How to Buy Stellar Lumens in 2023

Khashayar Abbasi

Last updated 16th Feb 2023

Disclosure

Stellar Lumens (XLM) is a payment cryptocurrency that facilitates transactions at ultra-low fees. It’s often compared to XRP due to its similarities. However, XLM is targeted more at individuals while Ripple is focused on banks.

Once you have determined Stellar Lumens is worth adding to your portfolio, you’ll need to use a crypto platform to buy the coin. The best options are cryptocurrency exchanges and brokers, which have straightforward trading software, excellent security, and multiple trading pairs. This guide explores where to buy Stellar Lumens at low fees, along with the best wallets for short or long-term storage.

Best Exchanges to Buy Stellar Lumens

1

Minimum Deposit

$50

Exclusive Promotion

User Score

10

More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities

Buy crypto, or trade cryptocurrencies via CFDs

Start Trading

Compare Brokers

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

2

Minimum Deposit

$200

Exclusive Promotion

User Score

9

Variety of Crypto CFDs and Crypto Indices

In trading crypto CFDs you do not own or have any rights to the underlying assets

Fast execution speed

Start Trading

Compare Brokers

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.8% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

3

Minimum Deposit

$100

Exclusive Promotion

User Score

9

Easy to use tool

High profit potential

Offers Phone Support

Start Trading

Compare Brokers

Crypto assets are highly volatile and largely unregulated. There is no guarantee that any crypto asset will have at any time in the future certain value (if any) or market liquidity. Crypto assets are at risk of losing substantial (or all) value within a short time period.

4

Minimum Deposit

$50

Exclusive Promotion

User Score

9

Trade and invest in over 25 cryptocurrencies

Extremely simple user interface

Over 68 million customers

Start Trading

Compare Brokers

5

Minimum Deposit

$1

Exclusive Promotion

User Score

8

Funds protected up to £85,000

24/7 support

Buy stocks and ETFs with zero commission

Start Trading

Compare Brokers

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

eToro - The Overall Best Way to Buy XLM

eToro is fantastic for its ease of use, making it the overall best option for beginners. This broker provides everything a trader needs, such as demo accounts, copy trading, and crypto news with analytics. Also, eToro has integrated popular payment methods for convenience, like PayPal, Skrill, Neteller, and more.

Best Platforms to Buy and Trade Stellar Lumens

The following section will dive into the overall best platforms for trading Stellar Lumens.

Buy Stellar Lumens Using Cryptocurrency Brokers - The Easiest Way

Brokers offer the best process for buying Stellar Lumens thanks to their easily understandable trading interfaces. Underneath, you’ll find our top 3 picks along with mini-reviews.

eToro

Beginners will find eToro the easiest to use because it doesn’t feature complicated trading software. Also, the broker provides a demo account, so you can test the service before using it.

Coinbase

Coinbase is another excellent cryptocurrency exchange focused on making cryptocurrency accessible to beginners. The service provides educational resources to the users, a wallet for storing XLM, and many other features.

Binance

Binance provides a wide range of services such as spot trading, instant buy with debit/credit card, and Simple Earn product for XLM. Moreover, this exchange has one of the best and cheapest fee structures which can be further reduced by 25% by using BNB (native token) to pay the fees.

Buy Stellar Lumens on eToro: Step-By-Step Guide

Step 1: Open eToro

Go to the official eToro website and press the “Start Investing” button at the center of the screen. Now type in your username, email, and password, and accept the terms & conditions. Next, access your dashboard and verify your email.

Step 2: Verify Your Identity

Provide eToro with your personal information like your name, surname, and physical address. Then verify your identity by uploading a picture of your passport, driver’s license, or ID card.

Step 3: Deposit

Multiple deposit methods are available to fund your eToro account. Select the payment method of your choice and proceed to the next steps.

Step 4: Buy XLM

Head to the cryptocurrency section and select the crypto you want to buy (XLM in this example). Click “Trade” and input how much fiat you want to convert to XLM or any other crypto of your choice. Finally, press “Open Trade” to acquire the crypto.

Step 5: Send Stellar Lumens to a Wallet

To send XLM to your wallet go to the cryptocurrency tab and choose the cryptocurrency you want to transfer. Then click “Transfer to Wallet” and the specified amount to send.

Best Wallet to Buy and Store Stellar Lumens - XLM Wallet Comparison

Once you invest in XLM, you’ll want to store it in your cryptocurrency wallet for enhanced protection. Exchanges can be targets for hackers, making your funds vulnerable if they are not insured. Therefore, using a wallet, especially a hardware wallet is ideal as only you have the access to the keys for accessing your crypto funds. Remember, not your keys, not your crypto. Here are the overall best options for storing Stellar Lumens.

How to Sell Stellar Lumens in 2023 Using eToro?

Step 1: Log in

Log in to your eToro account and click on Portfolio from the left. This will display the details about your cryptocurrency holdings.

Step 2: Click on the Red Cross Button

Click on the cryptocurrency from the portfolio you want to sell and click on the red cross button at the far right.

Step 3: Click on the Close Trade Button.

