Buy Stellar (XLM)

Buy Stellar or XLM crypto currency by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about how to Buy Stellar or XLM cryptocurrency.

How To Buy Stellar or XLM Cryptocurrency?

Launched in 2014, Stellar is a blockchain system that was developed with an interesting idea behind it – to facilitate multi-currency transactions. More importantly, the XLM token can be used as a “bridge” between different currencies that do not have their own direct market. It brings additional value to the Stellar network, which has lately gotten a lot of attention from retail traders and companies alike. Stellar has announced partnerships with IBM, SatoshiPay, KlickEx and other companies regarding blockchain-based cross-border payments.

A lumen, or XLM, is the digital currency unit behind Stellar. These are the assets, built right into the network.

How to buy Stellar Lumens (XLM)

Unlike the major cryptocurrencies like Bitcoin and Ether, Stellar currently cannot be purchased with fiat currencies (such as USD, EUR, JPY) on any crypto-exchange. It seems that the only platform that allows this is the Stellar Decentralized Exchange, which is built in the Stellar Network. Unfortunately, it is not beginner friendly and its trading volumes are currently quite low.

Nonetheless, you can first buy Bitcoin (BTC) or Ethereum (ETH) on a bunch of platforms and then exchange it to Stellar Lumens (XLM). You can easily do that at Coinbase.

1. First, of course, you need to register at Coinbase – a major reputable cryptocurrency exchange that supports bank transfers as well as debit / credit card payments with low transfer fees. Besides, it is easy to use and accepts US citizens.

2. Sign up with a platform that allows you to exchange your BTC for XLM like Kraken, Binance or Poloniex. Coin-to-coin pairs are offered by a lot more exchanges, and have significantly lower trading fees. Besides, many of them do not require ID verification.

3. Transfer your BTC from Coinbase to the other exchange. In order to do that, you simply need to copy the BTC address from Coinbase and paste it for deposit into the other platform of your choice.

4. Search for BTC/XLM on this platform and proceed with the trades.

5. After you already have some Stellar, we suggest that you store it in a wallet, instead on the exchange. As you have probably heard, it is not uncommon for exchanges to get hacked. We suppose that the Ledger Hardware wallet is the safest way to store your cryptocurrencies for the long-term, but you have a lot of other options.

6. If you wish to sell your XLM coins and withdraw them in USD dollars or other fiat, you have to undergo the process described above vice versa.

Yet another option to trade in Stellar Lumens (XLM) is to do that with a forex broker. Some of them offer cryptocurrency CFDs, unfortunately still there aren’t any brokerages that support XLM. There are both advantages and disadvantages to trading digital assets with a forex broker. The most obvious advantage of this type of trading is that most FX brokers are regulated, while exchanges usually aren’t. Currently, eToro is the only forex broker that supports Stellar.

To buy the coin you can sign up with a cryptocurrency broker, you can use Plus500, XM, eToro, Fxpro or AvaTrade crypto currency brokers.

How to buy Buy Stellar or XLM Cryptocurrency Conclusion

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