A Step-by-Step-Guide on how to buy Monero (XMR) in Netherlands
Step 1 – Join Kraken You will first need to purchase one of the major coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Follow the Link below for registration and receive your first BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Trader Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Monero (XMR) is available on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Exchange? (Follow this manual) Make sure you have selected the exact coin you want to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etc. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our guide).
Step 3 – Find (XMR) Monero As soon as your deposit has been affirmed, you'll now have access to your funds and you can commence invest and trading. To purchase (XMR) Monero on Binance, you will want to hover over the tab which is called “Exchange” and click on “Basic”. To locate (XMR) Monero, you'll need to put the cointype (XMR) into the search box, which is marked in the image. Make sure you have selected the right grouping, we've highlighted this too. Click on “XMR/BTC” to advance.
Step 4 – Buy (XMR) Monero After you've located Monero (XMR), you will be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we're going to create our Limit Order. The field with the “Price” tag will be automatically filled with the latest price Monero (XMR) was traded for. You can change this to your preferred rate. The field with the “Amount” tag is the amount of XMR you like to buy. The “Total” field is the total price in BTC that you will pay for the complete amount of XMR. If you're happy, make a mouse click on “Buy XMR”. Your order will be filled when a Seller trades their XMR for the price you submitted.
Step 5 – Withdraw Monero (XMR) Unless you're frequently trading, best advise is not to keep crypto coins on an Cryptocurrency Exchange for an extensive time frame. In order to take off your (XMR) Monero, go to the tab called “Funds” and click on “Withdraw”. (XMR) Monero can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Monero (XMR) by using the provided drop-down box. Put into the quantity of Monero (XMR) you'd wish to take off. Don't forget the demonstrated fees/minimums. Also make sure you have entered your precise withdraw address. If you're happy, click on “Submit”. You could be requested for email/phone verification before a withdrawal.