What is Stellar Lumens (XLM)?
Simply put, Stellar is a blockchain for storing and moving money. It is designed so all the world’s financial systems can work together on a single network. Stellar’s cryptocurrency, the Stellar Lumen (XLM), powers the Stellar payment network. Stellar aims to connect banks, payment systems, and individuals quickly and reliably. You can buy and sell XLM for any major cryptocurrency – like BTC and XRP – or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade XLM for BTC the same way you trade CAD for USD. You can also trade XLM to CAD based on the XLM price. To learn how to buy Stellar Lumens / XLM, scroll down to see how to buy Stellar Lumens.
How to buy Stellar Lumens (XLM)?
Here's how to buy Stellar Lumens on Coinsquare
To buy Stellar Lumens, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying XLM. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select XLM from the list on the trade section
Coinsquare lets you trade XLM without leaving the app. You can also check the Stellar Lumens price and convert XLM to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the XLM price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Stellar Lumens (XLM)
Congratulations! You’re now the proud owner of XLM. You can either HODL or use it to exchange XLM to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Stellar Lumens (XLM)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Stellar Lumens (XLM) to your portfolio?
Create your account, fund it with spare change and get a little bit of XLM.
