Stellar is a decentralized blockchain network intended to be a faster, cheaper and more efficient blockchain system for storing and moving cryptocurrencies internationally, and its native token is known as Lumen or by its ticker XLM. When talking about how to buy Lumen coins, some combine both words together and refer to buying Stellar Lumens or just buying XLM.
In this guide we cover where to buy Stellar Lumens, how they work and the background of the Stellar project.
How to Buy Stellar Lumens – Quick Steps
If you want to buy cryptocurrency including Lumen coins with low fees, you can do so via the eToro platform for just $10 on a spread-only basis. USD deposits are free – which means you won’t have to pay any extra expenses like card processing costs when you invest in Stellar Lumens.
Follow the guide below and invest in Stellar Lumens in a few minutes:
- ✅ Step 1: Open an eToro Account – When you first open an account with eToro by visiting eToro.com, be prepared to provide some personal information such as your name and home address. Verify your account by uploading a copy of your ID.
- ? Step 2: Deposit Funds – eToro is a world-renowned broker that offers an extensive selection of trading markets and instruments. All of these without the need for fees. US and UK traders can open their accounts with just $10. Choose from debit or credit card payments or Paypal to put money into your eToro wallet. You can also opt for a bank wire transfer.
- ? Step 3: Search for XLM – You can go straight to the relevant investment page by searching for either ‘Stellar Lumens’ or ‘XLM’ and click ‘Trade’.
- ? Step 4: Buy XLM crypto – Choose how much you want to invest in XLM with, starting from $10. Click ‘Open Trade’ and confirm your order.
For a more detailed explanation of how to invest in Lumens coin – see below.
Where to Buy Lumens Coin
If you want to invest in Stellar, first make sure that the crypto exchange you use has listed the XLM crypto asset. There are dozens of options out there for this cryptocurrency.
But the best place to invest in Lumens (XLM) is through one of the cryptocurrency platforms that we have reviewed in our guide.
1. eToro – Overall Best Place to Buy Stellar Lumens
The simplest place to buy Stellar Lumens is eToro – an online broker that was
first launched in 2007. You can purchase XLM on a spread-only basis. This means instead of paying conventional commissions your fee amounts to the difference between buying and selling prices at the time an order goes through.
They also offer discounts for high-volume traders as well. If you buy Bitcoin, it has 0.75% commission. This is a better deal compared to many platforms charging higher spreads.
eToro is one of the most popular crypto platforms as it is regulated by the FCA, SEC, ASIC, CySec, and registered with FINRA.
In addition, clients living outside America will not pay any exchange fees when funding their accounts via USD transfers or credit card purchases. This includes debit/ATM cards as well ACH transactions online banking etc. The minimum deposit on eToro in the US and UK is just $10 or the GBP equivalent.
eToro is chosen by many investors for cryptocurrency trades because the company supports over 60 digital assets in addition to Lumens (XLM). Some of these include Bitcoin, Cardano, Litecoin, Dogecoin, Shiba Inu, and Ripple (XRP) – which can be bought at low spreads. eToro also offers traditional asset classes such as the US and foreign stocks, ETFs, forex, indices, etc.
If you’re interested in diversifying your portfolio and aren’t sure how much XLM to buy or a good price to buy XLM at, eToro has Smart Portfolios, such as its CryptoPortfolio. That allows you to invest in more than a dozen of the best altcoins and tokens through one investment strategy. eToro charges no management fees for its copy portfolio or copy trading features.
eToro is also the best crypto staking platforms, currently paying out an APY for holding ETH, ADA or TRX.
Cryptoassets are a highly volatile unregulated investment product.
2. Crypto.com – Easy Way to Buy Lumens Coin With a Debit Card
Crypto.com is another popular online cryptocurrency exchange that offers customers
the opportunity to invest in crypto assets like XLM through its simple yet cost-effective approach.
The platform strives towards giving users an easy way of buying Lumens coins by simply registering their personal information after signing up, verifying identity and completing some other basic tasks like depositing, etc. Once all these steps are completed, then you can purchase XLM tokens using their debit cards too.
Lumens are the currency of choice on Crypto.com, which offers a convenient way to invest with both Visa and MasterCard accepted payments. There are no fees for the initial 30 days after opening an account.
In addition to this, you can find over 250+ other digital tokens available in three different categories: small/mid-cap coins, large-cap coins; all the while being able to access the platform from anywhere via desktop browser or the mobile app.
