Anchors

Deposit Ether to Non-Funded Account on StellarTerm using Papaya

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umbrel
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Use the Papaya Anchor to Acquire Ether on a Non-Funded Stellar Account

Papaya offers an easy way to acquire anchored Ether for use in the Stellar network, even if you do not have an activated Stellar account yet. Papaya will use a portion of the Ether you deposit to fund your new account with the minimum XLM required.

Select Ethereum on Papaya

Visit https://apay.io/ and select "ETH" for Ether.

Send ETH to Ethereum Address

Paste in your new, unfunded Stellar address on the Papaya website, click “Get ETH Address”, and then send Ether to the Ethereum address that appears. The minimum deposit is 0.005 ETH. Once your Ethereum transaction is confirmed, Papaya will create your Stellar account by funding it.

Set Trustline

At this point, Papaya will try to send you your Ether, but it cannot because you have not yet set up a trustline. Sign into StellarTerm (https://stellarterm.com/) with your newly funded Stellar account. Click on the “Accounts” link in the header, then the “Accept assets” link in the subheader. Scroll down to the ETH asset by Papaya (apay.io) and click the green “Accept ETH” button.

Papaya will now complete the process of sending your newly funded account ETH. You now have anchored Ether that you can use for trading on the Stellar DEX or other purposes. Your ETH balance should be for the amount you transferred in, minus the amount converted to XLM to fund your account. You can also acquire other anchored assets that Papaya anchors like Bitcoin, Litecoin, and ZRX.

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