How to Buy Monero (XMR) in Iceland

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

Step 1 – Signup to Coinbase and get 10$ for free

You'll first need to purchase one of the major currencies. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click the button below for registration and getting your welcome 10$.

Step 2 – Send Your Ethereum or Bitcoin to an Crypto Exchange

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Exchange now. All exchanges have a deposit form that is similar. Monero (XMR) is obtainable on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this manual)

Make sure you've selected the precise coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etcetera. If you're working with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our manual).

Step 3 – Locate Monero (XMR)

Once your deposit has been confirmed, you will instantly have access to your funds and you can launch invest and trading. To purchase Monero (XMR) on Binance, you will want to go to the “Exchange” tab and mouse click on “Basic”.

In order to locate Monero (XMR), you will need to put the cointype (XMR) into the search-box, which is marked in the image. Make sure you have selected the proper grouping, we have marked this too. Click on “XMR/BTC” to continue.

Step 4 – Purchasing (XMR) Monero

After you've discovered (XMR) Monero, you will be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the picture). For now we're creating our Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date rate (XMR) Monero was sold for. You can change this to your favoured 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 will pay for the complete volumen of XMR.

When you are glad, click on “Buy XMR”. Your plan will be filled as soon as a Seller sells their XMR for the price you gave.

Step 5 – Withdraw (XMR) Monero

Unless you are frequently trading, best advise is not to keep your crypto on an Cryptocurrency Exchange for an extensive period of time. In order to take off your Monero (XMR), go to the tab called “Funds” and mouse click on “Withdraw”. (XMR) Monero can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Monero (XMR) by using the provided drop-down box. Enter the quantity of (XMR) Monero you'd wish to withdraw. Don't forget the demonstrated minimus/fees. Also make sure you have filled your precise withdraw address.

If you are happy, click “Submit”. You may be asked for email/phone verification ahead of a withdrawal.

Congratulations! You've successfully bought and safed (XMR) Monero in Iceland.

That's it!

Withdrawals from Crypto Exchange can durate between 1 – 30 minutes (rely on network usage). As soon as you've confirmed your withdrawal using Ethplorer.io or Etherscan.io and the (XMR) Monero is safe inside your wallet, you are done.