Where and How to Buy Stellar Lumens? - Ultimate Guide 2022 | Cryptogeek
Jun 11, 2021
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Stellar Lumens or XLM for short first appeared on investors’ radars in 2017 when the currency’s network started offering a way of facilitating international payments and currency transfers and reducing friction and costs.
The network is capable of transferring thousands of transactions per second, which gives it a distinct advantage over many altcoins that are still sluggish in developing a reliable transmittance solution. In this article, we will learn how to buy and store XLM.
- How to Buy Stellar Lumens (XLM) in 2022?
- Get a Stellar Lumens Wallet
- Where to Buy Stellar Lumens 2022?
- FAQ
How to Buy Stellar Lumens (XLM) in 2022?
Before you make your first Stellar Lumens purchase, we recommend following through with our step-by-step guide which will help you anticipate every need that you will have on your journey from locating to buying XLM. Here is a simplified version of what you have to do:
- Purchase a Stellar Wallet
- Get an XLM address
- Check an exchange you trust
- Send the XLM to your crypto address
In just four steps, you will be able to complete a Stellar Lumens transaction and become a fully-acknowledged member of the Stellar network. Let’s start at the beginning – securing Lumens address and wallet.
Get a Stellar Lumens Wallet
Since you are buying Stellar Lumens, you will need a wallet that can hold them. There are several ways to go about this, but we will only explain the most trustworthy options out there. You can pick a hardware wallet, such as Ledger, that will allow you to store your Lumens offline and only connect them to the grid when this is necessary to trade or sell, or just transfer your wallets.
The advantage of a hardware wallet is that it is unhackable much in the same way a notepad containing your passwords cannot be accessed electronically. You can further pick from web wallets that are compatible with desktop and mobile devices. Many of the crypto exchanges we recommend and sell Stellar Lumens offer accompanying wallets for free.
One of the safest and easiest in use app-based wallets for XLM is Freewallet. It allows storing over 150 cryptocurrencies and performing different actions with them but the first and foremost, Freewallet provides a nice balance between safety and convenience.
Where to Buy Stellar Lumens in 2022?
Below, we will list seven trusted and certified platforms that sell XLM today. You will be able to pick the one that offers the most comfortable services, features and is legally allowed to operate in your target jurisdiction. All of the listed crypto exchanges are highly respected and proven options.
#1 Freewallet
Although Freewallet is a wallet and not an exchange, it has an inbuilt currency-converter. Apart from this, there is a "Buy with a card" button on the main display of the app so you can effortlessly purchase Stellar coins and pay with fiat money. You can use a card or Moonpay or Simplex.
Freewallet has existed since 2016. For years, it was among the platforms with high security, the diverse functionality, and intuitive design. It is a convenient wallet in which you can hold around 150 cryptocurrencies that can be sent to other Freewallet users for free.
#2 Binance
Binance prides itself on the fact that it allows you to buy and sell cryptocurrencies in the matter of seconds. The exchange is easy and accessible, offering a comprehensive user experience to new and experienced investors.
The exchange allows you to quickly trade stellar and pick from over 150 currencies. In addition, you can buy Lumens with a bank transfer or a credit card, giving you an additional level of comfort and reliability.
You can further download a dedicated mobile app for your Android and iOS devices and keep track of your XLM in real-time.
#3 Kraken
Kraken gives you a very quick and simple overview of everything you need to know to make informed decisions about your next Stellar Lumens purchase. The exchange uses a detailed historic chart that will carefully track price fluctuations and display market cap and changes over extended periods of time.
The exchange will also provide you with key insights into the currency so as to help you make a better decision. Fees are as low as 0% and you have reliable 24/7 customer support to get in touch with if you need further assistance to complete a transaction.
#4 Poloniex
Poloniex is another viable choice you can explore if you are looking to buy Stellar Lumens quickly and efficiently. The platform supports a variety of over 60 currencies, allowing you to make purchases at low fees.
The exchange supports other worthwhile features, such as margin trading and margin lending, allowing you to benefit from a full suite of financial services. In addition, the platform comes with DEX and IEO launchpad solutions and offers swift service across all available channels, not least in the purchase of XLM.
#5 Bittrex
Bittrex is another reliable platform where you can purchase Stellar Lumens. The commission comes with a flat fee of 0.25% charged on all trades, which is not too steep and allows you to purchase XLM at favorable rates.
Bittrex also offers a high number of altcoins which makes it a great service if you are looking for an alternative to Binance, for example, benefiting from features such as instant buy and sell and an elastic, multistage practices of protecting customer funds.
Bittrex ensures that 80-90% of the total coin pool is kept offline so that it’s never exposed to vulnerabilities from hackers, and additionally uses a 2FA to provide you with extra safety.
#6 Bitfinex
Operating out of Hong Kong, Bitfinex is another reliable exchange you can use to facilitate various transactions involving Stellar Lumens, including buying, selling, and trading the currency. The exchange comes with an advanced trading software, so if you are interested in pursuing crypto trading services a little keener, this may prove a good option for you.
Bitfinex additionally offers margin trading and funding to complement the existing array of services and give you an extra incentive to try purchasing Stellar Lumens there. We were happy with everything, from fees to the flawlessness of transactions, to the fact that customer support is always there and glad to help.
#7 Huobi
Huobi is a leading cryptocurrency exchange that offers one of the widest varieties of assets. At the time of review, Huobi had featured over 372 crypto assets, giving you access to one of the most impressive portfolios available on the market.
The total market cap of all assets was over $100 billion. Right now, Huobi allows you to buy, trade and sell Stellar Lumens through frictionless crypto features that empower anyone, from casual investor to someone who is more serious about their digital currencies.
You will find Huobi to be an excellent place to access cryptocurrencies, benefit from frequent updates and carry out payments with credit cards and other handy payment options.
#8 Coinbase
Coinbase allows you to make purchases through its brokerage service, Coinbase Pro. You will be able to buy the currency efficiently through Coinbase Pro, but the downside is that there may be slightly higher fees.
Regardless of fees, though, Coinbase offers a quick turnout and additionally supports numerous features that can complement your XLM purchases. Coinbase is available in 100+ countries today. The exchange will further show you price updates in real time, give you a snippet of the volume and circulating supply as well as track market cap.
FAQ
Is it worth buying Stellar Lumens in 2022?
Yes. Stellar Lumens are more or less pegged to the value of the Stellar network which is trying to facilitate payment solutions globally.
Is there a guarantee my investment in Stellar Lumens will pay off?
Just like with any other investment, you will be the one to assess this based on facts. The present article only provides you with details about purchasing the currency.
Do you recommend storing Stellar Lumens offline?
Yes. This is by far the safest way to store any cryptocurrency and we believe it’s the safest way to proceed yourself.
The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.
Journalist, cryptocurrency enthusiast. I've being investing in cryptocurrencies since 2016. I hold a Bachelor's degree in civil engineering.
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