How to buy and sell Monero? Picture and text tutorial on Monero trading

To trade Monero on an exchange, select a reputable platform that supports XMR trading, create an account, fund it, search for XMR, place a buy or sell order, execute it, and withdraw the Monero for secure storage.

Oct 09, 2024 at 02:42 am

How to Buy and Sell Monero: A Pictorial Guide

Step 1: Choose a Reputable Exchange

Select an exchange that supports Monero (XMR) trading, such as:

• Kraken
• Binance
• Coinbase Pro

Step 2: Create an Account

Sign up for an account on the chosen exchange and complete the KYC (Know Your Customer) process to verify your identity.

Step 3: Fund Your Account

Deposit funds into your exchange account using a bank transfer, credit card, or cryptocurrency transfer.

Step 4: Search for Monero

In the exchange's trading interface, search for the XMR/USD or XMR/BTC trading pair.

Step 5: Place a Buy or Sell Order

• To buy Monero: Specify the amount of Monero you want to buy, the price you are willing to pay, and the order type (market or limit).
• To sell Monero: Specify the amount of Monero you want to sell, the price you want to receive, and the order type.

Step 6: Execution

Your order will be executed once it matches with another user's order on the exchange.

Step 7: Withdrawal

Once your order is executed, you can withdraw your Monero to a private wallet for safe storage.

Step 8: Concluding the Transaction

• Successful purchase: You now own the purchased amount of Monero.
• Successful sale: You have received the agreed-upon amount of funds in exchange for your Monero.