A Step-by-Step-Guide on how to buy Monero (XMR) in Tanzania
Step 1 – Signup to Kraken You'll first need to buy one of the bigger coins. Exchanges normally accept either Bitcoin or Ethereum in exchange for alternative Coins. Click below for registration and getting your first Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. Monero (XMR) is obtainable on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow these easy steps) Make sure you have selected the correct coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. If you are using a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow these easy steps).
Step 3 – Locate Monero (XMR) Once your deposit has been approved, you will instantly have access to your finances and you can initiate buying and trading. To invest in (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 will need to insert the short name of the asset (XMR) into the search box, which is marked in the picture. Be certain of having choosen the right pairing, we have highlighted this too. Click on “XMR/BTC” to proceed.
Step 4 – Purchasing (XMR) Monero As soon as you've found Monero (XMR), you'll be presented with a Price Chart (in the Center of the picture) and some Order Books (Leftside of the image). And now we are going to create our Limit Order. The field with the “Price” tag will be filled automatically with the up-to-date rate (XMR) Monero was sold for. This can be changed to your desired price. The field with the “Amount” tag is the quantity of XMR you like to purchase. The “Total” field is the total price in BTC that you'll pay for the complete volumen of XMR. If you're glad, click on “Buy XMR”. Your order will be filled when a Seller trades their XMR for the price you introduced.
Step 5 – Withdraw Monero (XMR) Unless you are frequently trading, best advise is not to keep your coins on an Cryptocurrency Exchange for an longer period of time. To take off your (XMR) Monero, go to the tab called “Funds” and click on “Withdraw”. (XMR) Monero can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Monero (XMR) by using the provided drop-down box. Enter the volumen of (XMR) Monero you'd wish to withdraw. Don't forget the displayed minimus/fees. Also make sure you have filled your precise withdraw address. If you are satisfied, click “Submit”. You may be requested for phone/email verification before a withdrawal.