Table of Contents
A few words on Stellar
Stellar (XLM) is a fully decentralized compliance platform. It is designed to support any type of currency. It has a built-in decentralized exchange that can be used to trade any currencies or assets.
A decentralized network consists of peers that can operate independently of each other, which means that the Stellar network is not dependent on any object. The idea is to have as many independent servers as possible participating in the Stellar network, so that the network continues to function successfully, even if some servers fail.
Stellar features are the following:
- 3-5 second confirmation
- Supports thousands of transactions per second
- It can be used to send or exchange any currency, asset or token
- Open source
- Uses SCP, not Proof of Work
- Multilevel smart contracts
- Decentralized distributed database
- 1% annual inflation
Stellar (XLM) Wallets
Before you buy Stellar, you need to have a reliable crypto wallet. There is a wide scope of wallets available, including web, mobile, and desktop wallets.
- Trezor, Ledger Nano X and Nano S are recommended hardware wallets;
- Blockchain.info, BlockEQ, Lobstr, and Stargazer are the best mobile wallets;
- As a desktop wallet, you can choose BlockEQ, StellarTerm, and Stargazer.
- Also, Lobstr and Blockchain.into are available as a web-based solution.
On the official Stellar website, Keybase, Sollar Wallet, and Coinbase are recommended.
Where to buy Stellar (XLM) cryptocurrency?
Stellar (XLM) is sold on a large number of cryptocurrency exchanges. You can buy it for BTC, XLM, and other altcoins. In some platforms, you can buy Stellar for fiat (USD, EUR).
How to buy XLM with Credit Card?
Using a banking card, you can buy XLM directly: it’s sold on such platforms as Atomic Wallet and Cex.io. Alternatively, you can purchase Ethereum or Bitcoin and change it to XLM. XLM/USD pair is present on such platforms as Kraken, EXMO, HitBTC, Bitcoin.com, Exrates, and Binance US.
Buy Stellar (XLM) with USD on Changelly
You can buy Stellar (XLM) on Changelly in a couple of clicks using your credit card. Visit Changelly website, specify the amount of UDS or XLM you need, and proceed with the payment process. Enter your XLM wallet address, specify details and personal information, pay, and you’re done.
How to buy XLM with PayPal?
Currently, you cannot buy XLM using PayPal as most cryptocurrency exchanges do not accept PayPal payments. However, you can buy Bitcoin with PayPal on several exchanges (Local Bitcoins, Wirex, VirWOX, Paxful) and then exchange it to XLM cryptocurrency.
Stellar cryptocurrency mining is not possible. Despite this, each user of the network can get a certain amount of Lumens for free. Distribution is carried out to Bitcoin owners in the amount of 1% of the balance.
To receive passive payments, you can use the following recommendations:
- With planned annual inflation of 1% of the issue of XLM tokens, voting is activated.
- The owners of Lumens can indicate their address to receive the generated coins and recommend XLM to all their friends so that there are as many votes as possible.
- Those addresses that gain more than 0.05% of the vote will receive a certain share of tokens.
- Voting is organized every week, so everyone has a chance.
The organizers of the mining pool Stellar have come up with a special scheme that works for those who vote in favor of their project. In automatic mode, the distribution of the received coins between the users who participated in the vote takes place.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.