Citing the Monero(XMR) price changes over the past two years from Feb 2019 to January 2021 , anyone would be interested to invest in this cryptocurrency. By the time of writing this post, Monero was being traded at Rs.17,359
Monero is the native cryptocurrency of the platform. It is the one of the largest cryptocurrency by market capitalization, after Bitcoin, xmr etc. However, considering its lower price than Bitcoin it’s a wise call to invest in Monero. You can buy more assets at a lower investment, and earn a high dividend.
Looking for the best exchanges to buy and sell Monero in India, here is a comprehensive list based on market capitalization, liquidity. volume, fees, ease-of-use as well as the confidence regarding the legitimacy of the exchange.
PCEX Member, one of the cryptos exchange, that allows you to trade XMR on spot as well as futures markets, and there are many good reasons that contribute to your ease and earning potential. It’s one of the crypto exchanges in India that allows you to invest in INR fiat currency. The transaction fee is a flat 0.3%. You do not have to pay any withdrawal fee up to INR50,000 through its standard process. If you want immediate withdrawal then also you pay a nominal INR10 as fee. When talking about futures contracts, the lot sizes are small, which means you do not have to wait for long to get it filled up. It’s spot trading volume stood at (55,945) at the time of writing this post (January 21, 2021).
Buy and sell Monero on Binance, a Malta-based crypto trading exchange. Its spot market capitalization was noted as $15,642,710,668. After PCEX Member, this is the second to offer the facility to buy XMR in INR. The maker or buyer fee is 0.01% and taker fee is 0.04%.
Bittrex Global is based in Liechtenstein and Bermuda. The company that was incorporated on 19th May 2020 positions itself as a trusted cryptocurrency exchange with high-end security. Bittrex Global (Liechtenstein) has to comply with the KYC/AML/CFT standards under the Due Diligence Act. It is monitored by the Financial Market Authority (FMA). Its spot market capitalization stands at $163,565,198. The trading platform levies taker fee in the range 0.2 to 0.08% and maker fee in the range 0.2% to 0.0%.
Established in 2013, Coinmama is based out in Israel. It offers a fast, safe and fun way to buy and sell Monero in India. Credit/debit card or bank transfer payment is accepted. The verification process is simple. Enter and confirm your personal details and then upload some form of ID. However, the transaction fees for purchasing coins with fiat money are high. Coinmama's market rate is based on the XBX + 2%. In addition, there is a commission fee of up to 3.90% on buy transactions and up to 0.9% on sell transactions. If you are making payment through credit/debit card transactions, be ready to pay a 5% momentum fee also.
Crypto.com, a leading platform headquartered in Cayman Islands, allows you to buy Monero in India. You can buy crypto with a fiat wallet or with credit or debit card. Its spot market trading volume stands at $175,932,236. The platform was founded in November 2019. Its rewards depositors with a 2% bonus paid in CRO for any crypto deposits (on-chain). However, there are certain terms and conditions of eligibility.
Founded in June 2014, Gemini Trust Company, LLC is a digital currency exchange and custodian based in New York and it’s regulated by the New York State Department of Financial Services (NYDFS). Gemini allows you to trade in Monero (XMR). Spot and Futures both trading options are available to you. INR fiat is currently not accepted, but you can buy in USD. It also supports AUD, CAD, and HKD. Its spot markets trading volume stands at $241,291,609.