How to Buy Stellar (XLM) in Dominica

A Step-by-Step-Guide on how to buy Stellar (XLM) in Dominica

Step 1 – Join Kraken

You will first need to buy units of the major currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click the button below for registration and receive your first Bitcoin or Ethereum.

Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has 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're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this guide)

Make sure you've chosen the right coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Just follow our manual).

Step 3 – Locate Stellar (XLM)

Once your deposit has been confirmed, you'll now have access to your assets and you can start buying and trading. To invest in (XLM) Stellar on Binance, you will want to go to the tab which is called “Exchange” and then click on “Basic”.

To spot Stellar (XLM), you will need to put the shortname of the coin (XLM) into the search box, which is highlighted in the graphic. Make sure you have choosen the correct grouping, we've highlighted this also. Click on “XLM/BTC” to continue.

Step 4 – Purchasing (XLM) Stellar

After you have spotted (XLM) Stellar, you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). Next we are going to make our Limit Order.

The “Price” field will be filled with the most up-to-date price (XLM) Stellar was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the volumen of XLM you wish to purchase. The field with the “Total” tag is the total price in BTC that you will pay for the whole amount of XLM.

When you are satisfied, make a mouse click on “Buy XLM”. Your order will be filled as soon as a Seller trades their XLM for the price you gave.

Step 5 – Withdraw (XLM) Stellar

Unless you're regularly trading, never keep your crypto coins on an Exchange for an extensive period of time. In order to withdraw your Stellar (XLM), go to the “Funds” tab and click on “Withdraw”. Stellar (XLM) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Stellar (XLM) by using the provided drop-down box. Enter the amount of (XLM) Stellar you'd like to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your precise withdraw address.

If you're happy, click “Submit”. You may be requested for email/phone verification ahead of a take off.

Kudos! You have successfully bought and safed Stellar (XLM) in Dominica.

That's it!

Take offs from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on usage of the network). As soon as you have proved your take off with Etherscan.io or Ethplorer.io and the Stellar (XLM) is safe in your wallet, you are done.