A Step-by-Step-Guide on how to buy Monero (XMR) in Grenada
Step 1 – Join Coinbase – Get Free $10 You will first need to purchase units of the bigger currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click below to register and getting your first 10$.
Step 2 – Transmit Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Cryptocurrency Exchange 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 funds from Coinbase to an Cryptocurrency Exchange? (Follow this guide) Make sure you have selected the correct coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so on. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our guide).
Step 3 – Find (XMR) Monero As soon as your deposit has been verified, you'll directly have access to your funds and you can start buying and trading. To buy (XMR) Monero on Binance, you will want to hover over the “Exchange” tab and after that mouse click on “Basic”. To discover (XMR) Monero, you'll need to insert the shortname of the coin (XMR) into the search-box, which is highlighted in the image. Make sure you have selected the proper pairing, we have marked this too. Click on “XMR/BTC” to progress.
Step 4 – Purchase (XMR) Monero After you've found (XMR) Monero, you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the image). For now we're going to create our own Limit Order. The field with the “Price” tag will be filled with the most recent price Monero (XMR) was sold for. This can be changed to your favoured rate. The field with the “Amount” tag is the quantity of XMR you want to buy. The “Total” field is the whole price in Bitcoin that you'll settle for the whole amount of XMR. When you are happy, click on “Buy XMR”. Your order will be filled as soon as a Seller sells their XMR for the price you gave.
Step 5 – Withdraw (XMR) Monero Unless you're frequently trading, best advise is not to keep your coins on an Exchange for an longer time period. To take off your Monero (XMR), hover over the “Funds” tab and click on “Withdraw”. (XMR) Monero can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate (XMR) Monero by using the given drop-down box. Drop in the volumen of Monero (XMR) you'd like to withdraw. Take into account the shown fees/minimums. Also make sure you have filled your correct withdraw address. If you are happy, click “Submit”. You may be asked for phone/email verification before a take off.