How to Buy Monero (XMR) in Venezuela

A Step-by-Step-Guide on how to buy Monero (XMR) in Venezuela

Step 1 – Signup to Kraken

In the beginning you'll need to purchase one of the major coins. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Click the button below to register and receive your welcome ETH (Ethereum) or BTC (Bitcoin).

Step 2 – Transfer Your Funds to an Cryptocurrency Exchange

Your Bitcoin or Ethereum has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Monero (XMR) is accessible on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this guide)

Make sure you've chosen the correct coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Follow these easy steps).

Step 3 – Find Monero (XMR)

As soon as your deposit has been confirmed, you will immediately have access to your funds and you can begin buying and trading. To buy (XMR) Monero on Binance, you will want to hover over the tab which is called “Exchange” and click on “Basic”.

In order to spot (XMR) Monero, you'll need to insert the shortname of the coin (XMR) into the search box, which is highlighted in the graphic. Make sure you have choosen the correct pairing, we've marked this too. Click on “XMR/BTC” to continue.

Step 4 – Purchasing Monero (XMR)

After you've discovered (XMR) Monero, you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the image). And now we are creating our own Limit Order.

The “Price” field will be filled with the recent price (XMR) Monero was traded for. You can change this to your preferred rate. The “Amount” field is the amount of XMR you like to buy. The “Total” field is the aggregated price in Bitcoin that you'll pay for the whole amount of XMR.

When you're happy, click on “Buy XMR”. Your order will be filled as soon as a Vendor sells their XMR for the price you gave.

Step 5 – Withdraw (XMR) Monero

Unless you're regularly trading, you should never keepyour coins on an Crypto Trader for an extended period of time. In order to withdraw your (XMR) Monero, hover over the tab called “Funds” and click on “Withdraw”. Monero (XMR) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Monero (XMR) by using the given drop-down box. Enter the volumen of (XMR) Monero you would wish to withdraw. Don't forget the shown minimus/fees. Also make sure you have entered your correct withdraw address.

When you're happy, click on “Submit”. You could be asked for phone/email verification before a take off.

Congrats! You have successfully bought and safed Monero (XMR) in Venezuela.

That's it!

Take offs from Crypto Trader can take anywhere from 1 – 30 minutes (rely on network usage). As soon as you've proved your withdrawal using Ethplorer.io or Etherscan.io and the (XMR) Monero is safe in your wallet, you are finished.