Important Things to Know About Stellar XLM and How to Buy It
The cryptocurrency market has created a huge buzz among investors in the world. Everyone is taking the opportunity to invest in digital currency because the returns are amazing. Bitcoins being the most traded currency, it is often used as a base to decide the value of other cryptocurrencies. One of the most popular currencies that have come up recently is the Stellar XLM. This currency has become firm favorites of many investors because of the fact that you have to use the web wallet to perform the transactions. Unlike other cryptocurrencies that allow investors to use a desktop client, Stellar XLM has limited its transactions to a web wallet and it is actually a safer step for everyone.
The Stellar XLM network will allow cross-asset transfers in a flash; something that has been a dream for other cryptocurrencies. However, the functioning of this digital currency is similar to other currencies. It will handle exchanges between other cryptocurrencies and also fiat-based currencies. Most importantly, the transaction speed of Stellar XLM is one of the fastest because of the highly advanced blockchain technology. Wondering how you can get hands on this digital currency? Here’s a guide that will help.
Buying Stellar XLM
To be honest, there are several methods to buy Stellar XLM and you can follow whichever method you think is suitable. Let’s start with the easiest method first �"
1. Using credit or debit cards
It is a myth that your card details get shared when you are buying cryptocurrencies online. No such thing happens if you are using a trusted platform. In fact, buying Stellar XLM is the easiest if you are using a debit or credit card. All you have to do is buy Ethereum or Bitcoins using your preferred card for the transaction. The next step will be to buy transfer the Ethereum or the Bitcoin in an exchange that supports the transaction of Stellar XLM. When you see that the exchange rate is suitable, exchange the Bitcoins or Ethereum to buy Stellar XLM and enjoy! That’s how easy it is.
2. Using PayPal
There are millions of foreign investors who wish to invest in Stellar XLM but are not able to because it is not yet legalized in their country. Well, PayPal can be a way out to get Stellar XLM in your account. However, a word of caution here �" using PayPal may turn out to be expensive because of the bank transfer fees. You will have to constantly check the latest rates to find out the best time to buy Stellar XLM using PayPal.
Before you do anything, you will have to link your bank account to your PayPal account. PayPal will send a verification link which you will have to confirm to set up the payment method while buying and selling of cryptocurrencies. Your next step will be to open a crypto account and find a platform that supports both PayPal payments and Stellar XLM. It can be tricky to find such an online platform but there are numerous crypto forums that provide details about the websites that support Stellar XLM and PayPal and a number of other payment modes together.
Like many other alt coins, at the moment there is not many options available to purchase Stellar Cryptocurrency coins with PayPal.
Again, the way to get your hand on some Stellar (XLM) is to first head over to Coinbase. where you can buy Bitcoin, Litecoin, or Ethereum.
To get started Click Here to get $10 Fee Bitcoin
Use Bitcoin/Litcoin/Ethereum to Buy Stellar
You will then use the purchased BTC, LTC or ETH to buy XLM Firstly you will have to choose a exchange that holds Stellar such as Binance
You send the currency from coinbase to the exchange of choice using a unique Deposit Address
Once sent It usually takes a little while for the currency to land in the account, 10 minutes to half an hour (depending on the currency and the exchange used)
Once there you will then be able to choose the correct trading pair depending on which coin you purchased from coin base. BTC/XLM LTC/XLM or ETH/XLM
The Stellar Wallets
As mentioned earlier, Stellar XLM does not allow any desktop client for its transactions. You will have to use a web wallet to perform any transaction. So, after you have exchanged your Bitcoins and Ethereum for Stellar XLM, the resultant value will be transferred to your Stellar wallet. Given below are two wallets that you can consider to keep all your Stellar XLM currencies in one place:
i. StellarTerm �" without a doubt, the best Stellar XLM wallet is the StellarTerm. It is easy to use and also offers open source based web trading clients that will help to perform any transaction in the blink of an eye. Most importantly, users have full permission to use any Stellar distributed exchange when they have their currencies in StellarTerm. You will get a unique address that will work as the base for sending and receiving Stellar XLM currencies.
ii. Saza Wallet �" this is another wallet that helps Stellar users to transact their XLM currencies. One of the benefits of using this wallet is that it allows users to manage their lumens and other assets quite easily. There are many users who have multiple stellar accounts and having a single wallet helps them to keep a track of all the transactions they have performed to date. The Saza Wallet allows the users to send payments in various assets, create and manage multiple accounts using one wallet, and also monitor the transactions after the specified time period.
The popularity of cryptocurrencies has become sky high in the last few years. Digital currencies and blockchain technology are being used by some of the stalwart companies in the world to encourage others to opt for this trading option. Moreover, when users have the opportunity to earn some extra money with the help of digital currencies, it should be legalized in every country. The Stellar XLM currency has definitely made a mark in the minds of investors because of their fast transaction and easy buying process. It is time now to see what the world thinks of the bigger picture of cryptocurrencies.