Buying TFT on Stellar

#1

I’m trying to buy TFT on stellar, but I’m a relative noob when it comes to trading crypto.

As I understand you first buy XLM, on e.g. Liquid, I do this in Euro’s.
Then you transfer the XLM to your wallet on Stellar
Then you swap XLM for TFT on Stellar

When you want to sell TFT, you first swap TFT for XLM on Stellar
Then you transfer the XLM to Liquid
Then you sell XLM for Euro
The Euro’s in your wallet you can transfer to your bank-account.

Am I correct?

My problem is that in this scenario I completely loose track on what the value of TFT is in Euro’s.

I would like to see what the value of a certain amount of TFT is in Euro’s, but I can’t seem to find that information on both Liquid nor Stellar.

Any help or further insights is appreciated.

#2

thats correct you cannot directly see the value to EUR
you have to know what it represents in XLM and then work from there.

at one point in time we will have our atomic swaps in our wallet and 3bot and then things will be much easier to follow between any and any currency.
For now you need to do it in steps.

maybe we can soon create something to show you the value of TFT in any currency, that would be cool I think.

1 Like
#3

Ok…

I transferred EUR 10 to Liquid, and after 4 days EUR 5 was added in my wallet as I had to pay EUR 5 SEPA costs, so that is 50% loss already (yes, I know its a small amount that I deposited, but this is a test)

Then I tried to swap EUR to XLM on Liquid, but that is not available for some reason.

So then I tried to buy XLM in the trade section. Buying XLM with EUR is also impossible it seems.

So, next I tried to buy BTC for EUR on the Market. You cannot just enter you want 5 EUR worth of BTC, no you just have try which value of BTC matches EUR 5.

When I figured that out, I now see you that the minimum order is 0.001 BTC, or just over EUR 8, currently.

So now I have to deposit some extra money again.

Extremely unimpressed with this process so far…

#4

For small amounts, centralized exchanges such as Liquid are indeed not the best thing, but this is a general issue and has nothing to do with our own technology.
The decentralized exchange on StellarX gave me a way smoother experience.
I bought a small amount of XLM through my Lobstr mobile wallet (but there are more Stellar wallets that enable trading tokens on the Stellar network, including BTC and stable coins). I could do that using my credit card, only thing was that ‘as a KYC process’, I was called within the hour by someone verifying it was really me buying.
Once I had the XLM on my wallet, I refunded the 1.5 XLM that Lobstr gave me as a credit, and then I could create the trustline towards TFT (requiring about 1 XLM per trustline). And I could start trading !

The 3Bot Connect app release that will appear in the coming days (a little bit of patience there please, final tests are ongoing) will cope with the hassle of creating trustlines. Though, it won’t give access yet to the decentralized exchange.

#5

Hi,

I tried Lobster too, but it failed (in India). I will try again.

"Once I had the XLM on my wallet, I refunded the 1.5 XLM that Lobstr gave me as a credit, and then I could create the trustline towards TFT (requiring about 1 XLM per trustline). And I could start trading !
"

Ok, no clue on how to do that…

“The 3Bot Connect app release that will appear in the coming days (a little bit of patience there please, final tests are ongoing) will cope with the hassle of creating trustlines. Though, it won’t give access yet to the decentralized exchange.”

Ok, new to me we needed yet another piece of the puzzle. Awaiting this update then…

I see I can buy TFT with cards on Mazraa, but it looks another KYC process awaits me there.

Waiting for the possibility to buy TFT with cards (also debit cards) via 3Bot…

#6