So you know that you want to buy Stellar Lumens but don’t know how to do it. Don’t worry, we have you covered. In this article, we will tell you where to buy XLM coin and show you to do it.
- 1 Is It Too Late To Buy Stellar?
- 2 XLM Price Prediction: What Does The Future Hold?
- 3 Where To Buy XLM Coin – Our Favourite Ways Explained
- 4 Getting Started On Coinbase
- 5 Coinbase Account Ready To Go? What Now?
- 6 The Best Free XLM Wallet
- 7 Getting Setup On Binance
- 8 Transfering Crypto From Coinbase To Binance
- 9 How To Buy XLM Cryptocurrency on Binance
- 10 Withdrawing Stellar From The Binance Exchange
- 11 eToro The Straightforward Way To Buy & Sell XLM Coin
- 12 Final Thoughts
Is It Too Late To Buy Stellar?
For a cryptocurrency, XLM has been around a long time and was founded all the way back in 2014. This makes it one of the most well-established cryptos in the entire market. Back then, the cryptocurrency market was in a totally different place. A promising altcoin project like XLM could only hit a market cap of $750,000. When Stellar was launched, the crypto market only had an overall market cap of $8 billion and Bitcoin made up 93.5% of the market.
Fast forward to today and the cryptocurrency market cap is measured in hundreds of billions of dollars, with XLM being valued at over five billion. This reality should make potential investors ask if they are too late to buy XLM? After all, phenomenal gains have already been made.
With Stellar and any other cryptocurrency, it is likely that you will not see the types of returns that XLM investors got by investing in 2014. However, a new Gallup Poll showed that only 2% of American investors actually own any Bitcoin and that 26% are interested. And that’s just Bitcoin, the most well-known cryptocurrency. The truth is that we imagine if you asked 1,000 people on the street if they had heard of Stellar, you would probably only find one or two that had. This means that cryptocurrencies like Stellar could have much more room to grow than you think.
The process of getting access to cryptocurrencies is notoriously difficult. Coinbase will be about as far as most people will go. This means that cryptocurrencies listed on Coinbase usually get the highest investment inflows. The good news is that Coinbase is actually looking at adding XLM to their platform. If this happens, we imagine this easier accessibility will be good news for the XLM price.
XLM Price Prediction: What Does The Future Hold?
Stellar has already forged promising looking partnerships with the likes of IBM and Deloitte. The Stellar network has also begun to be used as a platform to launch ICOs, very much like Ethereum. In short, this makes XLM a sort of hybrid between Ripple and Ethereum.
The vision of Stellar is a noble one. Helping the two billion people in the world who are unbanked and giving them access to financial services simply will not happen overnight. The potential is there for Stellar to be one of the widest used payment networks on the planet. Sadly, results take time.
When it comes to cryptocurrency prices, so much seems to be driven by emotions and hopes for crypto projects. No widely accepted method to value cryptocurrency has been devised yet. This means that no one can accurately make XLM price predictions. Quite simply, XLM is worth what people are willing to pay for it.
In the near future, the price of XLM could surge if it’s listed on Coinbase. The thing to be aware of is that the Stellar price did increase on the news that Coinbase were exploring the possibility. This means that a Coinbase listing has particularly been factored into the price. However, when investors come flocking back to cryptocurrencies, it is likely that many will invest through Coinbase. In this situation, XLM being available on Coinbase should be positive for its price action.
As cryptocurrency markets mature, the TotalCrypto team do feel that Stellar will catch an increasing amount of new investment. If crypto as an asset class becomes truly mainstream, we do expect XLM to do well.
Where To Buy XLM Coin – Our Favourite Ways Explained
By the time you read this, it is possible that XLM is already listed on Coinbase. If so, then we would recommend you buy your XLM there. We simply find Coinbase the easiest for beginners to buy cryptocurrency and can certainly recommend it.
As things stand right now, the best way to buy actual XLM coins is by using Coinbase to buy Bitcoin or Ethereum, then sending this to Binance to trade for Stellar. Around 50% of all XLM trading happens on Binance. So if you are using this exchange, you shouldn’t ever have to hang around to get your XM order fulfilled. Also, Binance is a great gateway to access the 100 other cryptocurrencies. So having a Binance account is probably a good idea if you might buy other different cryptos in the future.
There Is Another Way: If Using Coinbase & Binance To Buy XLM Sounds Like Hard Work
We do understand that creating multiple accounts and making transfers between them can be annoying and time-consuming. Also, not everyone is so concerned about holding actual XLM coins and simply want exposure to the rise and fall of the coins price. If that’s you and you don’t live in the US, then you might want to get exposure to XLM on eToro. eToro is a contract for difference broker that allows you to buy and sell XLM contracts. Put simply, these mimic the market movements of XLM and give you exposure to the cryptos price.
