How to Buy Monero (XMR) in Mongolia

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase units of the bigger currencies. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click below for registration and to get your welcome Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. Monero (XMR) is available on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this guide)

Make sure you've chosen the right coin you want to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so forth. If you're using a decentralized exchange, such as Airswap or DDEX could be different (Just follow our guide).

Step 3 – Find (XMR) Monero

Once your deposit has been affirmed, you will immediately have access to your funds and you can launch invest and trading. To buy Monero (XMR) on Binance, you'll want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

To discover Monero (XMR), you will need to put the short name of the asset (XMR) into the search box, which is marked in the image. Make sure you have choosen the proper grouping, we have marked this also. Click on “XMR/BTC” to advance.

Step 4 – Acquisition of Monero (XMR)

As soon as you have found (XMR) Monero, you will be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the picture). And now we are going to make our Limit Order.

The “Price” field will be automatically filled with the most latest valuation (XMR) Monero was sold for. You can change this to your preferred price. The “Amount” field is the volumen of XMR you wish to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you'll pay for the complete amount of XMR.

If you're glad, click on “Buy XMR”. Your plan will be filled when a Seller trades their XMR for the price you gave.

Step 5 – Withdraw (XMR) Monero

Unless you're frequently trading, never keep your crypto on an Exchange for an extended time period. To take off your (XMR) Monero, go to the “Funds” tab and click on “Withdraw”. (XMR) Monero can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Monero (XMR) by using the provided drop-down box. Enter the quantity of (XMR) Monero you would like to withdraw. Take into account the presented minimus/fees. Also make sure you have filled your correct withdraw address.

When you're glad, make a mouse click on “Submit”. You could be requested for email/phone verification ahead of a take off.

Congratulations! You have successfully bought and stored Monero (XMR) in Mongolia.

That's it!

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