In June 2023, Binance, one of the world's leading centralized crypto exchanges, announced it would remove 12 privacy coins—including Monero—from its platforms in France, Spain, Poland, and Italy. This move aligns with the regulatory demands imposed by these countries. Notably, Binance already restricted access to Monero (XMR) for U.S. customers back in 2020. Meanwhile, exchanges like Kraken and Gemini continue to support Monero, maintaining compliance with U.S. anti-money laundering laws while offering customers access to this privacy-focused asset.
Since its launch in April 2014, Monero has become the most prominent privacy coin in the crypto space. Unlike Bitcoin or Ethereum, Monero employs advanced privacy protocols including Ring Signatures, RingCT, and Stealth Addresses. These technologies ensure total transaction confidentiality, hiding amounts, sender and receiver identities. Because of its resistance to surveillance, Monero has faced bans in countries like the UAE, Australia, Japan, and South Korea.
Despite restrictions, Monero remains accessible to users who value anonymity. Here’s how you can still get XMR:
Use a VPN to Stay Private
In jurisdictions where VPNs are permitted, using one can shield your IP address while you browse or transact. Choose a provider with a strict no-logs policy, fast speeds, and a strong stance on user privacy. Make sure they don’t store activity logs, IP data, or sell your information to third parties. This step helps preserve your anonymity when acquiring or managing Monero.
Buy Monero via LocalMonero
LocalMonero is a decentralized P2P exchange widely trusted within the Monero community. Sign up without undergoing KYC. Use filters to sort listings by amount, currency, country, and payment methods. Review vendor reputations before sending them your Monero wallet public address. This method gives you control without compromising your privacy.
Start Mining Monero
Monero’s mining algorithm doesn’t require expensive ASIC hardware. A standard CPU and internet connection are enough to get started. Solo mining offers full reward control, while pool mining increases payout consistency. The choice depends on your resources and preferences. Mining is not only profitable—it also contributes to Monero’s decentralization.
Use Centralized Exchanges That Still Support XMR
Kraken and Gemini are among the few centralized exchanges that still list Monero. Register by completing their KYC requirements. Fund your account through bank transfer, credit card, or crypto. Once funds are in place, locate XMR trading pairs like XMR/USD or XMR/BTC. Execute your order, then transfer the purchased Monero to a personal wallet for maximum security.
Never leave large balances on centralized exchanges. After purchase, move your XMR to a trusted wallet such as XMRWallet. It supports instant transactions, full control over your private keys, and doesn’t require any downloads or registrations. It’s fully open-source and supports multiple languages.
Monero offers unmatched privacy in a world of increasing surveillance. Whether you prefer mining, P2P trades, or exchanges like Kraken, XMR remains within reach. By staying informed and taking proactive steps, you can continue to participate in the Monero ecosystem and protect your financial privacy in the digital age.
