A Step-by-Step-Guide on how to buy Monero (XMR) in Grenada
Step 1 – Join Kraken In the beginning you'll need to purchase units of the bigger currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for Altcoins. Click the button below to register and to get your first BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Transmit Your Bitcoin or Ethereum to an Crypto Trader Your Bitcoin or Ethereum will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Monero (XMR) is available on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Exchange? (Follow this how-to) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. If you're using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our manual).
Step 3 – Find Monero (XMR) Once your deposit has been verified, you will directly have access to your finances and you can initiate buying and trading. To buy Monero (XMR) on Binance, you'll want to hover over the “Exchange” tab and then click on “Basic”. In order to locate Monero (XMR), you'll need to put the shortname of the coin (XMR) into the search-box, which is highlighted in the graphic. Be certain of having selected the correct pairing, we've marked this too. Click on “XMR/BTC” to continue.
Step 4 – Buying Monero (XMR) As soon as you've discovered (XMR) Monero, you'll be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). And now we are creating our Limit Order. The “Price” field will be filled with the most recent valuation (XMR) Monero was sold for. This can be changed to your favoured price. The “Amount” field is the amount of XMR you want to buy. The “Total” field is the aggregated price in BTC that you'll settle for the complete quantity of XMR. If you are satisfied, click on “Buy XMR”. Your order will be filled as soon as a Vendor sells their XMR for the price you submitted.
Step 5 – Withdraw Monero (XMR) Unless you're trading, best advise is not to keep your crypto coins on an Crypto Exchange for an extensive time frame. In order to take off your Monero (XMR), go to the tab called “Funds” and mouse click on “Withdraw”. Monero (XMR) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Monero (XMR) by using the given drop-down box. Drop in the volumen of Monero (XMR) you would wish to take off. Don't forget the shown 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 asked for verfication via email/phone ahead of a take off.