A Step-by-Step-Guide on how to buy Stellar (XLM) in Bermuda
Step 1 – Signup to Kraken You will first need to purchase units of the major currencies. Exchanges usually accept either Ethereum or Bitcoin in exchange for alternative Coins. Click below to register and to get your welcome Bitcoin or Ethereum.
Step 2 – Transmit Your Funds to an Crypto Trader Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Trader 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 funds from Coinbase to an Crypto Trader? (Follow this how-to) Make sure you've chosen the correct coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. If you're working with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our guide).
Step 3 – Find (XLM) Stellar As soon as your deposit has been approved, you'll instantly have access to your finances and you can launch invest and trading. To purchase Stellar (XLM) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”. In order to spot (XLM) Stellar, you'll need to put the short name of the asset (XLM) into the search-box, which is highlighted in the picture. Make sure you have choosen the correct grouping, we've marked this also. Click on “XLM/BTC” to continue.
Step 4 – Purchase Stellar (XLM) After you have located (XLM) Stellar, you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). Next we're going to create our Limit Order. The field with the “Price” tag will be automatically filled with the recent valuation Stellar (XLM) was traded for. This can be changed to your desired rate. The field with the “Amount” tag is the amount of XLM you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the whole amount of XLM. When you are satisfied, make a mouse click on “Buy XLM”. Your order will be filled when a Vender trades their XLM for the price you offered.
Step 5 – Withdraw Stellar (XLM) Unless you're frequently trading, you should never keepyour crypto on an Exchange for an extensive time frame. In order to withdraw your (XLM) Stellar, go to the “Funds” tab and click on “Withdraw”. Stellar (XLM) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find (XLM) Stellar by using the given drop-down box. Drop in the amount of (XLM) Stellar you would wish to withdraw. Don't forget the shown fees/minimums. Also make sure you have entered your right withdraw address. When you're happy, click on “Submit”. You may be asked for email/phone verification ahead of a take off.