How to buy monero (XMR) on BitBay ?

How to buy monero (XMR) on BitBay ?

You want to buy Monero, and you have chosen to use BitBay to do so. However, you don’t really know how to work this platform. In order to help you, we offer you a step by step guide to achieve this.

Your registration on BitBay

Before you buy Monero on BitBay, it is necessary that you first register on the platform. However, you should not encounter any problems, it is really very simple. For a start, you need to click on “Register” in order to save you. You will need to provide your email address and create your password, a pin code and a user name. However, we can only advise you to choose a complex password, which you will ensure a good protection against hacking attempts. Once this is done, you will receive an e-mail to the address you have indicated. This e-mail contains a link which you must click to validate your registration. In addition, you can enjoy a second level of protection using Google Authenticator. Even though this is not mandatory, we recommend that you still use. Your crypto-currency will never be too protected.


The verification of your identity

However, you can’t even deposit money on your account BitBay. In fact, before that, your identity needs to be verified. However, do not worry, it is really very simple. To start with, you will need to fill in a form in which to fill in several personal information, including your first name, last name, mailing address and date of birth. Once this is done, you must send in a copy of an identity document in course of validity. This can be an identity card, a passport or a driving licence. You will also need to provide proof of address dated within the last 6 months.


Make a deposit on BitBay

You can now make a deposit on BitBay. For this, you need to click on “Funding” and choose the payment method that you want to use as well as the amount of your deposit. However, we recommend that you make your deposit by bank transfer. Indeed, it is the easiest method. Suffice it for you to actually provide details of your bank account and you will receive the money on your account BitBay within 48 hours. However, the transfer will only be accepted if your account BitBay and your bank account are the same name.

Buy Monero on BitBay

Once your deposit has arrived on your account, you can use this money to buy Monero. For this, you just have to click on the tab “Scales” and select the Monero, the crypto-currency that you want to buy. Then, you must click on ” Trade “, then on ” New order “. You will then need to choose your offer and then accept it.

What you must remember

  • Before you can buy Monero, you must create an account on BitBay
  • You will then need to make a number of checks to be able to make a deposit.
  • You can finally make a deposit into your account BitBay and buy Monero.