How to Buy, Sell, Trade Stellar Lumen XLM Worldwide

Given how popular Stellar’s Lumens are, it wouldn’t be surprising if you decided to invest in or trade Lumens.

This easy and quick guide will show you how you can buy and sell XLM worldwide.

Before we jump in, make sure you have a XLM wallet ready.

You can definitely choose between a hardware and a software wallet for this based on your needs.

If your aim is to make regular transactions on the go, then choose a software wallet as it is always connected to the Internet. It is also free to use.

However, if you are planning to make an investment, use a hardware wallet to keep your holdings safe. Hardware wallets have to be bought but it is always better in the long run as it is safe from malware attacks and hackers.

You can also use a mobile or desktop wallet as long as your network is private and secure. This is a critical point to remember when dealing with cryptocurrency. You must have a private secure network to browse or trade. Public WiFis are extremely unsafe and your information can be easily skimmed off.

Also, make sure you don’t tell anyone about your crypto holdings. Telling everyone you know is a surefire way to become a target of a hack.

Once you settle on a wallet, locate your Lumen wallet address. This is a string of letters and numbers that will start with a G that you will need once you start trading Lumens and want to store them in your wallet.

Now, let’s discuss methods through which you can trade, sell and buy XLM

1. Use a cryptocurrency exchange: Look for both XLM and STR as Stellar’s ticker symbol was recently changed. Using a cryptocurrency exchange is the easiest way to buy Lumens. You can use CoinSwitch to get the best exchange rates as they track all the major exchanges around the world. Since cryptocurrency is extremely volatile, if you may find the exchange value has changed during the transaction.
2. Buy Lumens with a credit card: You can also use a credit card to buy Lumens on CoinSwitch. This is very easy to do and requires very little effort. However, you cannot buy Lumens directly so you will have to purchase Bitcoin, Ethereum or some other popular altcoin first and then convert it to Lumens on the platform. The best part is that CoinSwitch doesn’t require you to set up an account for this. All you need is the Lumen wallet address.
3. Convert crypto coins to Lumens: If you already have crypto coins, you can also convert it to Lumens on CoinSwitch. CoinSwitch has minimal trading fees so you can make micro transactions as well.
4. Selling Lumens: You can either convert Lumens to some other coin or convert it to fiat currencies or even use a website like LocalBitcoin to sell your Lumens.

Since CoinSwitch has minimal withdrawal fees, you can easily store your Lumens in your wallet after every transaction rather than leaving it on the exchange. CoinSwitch also helps you trade Lumens discreetly because you do not need to create an account.

Do check your local laws to make sure that cryptocurrency is legal in your country. Some countries like China have banned it outright and you may not be able to access the exchange there.