Where and How To Buy Stellar Lumens (XLM)?
Launched in 2017, Stellar had an impressive pedigree from the very start.
The Stellar blockchain was co-founded by Jed McCaleb, founder of the Mt. Gox cryptocurrency exchange and co-founder of Ripple. McCaleb’s partner in the launch was Joyce Kim. A nonprofit group, the Stellar Development Foundation, was created with the assistance of Stripe CEO Patrick Collison.
Stellar was intended to facilitate low-cost payments and other money transfers across international borders.
Included in Stellar’s plans was the 700 billion euro remittance market, in which individuals relocate to find work in another country and send money back to family members. Blockchain technology could transform remittances from the slow and expensive present to a fast, inexpensive future.
Key to the Stellar ecosystem is the Stellar Lumen (XLM), the native cryptocurrency.
Stellar has partnered with banks and payment processors in India, Africa, the South Pacific, and elsewhere. Stellar is an open-source protocol with the source code hosted on GitHub.
The Stellar protocol allows fiat-to-crypto, crypto-to-fiat, crypto-to-crypto, and fiat-to-fiat exchanges.
Here’s a quick overview and a few tips on where and how to buy Stellar Lumens (XLM).
Where to buy Stellar (XLM)
There is no dearth of internet services and crypto platforms willing to sell Stellar. In fact, it is precisely this large variety of options that makes choosing a service or website difficult when you are figuring out how to buy Stellar.
Most exchanges, including decentralized exchanges, or DEXs, provide services to the same relatively small audience of experienced crypto experts who are comfortable selecting a hardware or software wallet, securing hexadecimal cryptographic keys, and interacting with the blockchain directly.
As time has passed, more and more newcomers to the blockchain world are interested in buying XLM and other cryptocurrencies. The expert-only platforms don’t provide the security, support, or services that would help those users succeed.
For most users, none of those platforms provides a credible answer to the question of where to buy Stellar. If you don’t speak Java as your native language, you’d be better off creating an account at a custodial crypto platform like Kriptomat.
Custodial platforms are easy to use. They provide the current trading Stellar price and a chance to make a purchase. If you are new to the blockchain world and you would like to buy XLM coins, Kriptomat is a great choice.
You will quickly learn that creating an account is a bit more complicated than defining your user name and password. One way you know that you are working with a reputable crypto exchange is that it will require you to verify your identity by providing an electronic copy of your government-issued passport or other ID. These Know Your Customer (KYC) regulations are required by every business that complies with the anti-money laundering provisions of the EU’s GDPR.
Identity verification can take days at some sites. At Kriptomat, the simple KYC procedures can be completed in minutes.
You start by typing your address and uploading a high-resolution image of your passport (or, in some countries, driving license). Kriptomat guides you through the creation of a selfie – a photograph of you that matches the photo on your government-issued ID. In most cases, identity is verified within a few minutes.
How to buy Stellar
Once you’ve created and verified your account, you’re ready to focus on the next steps in how to buy XLM.
The fastest and easiest way to buy Stellar (XLM) is to use a Visa or Mastercard. Select Buy from the menu and follow the prompts – you can purchase XLM in seconds and add it to your Kriptomat wallet.
If you prefer, you can transfer your investing fund to Kriptomat via bank transfer or with a cash-transfer service like Skrill or Neteller. Kriptomat accepts deposits in more than a dozen of the most widely used European fiat currencies. Once your deposit shows up in your account, you can follow the menus and make a purchase.
That’s all you need to know. You are now an expert at the fine art of how to buy XLM.
The most important decision you make is choosing where to buy Stellar. As you evaluate crypto platforms, be sure to take licensing and regulation, security certification, investment tools, ease of use, and customer support into account.
You don’t get any physical Stellar coins when you buy XLM online. The coins you purchase are transferred to your electronic address on the blockchain. Kriptomat handles all the details of public key encryption to ensure that your crypto is transferred promptly and remains secure.
Founded in 2018, Kriptomat revolutionized the cryptocurrency world with the introduction of the simplest platform in Europe. Kriptomat makes digital finance so simple that everybody everywhere can access the freedom, fairness, and fulfillment that crypto represents. Hundreds of thousands of customers across Europe and in 120 countries worldwide trust Kriptomat when they buy, sell, swap, earn, share, and invest in crypto.