How to Buy Stellar (XLM) in Nigeria

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

Step 1 – Join Kraken

You will first need to buy units of the top-tier coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Follow the Link below for registration and getting your welcome Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Transmit Your Bitcoin or Ethereum to an Cryptocurrency Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Stellar (XLM) is available on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this how-to)

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

BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be opposed (Follow these easy steps).

Step 3 – Find Stellar (XLM)

Once your deposit has been verified, you will immediately have access to your assets and you can launch buying and trading. To purchase Stellar (XLM) on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

In order to spot Stellar (XLM), you'll need to insert the cointype (XLM) into the search-box, which is highlighted in the graphic. Make sure you have choosen the proper grouping, we've highlighted this too. Click on “XLM/BTC” to go on.

Step 4 – Buy (XLM) Stellar

After you've found Stellar (XLM), you'll be given a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). For now we're creating our own Limit Order.

The field with the “Price” tag will be filled automatically with the recent price Stellar (XLM) was sold for. This can be changed to your preferred price. The field with the “Amount” tag is the amount of XLM you wish to purchase. The “Total” field is the total price in Bitcoin that you will pay for the whole quantity of XLM.

When you're happy, click on “Buy XLM”. Your plan will be filled when a Seller sells their XLM for the price you gave.

Step 5 – Withdraw Stellar (XLM)

Unless you are trading, best advise is not to keep your crypto on an Crypto Exchange for an longer time period. In order to take off your Stellar (XLM), go to the tab called “Funds” and click on “Withdraw”. Stellar (XLM) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find (XLM) Stellar by using the provided drop-down box. Enter the quantity of (XLM) Stellar you'd wish to take off. Take into account the shown fees/minimums. Also make sure you have entered your correct withdraw address.

If you are satisfied, click on “Submit”. You may be asked for verfication via email/phone before a withdrawal.

Congrats! You have successfully purchased and stored Stellar (XLM) in Nigeria.

That's it!

Withdrawals from Crypto Trader can take anywhere from 1 – 30 minutes (rely on usage of the network). Once you have proved your withdrawal with Etherscan.io or Ethplorer.io and the Stellar (XLM) is stored in your wallet, you are done.