The popularity of cryptocurrencies is increasing day by day and so is the interest of investors. With more than 1500 cryptocurrencies to buy/sell/trade/invest, there is one common question from newbies entering into crypto world, which is “How to buy X coin? or Where to buy X coin?”In this article, I will explain you to ” How to Buy Stellar Lumens (XLM) Cryptocurrency”. The basic procedure to buy/sell for almost all the cryptocurrencies remains the same.It is just that, one must know which cryptocurrency is listed on which cryptocurrency exchange.
Stellar is a distributed, hybrid blockchain that is fully open-source. It’s infrastructure that exists to facilitate cross-asset transfers of value, including payments. With just one integration into the Stellar Network, you will join an open, global financial network where all actors be the people, payment networks, or banks will have equal access & economic participation.
The open source decentralized worldwide financial system Stellar was formerly based on Ripple network. Following the detection of vulnerability, the Stellar Development Foundation started developing a new algorithm. Stellar went line in November 2015 after the new algorithm was developed in April 2015.
The Stellar Network uses Stellar Lumens (Symbol: XLM) as a currency on the network. Stellar Lumens cannot be mined.
The above mentioned steps are for those who have basic knowledge of the crypto world and can register themselves on cryptocurrency exchange and buy/sell cryptocurrencies. If you did not understood the above process, I am sure you are new to the crypto world. For newbies, I have mentioned a detailed step-by-step guide on “How To Buy Stellar Lumens (XLM)”
Stellar Lumens Cryptocurrency can be bought from cryptocurrency exchanges / cryptocurrency trading platforms in exchange of Bitcoin or Ether. But first you need to register an account on the cryptocurrency exchange on which Stellar Lumens is listed for buying/selling.
I have mentioned below the list of cryptocurrency exchanges from where you can buy Stellar Lumens cryptocurrency. As of now, lets take the example of Binance cryptocurrency exchange, which has the most volume in trading of Stellar Lumens as compared to other cryptocurrency exchanges. (The procedure for other cryptocurrency exchanges remains the same)
Now let’s explain you in detail about each and every step for a hassle free way to buy Stellar Lumens Cryptocurrency
NOTE: I strongly recommend you to activate Two-Factor authentication (2FA) to your Binance Account. 2FA adds additional layer of security to the account. Make sure you keep a backup of the 2FA phrase before activating it.
Once bought, your XLM tokens will be stored in Binance’s XLM wallet. You can either store it here or transfer it to any other cryptocurrency exchange or XLM wallet.
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