Buy Stellar (XLM) – A Step by Step Guide

stellar

Stellar is a platform that aims to connect people from around the world, whether rich or poor, with low-cost forms of payment and their own cryptocurrency, the Stellar Coin (XLM). The people behind stellar.org are a team of top developers and finance personalities. The fight against poverty is paramount.

Buy Stellar (XML): Which platform to buy from?

How do you buy Stellar? Unlike the “normal” stock market, where stocks, funds or bonds are traded, buying Stellar is not that obvious. Generally you get direct support from your bank when trading stocks, funds, etc., or you have friends and acquaintances who can help out. In the case of Stellar, this is usually a bit more difficult.

Banks do not offer cryptocurrency trading. So you are usually on your own. In the following section we would like to give you recommendations based on our experience on how to buy Stellar.

To buy Stellar, you first need to buy Bitcoin and then trade BTC for XLM. Here is how to do it:

Step 1: Find a Trustworthy Exchange

From our experience, Coinbase is a reliable, reputable and established exchange. Coinbase offers the possibility to buy Bitcoin in a fast and uncomplicated way. You can start right away with the purchase of the digital currency.

Step 2: registration

Visit coinbase.com and click on the “Sign up” button. You will get to the following overview:

coinbase create account

After entering your full name (first and last name), e-mail address, password and country, just click the “Create account” button. Coinbase will send a confirmation link to your email address. After clicking the link in the e-mail sent by Coinbase, you can start buying Bitcoin.

But before, you will have to enter your phone number and provide additional information about yourself like employment situation, anual income etc.

Step 3: Buy Bitcoins

After logging in, you will see a overview of the current Bitcoin Price. You can also choose Bitcoin Cash, Ethereum or Litecoin in the overview section.

coinbase overview

Under the menu item “Buy/Sell” you select Bitcoin and enter how much Bitcoin you want to buy. You can choose between the following Payment Methods:

  • Banc Account Link (US Users)
  • Debit Card (US + European + Australian Users)
  • Wire Transfer (US + European Users)

Bitcoin Wallet

Coinbase offers a wallet for all the currencies you can buy and sell on coinbase.com. Once you bought Bitcoin on Coinbase, you will see the corresponding units automatically in your Bitcoin wallet.

coinbase wallet

If you want to sell Bitcoin, you just have to generate your Bitcoin address and send your funds from your Desktop wallet, hardware wallet like Ledger or another Exchange to you the Coinbase address and you will see your funds in the overview.

Step 4: Buy Stellar at Binance

To buy Stellar, you just have to send your Bitcoins to Binance in order to trade them for Stellar (XLM).

To do just that, visit binance.com and register for an account. You don’t need to verify your identity: with an unverified account, you can withdraw up to 2BTC in a 24h time window.

Search for Stellar or XLM in the overview section:

stellar binance

Then click on the trading pair XLM/BTC. This will take you to the Exchange view:

buy stellar (xlm)

Here, you simply enter the amount of Stellar that you want to buy. By using the Market option, you will buy XLM at the current market price. This is the best option if you want to buy Stellar in a fast and uncomplicated way.

You can define your own price when choosing the Limit option, but Binance will show an error message if the price is too different from the current Stellar price, since the probability of someone willing to sell you Stellar for that price is relatively low.

Once you click on the Buy XLM Button, your order will be processed immediately. Your funds will be transferred to your Stellar Wallet at Binance. From here, you can send them to a Hardware Wallet like Ledger or trade them for a different cryptocurrency at Binance.

If you have any questions about the process let us know and we’ll do the best to help you out.

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