A Step-by-Step-Guide on how to buy Monero (XMR) in Saint Lucia
Step 1 – Signup to Kraken In the beginning you'll need to purchase units of the major currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for Altcoins. Click below to register and receive your first Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Monero (XMR) is available on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Follow this guide) Make sure you've selected the precise coin you want to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. If you're using a decentralized exchange, like Airswap or DDEX could be different (Just follow these easy steps).
Step 3 – Find Monero (XMR) Once your deposit has been verified, you will directly have access to your assets and you can initiate buying and trading. To invest in (XMR) Monero on Binance, you will want to go to the “Exchange” tab and click on “Basic”. To spot Monero (XMR), you will need to put the cointype (XMR) into the search box, which is highlighted in the image. Make sure you have selected the proper grouping, we've marked this also. Click on “XMR/BTC” to go ahead.
Step 4 – Buy Monero (XMR) As soon as you have located Monero (XMR), you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). And now we are going to make our own Limit Order. The “Price” field will be filled with the most recent price (XMR) Monero was sold for. You can change this to your favoured price. The “Amount” field is the quantity of XMR you want to buy. The “Total” field is the total price in BTC that you will settle for the complete amount of XMR. When you're happy, make a mouse click on “Buy XMR”. Your plan will be filled when a Seller sells their XMR for the price you gave.
Step 5 – Withdraw (XMR) Monero Unless you are frequently trading, best advise is not to keep your coins on an Crypto Exchange for an extended time frame. In order to withdraw your (XMR) Monero, go to the “Funds” tab and click on “Withdraw”. (XMR) Monero can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate (XMR) Monero by using the provided drop-down box. Enter the quantity of (XMR) Monero you'd wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your right withdraw address. When you're satisfied, make a mouse click on “Submit”. You may be asked for email/phone verification before a withdrawal.