Monero (XMR) is a cryptocurrency built on blockchain technology that prioritizes privacy and fungibility. Unlike Bitcoin, where transactions are transparent, Monero masks the details of its public ledger using technologies like stealth addresses, ring signatures and Ring CT. This makes transaction details such as sender, receiver and amount confidential and untraceable.
When looking for the best Monero exchanges, users often prioritize anonymity, security, supported trading pairs and ease of use. Because of the cryptocurrency’s privacy features, some larger, highly regulated exchanges may have delisted it or have stricter know-your-customer (KYC) requirements. Decentralized exchanges (DEXs) and peer-to-peer (P2P) platforms offer greater anonymity but might have liquidity or ease-of-use tradeoffs.
Here are the five best exchanges that support Monero trading or conversion.
Best Monero Exchanges
- Kraken — Best for Security
- KuCoin — Best for Advanced Trading Features
- MEXC — Best Wide Selection
- TradeOgre — Best for Privacy
- Changelly — Best for Quick Crypto Swaps
How We Chose The Best Monero Exchanges
We chose the best Monero exchanges by focusing on key criteria crucial for XMR users: security, supported trading pairs and ease of use. We evaluated each platform’s KYC requirements, security infrastructure, variety of XMR trading options and overall user experience.
The Best Monero Exchanges
Kraken — Best for Security
Kraken is a cryptocurrency exchange known for its robust security measures and a variety of supported cryptocurrencies. The platform secures user funds using advanced cold storage and hot wallet solutions. Its crypto infrastructure resides in secure cages under 24/7 surveillance by armed guards, alarm systems and CCTV monitoring. Kraken was also one of the first exchanges to receive a Proof of Reserves audit.
Its user-friendly platform strikes a balance between regulatory compliance and accessibility. It requires know-your-customer (KYC), but its strong security features and liquidity make it a popular choice for many XMR traders.
- Fees: Kraken’s fees range from zero to 0.25% per trade, depending on your 30-day trading volume. Deposit and withdrawal fees vary by cryptocurrency and method. There are no account minimums to open an account.
- Investment Access: Kraken supports more than 200 cryptocurrencies, including XMR. It offers a variety of trading pairs for Monero, including XMR to U.S. dollars (USD), euros (EUR), Ethereum (ETH), Tether (USDT), British pounds (GBP) and Canadian dollars (CAD).
- Platform Experience: Kraken offers a desktop interface with advanced charting tools as well as a mobile app. The platform caters to both beginners and experienced traders.
- Tools and Education: Kraken provides educational resources through its Kraken Learn section, offering guides, articles and market analysis. It also provides staking services for some cryptocurrencies, but there are regulatory issues for staking in the U.S.
- Drawbacks: Kraken requires full KYC verification, so it’s not a truly anonymous option. There have been regulatory investigations and fines in the past. Kraken has also delisted Monero for users in some regions, such as Ireland and Belgium, because of regulatory pressure.
Who It’s Best For: Users who want a secure and regulated exchange to trade Monero with good liquidity, who are comfortable with KYC requirements and want a trading platform with diverse fiat and crypto pairs.
KuCoin — Best for Advanced Trading Features
For traders who want advanced functionalities when dealing with Monero (XMR), KuCoin is a great choice. Beyond offering XMR trading pairs, KuCoin equips users with a comprehensive suite of tools, including margin trading to amplify positions with leverage and futures trading for sophisticated speculation on Monero’s future price movements. KuCoin’s trading bots, such as Grid Bots and DCA Bots, allow users to automate complex XMR strategies, taking advantage of Monero’s price volatility and enabling continuous trading activity without constant manual oversight.
- Fees: Trading fees start at 0.1%. Deposit fees for crypto are generally free, but withdrawal fees vary.
- Investment Access: KuCoin has a large selection of cryptocurrencies and often lists new and less established coins alongside major ones. Monero is available for trading against various pairs, including USDT, ETH and Bitcoin (BTC).
- Platform Experience: KuCoin’s feature-rich platform is accessible via desktop and a mobile app. It caters to various trading styles, including spot, margin and futures trading.
- Tools and Education: KuCoin provides opportunities for staking and lending and offers trading bots to automate strategies. It has some educational content, but the platform is geared toward more experienced users.
- Drawbacks: Increasing global regulations mean KuCoin may impose stricter KYC, impacting its anonymous appeal. Customer support has been criticized for being slow. It’s also an unregulated exchange in many jurisdictions.
Who It’s Best For: Experienced cryptocurrency traders and altcoin hunters looking for a variety of digital assets, including Monero, with competitive fees.
