A beginner’s guide to buying Stellar Lumens

stellar lumens

Stellar provides an international, decentralized blockchain payment network that allows fast and cost-effective transactions. The network was created to make the transfer of currencies and international payments painless and swift. Amazingly, it takes only about three seconds to make confirmations, and thousands of transactions are carried out every second. Here is a basic guide to buying Stellar Lumens.

The native token of the network is known as lumens. These tokens have been pre-mined and airdropped to individuals, the total amount of coins in circulation are about 20 billion. That is a very large number, compared to the maximum number of Bitcoin which is 21 million.

Steps for Buying Stellar Lumens

Step One: Get a Stellar Wallet

In the present competitive crypto market, Stellar is receiving support from the market; there’s no doubt about that. The coin of Stellar has made the list of the top ten cryptocurrencies on Coinmarketcap, and it has recorded more than 10 billion USD in investment. This currency has a lot of support, but the wallet support needs improvement. Listed below are the various types of Stellar wallet:

  • Stellar hardware wallets
  • Stellar desktop wallets
  • Stellar mobile wallets

Step Two: Buying Stellar Lumens

The ticker for lumens is XLM, and the previous ticker was STR. You might still find the previous ticker on some exchanges, as they might not have implemented the change yet. eToro’s Stellar trading platform is the easiest way to trade Stellar. You don’t really need a Stellar wallet in order to use the platform of eToro. eToro provides you with a platform to sell and/or buy Lumens with fiat currency. Other altcoin exchanges you can trust include:

  • Binance
  • Bittrex
  • Poloniex
  • Kraken

Step Three: Withdraw Your Lumens

As usual, whenever you buy Stellar Lumens from any exchange platform, make sure you withdraw the Lumens to your Stellar wallet. Leaving your Lumens on an exchange platform makes you vulnerable to hacks, insolvency, and theft.

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