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.
Where do I keep my Stellar Lumens (XLM)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. We’re constantly organizing funds to ensure our customers trade instantly and securely. There are different storage options available for your cryptocurrency, your choice should ultimately be the one that suits your needs. Mobile and web wallets can make transactions easy as the currencies are accessible directly from your phone or device, whereas hardware wallets are best suited for secure, long-term storage as they eliminate the vulnerability found in online environments.
Ready to add Stellar Lumens (XLM) to your portfolio?
Create your account, fund it with spare change and get a little bit of XLM.
