How to Buy Monero (XMR) in Malawi

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

Step 1 – Join Kraken

You'll first need to buy units of the top-tier currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below for registration and receive your first Bitcoin or Ethereum.

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

Your Bitcoin or Ethereum has 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 will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow these easy steps)

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

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etc. If you're using a decentralized exchange, like Airswap or DDEX could be opposed (Follow our how-to).

Step 3 – Locate (XMR) Monero

Once your deposit has been verified, you will now have access to your finances and you can start purchasing and trading. To invest in Monero (XMR) on Binance, you'll want to hover over the “Exchange” tab and click on “Basic”.

In order to locate (XMR) Monero, you will need to put the shortname of the coin (XMR) into the search-box, which is highlighted in the picture. Be certain of having choosen the right pairing, we've highlighted this too. Click on “XMR/BTC” to proceed.

Step 4 – Buy (XMR) Monero

After you've spotted Monero (XMR), you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). For now we are making our Limit Order.

The field with the “Price” tag will be automatically filled with the most latest price Monero (XMR) was traded for. You can change this to your desired rate. The field with the “Amount” tag is the volumen of XMR you want to purchase. The “Total” field is the whole price in BTC that you will pay for the whole amount of XMR.

When you are satisfied, click on “Buy XMR”. Your plan will be filled when a Seller sells their XMR for the price you introduced.

Step 5 – Withdraw (XMR) Monero

Unless you are frequently trading, best advise is not to keep crypto on an Cryptocurrency Exchange for an extended time frame. To take off your (XMR) Monero, hover over the tab called “Funds” and mouse 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 volumen of (XMR) Monero you would wish to take off. Take into account the demonstrated fees/minimums. Also make sure you have filled your precise withdraw address.

If you're happy, click “Submit”. You could be asked for verfication via email/phone ahead of a withdrawal.

Congratulations! You've successfully purchased and safed Monero (XMR) in Malawi.

That's it!

Take offs from Crypto Trader can take between 1 – 30 minutes (rely on network usage). As soon as you have confirmed your withdrawal with Ethplorer.io or Etherscan.io and the Monero (XMR) is safe inside your wallet, you're finished.