How to Buy Monero (XMR) in Ethiopia

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

Step 1 – Join Kraken

You'll first need to buy units of the bigger currencies. Exchanges normally accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Follow the Link below for registration and receive your first Ethereum or Bitcoin.

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

Your Ethereum or Bitcoin 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're going to use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Trader? (Just follow this how-to)

Make sure you have chosen the correct coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. If you are working with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our how-to).

Binance Signup

Step 3 – Locate (XMR) Monero

As soon as your deposit has been confirmed, you will now have access to your funds and you can commence purchasing and trading. To invest in Monero (XMR) on Binance, you will want to go to the tab which is called “Exchange” and then mouse click on “Basic”.

To spot (XMR) Monero, you will need to put the short name of the asset (XMR) into the search box, which is marked in the graphic. Make sure you have choosen the proper pairing, we have highlighted this also. Click on “XMR/BTC” to go on.

Step 4 – Purchase (XMR) Monero

As soon as you have located (XMR) Monero, you will be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the picture). Next we're going to make our own Limit Order.

The “Price” field will be filled with the most recent price (XMR) Monero was sold for. This can be changed to your preferred rate. The “Amount” field is the amount of XMR you want to purchase. The “Total” field is the whole price in Bitcoin that you will pay for the whole volumen of XMR.

If you're happy, make a mouse click on “Buy XMR”. Your plan will be filled when a Vender trades their XMR for the price you introduced.

Step 5 – Withdraw (XMR) Monero

Unless you're regularly trading, never keep your crypto on an Crypto Trader for an longer time frame. To withdraw your (XMR) Monero, go to the “Funds” tab and click on “Withdraw”. (XMR) Monero can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (XMR) Monero by using the given drop-down box. Drop in the volumen of Monero (XMR) you'd wish to take off. Take into account the displayed fees/minimums. Also make sure you have filled your precise withdraw address.

When you're happy, click “Submit”. You could be asked for verfication via email/phone ahead of a take off.

Congrats! You've successfully bought and safed Monero (XMR) in Ethiopia.

That's it!

Withdrawals from Crypto Trader can durate anywhere from 1 – 30 minutes (depending on network usage). As soon as you have confirmed your take off using Etherscan.io or Ethplorer.io and the Monero (XMR) is stored within your wallet, you're all done.
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