Crypto.com offers a wide spectrum of other digital asset products, including the pre-paid debit card backed by Visa that allows you to buy products and services online or in-store as well as withdraw cash from an ATM. They also offer interest on idle cryptocurrency investments through their tool “Crypto Earn.”
Lastly, there are Crypto Wallets for over 100+ cryptocurrencies which support mobile device users with easy access no matter where they go. Crypto.com also has an NFT marketplace allowing you to invest in NFTs that you can buy with cryptos like ETH.
Cryptoassets are a highly volatile unregulated investment product.
3. Coinbase – User-Friendly Way to Buy Lumens Coin Today
If you’re looking for an easy-to-use cryptocurrency platform that allows
buyers and sellers from all over the world, Coinbase is a good option. The company was founded back in 2012 by three ex-colleagues who had trouble finding a bank account due to their nonconforming status as startups/small businesses owners.
It has since become one of America and the world’s most trusted cryptocurrency exchanges, with over 90 million clients on its books. Although customer support can be slow it overall has a good reputation for buying cryptos including the option to buy Stellar Lumens directly with fiat currency. Join via the links on this site for a $10 Coinbase bonus.
To invest in Lumens (XLM) coin at Coinbase, register an account and upload ID. Buying XLM with a Visa or MasterCard has high fees of 3.99%. You can also transfer US dollars via ACH to buy XLM with a bank account for lower fees. They are even lower if using Coinbase Pro – 0.5% for a limit order.
Coinbase is also a suitable platform to invest in other digital tokens aside from Lumens (XLM) since it offers a wide range of assets and has a crypto wallet that also doubles as an NFT wallet.
If you’re actively day trading crypto you might prefer the 0.1% fees on Binance or fee-free copytrading on eToro. Many investors open accounts on several crypto exchanges.
Cryptoassets are a highly volatile unregulated investment product.
4. Binance – Buy Lumens With Crypto at Just 0.10% Per Trade
There’s a lot of buzz around Stellar Lumens and if you’re looking for another way to buy XLM it’s also listed at Binance exchange. This top-tier platform facilitates over 1,400,000 transactions per second. When trading against supported digital assets – such as Bitcoin Ethereum, or even USDT – all that’ll cost is just 0.1% or 0.075% if using its native token BNB to pay fees.
For deposits, Binance charges 3.5% when using debit or credit cards and $15 for bank wire transfers. But Binance does allow you to make deposits via ACH free of charge. Take note of the withdrawing fees that Binance comes with. It varies according to the withdrawal method and crypto.
Binance operates in the US by partnering with Binance.US. The website provides access to a wide range of digital currencies, including large-cap blockchain assets like Bitcoin and Ethereum as well less as liquid ERC20 tokens.
Irrespective of how you choose to pay for your Lumens (XLM) investment, they offer a range of storage options that include their very own Trust Wallet app. This also gives users PancakeSwap privilege on the decentralized exchange market leader Coinbase Pro.
Cryptoassets are a highly volatile unregulated investment product.
What is Lumens (XLM)?
The Stellar network was created in 2014 with the goal of increasing financial inclusion. It quickly altered its focus to assist banks in connecting with each other using blockchain technology.
Lumens act as a bridge making cross-border asset trading more affordable, putting pressure on conventional payment providers who demand exorbitant prices for similar services.
Decentralization is the key to understanding blockchain technology, and Stellar Lumens centres its use case around being decentralized, like many cryptocurrencies.
How Stellar Lumens work
The network relies on a worldwide coalition of people who maintain their decentralized servers for this distributed ledger which keeps track of everything that occurs within its borders – transactions between users as well as any updates made by entities running applications inside the system.
With the Stellar Lumens system, you can send money across borders more quickly and easily than ever before. In fact, it works similarly to PayPal and once dollars have been deposited into an anchor (the equivalent of opening up a bank account), they will be kept safe.
Is Lumens (XLM) a Good Investment?
Cryptocurrencies are the new thing in finance, with high returns that have been unmatched by any other type of investment. In recent months as Bitcoin and Ethereum start to stabilize and move back up, it has led many people towards investing in altcoins. They see the greater potential for profit as altcoins tend to have more explosive rallies.
Cryptocurrencies are attracting more investors day by day, but which cryptocurrency should you buy? Only a small percentage of coins succeed long-term. You’ll need to do some homework and be able to spot those coins whose use cases make them valuable enough for investment, if you want to put your money in these more ‘risk on’ assets.
