Buy Stellar Lumens
In fact, Stellar (the cryptocurrency of the XLM or Lumens platform) is a decentralized consensus platform for exchanging any assets. Cryptocurrency acts only as an exchange unit. That is, XLM is a kind of bridge for the exchange of one asset to another.
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For example, you keep Bitcoins and want to transfer them to another user in the form of Ethereum or make an input on a dollar account in the bank. To do this, you simply sign up for an account with Stellar, enter the data for the exchange, select the exchange option offered by the system and make the transaction. The Lumens are needed to pay a commission, which, by the way, is quite small – only 0.0001 XLM.
This scheme is possible due to the functioning of the internal decentralized stock exchange Stellar. It works thanks to the built-in algorithm SCP, which is also called the consensus protocol. This algorithm is based on the distributed data register on the basis of the blockchain system. There are data, entered in it, on all actual and processed transactions, these data are also stored in this register.
The work of the registry is provided by a set of peer-to-peer and independent nodes, to which all information is automatically copied. Even if one node fails, information will be stored on the others, and a system crash will not be possible.
Buy stellar lumens in the exchanger
There are many different types of services where to buy stellar lumens. But the easiest way to do this is in the exchanger. You just need to specify the method of payment, it can be another cryptocurrency or a fiat currency, for example, USD. Then you choose the cryptocurrency for the purchase and its quantity. In this case, it will be stellar lumens. After the system determines the rate, the window will show the final amount that the buyer must pay. Now it only remains to press “exchange”, and the rest will happen automatically – the sum of funds indicated by the system will be transferred off the card or another account, and coins will be received on a cryptocurrency wallet.
You can also go the other way: enter the amount you want to spend to buy specific virtual notes, and the program will calculate and show how many there will be.
How to buy stellar lumens with usd in exchanger? Pros & Cons
- Fast operations.
- A good choice of exchangers, so by comparing them you can always find a more profitable exchange rate.
- Integration with leading payment platforms.
- The safety of monetary manipulation.
- In comparison with the exchanges, the rate still loses.
- When exchanging currencies, an additional commission is charged.
How to buy stellar coin on the exchange
To find on which exchange to buy the cryptocurrency, now is not a problem, because there are created a lot of exchanges. To begin, it is necessary to sign up at the selected website and replenish your personal account: by credit card, PayPal or bank transfer.
Now when the money has been reflected in your account, just determine the desired cryptocurrency and make an order for its purchase. After processing the order, a certain amount will be debited from the account, and stellar coins will be sent to the exchange coin. So you can not only buy stellar lumens with usd but also with any other currency.
Specify the amount of the cryptocurrency you have chosen to purchase and proceed to the search. The service will find the offer you are interested in according to the current exchange rate and display the result for you on the screen.
How to buy stellar coin with more advantages
For more advanced stock exchange players, there is a much more interesting way to exchange, but most importantly – much more winning, albeit long. Its essence lies in the fact that the buyer studies the list of trades and chooses the most attractive offer for himself.
Having decided on the variant, you should send the order and stay patient, because only transactions that are consistent with the proposed rates are processed instantly, the rest are sent to the glass of quotations and wait until the effective price reaches the buyer’s chosen mark.
In order to wait for not very long, do not depart from the official rate too far. This is a gambling on the stock exchange and, gaining experience, you can make good money on quotes.
Pros & Cons of the stock exchange operations with Stellar Lumens
- Integration with leading payment platforms.
- All popular cryptocurrencies are available for purchase.
- There is an opportunity to choose the best rate.
- Extra profit due to a fluctuation of the exchange rate.
- There are both stock fees and hidden payments.
- Requests for purchase require waiting.
Where to buy stellar from hands to hands
We’d rather warn you immediately that this is not the most reasonable way to acquire digital capital, especially for the beginners. But if you are not afraid to take risks, then go to bitcoin-hangouts, where there are enough sellers. They can be found not only on specialized services but almost on any site with ads.
One of the most famous platforms is the Swedish representative of LocalBitcoins.
First, you need to get registered for the service. Enter the desired currency in the search and see a considerable list of offers. Having chosen the most attractive, send the seller a request for a purchase, after that you can specify the method of payment.
Here are the pros & cons of this method to buy cryptocurrencies like Stellar Lumens:
- The absence of commissions and additional fees.
- There is no limit to the number of transactions.
- You can buy currency at a favorable rate.
- The main cryptocurrency remains to be Bitcoin.
- There is binding to the claimed payment methods.
- A very low safety threshold.
How to buy stellar lumens with cash
It is not necessary to obtain a bank plastic or an electronic wallet to buy crypto coins. For example, in almost all countries there are cryptomats, where you can buy or sell a cryptocurrency.
You can also use the method described above, and negotiate with the seller about a personal meeting for cash payment. In general, this way of buying Stellar Lumens is used by people for whom the high level of anonymity is very important. Very often the one who buys and sells the cryptocurrencies is a person who is engaged in illegal business.
Regarding the advantages and disadvantages:
- There is no binding to banks and an electronic purse.
- High risk of fraud
Regardless of how you decide to buy stellar lumens, always check the reputation of the services. Here, at our website, there is a rating system and the collection of the reviews for exchangers and cryptocurrency stock exchanges. Note, that it is better to deal with the services that have been functioning for a long time and have already a lot of positive testimonials, even if their competitors offer the lower fees.