How to Purchase Canadian Dollar (CAD) using Stellar (XLM)

To buy Canadian Dollar using Stellar, first, find a cryptocurrency exchange that supports the CAD/XLM trading pair, such as YouHodler or Wirex. Create an account, verify your identity, and deposit your XLM into your exchange wallet. Locate the CAD/XLM pair on the trading platform and place an order to exchange your Stellar for Canadian Dollar. If the CAD/XLM pair is unavailable, you can first exchange Stellar for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Canadian Dollar. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.