A Step-by-Step-Guide on how to buy Monero (XMR) in Montserrat
Step 1 – Signup to Kraken In the beginning you'll need to buy one of the bigger currencies. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click below to register and receive your welcome BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an 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 Coinbase funds to an Crypto Exchange? (Follow these easy steps) Make sure you have selected the exact coin you want to deposit. BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, et cetera. If you are working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).
Step 3 – Locate Monero (XMR) As soon as your deposit has been approved, you will now have access to your finances and you can initiate purchasing and trading. To invest in (XMR) Monero on Binance, you will want to go to the tab which is called “Exchange” and click on “Basic”. To locate (XMR) Monero, you will need to insert the cointype (XMR) into the search-box, which is marked in the image. Make sure you have choosen the right pairing, we've marked this too. Click on “XMR/BTC” to continue.
Step 4 – Buy (XMR) Monero Once you've found Monero (XMR), you'll be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). And now we are making our own Limit Order. The “Price” field will be filled with the most recent valuation (XMR) Monero was sold for. You can change this to your favoured rate. The “Amount” field is the amount of XMR you wish to purchase. The “Total” field is the total price in BTC that you will pay for the complete quantity of XMR. If you're glad, click on “Buy XMR”. Your plan will be filled when a Seller sells their XMR for the price you gave.
Step 5 – Withdraw Monero (XMR) Unless you are frequently trading, you should never keepyour crypto coins on an Crypto Trader for an extended period of time. To withdraw your Monero (XMR), hover over the “Funds” tab and mouse click on “Withdraw”. (XMR) Monero can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Monero (XMR) by using the given drop-down box. Enter the quantity of (XMR) Monero you would wish to take off. Don't forget the presented fees/minimums. Also make sure you have entered your right withdraw address. If you're glad, click on “Submit”. You may be requested for email/phone verification before a take off.