A Step-by-Step-Guide on how to buy sXMR (SXMR)
Step 1 – Join Kraken You will first need to purchase one of the bigger coins. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Click below for registration and receive Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Send Your Bitcoin or Ethereum 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. sXMR (SXMR) is obtainable on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this guide) Make sure you have selected the correct coin you would like to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etc. If you are using a decentralized exchange, such as Airswap or DDEX could be different (Follow these easy steps).
Step 3 – Find sXMR (SXMR) Once your deposit has been confirmed, you will instantly have access to your assets and you can begin buying and trading. To invest in sXMR (SXMR) on Binance, you will want to go to the tab which is called “Exchange” and then mouse click on “Basic”. To spot sXMR (SXMR), you will need to put the short name of the asset (SXMR) into the search-box, which is highlighted in the picture. Make sure you have selected the correct pairing, we have highlighted this too. Click on “SXMR/BTC” to proceed.
Step 4 – Acquisition of sXMR (SXMR) As soon as you have found sXMR (SXMR), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the picture). Next we're going to make our Limit Order. The ”Price” field will be automatically filled with the most latest valuation sXMR (SXMR) was sold for. This can be changed to your preferred rate. The ”Amount” field is the amount of SXMR you like to purchase. The field with the “Total” tag is the whole price in Bitcoin that you will settle for the whole amount of SXMR. If you're satisfied, click on “Buy SXMR”. Your order will be filled when a Seller trades their SXMR for the price you offered.
Step 5 – Withdraw sXMR (SXMR) Unless you are trading, never keep your crypto coins on an Exchange for an extensive time period. In order to withdraw your sXMR (SXMR), go to the tab called “Funds” and click on “Withdraw”. sXMR (SXMR) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find sXMR (SXMR) by using the provided drop-down box. Drop in the volumen of sXMR (SXMR) you'd wish to withdraw. Take into account the presented fees/minimums. Also make sure you have filled your correct withdraw address. When you are happy, click on “Submit”. You may be requested for verfication via email/phone ahead of a withdrawal.