A Step-by-Step-Guide on how to buy Stellar (XLM) in Jersey
Step 1 – Join Kraken In the beginning you'll need to purchase one of the top-tier currencies. Exchanges usually accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Follow the Link below for registration and getting your welcome Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Exchange Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Stellar (XLM) is accessible on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this how-to) Make sure you've selected the precise coin you want to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etcetera. In the case you are using a decentralized exchange, like Airswap or DDEX could be different (Follow our guide).
Step 3 – Locate Stellar (XLM) Once your deposit has been verified, you'll immediately have access to your funds and you can start purchasing and trading. To invest in Stellar (XLM) on Binance, you'll want to hover over the tab which is called “Exchange” and then click on “Basic”. In order to discover Stellar (XLM), you'll need to put the short name of the asset (XLM) into the search box, which is marked in the picture. Make sure you have selected the proper grouping, we've highlighted this also. Click on “XLM/BTC” to go on.
Step 4 – Buy (XLM) Stellar As soon as you have located Stellar (XLM), you will be presented with a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the image). For now we're creating our own Limit Order. The “Price” field will be filled with the up-to-date rate Stellar (XLM) was sold for. This can be changed to your preferred price. The “Amount” field is the volumen of XLM you like to purchase. The “Total” field is the total price in Bitcoin that you'll pay for the complete quantity of XLM. If you are glad, make a mouse click on “Buy XLM”. Your order will be filled as soon as a Vender sells their XLM for the price you gave.
Step 5 – Withdraw Stellar (XLM) Unless you are regularly trading, never keep your coins on an Exchange for an extensive period of time. To withdraw your (XLM) Stellar, go to the “Funds” tab and mouse click on “Withdraw”. Stellar (XLM) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Stellar (XLM) by using the provided drop-down box. Enter the quantity of Stellar (XLM) you'd wish to withdraw. Don't forget the displayed fees/minimums. Also make sure you have entered your right withdraw address. When you're happy, click on “Submit”. You may be requested for verfication via email/phone before a take off.