Stellar Lumens (XLM) is the native token of the Stellar platform. This decentralized currency has lately become the hot favourite of crypto investors. Hence, today we’ll discuss where and how you can buy XLM in India. Furthermore, this article will throw light on the pros and cons of investing in XLM cryptocurrency.
Table of Contents
- Stellar lumens (XLM) is a native, built-in cryptocurrency of the Stellar digital financial platform.
- It is a digital financial network that aims to bring the entire world’s financial system on a single platform.
- One has to mandatorily possess some Stellar lumens tokens in the account if one wants to have an account on Stellar.
- StellarX is a built-in decentralized exchange platform of the Stellar network itself.
- You can easily purchase XLM tokens in India on multiple cryptocurrency exchange platforms like WazirX, Bitbns, CoinDCX, and BuyUCoin.
- One can purchase or acquire XLM tokens on DEX platforms such as Uniswap and Pancakeswap, and StellarX.
- However, all the different methods and places of purchasing XLM coins have certain advantages and disadvantages which should be carefully examined.
What is Stellar?
In simple words, Stellar is a digital financial network. You can create, store, move and trade Digital money in all forms: Bitcoin, dollar, Eth, etc., on Stellar. Moreover, it is an open network designed with the vision to bring the world’s financial system on one platform. Furthermore, its API and SDKs are set to bring revolution in the finance world.
Stellar as a platform provides several striking facilities to its clients. Firstly, it has primary currency-backed tokens on its network, opening a wide range of options to choose from. Secondly, it offers low fees, fast transactions facilitating power payments for all sizes. Thirdly, it is designed to help developers better their project and its growth through its various tools.
What is Stellar Lumens?
At present, the minimum transaction fee is 0.1 XLM, while the minimum balance is set at 1 XLM.
The lumens (XLM) are built-in tokens of the Stellar network. Although the main aim of it is to support the digital form of all currencies, it has designed its digital token (XLM) for a particular purpose. To have an account on Stellar, it is mandatory to hold a small number of lumens in the account at all times. This compulsion acts as a safeguard that protects the Stellar network from being used as an arbitrary database and against spam.
What is StellarX?
StellarX is Stellar network’s very own built-in decentralized exchange platform. It is a third-party client built on stellar’s open network. The feature of trading directly from Wallets and on-chain settlement of actions gives a feel of DEX. However, StellarX differs from a typical DEX platform because it does not maintain order books. Moreover, it doesn’t have a trading system of its own. It’s essentially a public-accessible GUI for Stellar trading setup.
All the tokens present on the Stellar network are available on StellarX. Except for the minimum transaction fee of Stellar, as an anti-spam measure, StellarX does not charge any transaction fee.
Where to buy Stellar Lumens in India?
Stellar Lumens (XLM) are readily available on major international cryptocurrency exchange platforms like:
Furthermore, if we talk of Indian audiences, the most prominent options are:-
Read our blog on Top 10 cryptocurrency exchange platforms to understand better.
How to buy Stellar on WazirX in India?
WazirX, now acquired by Binance, is one of the most trusted Indian cryptocurrency exchange platforms. It has a vast list of tokens to choose from, and that too at competitive trading fees. Read our WazirX review to learn more about the platform.
Follow these simple steps to add Stellar lumens, XLM, to your WazirX account.
- Sign up or sign in to your account on the WazirX platform.
- Complete the identification and verification process.
- Deposit funds into your WazirX account.
- On the ‘Exchange’ page, go to the ‘INR’ section. After that, select the ‘XLM/INR’ pair from the list.
- You’ll find the latest XLM price there; fill in the amount of XLM you want to buy.
- Now click on ‘Buy XLM,’ and your transaction shall be successful after the verification process.
How to buy Stellar Lumens on Bitbns in India?
One can buy, sell and trade a wide variety of decentralized currencies on Bitbns in India. Still, have some doubts? Then, read our Bitbns review to get a better understanding of the same.
Here’s a step to step guide for buying XLM tokens on Bitbns:-
- Firstly, sign up on Bitbns using your email id or phone number.
- Secondly, complete the identification and verification process.
- Now transfer funds in your account with UPI or other direct online payment methods.
