Buy Monero with a Credit Card

July 24, 2018

With the latest release of Edge, you can now buy Monero using our in app exchange services. If you haven’t set up an Edge Wallet yet, click here to get started.

Using our in-app partner, Simplex, users can buy Bitcoin, Bitcoin Cash, and Ethereum with a credit or debit card. After receiving the BTC, BCH, or ETH in their Edge Wallet users can exchange those crypto-currencies for Monero using ShapeShift. Being able to buy Monero is a first for any cryptocurrency wallet on the market.

Before you start the buying process you should have already set up a Monero Wallet inside your Edge Wallet.

Go from Fiat to Crypto through Simplex

To start the buying process tap on the Menu button at the top right of your wallet.

You will see the menu bar slide to the front of the screen with a few different options. Tap on “Buy Cryptocurrency”.

Right now the only buy-option is with Simplex but we will be adding more options overtime. Tap on Simplex and complete their on-boarding process which will include identity verification.

Keep in mind some cards/banks decline cryptocurrency related transactions. We know for a fact Chase, Wells Fargo, Bank of America, and Citi deny these transactions. You may have to try multiple cards.

Exchange for Monero using ShapeShift

Once you’ve successfully bought BTC, BCH, or ETH through Simplex and it’s in your Edge Wallet go to the exchange scene so you can flip that asset into Monero. The asset usually shows up within a few hours but it could take a day or two.

Once in the exchange scene select the wallet you want to exchange out of as the “Source Wallet” and select your Monero Wallet as the “Receiving Wallet”.

Next, type in the amount you want to exchange. Keep in mind there is a minimum and maximum amount that can be exchanged determined by our partner ShapeShift.

After typing in the amount you want to exchange, a “Next” button will appear under the main exchange scene. ShapeShift is creating the order so it may take up to 30 seconds for the “Next” button to appear. When it does appear Tap on “Next”.

After tapping “Next” a box will pop up showing you, your exchange order. Slide to confirm to complete the exchange.

When Shapeshifting out of BTC or BCH it should take around 30 min to complete. For ETH exchanges its typically a shorter waiting period. After a short wait, your Monero will be in your Edge Wallet!

To check the status of your transaction, go to the Source Wallet you exchanged out of and tap on the transaction entitled “ShapeShift”. Embedded in the notes field of your Transaction Details there’s a link. Copy and paste that link into your browser and it will take you to ShapeShift’s site, showing your exchange and its status.