A Step-by-Step-Guide on how to buy Monero (XMR) in Saudi Arabia
Step 1 – Signup to Kraken In the beginning you'll need to purchase units of the major coins. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click the button below for registration and to get your welcome BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Transmit Your BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. Monero (XMR) is accessible on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this how-to) Make sure you've selected the exact coin you would like to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. If you're using a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our guide).
Step 3 – Find Monero (XMR) Once your deposit has been approved, you will directly have access to your funds and you can begin purchasing and trading. To purchase (XMR) Monero on Binance, you will want to hover over the “Exchange” tab and after that mouse click on “Basic”. In order to find (XMR) Monero, you'll need to insert the cointype (XMR) into the search box, which is highlighted in the picture. Make sure you have choosen the right pairing, we have highlighted this also. Click on “XMR/BTC” to continue.
Step 4 – Buy Monero (XMR) After you've found (XMR) Monero, you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). Next we are going to make our Limit Order. The field with the “Price” tag will be filled with the most recent valuation Monero (XMR) was traded for. You can change this to your favoured price. The field with the “Amount” tag is the amount of XMR you want to purchase. The field with the “Total” tag is the aggregated price in Bitcoin that you'll pay for the whole amount of XMR. If you're glad, make a mouse click on “Buy XMR”. Your plan will be filled when a Vender sells their XMR for the price you introduced.
Step 5 – Withdraw (XMR) Monero Unless you are regularly trading, best advise is not to keep your crypto on an Exchange for an longer period of time. To withdraw your (XMR) Monero, go to the “Funds” tab and mouse click on “Withdraw”. Monero (XMR) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate (XMR) Monero by using the given drop-down box. Put into the volumen of Monero (XMR) you'd wish to withdraw. Don't forget the presented fees/minimums. Also make sure you have filled your correct withdraw address. If you're glad, click on “Submit”. You may be requested for verfication via email/phone ahead of a take off.