MEXC — Best for Wide Selection
MEXC is a rapidly growing cryptocurrency exchange that supports a wide range of cryptocurrencies. It gives users the option to trade without mandatory KYC for certain limits, making it an attractive option for those prioritizing anonymity when trading Monero and its wide array of trading pairs
- Fees: Trading fees are as low as 0.02% for spot trading, with potential for further reductions. Deposit fees are typically free for cryptocurrencies, and withdrawal fees vary.
- Investment Access: MEXC offers a selection of more than 4,200 cryptocurrencies including many newer and meme coins. Monero is available for trading against a significant number of pairs, including USDT, BTC and ETH.
- Platform Experience: MEXC’s trading platform includes spot, futures and copy trading options. Its web interface and mobile app accommodate a range of traders from retail to traditional.
- Tools and Education: MEXC offers features like demo trading and copy trading, making it accessible for users who want to learn or automate their strategies. It also highlights a Memecoin Zone for niche interests.
- Drawbacks: KYC is optional for some activities, but regulatory shifts may cause users to be prompted for verification for higher withdrawal limits or specific services.
Who It’s Best For: Users who prioritize anonymity and want to trade Monero without immediate KYC verification and are interested in exploring a variety of altcoins.
TradeOgre — Best for Privacy
TradOgre is a small cryptocurrency exchange that appeals to privacy-conscious users because it does not collect KYC information. It supports a narrower range of cryptocurrencies compared to larger exchanges, but Monero is typically available for trading. Its focus on simplicity and privacy makes it a good choice for people who value discretion.
- Fees: TradeOgre’s fee is about 0.2% for trades. Specific deposit and withdrawal fees apply, depending on the cryptocurrency.
- Investment Access: TradeOgre focuses on a curated selection of cryptocurrencies, including privacy coins like Monero. Trading pairs involving XMR may be limited compared to larger exchanges, often against BTC or USDT.
- Platform Experience: The platform’s straightforward interface appeals to users who want a no-frills trading experience. It lacks many advanced trading features or complex charting tools found on larger exchanges.
- Tools and Education: TradeOgre offers minimal educational resources or advanced trading tools. Its main appeal is its simplicity and focus on direct trading.
- Drawbacks: Liquidity might be lower compared to major platforms, potentially leading to wider bid-ask spreads for larger trades. Because of its less regulated nature, users should be cautious and understand the risks.
Who It’s Best For: Experienced, privacy-focused users who want minimal KYC and simple crypto-to-crypto trading of Monero and are comfortable with lower liquidity.
Changelly — Best for Quick Crypto Swaps
Designed for speed, Changelly allows users to swap between more than 500 cryptocurrencies, including Monero, without needing to deposit funds onto the platform. It offers a straightforward interface for directly converting one crypto to another.
- Fees: Changelly charges fees of up to 0.25% on crypto exchanges. There are no account minimums. You only send the amount of crypto you want to exchange.
- Investment Access: Changelly provides access to more than 500 cryptocurrencies, including Monero. It focuses solely on crypto-to-crypto swaps and crypto purchases with fiat.
- Platform Experience: The user-friendly platform is available on both its website and through a mobile app. The process for exchanging Monero is typically just a few steps: Select your desired swap, enter the recipient address and send your funds.
- Tools and Education: Changelly provides a basic blog with cryptocurrency news and guides, but its focus is on facilitating quick exchanges rather than offering in-depth investment tools or extensive educational resources.
- Drawbacks: Users are responsible for managing their private keys and wallet security.
Who It’s Best For: Users looking for a fast, straightforward and secure way to exchange Monero for other cryptocurrencies without using complex trading interfaces or account registration.
Choosing The Best Monero Exchanges
Choosing the ideal Monero exchange depends on your priorities.
Kraken stands out for its security and good liquidity, making it suitable for those comfortable with KYC for enhanced safety. For users prioritizing a wide selection of altcoins and competitive fees, MEXC offers extensive options. KuCoin stands out for its advanced trading features. For the utmost privacy and peer-to-peer control, TradeOgre caters to users seeking minimal to no KYC and direct transactions, while Changelly is great for people who want to complete transactions quickly.
Align your platform choice with your needs regarding anonymity, security preferences, desired trading pairs, ease of use and risk tolerance to ensure the best Monero trading experience.
Frequently Asked Questions
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Monero’s privacy features, such as hidden transaction details, mean some highly regulated exchanges may delist it or require strict KYC, pushing users to decentralized or peer-to-peer options for greater anonymity.
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Prioritize security, supported trading pairs and ease of use. Consider KYC requirements.
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Centralized exchanges like Kraken and KuCoin offer higher liquidity and more trading pairs but require KYC. Decentralized platforms like TradeOgre and Changelly provide greater privacy and minimal KYC but have lower liquidity.
Related content: How to Buy Monero (XMR)
