A Step-by-Step-Guide on how to buy Stellar (XLM)
Step 1 – Signup to Kraken You will first need to buy one of the top-tier currencies. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Click below to register and getting Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. Every exchange has a deposit form that is alike. Stellar (XLM) is obtainable on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Exchange? (Follow this guide) Make sure you have selected the exact coin you wish to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our guide).
Step 3 – Locate Stellar (XLM) Once your deposit has been confirmed, you'll directly have access to your funds and you can start purchasing and trading. To invest in Stellar (XLM) on Binance, you will want to go to the tab which is called “Exchange” and then mouse click on “Basic”. In order to find Stellar (XLM), you'll need to put the cointype (XLM) into the search box, which is highlighted in the graphic. Be certain of having choosen the proper grouping, we've marked this also. Click on “XLM/BTC” to progress.
Step 4 – Purchasing Stellar (XLM) As soon as you have found Stellar (XLM), you'll be presented with a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're going to create our own Limit Order. The ”Price” field will be filled automatically with the most latest rate Stellar (XLM) was traded for. You can change this to your desired rate. The field with the “Amount” tag is the quantity of XLM you like to buy. The ”Total” field is the whole price in BTC that you'll pay for the whole quantity of XLM. If you're glad, click on “Buy XLM”. Your plan will be filled as soon as a Vender trades their XLM for the price you offered.
Step 5 – Withdraw Stellar (XLM) Unless you are regularly trading, you should never keepyour crypto coins on an Crypto Exchange for an longer time frame. To take off your Stellar (XLM), hover over the ”Funds” tab and mouse click on “Withdraw”. Stellar (XLM) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Stellar (XLM) by using the given drop-down box. Drop in the amount of Stellar (XLM) you'd wish to withdraw. Don't forget the shown minimus/fees. Also make sure you have filled your correct withdraw address. If you're glad, click “Submit”. You could be asked for verfication via phone/email before a take off.