How to Buy Stellar Lumens (XLM)
Stellar (XLM) is a protocol designed for use by payment providers and financial institutions that acts as a kind of decentralized exchange allowing users to transfer any kind of asset.
For a more comprehensive overview that breaks down how Stellar works, be sure to read our “What is XLM?” primer. It covers the key points you’ll need to know before you buy XLM, such as who created it and an explanation of its technology stack.
Ready to get started?
If you’re already up on the basics and just want to place a trade, click the button below, or read on for an easy step-by-step guide that will teach you how to buy XLM.
Why buy XLM?
XLM has a finite supply, fixed at just over 50 billion, which could add to its value over time if the Stellar network matures and becomes widely used for payments or exchange.
XLM buyers may also be motivated by an effort to
- Pay the cost of sending transactions over the XLM Ledger
- Use XLM as a long-term crypto portfolio strategy
- Day trade or pursue short-term profits
Where can I buy XLM?
The easiest way is to buy XLM through an exchange, like Kraken.
Aside from offering a simple interface and the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose your crypto it is nearly impossible to recover your losses.
At Kraken, we take security seriously with state-of-the-art technology and procedures that protect client funds. We do not compromise when it comes to security, and neither should you.
How much XLM can I buy?
You don’t need to purchase 1 XLM to add this cryptocurrency to your portfolio.
The smallest unit of XLM, called a “stroop,” is 1/1,000,000th of an XLM, meaning you can easily purchase fractions of an XLM at Kraken and other exchanges.
How to buy XLM on Kraken
The steps below outline how to buy XLM using the Kraken platform:
- Sign up for an account
Enter your email address on our signup page, select a unique username and be sure to create a strong password.
- Verify your account
You can buy XLM with other cryptocurrencies like bitcoin or ether, simply by providing your name, date of birth, country and phone number. If you’d like to use fiat currencies, like USD or EUR, you’ll need additional support documents verifying your identity. For more information, see our verification levels documentation.
- Deposit crypto or fiat currency
To deposit crypto, you simply create a deposit address and send the deposit from your wallet to that address. For fiat deposits, we offer a variety of funding methods depending on your location and preferences. Browse through our support documents to choose the best option for you.
- Buy XLM!
Once your fiat currency hits your account, you’re ready to buy XLM. Simply open the New Order page, fill out the order form and click BUY. With your Kraken account you’ll also have access to our charting tools, 24-hour global client support, advanced order types and leveraged trading.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying Stellar Lumens, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where to keep your XLM
Once you’re done buying XLM, you should look for a way to secure it. The best way to do this is with a wallet that supports XLM. A wallet is anything that allows you to send, receive and store a cryptocurrency.
There are many types of wallets you can use to keep your digital assets safe, including hardware, software, cloud and even paper. The option you choose will depend on your individual needs and preferences.
Kraken is not a wallet service
It’s important to note that Kraken is an exchange service and not a wallet service. So, while we allow clients to hold funds while they’re being used to make trades, consider separating your holdings into more than one wallet. After all, it is never good to keep all of your eggs in one basket, even one protected by the mighty Kraken!
Start buying XLM
If you’re ready to take the next step and want to buy XLM, click the button below!