A Step-by-Step-Guide on how to buy Monero (XMR) in Lithuania
Step 1 – Signup to Kraken In the beginning you'll need to buy one of the bigger currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click below for registration and receive your welcome Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Send Your Funds to an Exchange Your Bitcoin or Ethereum will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is similar. Monero (XMR) is available on Binance, so we're going to 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 wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. If you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Follow our how-to).
Step 3 – Locate Monero (XMR) As soon as your deposit has been approved, you'll directly have access to your funds and you can start invest and trading. To purchase Monero (XMR) on Binance, you will want to go to the tab which is called “Exchange” and mouse click on “Basic”. To find (XMR) Monero, you'll need to put the shortname of the coin (XMR) into the search box, which is highlighted in the graphic. Make sure you have choosen the correct pairing, we have marked this too. Click on “XMR/BTC” to advance.
Step 4 – Purchase Monero (XMR) Once you have found Monero (XMR), you'll be presented with a Price Chart (in the Center of the image) and some Order Books (on the Left of the picture). Next we are going to create our own Limit Order. The field with the “Price” tag will be filled with the most latest tariff (XMR) Monero was traded for. This can be changed to your favoured price. The field with the “Amount” tag is the volumen of XMR you wish to purchase. The “Total” field is the total price in BTC that you'll settle for the complete volumen of XMR. If you're satisfied, make a mouse click on “Buy XMR”. Your plan will be filled when a Vender trades their XMR for the price you offered.
Step 5 – Withdraw Monero (XMR) Unless you are trading, never keep your crypto on an Cryptocurrency Exchange for an extended time period. In order to withdraw your (XMR) Monero, hover over the tab called “Funds” and click on “Withdraw”. Monero (XMR) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Monero (XMR) by using the provided drop-down box. Put into the quantity of (XMR) Monero you would like to take off. Don't forget the shown fees/minimums. Also make sure you have entered your correct withdraw address. When you are satisfied, click on “Submit”. You could be requested for email/phone verification before a withdrawal.