How to Buy Monero (XMR) in Colombia

A Step-by-Step-Guide on how to buy Monero (XMR) in Colombia

Step 1 – Join CEX.io

In the beginning you'll need to purchase units of the bigger currencies. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click below to register and receive your first ETH (Ethereum) or BTC (Bitcoin).

Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Trader

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. All exchanges have a deposit form that is alike. Monero (XMR) is accessible on Binance, so we will use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Trader? (Just follow these easy steps)

Make sure you have chosen the exact coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etcetera. In the case you're working with a decentralized exchange, like Airswap or DDEX could be divergent (Follow these easy steps).

Step 3 – Find Monero (XMR)

Once your deposit has been affirmed, you will directly have access to your finances and you can start buying and trading. To invest in (XMR) Monero on Binance, you will want to hover over the “Exchange” tab and after that click on “Basic”.

To discover (XMR) Monero, you will need to put the cointype (XMR) into the search-box, which is highlighted in the picture. Be certain of having selected the right pairing, we've marked this too. Click on “XMR/BTC” to go on.

Step 4 – Purchase (XMR) Monero

After you've found Monero (XMR), you'll be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're going to create our own Limit Order.

The field with the “Price” tag will be filled with the recent rate (XMR) Monero was traded for. You can change this to your desired rate. The field with the “Amount” tag is the volumen of XMR you want to purchase. The field with the “Total” tag is the aggregated price in Bitcoin that you will settle for the complete amount of XMR.

When you are happy, make a mouse click on “Buy XMR”. Your plan will be filled as soon as a Seller sells their XMR for the price you offered.

Step 5 – Withdraw Monero (XMR)

Unless you are frequently trading, you should never keepyour crypto coins on an Cryptocurrency Exchange for an extensive period of time. In order to withdraw your Monero (XMR), go to the “Funds” tab and click on “Withdraw”. Monero (XMR) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Monero (XMR) by using the given drop-down box. Drop in the amount of Monero (XMR) you would like to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have entered your right withdraw address.

If you're glad, click “Submit”. You may be requested for email/phone verification before a take off.

Congratulations! You've successfully purchased and stored Monero (XMR) in Colombia.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (depending on network usage). As soon as you've proved your withdrawal with Etherscan.io or Ethplorer.io and the Monero (XMR) is stored within your wallet, you are finished.