Here’s How To Buy Stellar (XLM) Easily – Complete Guide For Buyers

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By Crypto Vibe

How To Buy Stellar (XLM)

Released back in 2014, Stellar is an open network that allows the movement and storage of money. Stellar was launched initially with a focus to reach the “unbanked” individuals and communities across the globe. However, the aim later shifted towards helping financial institutions to connect with one another via blockchain technology. The Stellar network has native tokens called ‘lumens’ that serve as a bridge to make cross-border trade less expensive. If you want to know how to buy Stellar (XLM), we have got you covered with the instructions below.

How to buy Stellar (XLM)

Register On Crypto Exchange

Since XLM is an altcoin, it can not be purchased directly with money. You will first need to buy Bitcoin (BTC) or Ethereum (ETH). To do that, you need to register on any of the credible crypto exchanges like Coinbase.

Buy Cryptocurrency With Cash

Once registered on the crypto exchange, you can buy BTC or ETH by paying cash through bank transfer or using an instant cash deposit (applicable in some countries).

Transfer Cryptocurrency To Altcoin Exchange

You will need to transfer your purchased cryptocurrency to an exchange that allows XLM trading. Some of the popular altcoin exchanges include, Binance, HotBit, and Poloniex. Just like other crypto exchanges, you will need to register on any of these first. While this may be valid, you may need to first check which of the altcoin exchanges allow XLM trading.

Deposit Your Crypto

After registering for altcoin exchange, you will be eligible to exchange your cryptocurrency. However, the exchange policies may vary depending upon the alt exchange you are using. If you want to deposit BTC to an exchange, you will find a string of random numbers saying ‘BTC address’ in the exchange app. Once you locate it, click on ‘Copy Address’ or simply select the address by right-clicking and copying the address.

Now, head to your crypto exchange e.g. Coinbase, and go to the Portfolio page. Once the page is open, click on your assets list and then click ‘Send’.

You can now paste the copied wallet address to the ‘Recipient’ field and click on ‘Send’ to proceed.

Once your exchange is successfully through, you will receive a confirmation email from your altcoin exchange.

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Purchase XLM

You can now open your altcoin exchange and select BTC from the options above the search bar. We choose BTC because we are trading bitcoins to purchase XLM. Now, type “XLM” in the search bar and you will find the available sets of pairs.

Select the pair to see the price chart. Once you are ready to make the purchase, click on the green button ‘Buy XLM’.

Following the above-mentioned steps, you can easily buy Stellar (XLM) with your BTC or ETH on any of the altcoin exchanges.