By
Thomas StelzerReviewed by
Fred SchebestaUpdated
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.
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Coinbase Australia
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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:
We currently don't have that product, but here are others to consider:
How we picked theseIf you're planning on buying another crypto and then exchanging that for Monero, you'll need the following to get started:
"Despite being one of the largest cryptocurrencies, Monero can't be easily traded in Australia. This is because of the fact that Monero transactions are untraceable and can potentially be used to aid things like money laundering."
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.
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:
| Coin symbol | XMR |
|---|---|
| Coin Marketcap | AUD$7,517,230,890 |
| Total XMR supply | 18,446,744 |
| Circulating XMR | 18,446,744 |
| Current price | AUD$570.43 |
| All time high | AUD$1.4 |
| All time high date | January 14, 2026 |
| Notable team members | Riccardo Spagni |
| Industry | Privacy coins |
| Token uses | Digital currency |
| Network | Monero |
Historical prices compared with the price of $570.43.
| 1 hour | 0.23% |
|---|---|
| 24 hours | -0.71% |
| 7 days | 8.61% |
| 14 days | 9.42% |
| 30 days | 24.33% |
|---|---|
| 60 days | 20.35% |
| 200 days | 28.66% |
| 1 year | 45.92% |
Despite dipping in September, the price of Bitcoin is up over 8% in the last month with Ether following at 4%. Meanwhile, Altcoins have been having a moment with BNB one of the top performers, jumping over 20% in the last 30 days alone, XRP up 6% and SOL having jumped 11%.
Meanwhile crypto exchanges in Australia will soon need to hold a financial services license (AFSL) under new draft legislation. Once rolled out, it means exchanges will be held to the same reporting and compliance standards as superfunds and online brokers.
Disclaimer: Cryptocurrencies, including Monero, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XMR is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Monero or any other cryptocurrency discussed.
Yes, you can still buy Monero in Australia, although many of the most popular crypto exchanges no longer offer it.
CoinSpot removed Monero from its platform in 2020 in line with the Australian government policy against privacy coins.
No, Monero is not banned in Australia but regulated crypto exchanges are not available to offer Monero for trading.
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.
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.
Tom Stelzer is a journalist with 6 years of experience covering personal finance, specialising in investment and cryptocurrency. With a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney, Tom provides expert analysis on digital assets and market trends, helping readers navigate the fast-evolving world of finance. See full bio
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