A Step-by-Step-Guide on how to buy Monero (XMR) in Virgin Islands
Step 1 – Signup to Kraken You will first need to buy one of the major currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below for registration and receive your welcome Bitcoin or Ethereum.
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange Your Ethereum or Bitcoin will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. Monero (XMR) is available on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Crypto Exchange? (Follow these easy steps) Make sure you have chosen the right coin you would like 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 different (Follow our how-to).
Step 3 – Find (XMR) Monero As soon as your deposit has been approved, you will directly have access to your funds and you can launch purchasing and trading. To invest in Monero (XMR) on Binance, you will want to go to the “Exchange” tab and after that mouse click on “Basic”. In order to locate (XMR) Monero, you'll need to insert the cointype (XMR) into the search box, which is marked in the image. Make sure you have selected the right grouping, we've marked this also. Click on “XMR/BTC” to proceed.
Step 4 – Acquisition of (XMR) Monero After you have spotted (XMR) Monero, you will be given a Price Chart (in the Center of the picture) and some Order Books (Leftside of the picture). For now we are creating our Limit Order. The “Price” field will be automatically filled with the most recent rate Monero (XMR) was traded for. You can change this to your desired price. The “Amount” field is the quantity of XMR you want to purchase. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the whole quantity of XMR. If you are satisfied, make a mouse click on “Buy XMR”. Your plan will be filled when a Vender sells their XMR for the price you gave.
Step 5 – Withdraw Monero (XMR) Unless you're regularly trading, best advise is not to keep your crypto coins on an Crypto Trader for an extended time period. To take off your Monero (XMR), hover over the tab called “Funds” and click on “Withdraw”. (XMR) Monero can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Monero (XMR) by using the given drop-down box. Drop in the volumen of (XMR) Monero you would like to take off. Don't forget the presented fees/minimums. Also make sure you have filled your right withdraw address. When you are happy, click on “Submit”. You could be requested for verfication via phone/email before a take off.