A Step-by-Step-Guide on how to buy Monero (XMR)
Step 1 – Join Coinbase and get 10$ for free You will first need to purchase one of the major currencies. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Click the button below to register and receive your welcome $10.
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Monero (XMR) is available on Binance, so we're going to use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this how-to) Make sure you have chosen the precise coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. If you're working with 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 confirmed, you will now have access to your funds and you can begin purchasing and trading. To buy Monero (XMR) on Binance, you will want to go to the tab which is called “Exchange” and click on “Basic”. To discover Monero (XMR), you will need to insert the cointype (XMR) into the search box, which is highlighted in the image. Make sure you have selected the proper grouping, we've highlighted this too. Click on “XMR/BTC” to continue.
Step 4 – Purchasing Monero (XMR) Once you've located Monero (XMR), you'll be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). Next we're making our Limit Order. The ”Price” field will be filled with the up-to-date price Monero (XMR) was traded for. You can change this to your preferred rate. The field with the “Amount” tag is the quantity of XMR you like to purchase. The ”Total” field is the whole price in Bitcoin that you will settle for the whole quantity of XMR. When you're satisfied, make a mouse click on “Buy XMR”. Your order will be filled as soon as a Vender sells their XMR for the price you introduced.
Step 5 – Withdraw (XMR) Monero Unless you're regularly trading, best advise is not to keep crypto coins on an Crypto Exchange for an extended time period. To withdraw your (XMR) Monero, go to the ”Funds” tab and click on “Withdraw”. (XMR) Monero can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate (XMR) Monero by using the provided drop-down box. Enter the volumen of (XMR) Monero you would like to withdraw. Don't forget the shown minimus/fees. Also make sure you have filled your precise withdraw address. When you're glad, click “Submit”. You could be requested for verfication via phone/email before a take off.