A Step-by-Step-Guide on how to buy Monero (XMR) in Papua New Guinea
Step 1 – Signup to Kraken In the beginning you'll need to purchase one of the major coins. Exchanges normally accept either Bitcoin or Ethereum in exchange for Altcoins. Click below for registration and to get your welcome Bitcoin or Ethereum.
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency 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 example. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this guide) Make sure you've chosen the exact coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be different (Just follow these easy steps).
Step 3 – Locate Monero (XMR) As soon as your deposit has been verified, you'll instantly have access to your funds and you can begin invest and trading. To buy (XMR) Monero on Binance, you'll want to hover over the “Exchange” tab and then mouse click on “Basic”. In order to discover Monero (XMR), you'll need to put the shortname of the coin (XMR) into the search box, which is marked in the graphic. Make sure you have selected the correct grouping, we have marked this too. Click on “XMR/BTC” to advance.
Step 4 – Buying Monero (XMR) After you've spotted Monero (XMR), you will be given a Price Chart (in the Center of the image) and a few Order Books (on the Left of the picture). Next we are going to create our Limit Order. The field with the “Price” tag will be filled with the recent valuation (XMR) Monero was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the volumen of XMR you want to purchase. The “Total” field is the whole price in BTC that you will pay for the complete volumen of XMR. If you are glad, make a mouse click on “Buy XMR”. Your plan will be filled when a Vendor trades their XMR for the price you gave.
Step 5 – Withdraw (XMR) Monero Unless you are frequently trading, best advise is not to keep your crypto on an Exchange for an longer time period. In order to take off your Monero (XMR), hover over the tab called “Funds” and mouse click on “Withdraw”. (XMR) Monero can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Monero (XMR) by using the given drop-down box. Enter the amount of (XMR) Monero you'd wish to withdraw. Don't forget the demonstrated minimus/fees. Also make sure you have entered your correct withdraw address. If you're happy, click “Submit”. You could be asked for phone/email verification before a withdrawal.