A Step-by-Step-Guide on how to buy Monero (XMR) in Sierra Leone
Step 1 – Signup to Kraken You will first need to buy one of the bigger coins. Exchanges commonly accept either Ethereum or Bitcoin in exchange for alternative Coins. Click below to register and getting your first Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transmit Your Ethereum (ETH) or Bitcoin (BTC) to an Exchange Your Bitcoin or Ethereum has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is identical. Monero (XMR) is obtainable on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Exchange? (Follow this manual) Make sure you have selected the precise coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. If you are working with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).
Step 3 – Find (XMR) Monero As soon as your deposit has been affirmed, you'll immediately have access to your funds and you can begin invest and trading. To invest in (XMR) Monero on Binance, you will want to go to the tab which is called “Exchange” and mouse click on “Basic”. To find Monero (XMR), you'll need to insert the shortname of the coin (XMR) into the search-box, which is highlighted in the image. Make sure you have selected the correct grouping, we have highlighted this too. Click on “XMR/BTC” to go ahead.
Step 4 – Buy (XMR) Monero As soon as you have spotted Monero (XMR), you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). And now we are creating our Limit Order. The field with the “Price” tag will be automatically filled with the recent price (XMR) Monero was traded for. You can change this to your desired rate. The “Amount” field is the quantity of XMR you want to buy. The “Total” field is the whole price in BTC that you'll settle for the complete volumen of XMR. When you're glad, click on “Buy XMR”. Your order will be filled as soon as a Seller trades their XMR for the price you introduced.
Step 5 – Withdraw (XMR) Monero Unless you're regularly trading, you should never keepyour coins on an Crypto Trader for an extended time frame. In order to withdraw your Monero (XMR), hover over the tab called “Funds” and click on “Withdraw”. (XMR) Monero can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find (XMR) Monero by using the provided drop-down box. Put into the amount of (XMR) Monero you'd wish to take off. Don't forget the shown fees/minimums. Also make sure you have filled your precise withdraw address. If you are happy, click “Submit”. You could be asked for verfication via phone/email before a withdrawal.