A Step-by-Step-Guide on how to buy Monero (XMR) in Cayman Islands
Step 1 – Join Kraken In the beginning you'll need to buy units of the top-tier currencies. Exchanges usually accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click the button below for registration and receive your first Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Send Your Funds to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is identical. Monero (XMR) is obtainable on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this manual) Make sure you've selected the exact coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so on. If you are using a decentralized exchange, such as Airswap or DDEX could be different (Just follow our how-to).
Step 3 – Locate Monero (XMR) Once your deposit has been affirmed, you'll directly have access to your finances and you can initiate buying and trading. To invest in Monero (XMR) on Binance, you will want to hover over the tab which is called “Exchange” and after that mouse click on “Basic”. To locate (XMR) Monero, you will need to put the short name of the asset (XMR) into the search-box, which is marked in the image. Be certain of having selected the correct pairing, we have marked this also. Click on “XMR/BTC” to continue.
Step 4 – Purchase (XMR) Monero As soon as you've discovered Monero (XMR), you'll be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). Next we're going to create our Limit Order. The “Price” field will be filled automatically with the latest tariff (XMR) Monero was sold for. This can be changed to your favoured rate. The field with the “Amount” tag is the amount of XMR you want to buy. The “Total” field is the total price in Bitcoin that you will pay for the whole amount of XMR. If you are glad, make a mouse click on “Buy XMR”. Your order will be filled when a Vender sells their XMR for the price you offered.
Step 5 – Withdraw (XMR) Monero Unless you are frequently trading, best advise is not to keep crypto coins on an Cryptocurrency Exchange for an longer period of time. To withdraw your (XMR) Monero, hover over the “Funds” tab and click on “Withdraw”. (XMR) Monero can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find (XMR) Monero by using the provided drop-down box. Drop in the amount of Monero (XMR) you would like to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have filled your correct withdraw address. When you're glad, make a mouse click on “Submit”. You may be requested for email/phone verification ahead of a withdrawal.