If your aim is to acquire XMR with utmost privacy, you’ve landed in the right place.
Within this extensive guide, we’ll instruct you on acquiring Monero without disclosing your identity. Monero, renowned for its privacy-centric features, has experienced a surge in adoption lately. Its appeal lies in providing a confidential transaction environment.
This guide will outline one method for purchasing XMR in NZ; NZ P2P Marketplace.
TLDR: Best way to buy Monero Anonymously and without KYC is NZ P2P Marketplace.
Type of Exchange: P2P Exchange (No KYC)
Tokens Available : 200+
NZ P2P Crypto Marketplace
The NZ P2P Crypto Marketplace was established in 2021 by CNZ’s Harry Satoshi to make it easier for Kiwis to discover and communicate with peer-to-peer crypto traders in NZ.
It’s New Zealand’s best way to locate cryptocurrency traders who won’t require you to hand over your personal information or perform KYC.
Pros Of P2P
✔️ Privacy: P2P trading can offer greater privacy compared to centralized exchanges since users are not required to provide extensive KYC information.
✔️ Decentralized: P2P trading is decentralized, meaning that transactions occur directly between buyers and sellers without the need for intermediaries like banks.
✔️Accessibility: P2P trading can be more accessible to users in regions where centralized exchanges may not be available due to regulatory or infrastructure issues.
✔️ Lower fees: P2P can have lower fees compared to centralized exchanges, as there are no middlemen to charge fees for transactions. However you will often encounter traders selling at a markup.
✔️ More options: P2P trading can offer more payment options, including cash or bank transfers, or swapping other assets, reducing limits for what constitutes crypto trading.
Cons of P2P
❌ Risk of scams: P2P trading poses serious risk of scams, as users may be vulnerable to fraudsters who misrepresent themselves or their offers.
❌ Limited liquidity: P2P trading may have limited liquidity compared to a cex, meaning that it can be more difficult to find buyers or sellers for certain crypto or at certain prices.
❌ No order book: P2P trading does not have an order book, which can make it more difficult for users to determine market prices.
❌ Limited dispute resolution: P2P trading has near zero dispute resolution options compared to centralized exchanges, which have more resources and procedures for handling disputes.
❌ Security risks: P2P trading can pose security risks to users if they do not take proper precautions to protect their private keys and personal information.
❌ 5 dollar wrench attacks: if you meet up to execute P2P trades in the flesh, this can pose serious danger. Learn more.
The Marketplace does not charge any fees for buying and selling crypto but some buyers or sellers may charge upto 5% premium.
Why is It So Hard to Buy XMR (Monero)?
Monero’s elusive nature, rooted in its robust privacy features, makes it challenging to buy Anonymously in New Zealand. The cryptocurrency’s emphasis on anonymity, achieved through technologies like ring signatures and stealth addresses, has raised concern.
The difficulty in tracing Monero transactions contrasts sharply with the transparency sought by many exchanges adhering to stringent regulatory frameworks. Centralized Exchanges may be wary due to its potential association with illicit activities, including money laundering, thus affecting its availability on mainstream platforms.
At Cryptocurrency New Zealand we believe that Monero’s privacy features are essential for safeguarding individual financial sovereignty. We argue that access to Monero should be a fundamental right, emphasizing the need for balanced perspectives in considering the privacy benefits it offers to a diverse range of New Zealanders.
Limited Direct Purchase Options
For individuals in New Zealand seeking to delve into Monero without engaging in KYC processes, a significant hurdle emerges. Most crypto exchanges don’t offer it without having to prove your Identity most commonly know as KYC (Know Your Customer)
Today, it is difficult to acquire Monero on exchanges such as Easy Crypto NZ without having to prove your source of funds, due to regulatory pressure from the NZ government.
Challenges in Anonymously Purchasing Monero
Monero’s allure lies in its emphasis on anonymity, attracting privacy-conscious crypto enthusiasts. Nonetheless, this very characteristic introduces complexities when attempting to Buy Monero (XMR) without KYC.
