Financial advisors claim that Monero could have 100x earning potential in 2023. 100x earning potential eludes to quite a bit of equity, making Monero a very appealing coin. Yet, as Monero is one of the newest cryptocurrencies on the market, many people need clarification about what it is and how to buy it. Thankfully, we’re making it easy for you. Keep reading to learn all you need to know about how to buy this crypto coin.
What Is Monero?
Monero, also called XMR, was launched in 2014 but did not gain traction until late 2016. Monero’s initial purpose was to have a database that contained privacy-enhancing techniques to obfuscate transactions. Obfuscating transactions means making them untraceable and completely anonymous, so there is no way to trace transactions to a real-world identity. Due to this, many people working in finance don’t like Monero because they cannot trace the payment and collect data on the people buying it.
Why Its Unique
Although the most significant appeal for Monero is that the transactions are untraceable, the coin does stand out in other ways.
For example, the last software update Bitcoin had was back in 2021. Monero runs software updates every six months, constantly improving transactions’ efficiency. Due to software updates that improve efficiency, fewer fees affect Monero investors. On the other hand, Bitcoin investors face many different fees because of how much it takes to run the platform.
How To Buy Monero
If Monero sounds like a coin you’re interested in, there are a few ways to invest. Although exchange platforms can be an option from home, some are not secure. Going to a Byte Federal Bitcoin ATM will allow you to make a secure purchase with no hidden fees and friendly support staff ready to help.
To start, you will need to download a digital wallet. There are many different digital wallets, so pick one that supports Monero transactions and best suits you. Once you have your secure wallet, you can head to the nearest ATM. Please note that Byte Federal only accepts cash as a form of payment. At the Bitcoin ATM, you will need to register with your government-issued ID. Once registered, select that you wish to purchase Monero, scan the QR code provided by Byte Wallet, then enter as much fiat as you’d like to convert into Monero. The daily limit at a Byte Federal ATM is $29,500.
Once your transaction is complete, you should see the Monero in your wallet shortly. If you have any questions or concerns about your transaction, Byte Federal’s support team is happy to assist.
Learn More About Purchasing Monero Cryptocurrency
These are only a few things to know about how to buy Monero, but if you’re buying from a crypto ATM, the process is relatively easy.
The most challenging part could be finding an ATM, but we even make that simple for you.
Check out this page to find the Bitcoin ATM that’s closest to you!