How to Buy Stellar (XLM) in Mongolia

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

Step 1 – Join Kraken

You'll first need to purchase units of the bigger coins. Exchanges normally accept either Bitcoin or Ethereum in exchange for alternative Coins. Click below to register and getting your first Ethereum or Bitcoin.

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

Your Bitcoin or Ethereum will need to be sent over to an Exchange now. All exchanges have a deposit form that is alike. Stellar (XLM) is accessible on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow these easy steps)

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

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. In the case you are dealing with a decentralized exchange, like Airswap or DDEX could be different (Just follow these easy steps).

Step 3 – Locate Stellar (XLM)

As soon as your deposit has been affirmed, you will instantly have access to your finances and you can initiate buying and trading. To purchase (XLM) Stellar on Binance, you will want to go to the tab which is called “Exchange” and click on “Basic”.

To spot Stellar (XLM), you will need to insert the short name of the asset (XLM) into the search box, which is marked in the picture. Be certain of having selected the right grouping, we've marked this too. Click on “XLM/BTC” to continue.

Step 4 – Buying (XLM) Stellar

After you've located Stellar (XLM), you'll be presented with a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). And now we're creating our Limit Order.

The “Price” field will be filled with the latest price (XLM) Stellar was sold for. You can change this to your preferred rate. The “Amount” field is the quantity of XLM you like to purchase. The “Total” field is the total price in BTC that you'll settle 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 Seller trades their XLM for the price you introduced.

Step 5 – Withdraw Stellar (XLM)

Unless you're regularly trading, best advise is not to keep your crypto coins on an Crypto Exchange for an longer period of time. To withdraw your Stellar (XLM), hover over the tab called “Funds” 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 given drop-down box. Drop in the quantity of Stellar (XLM) you would like to withdraw. Take into account the shown minimus/fees. Also make sure you have filled your precise withdraw address.

When you are glad, make a mouse click on “Submit”. You may be asked for verfication via email/phone ahead of a withdrawal.

Congrats! You have successfully bought and stored Stellar (XLM) in Mongolia.

That's it!

Take offs from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on usage of the network). Once you have confirmed your withdrawal using Ethplorer.io or Etherscan.io and the (XLM) Stellar is stored in your wallet, you are finished.