where do you intend to buy your first XMR coin from? Do you see it becoming one of the next big altcoins? Share your views in the comments section below!

If you like this post, do share it with your friends on Facebook & Twitter!

Harsh Agrawal is the Crypto exchange and bots expert for CoinSutra. He founded CoinSutra in 2016, and one of the industry’s most regarded professional blogger in the fin-tech space.

An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.

An international speaker and author who loves blockchain and crypto world.

After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

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