How To Buy Stellar Lumens (Xlm) – Simple Guide 2021

How To Buy Stellar Lumens (Xlm) – Simple Guide 2021

If you’re keen to expand your crypto holdings beyond the popular options like Ethereum and Bitcoin, then Stellar Lumens is a serious option for you. This cryptocurrency is a product of the Stellar Network. Here, we will help you understand how to buy Stellar Lumens (XLM) easily.

Step 1: Opening an online account with a crypto exchange or broker is the first and important step to buying Stellar Lumens. However, before you select an exchange, keep in mind that there are two types of brokers/exchanges – one that specializes in trading cryptocurrencies and the other that lets you access the market with the ability to trade not just Stellar Lumens but also other assets. Some of these brokers let you combine trading in Stellar Lumens with forex and stock trading. 

Step 2: Once the account is opened, a cold storage wallet needs to be purchased especially if you plan to hold your coins for a long time. In simple terms, a cold storage wallet refers to a physical device in which your coins can be stored. These types of wallets are considered a safer option as compared to hot storage solutions as the latter need to be connected with the internet and are susceptible to theft and hacks.

Step 3: After opening your account and setting up your wallet, the next logical step is to buy Stellar Lumens. When you execute a buy order, you’re providing your broker a set of instructions that indicates to them how many Lumens you intend to buy and the price at which they need to be bought. A majority of exchanges give you control to select order types. Once you’re through this step, you can wait for the broker to handle the rest of things on your behalf. After the transaction is complete, coins will be reflecting in your account. 

Let’s have a look at some of the best and most popular crypto exchanges through which Stellar Lumens can be bought:

Table of Contents

How to Buy Stellar Lumens 2021 (XLM)

1. Binance

Binance is one of the largest and most trusted cryptocurrency exchange platforms in the world. Among hundreds of cryptos traders can buy and sell through Binance, Stellar Lumens is one of them. The overall functionalities and features of Binance are remarkable. For those who are looking to maximize profits, the exchange provides access to a variety of currencies and charges low fees among all the players in the industry. The easy-to-use and intuitive dashboard of Binance make it easier and hassle-free for users to navigate through different features and make simple transactions. 

2. CEX.IO

CEX.IO came into existence in 2013 and was amongst the earliest crypto exchanges to enable fiat-to-crypto transactions via bank transfers and card payments. The fact CEX.IO allows users to trade a variety of cryptos, including Stellar Lumens is known to everybody but it also provides businesses with a platform to do a lot of other things, like staking rewards, margin trading, etc. With more than 4 million registered users spread across more than 99% of countries, CEX.IO is truly a global company whose services can be had on both Android and iOS devices.

3. Coinbase

A favorite among cryptocurrency traders, both experienced and beginners, Coinbase has always been known for its intuitive fee schedule, simple order placements, and hassle-free account setups. When you choose to get associated with Coinbase, you’re able to execute a trade order in less than a minute most of the time. What is also impressive about this exchange is that you can buy Stellar Lumens and other cryptos using direct fiat transfers. Another interesting and useful feature of Coinbase is it allows traders to earn little cryptos by participating in quizzes.

4. Changelly

Changelly has attracted several users, especially Stellar Lumens traders owing to its smooth operations and security features. This platform has been growing since 2013 when it was just a prototype. One of the attractive features of Changelly you’ll notice while trading with Lumens is that no personal information will ever be collected by the users. To be sure your transactions and trading accounts are safe and secure; Changelly employs a 2-factor authentication feature. To get the best out of Changelly’s services, users can consider using its API and widgets. This means crypto exchange services can be had by users straight from their wallets.

How To Buy Stellar Lumens (Xlm) – Simple Guide 2021

If you’re keen to expand your crypto holdings beyond the popular options like Ethereum and Bitcoin, then Stellar Lumens is a serious option for you. This cryptocurrency is a product of the Stellar Network. Here, we will help you understand how to buy Stellar Lumens (XLM) easily.

Step 1: Opening an online account with a crypto exchange or broker is the first and important step to buying Stellar Lumens. However, before you select an exchange, keep in mind that there are two types of brokers/exchanges – one that specializes in trading cryptocurrencies and the other that lets you access the market with the ability to trade not just Stellar Lumens but also other assets. Some of these brokers let you combine trading in Stellar Lumens with forex and stock trading. 

Step 2: Once the account is opened, a cold storage wallet needs to be purchased especially if you plan to hold your coins for a long time. In simple terms, a cold storage wallet refers to a physical device in which your coins can be stored. These types of wallets are considered a safer option as compared to hot storage solutions as the latter need to be connected with the internet and are susceptible to theft and hacks.

Step 3: After opening your account and setting up your wallet, the next logical step is to buy Stellar Lumens. When you execute a buy order, you’re providing your broker a set of instructions that indicates to them how many Lumens you intend to buy and the price at which they need to be bought. A majority of exchanges give you control to select order types. Once you’re through this step, you can wait for the broker to handle the rest of things on your behalf. After the transaction is complete, coins will be reflecting in your account. 

Let’s have a look at some of the best and most popular crypto exchanges through which Stellar Lumens can be bought:

Table of Contents

How to Buy Stellar Lumens 2021 (XLM)

1. Binance

Binance is one of the largest and most trusted cryptocurrency exchange platforms in the world. Among hundreds of cryptos traders can buy and sell through Binance, Stellar Lumens is one of them. The overall functionalities and features of Binance are remarkable. For those who are looking to maximize profits, the exchange provides access to a variety of currencies and charges low fees among all the players in the industry. The easy-to-use and intuitive dashboard of Binance make it easier and hassle-free for users to navigate through different features and make simple transactions. 

2. CEX.IO

CEX.IO came into existence in 2013 and was amongst the earliest crypto exchanges to enable fiat-to-crypto transactions via bank transfers and card payments. The fact CEX.IO allows users to trade a variety of cryptos, including Stellar Lumens is known to everybody but it also provides businesses with a platform to do a lot of other things, like staking rewards, margin trading, etc. With more than 4 million registered users spread across more than 99% of countries, CEX.IO is truly a global company whose services can be had on both Android and iOS devices.

3. Coinbase

A favorite among cryptocurrency traders, both experienced and beginners, Coinbase has always been known for its intuitive fee schedule, simple order placements, and hassle-free account setups. When you choose to get associated with Coinbase, you’re able to execute a trade order in less than a minute most of the time. What is also impressive about this exchange is that you can buy Stellar Lumens and other cryptos using direct fiat transfers. Another interesting and useful feature of Coinbase is it allows traders to earn little cryptos by participating in quizzes.

4. Changelly

Changelly has attracted several users, especially Stellar Lumens traders owing to its smooth operations and security features. This platform has been growing since 2013 when it was just a prototype. One of the attractive features of Changelly you’ll notice while trading with Lumens is that no personal information will ever be collected by the users. To be sure your transactions and trading accounts are safe and secure; Changelly employs a 2-factor authentication feature. To get the best out of Changelly’s services, users can consider using its API and widgets. This means crypto exchange services can be had by users straight from their wallets.

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