How to buy Monero in Australia

Despite what you might read elsewhere, it's now relatively difficult to buy and sell Monero from Australia.

Because of concerns over the traceability of Monero transactions, regulated crypto exchanges are unable to list XMR for trading in Australia.

This means you'll generally need to buy a separate cryptocurrency from an exchange and then exchange that crypto for Monero using an international exchange like KuCoin.

Services like LocalMonero, which facilitated buying and selling of Monero between individuals have now ceased operations.

Our picks for the best places to buy

What's the cheapest way to buy Monero?

While no AUSTRAC-registered exchanges will let you buy or sell Monero in Australia (we checked them all), signing up with one may still be the easiest and cheapest way to buy Monero.

To do so, first deposit AUD on an exchange that offers free bank deposits and low trading fees where you can exchange it for a US stablecoin like USDC or USDT.

Then use those funds to buy XMR on a non-Australian regulated exchange.

You can compare Australian crypto exchanges for buying USDC or USDT below:

What will I need to buy Monero?

If you're planning on buying another crypto and then exchanging that for Monero, you'll need the following to get started:

1. An ID document. Despite being the privacy-focused coin, you'll still need to verify your identity if you want to trade Monero on a crypto exchange. To do so, you'll need to submit an ID document like a passport or drivers licence when creating your trading account.
2. Payment method. In order to buy Monero, you'll also need a payment method. Many exchanges let you deposit funds via bank transfer without charging any fees, which means it's normally the cheapest way to deposit money. You may also be able to deposit via debit or credit card, but will likely be charged a fee to do so.

What is Monero (XMR)?

Monero (XMR) is a decentralised, untraceable digital currency designed to provide secure and private transactions.

A fork of Bytecoin, Monero is built on the CryptoNote protocol and uses a number of features to obscure the origin, amount and destination of transactions.

This digital coin aims to offer a feature important to many cryptocurrency users: privacy. While the world's best-known cryptocurrency, Bitcoin, is widely perceived by the general public to be completely anonymous and untraceable, this isn't actually the case, and it's this lack of privacy that Monero aims to address.

An open-source, crowdfunded project, Monero offers a decentralised and anonymous cryptocurrency that it claims is untraceable, unlinkable, secure, private and resistant to blockchain analysis.

This high level of privacy also means that Monero offers fungibility, which means that every coin has equal value and is interchangeable.

Because no two Monero coins are distinguishable from one another, this removes the risk of XMR (the native token of the Monero network) being refused by vendors or exchanges due to its association with previous transactions such as theft.

Is Monero a good investment?

As with any investment, it is vital you understand the risks and potential upside of the asset before making any financial decision.

With regards to XMR, here are a few things you should consider:

• Criminal concerns. As a coin valued for its privacy and anonymity, Monero has been reportedly linked with criminal activities. For example, whoever was behind 2017's WannaCry crypto-ransomware worm is thought to have exchanged their Bitcoin for Monero, while reports have also nominated XMR as the currency of choice on the dark web black market. This public perception of the coin's links with illicit activities could potentially hamper its widespread adoption.
• Regulation. The threat of new regulations and crackdowns on cryptocurrency from several governments around the world could potentially create increased demand for privacy coins like Monero among people looking to avoid tax and legal barriers. On the other hand, this also leads to fear that privacy coins will themselves be the subject of regulations, which is worth keeping in mind when thinking of buying XMR.
• Competition. Monero is far from the only privacy coin that aims to offer security and anonymity to users. Other similar coins include Dash (DASH), Zcash (ZEC) and Verge (XVG).

Monero (XMR) AUD live price

Use our graph to track the performance of (XMR) over time.

Monero at a glance

Information last updated April 23, 2025 06:04 UTC.

Coin symbol	XMR
Coin Marketcap	AUD$4,213,067,550
Total XMR supply	18,446,744
Circulating XMR	18,446,744
Current price	AUD$360.7772
All time high	AUD$1353.8704
All time high date	January 09, 2018
Notable team members	Riccardo Spagni
Industry	Privacy coins
Token uses	Digital currency
Network	Monero

Monero price performance over time

Historical prices compared with the price of $360.7772.

1 hour	0.40%
24 hours	5.71%
7 days	4.21%
14 days	17.05%

30 days	4.89%
60 days	-1.86%
200 days	50.54%
1 year	86.09%

Frequently asked questions

• Can you buy Monero in Australia?

  Yes, you can still buy Monero in Australia, although many of the most popular crypto exchanges no longer offer it.

• Why can't I buy Monero on Coinspot?

  CoinSpot removed Monero from its platform in 2020 in line with the Australian government policy against privacy coins.

• Is Monero banned or blacklisted in Australia?

  No, Monero is not banned in Australia but regulated crypto exchanges are not available to offer Monero for trading.

• Which wallet supports Monero?

  There are quite a few crypto wallets that support Monero including Ledger wallets, The Trezor Model T, Safe 3 and Safe 5, Feather wallet, Cake wallet, XMRWallet and the Monero GUI wallet.

• Is buying Monero traceable?

  While Monero transactions are private, if you buy XMR directly from a crypto trading platform or exchange, that transaction will be recorded in your trading history.