A Step-by-Step-Guide on how to buy Monero (XMR) in Guyana
Step 1 – Signup to CEX.io In the beginning you'll need to buy one of the bigger coins. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click the button below for registration and getting your first Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Monero (XMR) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this guide) Make sure you have selected the correct coin you would like to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are using a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our guide).
Step 3 – Locate (XMR) Monero As soon as your deposit has been approved, you'll instantly have access to your finances and you can begin buying and trading. To invest in Monero (XMR) on Binance, you will want to go to the tab which is called “Exchange” and mouse click on “Basic”. To find Monero (XMR), you'll need to put the short name of the asset (XMR) into the search-box, which is highlighted in the image. Make sure you have choosen the correct pairing, we've highlighted this too. Click on “XMR/BTC” to advance.
Step 4 – Buying (XMR) Monero As soon as you have located Monero (XMR), you'll be presented with a Price Chart (in the Center of the picture) and some Order Books (Leftside of the image). And now we're creating our own Limit Order. The “Price” field will be automatically filled with the most up-to-date price Monero (XMR) was sold for. You can change this to your desired rate. The “Amount” field is the quantity of XMR you want to purchase. The “Total” field is the aggregated price in Bitcoin that you will settle for the whole quantity of XMR. If you are satisfied, make a mouse click on “Buy XMR”. Your order will be filled as soon as a Vender trades their XMR for the price you offered.
Step 5 – Withdraw (XMR) Monero Unless you are frequently trading, best advise is not to keep your crypto coins on an Cryptocurrency Exchange for an extensive time period. In order to take off your Monero (XMR), hover over the tab called “Funds” and click on “Withdraw”. (XMR) Monero can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate (XMR) Monero by using the provided drop-down box. Put into the amount of Monero (XMR) you'd like to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have entered your precise withdraw address. If you are happy, click on “Submit”. You could be asked for phone/email verification before a withdrawal.