Stellar is an open-source and decentralized blockchain network for storing and moving currencies through its native cryptocurrency, the Lumens (XLM). Unlike Bitcoin and other cryptocurrencies, Stellar Lumens is based on a consensus algorithm known as the Stellar Consensus Protocol. XLM behaves as a link between the fiat and digital currencies being exchanged on the Stellar network. Besides serving as a gateway for secure and seamless multi-currency and cross-border transactions, Stellar Lumens prevents denial-of-service (DoS) attacks on the Stellar network.
Stellar connects people with banks and multi-payments systems. It facilitates the creation, storage, transfer, and trade of digital representations of internationally accepted currencies, such as dollars, euros, pesos, and Bitcoin, at a reduced fee of 0.00001 Lumens. Its built-in decentralized micropayment service allows users to exchange XLM for crypto, forex, and securities. As with most blockchain networks, developers can develop decentralized apps (dApps) and tokens using the Stellar network.
Unlike other crypto projects, Stellar Lumens adopts a more focused approach toward the digital economy. As per Stellar Lumens News, The real-world integration of the Stellar network by renowned corporations like Deloitte Digital Bank and IBM has fuelled the popularity of Stellar Lumens.
If you’re wondering how to start trading Stellar Lumens, we have got you covered with our picks of the best crypto exchanges. Also, don’t forget to read future price projections of Stellar Lumens here. Keep on reading to learn more about them.
Exchanges That list Stellar Lumens
Stellar Lumens are available for purchase on various international cryptocurrency exchanges. However, there are some key factors to be considered when picking the right one, like pairing Stellar Lumens with Bitcoin (BTC) or Ethereum (ETH), liquidity, security, and trading fees, to name a few. Some of the top exchanges that accept Stellar Lumens:
1. Binance
Binance is a popular platform for secure crypto exchange services, low transaction fees, and high liquidity. You can trade Stellar Lumens trading with Bitcoin, BNB, and Ethereum.
2. Bitfinex
Bitfinex has listed Stellar Lumens since May 2018. With numerous trading features, including margin trading, Bitfinex is a reliable exchange.
3. Bittrex
Bittrex is a well-regulated exchange that has made Stellar Lumens available among 190 other cryptocurrencies like Bitcoin and Ethereum.
4. Coinbase
Coinbase lets crypto traders buy and sell Stellar Lumens with its intuitive interface and lower trading fees.
5. Coincheck
Coincheck lets you trade Stellar Lumens instantly and securely with its professional quality trading features without any transaction fees.
6. Kraken
Kraken is popular among experienced traders for low transaction fees, high liquidity, and competitive exchange rates. It lists Stellar Lumens trading with Bitcoin.
7. Poloniex
Poloniex is one of the leading crypto trading platforms with high trading volumes and low trading fees. Stellar Lumens are available for trade with Bitcoin and US dollars at this exchange.
8. Changelly
Changelly is another cryptocurrency exchange where you can trade Stellar Lumens. Its ease of use, speed, and security make it an ideal platform for new traders.
9. CEX
CEX offers a simple interface, transparent and clear trading conditions that allow you to trade Stellar Lumens with ease and comfort.
You can buy Stellar Lumens with Bitcoin or Ethereum that you’ve purchased with a fiat currency on a crypto exchange. Other than these listed exchanges, Stellar Lumens are available on GMO Coin, Huobi, NovaDAX, and Upbit.
Which Exchange Gives Higher Returns On Stellar?
The first thing traders consider before choosing a crypto exchange to trade Stellar Lumens is the returns. It might seem to be a bit daunting and complex given the number of exchanges that list Stellar Lumens. To help you with selection, we list the top 3 crypto exchanges that offer higher returns on Lumens.
- Binance: Due to its high liquidity, this is the best exchange to trade Stellar Lumens.
- Poloniex: High trading volume makes it worth considering to trade Stellar Lumens.
- Kraken: You can also give this exchange a try for its competitive exchange rates and high liquidity.
What Is The Current Market Supply Of Stellar Lumens?
Stellar started in 2014 with 100 billion Stellar Lumens. For the first five years, the company kept increasing the token supply by 1% annually under the Stellar Consensus Protocol. In November 2019, Stellar reduced the overall supply of Stellar Lumens to 50 billion citing loss to the project. Now there are 20 billion XLM in the market, while 30 billion are kept intact by Stellar as part of a strategy to develop and promote the network. The company plans to supply the retained Lumens in the markets over the next few years.
Final Thoughts
Stellar Lumens is accessible, safe, cheaper, and easy to use. Its fundamental design eases the movement of currencies between crypto traders on the network. The sustainability of the token as a medium of exchange between otherwise illiquid assets is ensured by the fact that everyone must have a few Stellar Lumens in their trading accounts. For these reasons, Stellar Lumens has garnered the attention of investors and traders in the crypto community.
At a time when Bitcoin and Ethereum have become synonymous with cryptocurrency, Stellar Lumens gaining traction in the highly competitive crypto market is laudable. Major international exchanges provide marketplaces for buying and selling Stellar Lumens, Binance being our top recommended one. We hope this crypto exchange guide will help you take the first step toward trading Stellar Lumens.