A Step-by-Step-Guide on how to buy Monero (XMR) in Latvia
Step 1 – Signup to Kraken In the beginning you'll need to purchase units of the bigger coins. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click below to register and to get your welcome Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Monero (XMR) is available on Binance, so we're going to use that as an sample. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this guide) Make sure you've chosen the precise coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etc. If you're using a decentralized exchange, like Airswap or DDEX could be different (Follow our how-to).
Step 3 – Locate (XMR) Monero Once your deposit has been confirmed, you'll directly have access to your assets and you can start purchasing and trading. To buy Monero (XMR) on Binance, you'll want to hover over the “Exchange” tab and after that mouse click on “Basic”. To find (XMR) Monero, you'll need to put the short name of the asset (XMR) into the search box, which is highlighted in the image. Be certain of having selected the right pairing, we have marked this also. Click on “XMR/BTC” to advance.
Step 4 – Purchase (XMR) Monero Once you have located (XMR) Monero, you will be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we are going to make our Limit Order. The “Price” field will be automatically filled with the latest price Monero (XMR) was sold for. You can change this to your favoured price. The field with the “Amount” tag is the amount of XMR you like to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you'll settle for the whole quantity of XMR. If you are happy, click on “Buy XMR”. Your order will be filled as soon as a Seller trades their XMR for the price you gave.
Step 5 – Withdraw Monero (XMR) Unless you are trading, best advise is not to keep your crypto on an Exchange for an extensive period of time. In order to withdraw your (XMR) Monero, hover over the tab called “Funds” and click on “Withdraw”. Monero (XMR) 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 would wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have filled your precise withdraw address. If you are satisfied, click “Submit”. You could be requested for phone/email verification ahead of a take off.