What is Stellar Lumens (XLM)? How to Buy it

Cointral Marketing Manager
What is Stellar Lumens (XLM)? How to Buy it

Stellar, to put it briefly, is a platform that is customized to ensure the safe, fast and cost-effective transfer of money, enabling it to act reliably and almost inexpensively and integrating payment infrastructures with banks and users. Stellar was launched in 2014 with the same name as the platform. One year later, an update to the Stellar network was called Lumens. Lumens is the crypto currency of the Stellar network.

How Stellar Works

The Stellar network offers a distributed and global database like Blockchain technology, which is accessible to everyone. You must have the minimum amount of XLM in your wallet in order to trade on the Stellar network. This minimum amount was determined as 0.5XLM (Lumens).

Stellar Lumens (XLM) Wallet and XLM Storage

Stellar Lumens can be stored in mobile, online or paper wallets. You can choose 3rd party wallets from the wallets listed on Stellar’s own website. You can use mobile and online wallets if you want to carry it with you. To give you a little warning, make sure the wallet you choose shares your private key or 12–24-word keyword phrase with you.

You can also store your XLM assets in an independent, portable and secure hardware wallet. As mentioned above, in order to use Lumens wallet, you need to have 0.5 XLM balance in your wallet.

How to Buy Stellar Lumens

There are two ways to get stellar (XLM). You can visit our Cointral branch to make your XLM trading with the help of our expert staff, or you can go to Cointral.com. You can easily make your trading by clicking on the Online Transactions tab. You can also trade with Bitcoin, Ethereum, Ripple, Litecoin, Dash, Tether, BNB Coin, Cardano, Dogecoin, Monero and more than 1200 crypto currencies with Cointral.

Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.