A Step-by-Step-Guide on how to buy Stellar (XLM) in Cyprus
Step 1 – Signup to Kraken You will first need to purchase one of the top-tier coins. Exchanges commonly accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Follow the Link below to register and getting your welcome BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Exchange now. Every exchange has a deposit form that is alike. Stellar (XLM) is available on Binance, so we're going to use that as an sample. Not sure on how to send Coinbase funds to an Crypto Trader? (Follow this manual) Make sure you have selected the correct coin you want to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. If you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our manual).
Step 3 – Locate (XLM) Stellar As soon as your deposit has been confirmed, you will instantly have access to your assets and you can start purchasing and trading. To buy (XLM) Stellar on Binance, you'll want to go to the tab which is called “Exchange” and mouse click on “Basic”. To find (XLM) Stellar, you will need to insert the cointype (XLM) into the search-box, which is highlighted in the graphic. Be certain of having selected the proper pairing, we have marked this also. Click on “XLM/BTC” to advance.
Step 4 – Purchasing Stellar (XLM) As soon as you've discovered (XLM) Stellar, you'll be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). For now we're making our own Limit Order. The field with the “Price” tag will be filled with the latest valuation (XLM) Stellar was sold for. You can change this to your desired price. The “Amount” field is the amount of XLM you want to buy. The “Total” field is the whole price in Bitcoin that you will pay for the complete amount of XLM. If you are satisfied, click on “Buy XLM”. Your plan will be filled as soon as a Seller trades their XLM for the price you introduced.
Step 5 – Withdraw Stellar (XLM) Unless you are frequently trading, best advise is not to keep your crypto on an Exchange for an extensive period of time. In order to take off your (XLM) Stellar, hover over the tab called “Funds” and click on “Withdraw”. (XLM) Stellar can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find (XLM) Stellar by using the provided drop-down box. Enter the amount of (XLM) Stellar you'd like to withdraw. Take into account the presented minimus/fees. Also make sure you have filled your correct withdraw address. If you're satisfied, make a mouse click on “Submit”. You may be asked for verfication via email/phone before a withdrawal.