All this can be done in one account and you don’t have to bother about setting up wallets to store your coins. Unlike many other cryptocurrency exchanges, eToro is also fully regulated. This may be seen as a huge plus for anyone who wants to keep their money on a fully regulated platform. In terms of special features, eToro also offers copy trading. This allows you to copy the trades of the most successful investors on eToro, which is useful if you need some crypto investment inspiration.
Getting Started On Coinbase
What You Need To Know:
- Top Reputation: The exchange is the most popular way to get into the crypto market. Established in 2012, Coinbase is an OG of the cryptocurrency space.
- Top Choice For Beginners: The Coinbase interface makes it as easy and simple as possible to buy crypto.
- Fully Regulated: Unlike other crypto exchanges Coinbase is fully compliant with regulations.
- Min Deposit: Invest in crypto with as little as €6.
- Deposit Methods: Bank transfer, bank card & PayPal for US users.
- Insured Balances: For US users balances of up to $250k are insured.
- What’s On The Shelves? Ethereum, Bitcoin, Litecoin and Bitcoin Cash.
Spend Over $100 On Crypto With Coinbase & Get $10 FREE. Simply Sign up With TotalCrypto.
Just check out our guide if you want to double check you are setting up your account right.
Coinbase Account Ready To Go? What Now?
Once your Coinbase account is created, the next thing to do is to buy some Ethereum or Bitcoin. Your plan is to do this and send your crypto to the Binance exchange to buy your XLM cryptocurrency.
The Simple Way To Buy BTC & ETH With Coinbase
- On your account, you will need to go to the ‘Buy/Sell’ section on Coinbase.
- Hit the ‘Add Payment Method’ button.
- Select Your Deposit Method: If you want to deposit on Coinbase and pay the lowest amount of fees, you want to choose a bank transfer. The drawback is that you deposit might take up to five working days to hit your account. The fastest way to get money on Coinbase is by using a bank card or PayPal. When you have chosen the right deposit method for you, send the payment and wait for your deposit to go through.
- When your deposit has been credited to your account, you can then buy your crypto. Click the Bitcoin or Ethereum button in the ‘Buy/Sell’ section.
- Key in the amount of Bitcoin or Ethereum you want to buy.
- Choose the wallet you have deposited into as your payment method.
- Finally, double check your order and click the ‘Confirm Buy’ button. Your order will then be processed and your Bitcoin or Ethereum credited to your account.
Unfortunately, the easiest way to buy cryptocurrency is not the cheapest. If you want to save a little on fees, you can use a harder method using CoinbasePro (historically known as GDAX). If you’re interested in knowing what hoops you need to jump through to make this happen, just read our Coinbase guide.
When you have your Bitcoin or Ethereum on Coinbase, you are then ready to set up your XLM wallet. This will mean that you are ready to get your XLM coins off the Binance exchange as soon as you have bought them.
The Best Free XLM Wallet
XLM coin is built on Stellar’s own blockchain. This means that you must use an XLM Stellar compatible wallet to store your coins. Our top choice is the Ethos universal wallet. Amazingly, it’s completely free to use, has been touted as having similar security levels to hardware wallets and you can store over 100 different cryptos in it.
Ethos supports XLM coin and is the perfect choice for anyone that may invest in other cryptocurrencies in the future. Quite simply, setting up different wallets for different cryptos is a hassle. The Ethos universal wallet should mean that you can store all your coins in a single place. In our book, that makes things a lot easier.
Get Your FREE All In One Wallet Solution For Storing Crypto
Getting Setup On Binance
You should have your Ethos universal wallet set up and have some Bitcoin or Ethereum on Coinbase. The next step is to set up a Binance account and send your cryptocurrency there. Then you will be able to buy XLM coin.
There are dozens of different cryptocurrency exchanges out there, so why are we recommending Binance? First of all, Binance is home to 50% of all XLM coin trading volume. This means you will not have to be hanging around for ages to get your order processed. Secondly, Binance is the most popular exchange in the world and is actually the exchange we use ourselves for most crypto purchases. Finally, out of all the crypto to crypto exchanges out there, we think it’s the simplest to use.
Binance Important Info:
- The Most Popular Exchange: Binance is home to the highest trading volume in the world.
- Big Selection Of Cryptocurrencies: Get access to over 100 major cryptocurrencies through one account.
- A Beautiful Exchange That’s Simple To Use: We really like how the exchange looks and the software is beginner friendly.
- Customer Support: There is nothing more annoying than having customer support that doesn’t speak your language. Binance has invested in multi-language support.
Buy Your XLM Cryptocurrency On The World’s Biggest Exchange.
Just read our guide if you need some help getting things started on Binance.
Transfering Crypto From Coinbase To Binance
With your Binance account set up and ready to go, you now need to deposit your Ethereum or Bitcoin onto the exchange. Just follow the steps below and you will have your funds on Binance in no time.
