Smartlands (SLT) has been a major gainer over the last 48 hours. Here’s how you buy SLT on Stellar’s DEX and store it safely.
Smartlands (SLT) became the first startup to launch off Stellar’s new ICO platform, and has been the top gainer on Coinmarketcap for 3 days consecutively.
Smartlands, a new tokensized platform for agricultural assets, has risen a staggering 184% in the past 24hrs and an even more impressive 1,118% in the past 48hrs – from $0.22 to its current price of $2.68. With a very small total supply of 7,186,785 coins, the scarcity of SLT will make it appealing to new investors, with the likelihood of delivering good returns if the project becomes a future success.
This is a very promising start for Stellar as it aims to compete with other ICO platforms such as NEO and Ethereum, which have already launched similarly successful projects.
Where can you buy SLT?
At the time of writing, Smartlands’ native token, SLT, is exclusively available on Stellar’s decentralized exchange (SDEX). You can find it by following the link below:
This new exchange is very basic, in comparison to more established exchanges such as Bittrex and Binance. For those of you who are unfamiliar with how to setup an account on SDEX, click on the link above and scroll down to the second text box entitled “Create Account Keypair”.
(2) Click on the ‘Generate keypair” button which will randomly generate your PUBLIC KEY and your SECRET KEY.
**As always, you will want to make duplicate copies of these keys offline. Pen and paper is recommended.
**Double check that you have your secret key written down correctly, any mistakes may result in you being unable to access your account.
Your public key will act as your receiving address, to fund your SDEX account. The minimum transaction required to activate your SDEX account is 1 XLM (Stellar Lumen).
Your secret key acts as your password to access your account each time you log in.
(3) Once you successfully log into your new account, using your secret key, you will need to add SLT as a ‘trust line’.
Click on the “Account” tab and just beneath the top navigation bar is a second option “Accept Assets”
It costs 0.5 XLM to add a new trust line to your account. These trust lines are essentially just trading pairs that you wish to buy or sell on the platform– in this case SLT/XLM.
(4) The next step is to go onto the “Markets” tab along the top navigation bar, scroll down to find ‘SLT’ and then on the far right hand side of the screen click the link that says “trade”.
(5) Finally, once you’re onto the XLM/SLT market, scroll down to the order book where it says “BUY SLT using XLM” and “SELL SLT for XLM”.
In order to buy SLT you will need to fund your account with sufficient XLM (Stellar Lumens), using your Public Key generated at the start, as your XLM address.
The exchange will automatically input the best market price for SLT in the BUY box, if you’re trading for the first time it’s fine to leave it as it is. However, you can manually change it if you’re looking to try buy SLT at cheaper than market rate, but obviously whether your order will fill or not depends on volume and market movements.
Where to store your SLT
Smartlands is in the process of releasing its own wallet for SLT. For now, there are a number of different Stellar wallets available ranging from hardware, desktop and mobile wallets.