How To

How to Buy Monero With Bank Account?

For making a purchase of Monero cryptocurrency by using the bank account you need to first of all purchase Bitcoin from the United States cryptocurrency exchanges. Right now for the people who are sitting in the United States, it is not possible to purchase the Monero cryptocurrency directly using the bank account using any of the methods be it net banking, debit, or credit card. Coinbase is the world's biggest cryptocurrency exchange which trades in Bitcoin. You need to go to the platform of Coinbase cryptocurrency exchange and use your bank account’s credit card to purchase the Bitcoin cryptocurrency from the exchange. In the next step, you need to go to the Binance cryptocurrency exchange which is available to be used in the United States. Over the Binance cryptocurrency exchange, you need to link up your Bitcoin wallet with the application programming interface of Binance exchange. Over the Binance cryptocurrency exchange, you would be shown the prices of Monero cryptocurrency in terms of Bitcoin. After the linking of this step gets completed and you agree to pay the requisite amount of Bitcoin to make a purchase of Monero: the Monero cryptocurrency could be purchased. Very soon within the passage of 5 minutes, you would find your Monero cryptocurrency wallet being credited with the amount of Monero cryptocurrencies you have to opt-in to purchase. However, if you are not residing in the United States you can use other cryptocurrency exchanges such as Kraken to make a purchase of Monero cryptocurrency directly using your bank account. Nowadays it has become fashionable to perform cloud cryptocurrency mining over the third party cryptocurrency mining services providers. The cloud cryptocurrency mining is a process in which you outsource your work of cryptocurrency mining to third-party vendors so that they may bear all the headaches which are inherently build up in the process of cryptocurrency mining. It is not easy for a less technically knowledgeable person to perform cryptocurrency mining on its own. Hence it is often seen that people outsource their work of cryptocurrency mining to the cloud service providers. If you still want to mine cryptocurrency Monero at your home you need to do ample research over the mining hardware, the inherent algorithm, which covers the blockchain of Monero cryptocurrency as well as you need 24 x 7 electric supply for the task to be done with ease. If you choose to do cryptocurrency mining of Monero at your home then you must understand that you will suffer from overhead charges such as cooling, electrification charges, and your home electricity bill might shoot up. It is therefore not advisable to just jump into the well of cryptocurrency mining of Monero if you are technically lesser inclined.

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