A Step-by-Step-Guide on how to buy Monero (XMR)
Step 1 – Join Coinbase and receive 10$ in Bitcoin You'll first need to purchase units of the top-tier coins. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click below to register and to get Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transmit Your Funds to an Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is similar. Monero (XMR) is accessible on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Exchange? (Follow this manual) Make sure you've selected the correct coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. If you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow these easy steps).
Step 3 – Find (XMR) Monero As soon as your deposit has been verified, you'll directly have access to your assets and you can initiate invest and trading. To invest in (XMR) Monero on Binance, you will want to hover over the tab which is called “Exchange” and click on “Basic”. In order to discover (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 proper grouping, we have marked this also. Click on “XMR/BTC” to continue.
Step 4 – Acquisition of Monero (XMR) As soon as you have found Monero (XMR), you will be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). For now we're making our Limit Order. The field with the “Price” tag will be automatically filled with the up-to-date valuation (XMR) Monero was sold for. This can be changed to your preferred rate. The “Amount” field is the quantity of XMR you want to purchase. The “Total” field is the total price in Bitcoin that you'll pay for the whole amount of XMR. If you are satisfied, click on “Buy XMR”. Your order will be filled as soon as a Vender sells their XMR for the price you offered.
Step 5 – Withdraw (XMR) Monero Unless you're regularly trading, you should never keepyour coins on an Exchange for an extended time frame. To take off your Monero (XMR), go to the tab called “Funds” and mouse click on “Withdraw”. (XMR) Monero can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Monero (XMR) by using the provided drop-down box. Enter the quantity of (XMR) Monero you would wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have filled your precise withdraw address. If you are happy, click “Submit”. You may be asked for verfication via email/phone before a take off.