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Richard Langford

An ordinary older guy.
Jan 10, 2025
499
I pretty much know the answer but I thought I'd ask just in case. Anyone aware of a reputable British Exchange where Monero (XMR) can be bought with fiat GBP? It'll almost certainly be no but I'm asking anyway to save me a step.
 
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identity0

identity0

.
Sep 25, 2024
344
Looking for a British exchange specifically is a big limitation, I doubt that is possible. I'm not aware of such.

You could probably deposit GBP directly to Bitfinex and buy xmr on there if you really want to avoid buying another intermediary cryptocurrency. That might be the cheapest way depending on their GBP deposit options. But that's probably only worth the effort if you were going to trade a larger amount than what i expect your plans require.

If you care about convenience and time, it is probably faster and easier to use a more noob-friendly exchange to buy dogecoin or something. It then only takes a couple of minutes and 0.5% fee to swap another cryptocurrency to monero using fixedfloat so it's not a big issue. Try installing cakewallet and see what options are in there, it might even let you buy xmr with credit card
 
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Richard Langford

An ordinary older guy.
Jan 10, 2025
499
Looking for a British exchange specifically is a big limitation, I doubt that is possible. I'm not aware of such.

You could probably deposit GBP directly to Bitfinex and buy xmr on there if you really want to avoid buying another intermediary cryptocurrency. That might be the cheapest way depending on their GBP deposit options.

However if you care about convenience and time, it is probably faster and easier to use a more noob-friendly exchange to buy dogecoin or something. It then only takes a couple of minutes and 0.5% fee to swap another cryptocurrency to monero using fixedfloat so it's not a big issue.
No, its not a huge issue. I was just wondering if there were British Exchanges out there to just simplify the process. In the end, it'll probably be GBP > LTC > XMR on Cakewallet > Monero Wallet. What most seem to do these days.
 
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Unspoken7612

Specialist
Jul 14, 2024
388
I chose Kraken, which doesn't allow XMR purchases. I then sent my purchased BTC to an exchanger, which sent XMR to my wallet.
 
U

Unspoken7612

Specialist
Jul 14, 2024
388
In the UK?
Yes, I am in the UK. I don't think the sites are, but they're allowed to operate here and Kraken in particular clearly follows UK laws on Know Your Customer, protecting investors, etc.
The site I used for changing the Bitcoin into Monero was called ChangeNow, but there are others.
(I believe it's within the site rules to say this as it isn't about sourcing materials used for suicide, it's just an everyday service like a bureau de change or a bank)

I did have warning messages pop up saying that the fees would be quite a large proportion of the transaction, but that wasn't an issue for me; I had/have more than enough money and wasn't concerned about being "efficient". But for someone who has limited funds, or isn't sure if they're going to die, or for whatever reason is more concerned about this than I am, that might be a consideration.

To be honest I'm surprised Monero isn't more widely exchanged. I guess the decentralised nature might pose technical problems, but in general it seems a more appealing cryptocurrency than the established players.
 
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Richard Langford

An ordinary older guy.
Jan 10, 2025
499
So you went Kraken (to buy the Bitcoin) > changenow (to change it into Monero) > localwallet

All UK based? It's an option thank you.

I was thinking Buy LTC in Cakewallet > Exchange LTC to Monero in cakewallet > local Monero wallet.

I'm not bothered about the fees just simplicity and sureity of it working.
Yes, I am in the UK. I don't think the sites are, but they're allowed to operate here and Kraken in particular clearly follows UK laws on Know Your Customer, protecting investors, etc.
The site I used for changing the Bitcoin into Monero was called ChangeNow, but there are others.
(I believe it's within the site rules to say this as it isn't about sourcing materials used for suicide, it's just an everyday service like a bureau de change or a bank)

I did have warning messages pop up saying that the fees would be quite a large proportion of the transaction, but that wasn't an issue for me; I had/have more than enough money and wasn't concerned about being "efficient". But for someone who has limited funds, or isn't sure if they're going to die, or for whatever reason is more concerned about this than I am, that might be a consideration.

To be honest I'm surprised Monero isn't more widely exchanged. I guess the decentralised nature might pose technical problems, but in general it seems a more appealing cryptocurrency than the established players.
This apparently is an option....

Monero without KYC through Cake Wallet buy clicking on "Buy" and selecting "DFX" as the onramp provider. You need to send them the money via SEPA (Euro) bank transfer and they will send you the Moneros the next day. I've used them before and it worked fine each time but you need to wait a day.
 
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identity0

identity0

.
Sep 25, 2024
344
To be honest I'm surprised Monero isn't more widely exchanged. I guess the decentralised nature might pose technical problems, but in general it seems a more appealing cryptocurrency than the established players.
For actually making payments it is very popular. The few real applications of cryptocurrency where people are using it for transactions tend to seriously benefit (or need) the privacy that only monero provides. However, the market as a whole no longer cares about the same things as it did originally. These days people are focused on an investment thesis about adoption as 'digital gold' by institutions like BlackRock, governments and banks etc. There seems to be much more money in that than fringe markets that want to have a tool to transact freely.

Another major factor, which sounds almost like conspiracy theory, is that it has been directly suppressed by 'regulatory pressures' on any exchanges that deal with it because there are certain powers that really want all cryptocurrencies to be like a mass surveillance tool. For those who watch and read closely, there is evidence that there has been a lot of involvement by 'three letter agencies' in the cryptocurrency space and they have a lot of power in directing it
 
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R

Richard Langford

An ordinary older guy.
Jan 10, 2025
499
Apparently, COINSBLACK offer a straight GBP to XMR viav BankCard service but their commission looks exorbitant. Probably just as easy to use Cakewallet to buy then swap and far cheaper.
 

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