Stage 1: Find Your Binance Deposit Address:
- Select the ‘Funds’ button when you are logged into your Binance account. In the drop-down, you will see a ‘Deposit’ button.
- Important: it’s vital you select the cryptocurrency that you have on Coinbase. Sending cryptocurrency to the wrong sort of crypto address will result in you losing your funds. Choose Ethereum if you have ETH on Coinbase or Bitcoin if you are holding BTC.
- Your unique Binance deposit address will appear on your screen. Make sure you copy this.
Stage 2: Sending Funds From Coinbase
- Hit the accounts button when you are logged into your Coinbase account.
- Find the cryptocurrency you own and click the send button.
- Paste your Binance deposit address into the ‘Recipient’ address box. Once done, double check the address matches with the one displayed on Binance and enter the amount of crypto to send.
- To process the transaction just click ‘continue’. Your Bitcoin or Ethereum will then be deposited on Binance.
How To Buy XLM Cryptocurrency on Binance
Once your Bitcoin or Ethereum has been deposited on your account, you are ready to buy your XLM coins. Just follow the walkthrough below:
- Go to the homepage when you are logged into your Binance account. You will then see a list of different cryptocurrency markets. The first thing to do is to select the right trading pair. To do this, choose ‘BTC Markets’ if you have Bitcoin on the exchange or ‘ETH Markets’ if you have Ethereum. Then type ‘XLM’ into the search field and select the XLM/BTC or XLM/ETH market.
- You will then be taken to the trading screen. To buy XLM, just choose the ‘Market’ tab – this allows you to buy XLM coins at the current market price. Then enter the number of coins you want to buy.
- Finally, double check your order before clicking the ‘Buy XLM’ button. Once you press this, your XLM coins will be credited to your exchange account.
Withdrawing Stellar From The Binance Exchange
Now that you’re a master on how to buy XLM, the final step is working out how you are going to store your coins. Some people decide to keep their crypto on the exchange. However, we recommend you store it in your own personal XLM wallet.
The reason why is that cryptocurrency exchanges have millions of dollars in cryptocurrency being stored on exchange wallets. This makes these exchanges a tasty target for hackers. As Binance is the biggest exchange in the world, it is probably the biggest target out there. You should know that exchange hacks do happen and it’s ultimately your decision on how you store your XLM coins.
However, if you want to store your coins in the Ethos Universal wallet, just follow the steps below:
- Copy your XLM public address from your Ethos Universal wallet. If you need help finding this, we recommend you read our Ethos wallet guide.
- When logged into Binance, select ‘Funds’ from the top navigation bar and hit ‘Withdrawals’.
- Look for XLM in the drop-down and click on it. Then paste your Stellar Ethos address into the XLM coin withdrawal box. Choose the number of coins you want to withdraw and double check that your withdrawal address is correct. Once you hit ‘Submit’ your XLM coins will be sent to your Ethos universal wallet.
eToro The Straightforward Way To Buy & Sell XLM Coin
You can probably see that it’s a long process to get XLM through Coinbase and Binance. It’s certainly not for everyone and many people are just looking for the simplest way to get exposure to XLM. Fortunately, eToro offers investors another option where you can buy and sell XLM through a single account.
Why Do People Use eToro?
- eToro allows investors to get exposure to cryptos like Stellar on a fully regulated platform.
- A wider selection of deposit methods. Many people are wanting to use payment options like Skrill, Neteller, and Webmoney. eToro supports more deposit options than any other option.
- Customer support on CFD brokers is usually better than you will find at crypto exchanges like Coinbase.
- With eToro, there is no need to bother setting up a crypto wallet. As it’s fully regulated and you gain crypto exposure through contracts there are not the same security concerns.
- eToro allows you to find the most successful crypto traders and allows you to copy their trades.
Does eToro Sound Like The Option For You?
If you want the simplest method to buy and sell XLM coin, then certainly check out eToro. The thing to know is that you will not be buying or selling actual cryptocurrency on the platform. eToro is a contract for difference broker that gives users exposure to the XLM price through contracts backed by XLM coins. This means that trades placed on eToro mimic the gains and losses of XLM coin.
Want To Learn More About eToro & Get Started There? Just Read Our Dedicated eToro Guide & You Will Be Trading XLM Coin In No Time.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Stellar is certainly one of those ‘feel good’ cryptocurrencies that could potentially change the world for the better. There is little doubt that excluding two billion people from financial services is a massive brake on productivity.
For many in the cryptocurrency community, Stellar is the project that Ripple always ought to have been. Instead of using technology to help banks make higher profits, the better application is helping those most in need. The Stellar Vs Ripple debate certainly splits opinions and we imagine it will continue to do so for some time.
The TotalCrypto team is also excited to see what new ICOs will be launched on Stellar in the future. Maybe, just maybe the project could offer real competition to Ethereum as a platform to launch ICOs.