How to Sell XLM
Looking to shake up a stagnant crypto portfolio? No longer using Stellar for business payments?
First, make sure you understand the implications of selling your XLM. Depending on when you first bought, you may be selling at a profit (or loss), which could impact your portfolio and carry associated tax responsibilities.
As XLM is a cryptocurrency, it trades on an open, global market, meaning that depending on when you sell XLM, buyers may offer better prices. Remember, the value of XLM fluctuates against other cryptocurrencies (like BTC or LTC) as well as fiat currencies (like EUR and GBP).
An exchange with a real-time order book (like Kraken) will give you to-the-minute updates on what buyers and sellers are thinking about the current price of XLM.
If you’re sure (and ready to sell XLM), follow our guide below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some xlm!
New to crypto?
For more details on what gives XLM value, read our official “What is XLM?” guide.
Why sell XLM?
Depending on your risk tolerance and investment allocations, you may find it advantageous to sell XLM for other cryptocurrencies or fiat.
You may want to sell XLM if you’re seeking to:
- Avoid losses or capture gains in times of price volatility
- Realize gains from previous XLM purchases
- Claim gains or losses as part of your annual tax reporting
- Sell XLM for fiat currency (like USD or EUR) or cryptocurrency
How do I sell XLM on Kraken?
If you’re ready to sell XLM, follow these easy steps below:
Sign up for a Kraken account
You just need an email address, username and a strong password.
Verify your Kraken account
All you need is your name, birth date, country of residence and phone number. If you own XLM, you can deposit it today and sell your crypto.
Send XLM to your Kraken address
If you want to sell XLM for another cryptocurrency (like BTC or ETH), generate a deposit address in your Kraken account and send your XLM to that address. Depositing crypto to Kraken is as easy as transferring it to any crypto address.
If you want to sell XLM for a fiat currency (e.g. USD or EUR), you’ll need to send us identification and proof-of-residence documents. You can learn more about our different verification levels here.
Once your account is funded, you can sell XLM and other cryptocurrencies.
If you run into any trouble selling XLM, let us know. Our support staff is online 24/7 ready to help. You can reach us on LiveChat or by email anytime.
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