A Step-by-Step-Guide on how to buy Monero (XMR) in Timor-Leste
Step 1 – Signup to Kraken In the beginning you'll need to buy one of the bigger coins. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below to register and getting your welcome Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transmit Your BTC (Bitcoin) or ETH (Ethereum) to an Crypto Exchange Your Ethereum or Bitcoin will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. Monero (XMR) is accessible on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this how-to) Make sure you have selected the exact coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etcetera. In the case you're using a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our guide).
Step 3 – Locate (XMR) Monero As soon as your deposit has been verified, you will instantly have access to your finances and you can commence purchasing and trading. To buy (XMR) Monero on Binance, you'll want to hover over the “Exchange” tab and after that click on “Basic”. To find Monero (XMR), you'll need to insert the shortname of the coin (XMR) into the search-box, which is marked in the image. Make sure you have selected the right grouping, we have marked this also. Click on “XMR/BTC” to proceed.
Step 4 – Purchasing (XMR) Monero Once you've spotted (XMR) Monero, you'll be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). Next we are going to create our Limit Order. The “Price” field will be filled automatically with the up-to-date tariff (XMR) Monero was traded for. You can change this to your desired price. The “Amount” field is the volumen of XMR you wish to purchase. The “Total” field is the total price in BTC that you'll settle for the complete quantity of XMR. If you are glad, click on “Buy XMR”. Your order will be filled when a Vendor trades their XMR for the price you introduced.
Step 5 – Withdraw Monero (XMR) Unless you're regularly trading, best advise is not to keep coins on an Exchange for an extended time frame. In order to withdraw your Monero (XMR), go to the “Funds” tab and click on “Withdraw”. Monero (XMR) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find (XMR) Monero by using the given drop-down box. Drop in the amount of Monero (XMR) you'd wish to take off. Don't forget the displayed fees/minimums. Also make sure you have entered your precise withdraw address. If you are glad, click on “Submit”. You could be requested for verfication via email/phone ahead of a withdrawal.