How to Buy Stellar (XLM) in Faroe Islands

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

Step 1 – Signup to Kraken

You will first need to purchase units of the top-tier coins. Exchanges normally accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Follow the Link below to register and to get your welcome Bitcoin (BTC) or Ethereum (ETH).

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

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is similar. Stellar (XLM) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this guide)

Make sure you have selected the correct coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. If you are working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).

Step 3 – Find (XLM) Stellar

Once your deposit has been affirmed, you'll immediately have access to your assets and you can launch buying and trading. To purchase (XLM) Stellar on Binance, you will want to hover over the tab which is called “Exchange” and then click on “Basic”.

To locate Stellar (XLM), you will need to put the short name of the asset (XLM) into the search box, which is highlighted in the picture. Make sure you have selected the proper pairing, we have marked this too. Click on “XLM/BTC” to continue.

Step 4 – Buying Stellar (XLM)

As soon as you've found (XLM) Stellar, you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). And now we are going to create our own Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date tariff Stellar (XLM) was sold for. You can change this to your favoured rate. The field with the “Amount” tag is the quantity of XLM you wish to buy. The field with the “Total” tag is the total price in BTC that you'll settle for the complete amount of XLM.

When you're satisfied, make a mouse click on “Buy XLM”. Your plan will be filled as soon as a Seller sells their XLM for the price you gave.

Step 5 – Withdraw (XLM) Stellar

Unless you are frequently trading, you should never keepyour crypto on an Crypto Trader for an extensive time period. To withdraw your (XLM) Stellar, hover over the “Funds” tab and mouse click on “Withdraw”. Stellar (XLM) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find (XLM) Stellar by using the given drop-down box. Enter the amount of Stellar (XLM) you would like to withdraw. Take into account the displayed fees/minimums. Also make sure you have filled your right withdraw address.

When you are glad, click “Submit”. You could be requested for email/phone verification before a withdrawal.

Kudos! You've successfully purchased and safed (XLM) Stellar in Faroe Islands.

That's it!

Withdrawals from Exchange can take between 1 – 30 minutes (depending on network usage). Once you've confirmed your withdrawal with Etherscan.io or Ethplorer.io and the (XLM) Stellar is safe in your wallet, you're done.