A Step-by-Step-Guide on how to buy Monero (XMR) in Philippines
Step 1 – Join Kraken You'll first need to buy units of the major currencies. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Follow the Link below for registration and getting your first ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your Ethereum or 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 funds from Coinbase to an Exchange? (Just follow this guide) Make sure you've chosen the right coin you wish to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow these easy steps).
Step 3 – Find Monero (XMR) As soon as your deposit has been confirmed, you'll now have access to your funds and you can initiate purchasing and trading. To buy (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'll need to put the shortname of the coin (XMR) into the search-box, which is marked in the image. Be certain of having choosen the correct grouping, we've marked this too. Click on “XMR/BTC” to advance.
Step 4 – Buying (XMR) Monero As soon as you've found (XMR) Monero, you will be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). And now we're creating our Limit Order. The field with the “Price” tag will be automatically filled with the most latest price (XMR) Monero was traded for. You can change this to your preferred price. The “Amount” field is the amount of XMR you like to purchase. The field with the “Total” tag is the total price in Bitcoin that you'll settle for the whole amount of XMR. When you are satisfied, click on “Buy XMR”. Your order will be filled as soon as a Seller sells their XMR for the price you submitted.
Step 5 – Withdraw Monero (XMR) Unless you are trading, best advise is not to keep crypto coins on an Crypto Exchange for an longer time frame. To withdraw your Monero (XMR), hover over the tab called “Funds” and click on “Withdraw”. Monero (XMR) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find (XMR) Monero by using the given drop-down box. Drop in the volumen of Monero (XMR) you would like to withdraw. Don't forget the demonstrated minimus/fees. Also make sure you have filled your right withdraw address. When you're satisfied, click “Submit”. You could be asked for verfication via email/phone before a withdrawal.