How to Buy Stellar Lumens (XLM)

By mindmingles On Sep 14, 2022

Introduction

This work has provided useful insights on how to buy the Stellar Lumens (XLM) coin. Investors will also find in this work the list of the best crypto exchanges for buying the Stellar Lumens coin today. We have further provided in this work the advantages and disadvantages of buying the Stellar Lumens coin to guide investors in making decisions on whether to buy the Stellar Lumens coin or simply refrain from doing so.

What is Stellar Lumens (XLM)

Stellar coin (XLM) is a unique open-source network, designed for the exchange of digital assets across various networks. The Stellar Lumens network is so welcoming that it does not isolate between unrelated fiat currencies or tokens. It uses a Stellar consensus protocol for approving all transactions placed on its blockchain. The Stellar Lumens network allows users to make payments using multiple options such as the digital form of gold, the digital form of any fiat currency, or any other token including the Stellar Lumens coin -XLM.

Where can one buy the Stellar Lumens (XLM) Coin?

The best place to buy the Stellar Lumens coin is through a regulated crypto exchange. To buy the Stellar Lumens coin from a given crypto exchange, one will need to create an account with the exchange and complete the identity verification process. We have therefore provided a detailed guide below on how to buy the Stellar Lumens coin from the selected crypto exchange.

Step-by-step guide on how to buy Stellar Lumens (XLM)

Choose a regulated crypto exchange: To buy the Stellar Lumens coin, the trader needs to find out the list of exchanges where the stellar lumens coin has been listed for trading. The trader must ensure that the selected Crypto exchange charges low fees for trading and are duly registered with the regulatory authority within the region.
Create an account with the exchange: The next step once the trader has identified the best exchange for trading, is to sign up an account with the exchange. Here the trader would be required to provide his identification details such as name, country, email, and phone.
Complete the identity verification process: After the initial registration, some exchanges still demand further details such as one’s passport and residential number. The trader will have to upload this on the exchange’s platform for the exchange to review them.
Fund your account: Upon successful account approval, the trader can therefore proceed to fund his account with the desired amount of stellar lumens coin he wishes to purchase. Most exchanges provide multiple options for funding to make this process an easy one for the trader. The trader is to choose the most convenient method for funding from the list provided by the exchange and proceed to make his deposit.
Place your order: The final step after one’s account has been funded is to proceed to the trading platform and place one’s orders for the desired number of stellar lumens coins that the trader wishes to purchase. The indicated amount will be swapped with the deposited funds (USDT) and added to the trader’s wallet.