A Step-by-Step-Guide on how to buy Monero (XMR) in Armenia
Step 1 – Join Kraken In the beginning you'll need to purchase units of the major currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Click below for registration and receive your welcome Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transmit Your Bitcoin or Ethereum to an Crypto Trader Your Bitcoin or Ethereum has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is identical. Monero (XMR) is accessible on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this how-to) Make sure you've chosen the exact coin you wish to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. If you are using a decentralized exchange, such as Airswap or DDEX could be opposed (Follow these easy steps).
Step 3 – Locate (XMR) Monero Once your deposit has been approved, you'll immediately have access to your funds and you can commence purchasing and trading. To buy Monero (XMR) on Binance, you'll want to hover over the “Exchange” tab and click on “Basic”. To spot Monero (XMR), you'll need to put the cointype (XMR) into the search box, which is highlighted in the picture. Make sure you have selected the proper pairing, we have marked this too. Click on “XMR/BTC” to continue.
Step 4 – Purchase (XMR) Monero Once you've found Monero (XMR), you will be given a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). Next we're making our Limit Order. The “Price” field will be filled automatically with the most up-to-date price Monero (XMR) was sold for. This can be changed to your desired price. The “Amount” field is the amount of XMR you like to buy. The field with the “Total” tag is the whole price in BTC that you'll pay for the whole amount of XMR. If you're glad, make a mouse click on “Buy XMR”. Your plan will be filled when a Seller trades their XMR for the price you gave.
Step 5 – Withdraw Monero (XMR) Unless you are trading, best advise is not to keep your crypto on an Cryptocurrency Exchange for an extensive time period. In order to take off your Monero (XMR), hover over the tab called “Funds” and click on “Withdraw”. Monero (XMR) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Monero (XMR) by using the given drop-down box. Drop in the quantity of Monero (XMR) you'd like to withdraw. Take into account the presented minimus/fees. Also make sure you have entered your correct withdraw address. If you're glad, click “Submit”. You may be asked for verfication via phone/email ahead of a withdrawal.