How to Buy Stellar (XLM) in Iceland

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

Step 1 – Signup to CEX.io

You'll first need to buy one of the top-tier coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below for registration and receive your welcome Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Send Your Bitcoin or Ethereum to an Crypto Trader

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Stellar (XLM) is available on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Crypto Trader? (Follow this manual)

Make sure you've selected the correct coin you want to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our how-to).

Step 3 – Locate Stellar (XLM)

As soon as your deposit has been approved, you'll now have access to your finances and you can start purchasing and trading. To purchase Stellar (XLM) on Binance, you'll want to go to the “Exchange” tab and then mouse click on “Basic”.

To spot (XLM) Stellar, you will need to put the short name of the asset (XLM) into the search box, which is marked in the graphic. Make sure you have choosen the right grouping, we have highlighted this also. Click on “XLM/BTC” to go ahead.

Step 4 – Buy (XLM) Stellar

Once you've located Stellar (XLM), you will be given a Price Chart (in the Center of the image) and a few Order Books (on the Left of the picture). Next we're going to create our Limit Order.

The field with the “Price” tag will be filled with the most recent rate Stellar (XLM) was traded for. You can change this to your preferred price. The “Amount” field is the amount of XLM you wish to buy. The “Total” field is the aggregated price in BTC that you will pay for the complete amount of XLM.

When you are glad, make a mouse click on “Buy XLM”. Your order will be filled when a Seller sells their XLM for the price you introduced.

Step 5 – Withdraw (XLM) Stellar

Unless you're regularly trading, best advise is not to keep your coins on an Cryptocurrency Exchange for an extensive period of time. In order to take off your Stellar (XLM), go to the tab called “Funds” and mouse click on “Withdraw”. Stellar (XLM) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Stellar (XLM) by using the provided drop-down box. Put into the volumen of Stellar (XLM) you would wish to withdraw. Don't forget the displayed fees/minimums. Also make sure you have entered your correct withdraw address.

If you are satisfied, make a mouse click on “Submit”. You could be requested for verfication via phone/email before a withdrawal.

Congrats! You've successfully purchased and stored Stellar (XLM) in Iceland.

That's it!

Withdrawals from Cryptocurrency Exchange can take between 1 – 30 minutes (depending on network usage). As soon as you've proved your take off with Ethplorer.io or Etherscan.io and the Stellar (XLM) is safe inside your wallet, you are all done.