Bitcoin has been building some significant momentum recently. Between the BTC spot ETFs being possibly approved and the upcoming reward halving, the stars seem aligned for another rally.
Monero holders, on the other hand, haven’t had a lot of good news regarding their assets. Regulations have been tightening all across the globe for privacy coins. This has put a shade over XMR and its upside potential in a prospective bullish cycle.
Many investors a looking at the possibility of selling their XMR for BTC and taking advantage of the momentum. An XMR to BTC calculator seems like the best place to start your trading journey.
In this article, we provide you with a list of the best exchanges where you can trade Monero for Bitcoin.
Godex is a privacy-focused exchange that offers more than 300 different cryptocurrencies. It doesn’t require any type of registration, which makes it ideal when swapping XMR for BTC. Moreover, you can not only trade here but also read some insights — for example, XLM or Gala prediction.
The absence of KYC allows you to keep your identity separate from your crypto holdings, adding more security for your assets. Moreover, it doesn’t have any upper limits regarding daily volume, so you can swap large amounts of XMR in one go.
Finally, it’s worth noting that every crypto on Godex can be exchanged for each other. This adds a lot of flexibility and removes the need to go through stablecoins.
Pro Tip: Godex has a very lucrative referral program that allows you to make profits from your friends’ trades.
Since its launch in July 2017, the Binance exchange experienced staggering growth, one of the most impressive in the crypto industry. Quickly after the exchange went live, it amassed millions of users and billions in trading volume overnight.
The marketing and management genius of its founder Changpeng Zhao allowed Binance to list some of the most sought-after cryptocurrencies at that time. Over the years, the exchange became a trusted space for traders to access almost any feature one could think of.
Futures, spot trading, grid bots, staking programs, and launchpads — Binance has it all. It provides a complete package for anyone trying to trade the most popular cryptocurrencies on the market.
Pro Tip: Binance requires full KYC before you can start trading.
KuCoin launched almost right after Binance, in September 2017. Although it wasn’t as successful as its competitor, the exchange managed to build a strong user base.
In recent years, it has pioneered the industry by listing lesser-known cryptocurrencies that have enormous demand within the community. Over time, the exchange has added more features, such as futures trading, competitions, and revolutionary community-building tools for projects.
Pro Tip: recently, the exchange had to restrict its services to the US and Canada due to regulatory scrutiny.
Kraken is a US-based centralized cryptocurrency exchange that holds a license as a Money Services Business with FinCEN. This allows it to serve users in the United States, unlike Kucoin and Binance. Moreover, it is equally regulated in Canada and the EU, covering these two regions where competitors remain under restriction.
This exchange is one of the oldest in the industry and has been providing trading services since 2013. It was one of the only exchanges active during the demise of Mt.Gox, and many credit Kraken for the survival of the crypto industry as a whole.
Pro Tip: as a regulated exchange, Kraken requires full KYC before using its trading services. This is less than ideal for exchanging Monero, which is a privacy coin.
Similar to Godex, Simpleswap provides limitless and privacy-focused crypto swaps. As its name suggests, its user interface is beginner-friendly and accessible to anyone.
Moreover, it offers floating and fixed rates, so the user can pick the best rate depending on the volatility of the market.
Pro Tip: SimpleSwap is an excellent KYC-free exchange for beginners.
Which One Should You Choose?
When exchanging XMR for BTC, privacy should remain the focus of the user. As a result, you should opt for Godex or Simpleswap, as they allow you to access their services only with a crypto wallet.
Thus, you will maintain a bit of privacy when conducting your transactions and keep another layer of security between you and your holdings.