A Step-by-Step-Guide on how to buy Monero (XMR)
Step 1 – Join CEX.io In the beginning you'll need to buy units of the top-tier currencies. Exchanges normally accept either Bitcoin or Ethereum in exchange for alternative Coins. Click below for registration and getting your Bitcoin or Ethereum.
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Cryptocurrency Exchange now. All exchanges have 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 Coinbase funds to an Cryptocurrency Exchange? (Just follow this manual) Make sure you've selected the correct coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so forth. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our manual).
Step 3 – Find Monero (XMR) Once your deposit has been verified, you'll now have access to your funds and you can commence buying and trading. To invest in Monero (XMR) on Binance, you'll want to hover over the tab which is called “Exchange” and click on “Basic”. In order to find Monero (XMR), you'll need to put the shortname of the coin (XMR) into the search box, which is marked in the image. Be certain of having selected the proper grouping, we've marked this also. Click on “XMR/BTC” to advance.
Step 4 – Purchase (XMR) Monero Once you've found (XMR) Monero, you'll be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). And now we are creating our own Limit Order. The field with the “Price” tag will be filled automatically with the latest price (XMR) Monero was sold for. This can be changed to your preferred price. The field with the “Amount” tag is the quantity of XMR you wish to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll settle for the whole quantity of XMR. If you are satisfied, click on “Buy XMR”. Your order will be filled when a Vendor trades their XMR for the price you introduced.
Step 5 – Withdraw (XMR) Monero Unless you're frequently trading, best advise is not to keep crypto on an Exchange for an longer time period. In order to take off your (XMR) Monero, go to the tab called “Funds” and mouse click on “Withdraw”. (XMR) Monero can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find (XMR) Monero by using the given drop-down box. Drop in the quantity of (XMR) Monero you would wish to take off. Don't forget the demonstrated fees/minimums. Also make sure you have entered your correct withdraw address. If you're glad, click “Submit”. You may be requested for verfication via email/phone before a take off.