How to Buy Monero (XMR) in Panama

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

Step 1 – Join Kraken

You will first need to buy units of the major coins. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click the button below for registration and getting your first Ethereum or Bitcoin.

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

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Monero (XMR) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Exchange? (Just follow this manual)

Make sure you have selected the precise coin you would like to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so on. If you are using a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow these easy steps).

Step 3 – Locate Monero (XMR)

Once your deposit has been approved, you'll immediately have access to your assets and you can commence invest and trading. To purchase Monero (XMR) on Binance, you'll want to hover over the “Exchange” tab and then mouse click on “Basic”.

To find Monero (XMR), you'll need to put the cointype (XMR) into the search-box, which is marked in the picture. Be certain of having choosen the correct pairing, we have marked this too. Click on “XMR/BTC” to go on.

Step 4 – Acquisition of (XMR) Monero

As soon as you have spotted Monero (XMR), you will be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). Next we're going to make our own Limit Order.

The field with the “Price” tag will be filled with the most up-to-date tariff Monero (XMR) was traded for. This can be changed to your desired rate. The field with the “Amount” tag is the volumen of XMR you want to purchase. The field with the “Total” tag is the whole price in BTC that you'll settle for the whole quantity of XMR.

If you are satisfied, make a mouse click on “Buy XMR”. Your plan will be filled when a Vender trades their XMR for the price you gave.

Step 5 – Withdraw Monero (XMR)

Unless you're trading, never keep your coins on an Crypto Trader for an longer time period. To withdraw your Monero (XMR), go to the “Funds” tab and mouse click on “Withdraw”. Monero (XMR) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Monero (XMR) by using the given drop-down box. Enter the quantity of (XMR) Monero you'd wish to withdraw. Don't forget the demonstrated minimus/fees. Also make sure you have entered your precise withdraw address.

When you are happy, click “Submit”. You may be requested for verfication via email/phone ahead of a take off.

Kudos! You've successfully bought and stored Monero (XMR) in Panama.

That's it!

Take offs from Cryptocurrency Exchange can take between 1 – 30 minutes (depending on usage of the network). Once you have proved your withdrawal using Ethplorer.io or Etherscan.io and the Monero (XMR) is safe within your wallet, you are done.