How to Purchase Stellar (XLM) using BlockFi (BFI)

To buy Stellar using BlockFi, first, find a cryptocurrency exchange that supports the XLM/BFI trading pair. Create an account, verify your identity, and deposit your BFI into your exchange wallet. Locate the XLM/BFI pair on the trading platform and place an order to exchange your BlockFi for Stellar. If the XLM/BFI pair is unavailable, you can first exchange BlockFi for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Stellar. 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.