Here’s How You Can Buy Monero ($XMR) With Your Bank Account!

How To Purchase Monero ($XMR) From Bank Account?

It enables an XMR purchase option for fiat money users, according to the official announcement provided by the Monero.com team. There are four major worldwide currencies available right now.

XMR has been available for purchase in the US Dollar, Euro, Canadian Dollar, and Great Britain Pound since the beginning of the new product. Fiat may be deposited on Monero.com via the SEPA and SWIFT cross-border payment systems, as well as Visa and MasterCard credit cards.

The new service is available in most countries throughout the world, with the exception of the United States and several geo-restricted nations. After “know your customer” (KYC) checks, crypto-to-fiat purchases are permitted. Meanwhile, no KYC is required for crypto-to-crypto transactions on the marketplace.

While the XMR community generally welcomes new services, some members are confused by the requirement to pass KYC checks in order to acquire and sell certain privacy-focused coins.

At the same time, the Monero.com team highlighted that for fiat trades, its KYC policy just requires clients’ ID number, phone number, and a liveness check. There is no requirement for evidence of residency or document copies.

Monero (XMR) has been one of the greatest performers in the market’s current recovery cycle, gaining more than 70% in May after hitting a multi-month low of $120.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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