A pop-up will appear displaying the details on live rates. Review the details and click on the Close Trade button.

Buy Stellar Lumens Using CFDs - Best for Trading

If you do not require ownership of your XLM coins, you may want to invest via CFDs. These derivative products issued by cryptocurrency brokers let you speculate on the future value of Stellar Lumens. However, In the United States, CFD trading is considered to be an illegal activity. This can be attributed to CFD's status as an over-the-counter (OTC) product. As a result, CFD trading systems are not available in the United States. The opening of a CFD account on local and international platforms is prohibited by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Best Apps to Buy Stellar Lumens - Most Convenient

Most exchanges have downloadable apps that let you trade and manage your account without being restricted to a physical location. Below are the overall best smartphone apps available on iOS and Android devices.

Buy Stellar Lumens on eToro App: Step-By-Step Guide

Step 1: Create an Account

Sign up for a new account with eToro and provide your personal details.

Step 2: Verification

Next, verify your information so you can begin trading DOT.

Step 3: Deposit Money

Then deposit money into your account using one of the multiple payment methods.

Step 4: Buy XLM

Open the cryptocurrency section and find XLM. Click on the crypto, and a buy page will prompt up. Now input the amount you want to purchase and click “Open Trade” to finish.

Buy Stellar Lumens On eToro Now

Buy Stellar Lumens With Exchanges - The Cheapest Way

Binance, KuCoin, and Kraken provide an excellent trading experience at low fees. Also, paying with BNB or KCS on their main platforms will lead to discounts on fees.

Buy Stellar Lumens on Binance: Step-by-Step Guide

Step 1: Open Binance and Register

Go to the Binance homepage and press the register button at the top. Then provide your email and a password. Next, verify your email address and provide Binance with information about yourself. Then verify your identity by uploading a picture of your government-issued document.

Step 2: Deposit

Now, deposit funds into Binance using your preferred payment method.

Step 3: Open the Trading Interface

Next, open the trading interface and search for XLM. Then click the relevant trading pair to the currency you’ve deposited.

Step 4: Complete the Trade

Finally, fill out the box at the centre of the screen. Choose the order type and the amount of money you want to exchange, then click the “Buy” button to complete the transaction.

Step 5: Confirm the Transaction Using the Blockchain Explorer

Blockchain technology is extremely transparent, and you can view all historical transactions. Websites like Etherscan, Polkascan, and BscScan are great for seeing the progress of your transfers. To track the XLM transactions, you can use Stellarscan.

Buy Stellar Lumens On Binance

Buy Stellar Lumens Using Decentralized Exchanges (DEX) - The New Way

Decentralized exchanges allow users to buy and sell cryptocurrencies like Stellar Lumens without revealing their identity. To use the DEX, you will need to connect your cryptocurrency wallet loaded with some funds. Underneath are the overall best DEXs for trading XLM.

Buy Stellar Lumens on PancakeSwap: Step-By-Step Guide

You cannot buy Stellar Lumens on PancakeSwap because this DEX has been designed and built on top of the BNB Smart Chain to facilitate the BEP-20 transactions. On the other side, Stellar leverages its own network for storing and movement of funds.

Can You Buy Stellar Lumens Using P2P Services?

There are no P2P platforms that are trustworthy or provide a reliable service for Stellar Lumens.

Can You Buy Stellar Lumens Using Other Trading Platforms?

Here you can analyze which platforms offer Stellar Lumens and the expected fee rates. Also, you can read our in-depth reviews to learn more about the exchange.

What Is the Difference Between Buying Stellar Lumens and CFDs?

When investing in cryptocurrencies, you have a decision to make - buy real cryptocurrency or CFDs. Buying from an exchange means you’ll purchase coins you can withdraw, spend, and store in a wallet. On the other hand, brokers issuing CFDs often are easier to use, making them ideal for beginners. However, these are derivative products, so you will not convey ownership of XLM coins. Therefore, you will not have the option to withdraw XLM CFDs or spend them on products or services.

However, CFD trading is treated as an illegal event in the United States. This can be traced back to the fact that CFD is an over-the-counter (OTC) product. Hence, you cannot find platforms in the United States offering CFD trading. SEC (Securities and Exchange Commission) and the Commodity Futures Trading Commission (CFTC) prohibit the citizens and residents of the United States to open a CFD account on domestic and foreign applications.

Best Ways to Buy Stellar Lumens

This section highlights which payment methods are best for certain cryptocurrency platforms.

Buy Stellar Lumens Instantly With Online Banking - The Fastest Way

The best platform for online banking is Binance, as deposits are fast and secure. Moreover, this exchange will save your information, making future deposits convenient.

Buy Stellar Lumens With PayPal - The Safest Way

eToro has integrated PayPal as a deposit method on their platform. This broker is regulated by CySEC, making it trustworthy and safe to use.

Buy Stellar Lumens Using a Debit Card - The Cheapest Way

To buy XLM cheaply with a debit card, you’ll want to use it as a deposit method on Binance and spot trade. Avoid using the instant buy section because this will encounter significantly higher fees.

