How and Where to Buy Stellar Lumens (XLM) Crypto: A Beginner’s Guide

The innovative Stellar network connects different institutions and aims to provide more accessible and efficient cross-border transfers. Its seamless and speedy transfers have encouraged several financial institutions to adopt Stellar. 

And just like them, if you are also interested in investing in Stellar Lumens (XLM) crypto, this guide is all you need! Together, we shall explore the entire roadmap to buy Stellar and learn more about how you can trade crypto more securely.

What is Stellar Crypto?

Stellar Lumens (XLM) was launched in 2014 by Jed McCaleb, who initially set it up to offer low-cost, rapid, and more accessible cross-border transactions. Simply put, it is a decentralized network where you can transfer your traditional currency to digital tokens without hassle.

Besides this, the platform has its currency (Lumens) for transactions. This serves Stellar’s aim to create an inclusive global economy by encouraging collaboration and seamless transactions. 

Where to buy Stellar Lumens (XLM) crypto? 

You can buy Steller’s native currency, Lumens (XLM), using a few methods. Various crypto exchanges, wallets, brokers, and Stellar DEX UI all support Lumen trade and purchase. Here is a little more detail: 

Crypto Exchanges

Multiple popular crypto exchanges like Binance, Coinbase, Kraken, and Crypto.com, among others, support Stellar Lumen (XLM).

Source: Coinbase

Source: Binance

Source: Crypto.com

Stellar DEX UIs: 

The Stellar DEX is a decentralized trading platform that allows crypto enthusiasts to purchase and trade different assets without relying on some traditional exchange. It is a powerful feature that is built on the Stellar network. 

Source: StellarX

Peer-to-Peer (P2P) platforms

It is a common way for individuals to trade cryptocurrency. Such platforms help connect buyers and sellers directly to facilitate direct trade. Paxful and LocalBitCoins are a few peer-to-peer platforms where you can find XLM enthusiasts. 

OTC (Over-the-Counter) desks

Over-the-counter services are available for large-volume trades, and you can use one to buy or sell significant amounts of XLM. 

Brokers

Broker exchanges also offer a simplified experience for people to buy XLM. These are good platforms for people just starting their crypto journey and often use traditional payment methods like credit cards. Some brokers that support XLM are eToro, Capital.com, etc.

Source: Reddit

How to buy Stellar crypto?

Here is a general method you would use to buy Stellar Lumen on an exchange platform: 

Choose a Cryptocurrency Exchange

You can choose a crypto exchange from where you wish to purchase Stellar Lumen. Here is a brief list: Binance, Coinbase, Kraken, Crypto.com, etc. 

Create an Account on the platform

Create a user account on your chosen crypto exchange. Make sure you use a strong password for improved access security. 

Identity verification

You will also need to verify your account in most cases. For this, you will need essential documents like your driver’s license.

Deposit funds

You can now deposit funds into your account, for which different exchanges offer different methods, including wallet transfers, credit cards, etc. 

Buy Stellar Lumens (XLM)

After your account has some credit, you can search for XLM on the exchange platform. Select a particular currency you will use for the purchase (e.g., XLM/USD or XLM/BTC). 

Enter the amount

Enter your order type if applicable and provide the amount of XLM you wish to purchase or the amount you want to spend buying XLM in your local currency.

Finalize XLM purchase

Review the order and confirm the purchase. After the successful transaction, XLM will be added to your digital wallet.

However, being aware of the risks while purchasing or investing in cryptocurrencies is always advisable. With crypto and blockchain technology rising, crypto scammers seek new ways to trick enthusiasts. 

Here is an example: 

source: Reddit

Why should you invest in Stellar Lumen XLM?

More than 800 companies have adopted XLM due to its low-cost and efficient transfers. Even tech giants like IBM used Steller’s XLM to launch World Wire, a blockchain to revolutionize cross-border trade. The currency is also quite popular among developers and entrepreneurs. Here are a few reasons why would you want to invest in Stellar:

• Stellar supports fast XLM transactions and efficient cross-border transfers.
• Cost-effective transfers where the minimum per-transaction fee is 0.00001 lumen.
• Stellar also has a decentralized exchange called StellarX built into the platform.
• Uses minimum balance strategy to eliminate chances of scams (minimum balance is 1 lumen). 
• Stellar has partnerships with more than 800 companies to support its aim to make cross-border exchanges more rapid. 
• Steller’s XLM has shown significant potential for growth in the past few years.

Source: Reddit

Where to keep Stellar Lumens?

You can store your Lumens in a wallet, which can be software- or hardware-based. Various crypto exchanges that allow you to buy Stellar crypto will also offer a digital wallet to store your purchased XLM. However, this option is usually less secure than a hardware wallet. Here are some wallets listed on the Stellar website that support Lumen (XLM):

• StellarX
• Juno
• Trust Wallet 
• and more!

You can choose from various types of wallets like hardware, software, paper, cold, custodial, etc. Ensure the wallet supports advanced security features like encryption, 2FA (two-factor authentication), etc. A friendly interface is always an added plus, especially for a beginner. And also, make sure that your chosen wallet supports XLM.

How to securely buy Stellar Lumen (XLM)?

According to a recent report, there has been a 79% increase in crypto-related scams. Under these circumstances, you must ensure your crypto transactions are secure and scam-proof.

You can enhance your security while trading crypto with a trusted crypto VPN. Many people wonder whether they can use a VPN for crypto, but using a reliable VPN service is not only okay but often recommended by security experts. 

Trade Stellar more securely: Get PureVPN today!

PureVPN offers straightforward solutions for modern-day crypto scams. How? Well, with PureVPN, you can ensure that your anonymous blockchain transactions are non-interceptable by malicious attackers.

Using PureVPN’s advanced AES 256-bit encryption and IP masking features, you can hide your online identity and crypto transactions from scammers snooping around for information. Here are some security features you can avail of with a PureVPN subscription:

• IP masking feature to hide online identity.
• Bypass regional crypto bans and access internal crypto exchanges.
• Avoid bandwidth throttling and CGNAT restrictions.
• Get around IP bans.
• Get exclusive regional deals and discounts. 
• Extend your connectivity with an extensive network of 6500+ servers.
• Get better protection against cyber threats like DDoS, Malware, and Ransomware. 

Navigating Stellar XLM purchase securely: Bottom line!

Stellar Lumen (XLM) allows you to make rapid cross-border crypto exchanges with its efficient network and built-in DEX (StellarX). 

However, with crypto trade, there is always some risk, but it does not have to be a security threat. 

With constant vigilance, knowledge about crypto scams, and a reliable crypto VPN, you can fortify your crypto transactions against malicious cyberattacks.