A strategy for acquiring XMR without disclosing personal details involves utilizing peer-to-peer marketplaces such as LocalMonero or NZ P2P Marketplace. These platforms & Groups facilitate direct connections between buyers and sellers, often enabling transactions in fiat currency or alternative cryptocurrencies without the need for KYC.
P2P Cryptocurrency Trading
Now that we comprehend the challenges associated with buying XMR without excessive compliance, let’s explore the solution: P2P trading. In this method, you purchase Monero directly from another individual, akin to you and me. Typically, KYC requirements are minimal, if not nonexistent, making this approach ideal for kiwis seeking anonymity.
Let’s delve further into the concept of Peer-to-Peer (P2P) trading and explore the available groups that are well-suited for New Zealanders interested in trading XMR.
P2P (peer-to-peer) trading entails the direct exchange of cryptocurrencies between two users, bypassing the need for intermediaries to oversee the transaction process.
As the most direct form of cryptocurrency trading, P2P has its distinct advantages and disadvantages, primarily concerning transaction security and the preservation of privacy.
A P2P crypto trader refers to any individual who engages in the direct buying and selling of cryptocurrencies with other users, foregoing the involvement of exchanges in NZ.
NZ P2P Crypto Marketplace
The NZ P2P Crypto Marketplace was founded in April 2021 with the aim of simplifying the process for Kiwis to connect and engage with P2P crypto traders within the country.
Upon joining the NZ Crypto Marketplace, you’ll encounter various channels dedicated to major regions such as #Auckland, #Wellington, #Christchurch, and NZ Wide, among others. These channels allow you to interact with P2P traders in your area.
Type of Exchange: P2P Exchange (No KYC)
Tokens Available : 200+
NZ P2P Crypto Marketplace
The NZ P2P Crypto Marketplace was established in 2021 by CNZ’s Harry Satoshi to make it easier for Kiwis to discover and communicate with peer-to-peer crypto traders in NZ.
It’s New Zealand’s best way to locate cryptocurrency traders who won’t require you to hand over your personal information or perform KYC.
Pros Of P2P
✔️ Privacy: P2P trading can offer greater privacy compared to centralized exchanges since users are not required to provide extensive KYC information.
✔️ Decentralized: P2P trading is decentralized, meaning that transactions occur directly between buyers and sellers without the need for intermediaries like banks.
✔️Accessibility: P2P trading can be more accessible to users in regions where centralized exchanges may not be available due to regulatory or infrastructure issues.
✔️ Lower fees: P2P can have lower fees compared to centralized exchanges, as there are no middlemen to charge fees for transactions. However you will often encounter traders selling at a markup.
✔️ More options: P2P trading can offer more payment options, including cash or bank transfers, or swapping other assets, reducing limits for what constitutes crypto trading.
Cons of P2P
❌ Risk of scams: P2P trading poses serious risk of scams, as users may be vulnerable to fraudsters who misrepresent themselves or their offers.
❌ Limited liquidity: P2P trading may have limited liquidity compared to a cex, meaning that it can be more difficult to find buyers or sellers for certain crypto or at certain prices.
❌ No order book: P2P trading does not have an order book, which can make it more difficult for users to determine market prices.
❌ Limited dispute resolution: P2P trading has near zero dispute resolution options compared to centralized exchanges, which have more resources and procedures for handling disputes.
❌ Security risks: P2P trading can pose security risks to users if they do not take proper precautions to protect their private keys and personal information.
❌ 5 dollar wrench attacks: if you meet up to execute P2P trades in the flesh, this can pose serious danger. Learn more.
The Marketplace does not charge any fees for buying and selling crypto but some buyers or sellers may charge upto 5% premium.
Cryptocurrency NZ Final Verdict
Monero’s distinctive privacy features pose challenges to its acquisition, particularly through traditional channels that prioritize compliance over anonymity such as Binance.
However, avenues like P2P trading offer promising solutions for individuals seeking to obtain XMR without compromising their privacy. At Cryptocurrency NZ, we firmly advocate for the importance of Monero’s privacy features in protecting individual sovereignty.
We contend that access to Monero should be regarded as a fundamental right, underscoring the necessity for balanced perspectives to fully appreciate the privacy benefits it extends to a diverse range of New Zealanders.
