Last update: Jun 6, 2022

How to Buy Stellar Lumens (XLM)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Stellar Lumens. Depending on your country, you’ll have various crypto trading platforms to choose from.

In this guide, we not only cover the top 3 global crypto exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Stellar lumens

How to Buy Stellar Lumens – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Stellar Lumens of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency exchanges.

4. Buy Stellar Lumens

Now that you have what you need to buy Stellar Lumens, head over to the market or buy section of the cryptocurrency trading platform and buy some XLM.

If the crypto exchange doesn’t have any Stellar Lumens on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Stellar Lumens first), and trade your Ethereum for Stellar Lumens.

Where to Buy Stellar Lumens (XLM)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Stellar Lumens

  1. Sign into the crypto trading platform where you bought Stellar Lumens.
  2. Move your Stellar Lumens to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Stellar Lumens.

 

Crypto trading

How to Buy Stellar Lumens (XLM) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Stellar Lumens in Australia, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Stellar Lumens if it’s available. If the exchange doesn’t have Stellar Lumens. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Stellar Lumens), and trade your ETH for Stellar Lumens.

Also, take a look at our analysis of the best bitcoin trading platforms in Australia if you’re curious to know more about the exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Stellar Lumens (XLM) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Stellar Lumens in Canada, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Stellar Lumens if it’s available. If the exchange doesn’t have Stellar Lumens. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Stellar Lumens), and trade your ETH for Stellar Lumens.

Or, if you’d like to learn more about the exchanges we recommend, look at our list of the most secure crypto exchanges in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Stellar Lumens (XLM) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Stellar Lumens in the UK, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Stellar Lumens if it’s available. If the exchange doesn’t have Stellar Lumens. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Stellar Lumens), and trade your ETH for Stellar Lumens.

It’s also possible to check out our comparison of the best crypto trading platforms in the UK If you’re interested in learning more about which ones we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Stellar Lumens? XLM Rundown

Stellar (XLM), a peer to-peer ( P2P) network that was created by the Stellar Development Foundation in 2014. Officially launched in 2015, the network aims to connect the financial systems of the world and provide a protocol for financial institutions and payment providers. It is designed to transfer financial resources quickly and reliably, at minimal cost. Stellar connects people, banks and payment processors. It allows users to create and send multiple types of cryptocurrency.

The network's native digital currency XLM (or Lumens) is the foundation. XLM is used as an intermediary currency and to pay transaction fees. It works like this: The protocol converts money quickly into XLM and then into the requested currency.

The Stellar payment protocol uses distributed ledger technology, an open-source development that is community-owned and distributed within the community. Stellar's crypto asset helps cross-border transactions by overcoming the difficulties of slow processes and high fees. XLM is more concerned with individuals transferring money than it is institutions. Stellar allows people to send money quickly and at a low cost around the globe.

Stellar is a decentralized marketplace and exchange that also has an order book that tracks Stellar assets ownership. Platform users have the ability to manage buy/sell orders and select their preferred assets for settlements. XLM, a built-in cryptocurrency that reduces transaction fees, is available.

The network is secure. To be able to stay active on the network, XLM holders need at least one token. This nuance serves a global purpose - to execute network transactions efficiently and at minimal time. Lumens provides protection against flood attacks, making microtransactions too costly for hackers without any chance of profit. This keeps Stellar Network secure from serious threats.

Stellar's target audience is the people of developing countries. They are ordinary users who have access to the global economy via simple, fast and cheap transactions. Stellar Network makes extensive usage of Lumens to create live convection and to send cash in multiple currency. The currency can be sent from one peer while the recipient can receive it in another currency. This feature is useful when transactions are made between currencies that do not have widely traded pairs.

Stellar's multi-currency transaction support is another competitive advantage. The ability to perform cross-currency operations has only improved the efficiency of foreign operations. Users also enjoy a high level of stability and low transaction costs.

Anchors, a development that connects different currencies to the network, powers this functionality. It simplifies exchanges and speeds up the entire process.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.