How to Buy Monero (XMR) in Iraq

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

Step 1 – Join Kraken

You'll first need to purchase one of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below for registration and to get your first Bitcoin or Ethereum.

Step 2 – Send Your Funds to an Crypto Trader

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Monero (XMR) is available on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Follow this manual)

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

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so on. If you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Just follow our manual).

Step 3 – Locate (XMR) Monero

Once your deposit has been approved, you'll directly have access to your assets and you can initiate invest and trading. To invest in Monero (XMR) on Binance, you'll want to go to the tab which is called “Exchange” and then click on “Basic”.

In order to find Monero (XMR), you'll need to insert the short name of the asset (XMR) into the search box, which is marked in the image. Be certain of having selected the proper pairing, we have marked this too. Click on “XMR/BTC” to proceed.

Step 4 – Buying (XMR) Monero

As soon as you've discovered (XMR) Monero, you will be given a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). Next we are going to create our Limit Order.

The “Price” field will be filled with the recent rate Monero (XMR) was sold for. This can be changed to your favoured rate. The “Amount” field is the quantity of XMR you like to purchase. The “Total” field is the aggregated price in Bitcoin that you will settle for the whole quantity of XMR.

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

Step 5 – Withdraw (XMR) Monero

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

Find (XMR) Monero by using the provided drop-down box. Put into the amount of Monero (XMR) you'd like to take off. Take into account the shown fees/minimums. Also make sure you have entered your correct withdraw address.

If you're glad, make a mouse click on “Submit”. You may be requested for verfication via email/phone ahead of a withdrawal.

Congrats! You've successfully purchased and stored Monero (XMR) in Iraq.

That's it!

Take offs from Cryptocurrency Exchange can durate between 1 – 30 minutes (rely on usage of the network). As soon as you've confirmed your withdrawal with Ethplorer.io or Etherscan.io and the Monero (XMR) is stored inside your wallet, you're all done.