A Step-by-Step-Guide on how to buy Monero (XMR) in New Zealand
Step 1 – Signup to Kraken You'll first need to buy units of the bigger currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for Altcoins. Follow the Link below to register and receive your welcome Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Monero (XMR) is accessible on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an Exchange? (Follow this manual) Make sure you've chosen the correct coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etc. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow our guide).
Step 3 – Locate Monero (XMR) Once your deposit has been verified, you'll immediately have access to your funds and you can launch buying and trading. To buy Monero (XMR) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”. To discover (XMR) Monero, you'll need to insert the short name of the asset (XMR) into the search box, which is highlighted in the image. Make sure you have selected the proper pairing, we have highlighted this too. Click on “XMR/BTC” to continue.
Step 4 – Purchasing (XMR) Monero After you have discovered (XMR) Monero, you will be presented with a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we are creating our Limit Order. The field with the “Price” tag will be filled automatically with the latest tariff (XMR) Monero was sold for. You can change this to your favoured price. The field with the “Amount” tag is the quantity of XMR you want to buy. The “Total” field is the whole price in BTC that you'll pay for the complete quantity of XMR. If you are satisfied, make a mouse 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're trading, best advise is not to keep your crypto coins on an Exchange for an extensive time period. To withdraw your (XMR) Monero, go to the “Funds” tab 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. Enter the amount of Monero (XMR) you would like to withdraw. Take into account the displayed fees/minimums. Also make sure you have entered your right withdraw address. When you are glad, click “Submit”. You could be requested for verfication via phone/email before a take off.