A Beginner’s Guide to Buying and Selling Stellar XLM Cryptocurrency in Ireland
If you’re based in Ireland and wish to buy Stellar – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Stellar XLM tokens you want to buy.
Research and information are key elements in the crypto space for investors because it enables them to enter the market with all the necessary knowledge and information for proper decision-making.
Stellar, also called Lumen, stands among the most promising cryptocurrencies in the market today. It is an open-source, decentralized protocol for digital currency to fiat money low-cost transfers. In addition, stellar tokens allow cross-border transactions between any pair of currencies.
What’s in this guide?
By understanding the following guide, you will acquire the right information to help you buy, sell or store your Stellar tokens. After that, you can acquire or dispose of your cryptocurrencies safely and securely.
The guide is deeply informative and is tailored to ensure that even the freshest of investors will effectively navigate the crypto market. Nonetheless, it is imperative to note that consulting with your financial advisor will go a long way in ensuring that you are well prepared for the market.
Other than the financial advisor pointing out the stakes that are characteristic of the crypto market, he or she will also inform you of the level of risk in the market. Unfortunately, many investors are losing their investments daily simply because they lack the guidance of an expert.
- QUICK GUIDE: HOW TO BUY STELLAR XLM IN IRELAND
- Where to buy Stellar in Ireland
- A Step-by-step Guide to Buying Stellar in Ireland
- How to Sell Stellar
- Which wallets can I use to hold Stellar?
- How Stellar works
- Key things to consider if you’re thinking about buying Stellar in Ireland
QUICK GUIDE: HOW TO BUY STELLAR XLM IN IRELAND
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select XLM.
- Enter how many Stellar XLM coins you want to buy.
- Check the details and confirm your purchase.
Where to Buy Stellar XLM in Ireland
Investors who want to buy the Stellar tokens and diversify their portfolio should use the crypto exchange, focusing on supporting both Stellar tokens and EUR.
A Step-by-step Guide to Buying Stellar XLM in Ireland
There are two primary means for buying the Stellar tokens, and investors should use the following guidelines for successful purchase:
Buying Stellar with other cryptocurrencies
The first option that enables you to buy the Stellar tokens is through the use of other cryptocurrencies like Bitcoin or Ethereum, among others. To do this, buy the other cryptocurrencies, which you will, after exchanging for the Stellar. However, you need to do proper research of the account you open because the option is not provided for by every exchange account.
For instance, when you want to buy Stellar using Ethereum, select the pair that aligns with your intended trade, in this case, ETH/ XLM.
Buying Stellar using fiat currencies
Another approach to buying the Stellar tokens involves using fiat currency, thus the EUR.
Follow the following steps when you are ready to buy the Stellar tokens:
Step 1: Register with an exchange
To buy the Stellar tokens, the first thing you need to do is register to open an exchange account. There are many cryptocurrency exchange companies across the entire Ireland country, hence the need to research well for the one that supports both Stellar and EUR. There are certain personal details that you will be required to provide during the registration process. Among them include your name, phone number, email address, and a proof of address document, possibly your utility bill. As stipulated by set compliance measures, you must verify your information in adherence to the KYC rules. The rules require government-issued document such as your national identity card will be useful. During the account registration process, make sure you set a very strong password alongside a multi-factor authentication. Doing so ensures that the account is secure against unauthorized access.
Step 2: Fund your account
After registering the account, the next step is finding it to start buying the Stellar tokens. Funding can be done through a direct bank transfer or linking your credit or debit card with the exchange account.
Step 3: Buy Stellar XLM
You are finally ready to buy your Stellar coins at the third step because you have the account and the requisite funds. There are two options that you can use to buy Stellar. First, using EUR, or secondly, using another cryptocurrency. For the latter, select the pairs matching against Stellar. These pairs will be listed as ETH/XLM, BTC/XLM, and others. So, for example, to buy with EUR, you can select the pair written EUR/XLM.
Having selected the pairs you wish to exchange with, confirm the transaction and check your email to notify that the transaction is under processing.
How to Sell Stellar
You have already bought the Stellar tokens and have decided that you want to sell them. Follow the following steps to sell the coins just as you bought the tokens.
To sell, sign into the exchange account and go to the sell section of the exchange. Next, please specify the number of Stellar tokens you wish to sell and receive its relative amount afterwards directly in your account.
Certain exchange accounts do not support a direct exchange of Stellar for EUR. Instead, you have to trade the Stellar tokens for another coin and later trade these for EUR.
Which wallets can I use to hold Stellar?
There are two different kinds of wallets that you can use to hold your Stellar crypto tokens. Among these two include the online and offline options. The online wallet stores your tokens online. Online wallets are also known as hot wallets, and they allow you to withdraw and sell your crypto whenever you want to.
The other type of wallet is the cold wallet, which allows you to hold your Stellar tokens for a long time without selling them. Cold wallets are safe because they store your tokens offline on external devices such as a USB drive.
How Stellar works
Stellar tokens, just like other coins in the crypto space, is based on the blockchain network. As such, Stellar has a decentralized feature that makes it possible for investors to either sell or buy it even in the absence of a broker. Decentralization of the token makes financial transactions easier, cheaper, and fast because no intermediaries are involved.
Key things to consider if you’re thinking about buying Stellar in Ireland
Some things you should consider before buying Stellar in Ireland include:
Availability of the token is the very first thing you have to consider, which is why you ought to prioritize a token that is available in plenty. Cryptocurrencies with a high market supply and high circulation within the market will certainly be easily sold and bought.
Tokens that have high usability can be used over a wide range of transactions. Therefore, such tokens are the best investment.
You also need to check the volatility of the token. Every cryptocurrency is very volatile because its prices will keep changing. So you need to invest in Stellar if you are aware of the high risk involved.
Read Also: Will Stellar Lumens (XLM) Make Me Rich?
eToro – Best Exchange to Buy XLM in Ireland
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Virtual currencies are highly volatile. Your capital is at risk.
Where can I buy Stellar in Ireland?
The only place for you to buy Stellar is from a cryptocurrency exchange
Are Stellar tokens volatile?
Just like with the other cryptocurrencies, Stellar tokens are highly volatile because their prices keep fluctuating.
Can I buy Stellar with a credit card?
Yes, that is one of the options some exchanges will give you to fund your account.