Cheaper and Faster Transaction Method
Lumens are the way to go for those who need their transactions fast and cheap. They can be swapped instantly with anyone, anywhere in just 3-5 seconds.
This makes it possible that this form of currency will work best if you’re located somewhere without access or an interrupted financial system like Eastern Europe where people haven’t been able to compete effectively against the Western offerings. The reason is that they don’t have any big banks operating there yet. This is where Stellar comes in.
- With Stellar Lumens, you won’t have to pay fees of 10% or 20%. You’ll only pay around 0.00001 Lumens for sending money across borders which is less than $01.
- The launch of their official exchange is another advantage. Investors can now trade cryptocurrencies like Bitcoin or Ethereum with Lumens.
- You have access to more currencies because there are no fees when exchanging between different types of coins on this platform.
- You may also send EUR from one person’s account into another via Tempo Me — all without having conversion costs associated with sending money across borders using traditional methods.
XLM is a cost-effective currency that offers easy transactions. Lumens also has an accessible platform with decentralized features to make it great for everyone. Its database is simpler than those using Proof-of-Work.
XLM in the South Pacific
Lumens are especially valuable in the South Pacific, where 60% of cross-border payments will be handled by it. There’s a lot going on with this cryptocurrency that you may not know about yet.
For one thing, there is an experiment happening to see if Lumen can become submerged into networks like Ethereum or Bitcoin so they’ll have more utility than just being used exclusively as digital money.
Energy with Lumens
The future of energy is now open to all with Irene Energy’s new crowd sale on the Stellar Lumens’ internal exchange. The company has harnessed artificial intelligence and blockchain technology in order for customers to get to pick the exact producer of oil while choosing which gas station should provide their fuel needs.
Stellar Lumens Price Chart
The XLM price today is currently around $0.24. As can be seen from the Stellar price chart XLM has had two bull cycles.
There is some concern that since the second bull run was smaller than the first, that was an ‘echo bubble’ and that this price action represents how the project struggled to move up in valuation. Alternatively it could be forming a cup and handle pattern which is a bullish pattern.
XLM Price Prediction
XLM may have found a bottom in 2022 of $0.16 as well since it has put in a strong 50% bounce in less than a month from that level, to now be trading back at $0.24.
Lumens price chart from 2021 – 2022 on Coinbase
There is speculation that all decentralized finance related altcoins will continue to rise in 2022, there have been large pumps in recent days including a 30% move in a single day on AAVE.
The XLM price could move up to retest its ATH, with improvements made on their network such as the Horizon 2.0 upgrade which was implemented as part of Stellar’s roadmap in 2022. That may depend on Bitcoin and Ethereum first setting new highs though, before money trickles down to smaller marketcap altcoins.
Cryptoassets are a highly volatile unregulated investment product.
Ways of Buying Lumens (XLM)
The best way to buy XLM largely depends on your chosen payment method. When using one of the top-rated brokers that we have reviewed, you can choose payment options from the ones listed below:
Buy Lumens With Credit Card or Debit Card
You can invest in Lumens with a credit or debit card through eToro. The investment process takes place immediately after you open your account and choose to purchase tokens from within the platform. It is even hassle-free for users who are not tech-savvy.
Coinbase charges a hefty amount for credit card payments that are reflected when you checkout and Crypto.com permits debit cards at 2.99%. eToro offers USD-backed deposits with no fees whatsoever.
Buy Lumens (XLM) With Paypal
Lumens are a cryptocurrency that can be bought and sold on many exchanges. Paypal is support by eToro, one of the few cryptocurrency platforms to do so.
Buy Lumens (XLM) Without KYC Verification
If you’re hoping to invest in XLM without going through a KYC process, you can use a smaller web-based exchange such as Changelly. For the larger regulated exchanges, KYC would be necessary, although with that comes greater security when holding onto your crypto coins long-term.
Best Lumens (XLM) Wallet
Lumens (XLM) can be stored in different forms, including mobile apps and desktop software. You should decide your Lumen storage devices according to what’s best suited for your needs as an investor. These wallets give you full control over your tokens and will be able to use them as they see fit, with no one else being aware of them.
The eToro Money crypto wallet is a suitable options as it has a user-friendly interface and a smartphone app. The eToro wallet has been built with inexperienced crypto investors in mind. In case you forget your password or misplace private keys, they can help restore access for free.
