A Step-by-Step-Guide on how to buy Monero (XMR) in Guinea
Step 1 – Join Kraken You'll first need to purchase one of the major currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click below for registration and receive your welcome ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Send Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. Monero (XMR) is accessible on Binance, so we will use that as an example. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this manual) Make sure you have selected the right coin you want to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etc. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our guide).
Step 3 – Find Monero (XMR) Once your deposit has been confirmed, you'll now have access to your funds and you can commence invest and trading. To buy Monero (XMR) on Binance, you'll want to go to the “Exchange” tab and click on “Basic”. In order to spot (XMR) Monero, you'll need to insert the shortname of the coin (XMR) into the search-box, which is highlighted in the picture. Make sure you have choosen the correct grouping, we have highlighted this also. Click on “XMR/BTC” to progress.
Step 4 – Purchasing Monero (XMR) After you have spotted (XMR) Monero, you'll be presented with a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're going to make our own Limit Order. The “Price” field will be automatically filled with the most latest rate (XMR) Monero was sold for. This can be changed to your desired price. 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'll pay for the complete volumen of XMR. When you're satisfied, click on “Buy XMR”. Your plan will be filled as soon as a Vendor sells their XMR for the price you offered.
Step 5 – Withdraw Monero (XMR) Unless you are frequently trading, best advise is not to keep your crypto on an Crypto Exchange for an extended time period. In order to withdraw your (XMR) Monero, hover over the “Funds” tab and click on “Withdraw”. Monero (XMR) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find (XMR) Monero by using the provided drop-down box. Enter the quantity of Monero (XMR) you'd like to take off. Take into account the shown minimus/fees. Also make sure you have filled your correct withdraw address. If you're happy, click “Submit”. You may be requested for email/phone verification before a withdrawal.