How to Buy Monero (XMR) in Ecuador

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

Step 1 – Signup to Kraken

In the beginning you'll need to buy units of the bigger coins. Exchanges usually accept either Ethereum or Bitcoin in exchange for alternative Coins. Click the button below to register and getting your first Ethereum or Bitcoin.

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

Your Ethereum or Bitcoin has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Monero (XMR) is obtainable on Binance, so we will use that as an sample. Unsure on how to send funds from Coinbase to an Exchange? (Follow these easy steps)

Make sure you've selected the exact coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etc. In the case you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).

Step 3 – Find (XMR) Monero

As soon as your deposit has been verified, you will now have access to your funds and you can start buying and trading. To purchase (XMR) Monero on Binance, you will want to hover over the tab which is called “Exchange” and then click on “Basic”.

To locate (XMR) Monero, you'll need to insert the short name of the asset (XMR) into the search box, which is highlighted in the graphic. Be certain of having choosen the correct grouping, we've highlighted this too. Click on “XMR/BTC” to advance.

Step 4 – Buy (XMR) Monero

Once you have located Monero (XMR), you will be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the picture). And now we're going to make our Limit Order.

The “Price” field will be filled with the most latest price Monero (XMR) was traded for. You can change this to your preferred rate. The field with the “Amount” tag is the volumen of XMR you want to purchase. The “Total” field is the whole price in BTC that you will pay for the whole volumen of XMR.

If you're happy, click on “Buy XMR”. Your order will be filled as soon as a Seller sells their XMR for the price you introduced.

Step 5 – Withdraw (XMR) Monero

Unless you're regularly trading, you should never keepyour coins on an Exchange for an extended time period. In order to withdraw your (XMR) Monero, go to the tab called “Funds” and mouse click on “Withdraw”. (XMR) Monero can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Monero (XMR) by using the provided drop-down box. Enter the volumen of Monero (XMR) you'd like to take off. Take into account the displayed fees/minimums. Also make sure you have filled your right withdraw address.

If you're satisfied, click “Submit”. You may be asked for email/phone verification before a withdrawal.

Congrats! You've successfully bought and stored Monero (XMR) in Ecuador.

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on network usage). As soon as you've confirmed your withdrawal with Ethplorer.io or Etherscan.io and the Monero (XMR) is safe inside your wallet, you're finished.
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