Risks of Buying XLM
Stellar has been around since 2014 and began to gain widespread attention during the 2017 crypto bull run, reaching its all-time high around $0.90 in January 2018 around the time of the Bitcoin crash from $20k. Some might argue as it hasn’t retested that ATH in over four years, it hasn’t made much progress.
Volatility and Uncertainty
All cryptocurrencies offer a high level of risk and uncertainty. As such, experts advise that you only invest what funds are able to afford the loss should things go wrong with your investment.
New altcoins could emerge that do what Stellar does, only better – some would argue there are already other decentralized blockchain projects with a similar use case.
It does not have the ability to mine due to the lack of a PoW system. It has other drawbacks as pointed out by experts. For instance, cryptos like Lumens or others are difficult to be traded outside of countries where cryptocurrency trade has been legalized or regulated by law yet. We do not know what the future of such standings is.
XLM is a hybrid between Bitcoin and Ethereum. There isn’t widespread adoption of this currency for payments just yet due to its lack of acceptance as a payment method among vendors.
High Supply
The uniqueness of Bitcoin lies in its limited supply of 21 million coins, which makes it valuable. It is not like most coins that are made with little intrinsic value and that can be created in unlimited amounts at any time by miners or governments alike.
Bitcoins have a finite amount – making this currency scarce. Stellar Lumens by contrast has a total supply of 50 billion and currently under 25 billion are in the circulating supply. As more are unlocked over time, that tends to deflate the price per XLM token.
How to Buy Lumen Crypto – Tutorial
For those looking for a detailed walkthrough on how to invest in XLM coin, the native token of Stellar, see below.
Step 1: Open an eToro Crypto Account
When you click on the ‘Join Now’ button on eToro website, a form will appear. Fill out this online application with your contact details and full name to get started investing in Lumens (XLM).
Your personal details are required for the creation of an account. eToro keeps this information secure and private.
Step 2: Upload ID
To invest in Lumens coin at eToro with US dollars, you must first get yourself verified. This process happens instantly so you do not have to wait for more than 1-2 minutes.
To prove your identity, upload an official document with your name on it. This could be anything from a government ID card to proofs of residence like bank statements or utility bills – whatever is most current.
Step 3: Deposit Funds
eToro is a great place to invest your money if you want easy access and flexibility. It has a minimum deposit of $10. You can buy coins like Lumens (XLM) with different payment methods, including Visa or MasterCard.
With a variety of deposit options available, you’re guaranteed to find one that suits your needs. Whether it be PayPal or Neteller – no fees will apply as long as the payment type is denominated in US Dollars.
Step 4: Search for Lumens (XLM)
Look for the search box on the eToro dashboard and type ‘Lumens (XLM)’. When you see Lumens (XLM), click on ‘Trade’ and eToro will then popup a list of relevant markets for trading.
Step 5: Buy Lumens (XLM) Coin
eToro allows investors to purchase crypto with fiat currency, so you’ll need them set up first if this is your first time investing via their platform. Once that’s done use the slider and choose how much money would like to deposit into your eToro account. To confirm your investment – click on ‘Open Trade’.
How to Sell XLM
If you bought Stellar Lumens on eToro, then it will also be simple to sell back into cash at any time as the process is similar and supported by the platform.
There’s no need to pay high fees when you want to cash out of your tokens. All that’s required is heading over to the portfolio section and place an order. Alternatively you could open an account at a second exchange such as Binance, send your XLM to yourself on there, and sell them for Tether (USDT).
The advantage of selling into stablecoins like USDT, USDC or BUSD is that it locks in your profits – stablecoins are pegged to the value of the US dollar and don’t fluctuate like other cryptos – but your capital is still on the exchange ready to buy cryptos with if you wish.
Conclusion
XLM has stood the test of time in a sense as it first became popular in 2017 and unlike many altcoin projects has not been abandoned, ‘rugpulled’ or lost 95-99% of its value since its ATH. Its managed to become the #30 ranked token on Coinmarketcap in terms of market capitalization, so has a strong presence in the crypto markets.
The FCA regulated crypto platform eToro is a useful tool to not only buy Lumens with a low minimum deposit of $10 but it’s also a social trading platform where you can network with other investors and research the potential price movements of XLM, copytrading professional investors if you wish, or trading XLM yourself.
Cryptoassets are a highly volatile unregulated investment product.