You can now wire USD to CoinLoan, convert to XMR, and withdraw XMR

Here is an option for people to buy XMR other than Kraken (KYC required):

CoinLoan is a company that allows Monero trading and Monero loans. Most importantly, it allows users to deposit and withdrawal native Monero.

As of yesterday, they allow USD wire transfers (like Kraken). The transferred USD is converted 1:1 to USDC, and users receive this USDC.

Users can then convert this USDC for XMR. The conversion fee seems to be about 2% as far as I can tell.

You can then withdraw the XMR from the platform if you like.

When it comes time to sell XMR, it does not appear that you can receive a wire transfer to your bank account. You can deposit XMR and convert to USDC, but you will need some other way to get back to native USD. You can however make both deposits and withdrawals with EUR, GBP, and RUB.

CoinLoan seems a little more expensive and less flexible than Kraken for USD, but it's good to have options.

submitted by /u/SamsungGalaxyPlayer
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