Buy Stellar Lumens Using a Credit Card

Crypto.com is one of the best options for buying Stellar Lumens with a credit card. This platform will also save your details to make future payments easier.

Best Platforms to Buy Stellar Lumens in Other Countries

Here, you can explore which platforms are the best to use in different countries. Also, you’ll find out the provider type along with the starting fee rates.

What Are the Fees When Buying Stellar Lumens?

These are the fees you’ll pay for buying $1,000 worth of Stellar Lumens and holding for 30 days on the following cryptocurrency platforms:

Cheapest Way to Buy XLM

Below you’ll find the cheapest exchanges that offer multiple trading pairs for XLM. These platforms use a tier system that calculates fees based on your 30-day trading volume.

Fastest Way to Buy XLM

You can quickly buy XLM using the instant buy section exchanges provide. Alternatively, eToro is the best choice for speed and reliability if you prefer buying CFDs.

How to Buy Stellar Lumens Anonymously?

Here we’ll outline how to buy Stellar Lumens anonymously or without registration.

How to Buy Stellar Lumens Without Registration or KYC?

The best method of acquiring XLM without KYC is by using a decentralized exchange. These are dApps built on the blockchain that use liquidity pools to facilitate trades. The top Stellar Lumens DEXs are StellarX and Lumenswap.

How to Buy Stellar Lumens Without Verification?

You can sign up to KuCoin and deposit cryptocurrencies to swap for XLM without verifying your identity. However, this platform is not licensed to operate in the United States. You can navigate to the decentralized exchanges designed for the Stellar Lumen ecosystem.

Can You Buy Stellar Lumens Offline?

No, you cannot buy Stellar Lumens (XLM) offline like with Bitcoin since there are no trustworthy XLM paper wallet generators.

Should You Buy or Sell Stellar Lumens?

Ultimately, buying or selling Stellar Lumens should be based on your analysis and research. However, to help you decide, here are some quick pros and cons of XLM.

Do You Need to Pay Tax on Stellar Lumens in the US?

Those living in the US must pay taxes on crypto profits. The percentage you’ll pay is based on several factors, which vary between states. Therefore, for the most accurate information, you should visit your state’s government websites that expand more on this topic.

Stellar Lumens Price Prediction: What Is the Future of XLM?

Now we’ll discuss what the potential future of XLM could be and the main factors impacting its price. Here’s how the coin is doing today:

What Impacts Stellar Lumens Price?

These are the main things that can swing XLM’s value:

• Partnerships: Stellar Lumens acquiring new partnerships is bullish news and will increase its value.

• Demand: Increased demand will boost XLM’s value as more investors are willing to pay extra for each coin.

• Market Performance: One of the most important factors is how the market is currently performing. Bull markets are great for growth, and we can expect to see prices rise as more money flows into altcoins. However, this is the complete opposite during bear markets since investors deem crypto too risky to buy during this period.

• Cryptocurrency Adoption: Stellar Lumens is an excellent payment cryptocurrency because of its ultra-low fees and fast transfer times. Therefore, businesses are more inclined to add this coin as a payment option due to its convenience. As a result, XLM’s price increases as it gains more widespread adoption.

• Marketing: Promotions and advertisements will help Stellar Lumens by making it more visible to potential investors. Also, a solid social media presence is great since those interested in XLM can see new partnerships and developments.

Historical Stellar Lumens Course: Major Milestones in the History of Stellar Lumens

This graph shows XLM’s historical price milestones since its creation in 2014.

Current Price Prediction News

Here are some price prediction articles you may find helpful for deciding if XLM is worth holding short or long-term.

Other Ways to Make Money With Stellar Lumens in 2023

Here, you can learn about various ways to make money with Stellar Lumens.

Stake Stellar Lumens Using DeFi or CeFi

Staking is not available for Stellar Lumens.

Buy Stellar Lumens Using ETPs (ETFs & ETNs)

Exchange-traded products are securities traded on the stock exchange. 21shares provides Stellar Lumens ETPs under the ticker “AXLM”.

Buy and Sell NFTs Using XLM

Non-fungible tokens allow ownership over digital assets stored on the blockchain. You can buy XLM NFTs in the StellarNFT marketplace.

Buy Stocks and Shares in Companies Owning Stellar Lumens

IBM, one of the technology giants has partnered with Stellar. You can buy the stock of IBM from eToro.

Stellar Lumens Mining

Stellar Lumens cannot be mined.

Use Stellar Lumens Faucets

Coinbase offers the best experience for faucets as you can see beforehand the expected rewards for completing a course or task.

What Cryptocurrencies Are Similar to Stellar Lumens?

Here are similar payment cryptocurrencies worth researching:

Is It Still Worth Investing in Stellar Lumens or Not?

We believe that Stellar Lumens is worth holding because it has many use cases and has secured multiple partnerships. However, altcoins like XLM are highly risky assets. Therefore, you should do your own in-depth research to determine if it's worth buying. Note: Not a Financial Advice (NFA).

FAQs

Find Out More About Smart Contract Tokens