Monero (XMR) is a cryptocurrency with an emphasis on anonymity. A high level of payment confidentiality is achieved using ring signatures and stealth addresses, and this is not just an additional feature, but one of the key features of the coin.
After the US government took steps regarding the Tornado Cash cryptomixer, the interest of the crypto community in private coins has increased. According to data from aggregators CoinMarketCap and CoinGecko, XMR is traded on a lot of cryptocurrency exchanges, but trading volumes on each individual platform are quite modest.
Any rating to some extent represents one of the variants of private opinion. Therefore, when choosing a platform, do not neglect your own research, in which you will take into account your own goals. Not every platform where it is convenient to occasionally BTC to XMR convert is suitable for active trading and vice versa.
In terms of XMR trading volumes, the Huobi crypto exchange is the leader. Here you can buy and sell Monero on the spot market paired with the stablecoin USDT. This exchange is one of the oldest on the market and has been successfully operating for more than 10 years, although there have also been difficult times in its history. Spot trading, derivatives, p2p market supported. Huobi is aimed at users from almost all corners of the world and provides the ability to perform basic operations with cryptocurrencies without the need for identity verification.
Binance leads the cryptocurrency market in terms of total trading volume. But specifically in terms of Monero turnover, it ranks second. The platform provides the opportunity to both buy and sell the coin itself in pairs with USDT, BUSD, BNB, BTC, ETH. It is also available to trade perpetual derivatives on it. In addition, flexible Monero deposits are available on Binance in the Simple Earn section. Commissions are lower than the market average, but the requirement for mandatory client verification does not suit everyone.
KuCoin ranks third in terms of Monero turnover. The coin is traded in pairs with USDT, BTC and ETH. The site has a convenient localized interface. The ecosystem operates its own native token and web3 tools are available. The Earn section provides many opportunities for passive income, including structured investment products and a landing page. In addition, the platform has a built-in mining pool, but the administration plans to close it and focus on the main functionality. From July 2023, all users are required to pass the KYC, anonymous trading is not possible.
The Gate.io platform provides the ability to trade Monero on both the spot market and futures. In addition, XMR3L and XMR3S tokens with leverage are presented here. These assets have a built-in leverage of 3x and can be bought either high (XMR3L) or short (XMR3S). All in all, Gate.io is an old and functional platform with a strong focus on web3. Gate.io Web3 wallet allows you to interact with dApps.
The LetsExchange fast cryptocurrency exchange service is convenient for buying and selling large amounts of XMR. In addition, the choice of exchange directions greatly exceeds the capabilities of classic crypto exchanges – the service supports more than 3,000 coins and tokens.
You definitely won’t have to wait weeks for an order to be filled. After placing an application, the system automatically finds the current offers that suit you. All operations are performed anonymously, you can use the services of the service even without registration. If necessary, you can immediately exchange ERC20 to TRC20 USDT here without fear of any restrictions.
According to CoinMarketCap, Monero can also be bought on single decentralized exchanges. This became possible thanks to the development of cross-chain compatibility technologies. Decentralized exchanges provide the highest possible degree of user anonymity, but at the moment this is a very risky way to buy and sell XMR. The technology is still quite new, the trading volumes on them are scanty, that is, the risks of technical failures or manipulation of the exchange rate are prohibitively high.