A Step-by-Step-Guide on how to buy Monero (XMR) in United Arab Emirates
Step 1 – Join Kraken In the beginning you'll need to purchase units of the bigger currencies. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below to register and getting your welcome Bitcoin or Ethereum.
Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Monero (XMR) is available on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this how-to) Make sure you have chosen the right coin you want to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Follow these easy steps).
Step 3 – Locate (XMR) Monero As soon as your deposit has been verified, you'll directly have access to your funds and you can commence invest and trading. To buy Monero (XMR) on Binance, you will want to go to the tab which is called “Exchange” and after that click on “Basic”. In order to spot Monero (XMR), you will need to put the short name of the asset (XMR) into the search-box, which is highlighted in the picture. Make sure you have selected the proper grouping, we have highlighted this too. Click on “XMR/BTC” to continue.
Step 4 – Buying Monero (XMR) After you have found Monero (XMR), you will be given a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). Next we're making our own Limit Order. The “Price” field will be automatically filled with the recent valuation (XMR) Monero was traded for. This can be changed to your preferred rate. The “Amount” field is the amount of XMR you want to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the whole volumen of XMR. When you are happy, click on “Buy XMR”. Your order will be filled as soon as a Vendor sells their XMR for the price you offered.
Step 5 – Withdraw Monero (XMR) Unless you are regularly trading, never keep your coins on an Exchange for an longer time frame. In order to take off your Monero (XMR), hover over the “Funds” tab and mouse click on “Withdraw”. Monero (XMR) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Monero (XMR) by using the given drop-down box. Put into the amount of Monero (XMR) you would wish to take off. Take into account the displayed 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 phone/email verification ahead of a withdrawal.