- Visit the ‘trade now’ section. Under the ‘INR’ column, look for the ‘XLM/INR’ pair.
- In the price box, input the amount of XLM you wish to buy. The final cost will be displayed in INR.
- Click on the ‘BUY’ option and wait for the transaction to complete successfully.
XLM on Wazirx & Bitbns:Pros & Cons
|WazirX and Bitbns come with an extra dimension of serviceability and hence are more reliable.||Exchange platforms like WazirX and Bitbns charge high transaction fees for their trading services.|
|Furthermore, they are more convenient and user-friendly. Clients can access financial statements anywhere, anytime.||Very low liquidity|
How to buy Stellar token (XLM) on StellarX?
As mentioned above, StellarX is an in-built decentralized exchange platform of the Stellar network. Moreover, it is one of the most reliable sources to buy Stellar cryptocurrency all around the world.
Follow the simple steps given below to add Stellar lumens to your account successfully.
- Firstly, Create an account on StellarX using your email id.
- Secondly, complete the verification process. Now transfer BTC to your account as funds.
- Go to the market section and search for the ‘XLM/BTC’ pair.
- Again select the market option in the price box.
- Now enter the amount of XLM you wish to buy; the required amount of BTC will be displayed.
- Click on the Buy XLM option and confirm the transaction to own Stellar lumens successfully.
Buy Stellar in India: Pros & Cons
|StellarX does not charge any extra transaction fees. Trading is free on StellarX.||You cannot directly buy XLM from a credit/debit card (INR) in India. Instead, you’ll first have to purchase other cryptocurrencies like Bitcoin and then trade it for XLM.|
|It facilitates easy and fast inter-chain transactions like swapping Philippines pesos for Bitcoin.||StellarX does not have its own trading system. Furthermore, it does not maintain any order book as well.|
How to earn free Stellar Lumens?
There are various ways in which you can earn cryptocurrencies without investing money. Some of the easiest methods of making Stellar lumens for free are:-
- Lending Stellar coins
- Staking Stellar coins
- Airdrop programs
Further in this article, we’ll discuss how you can earn free Stellar by lending Stellar lumens.
Earn Free XLM by Lending on Vauld in India!
Lending crypto is the most reliable and popular way of earning free cryptocurrency. You can easily earn interest as high as 11% by lending bitcoins and other cryptocurrencies on Lending platforms like Vauld. Vauld allows its customers to borrow, lend, buy, sell and trade decentralized currencies.
Follow the steps below to start earning XLM coins by lending on Vauld.
- Create an account on Vauld using your email address.
- Complete the KYC and deposit INR in your Vauld account.
- The next step involves buying XLM coins. To do so, head to the buying crypto section.
- Select ‘XLM’ from the list of cryptocurrencies. Next, fill in the amount of INR you want to invest in buying Stellar and click on the ‘BUY XLM’ option.
- After a successful purchase, head to the lending page. A table containing interest rates for various stablecoins and altcoins will be displayed.
- Select ‘XLM’ and fill in the amount of XLM coins you want to lend. The default period is one month, and the interest rate for XLM is around 3%.
- Click on the ‘Create Fixed Deposit’ option. Now the monthly interest will be deposited in your account at the end of the period.
Buy Stellar Lumens in India: Conclusion
Lumens are the built-in tokens of the stellar network, designed as an anti-spam measure. Cryptocurrency exchange platforms like WazirX, Bitbns, BuyUCoin offer easy buying, selling, and trading XLM coins in India.
Furthermore, StellarX can also be an excellent option for purchasing Stellar coins if you want to trade them for Bitcoin or other digital currencies. However, there are risks involved, and they should not be neglected. It is therefore advised to do proper research and planning before investing in XLM crypto. Moreover, one should also do good homework before choosing the platform for such transactions and trading activities. Furthermore, you can earn free XLM by lending, staking, or airdrops.
Frequently Asked Questions
How to buy XLM in India?
There are various crypto exchange platforms where you can buy Stellar crypto. Install their apps or simply visit their website to get started.
What is XLM coin price prediction for 2021?
Nobody can predict the price of any cryptocurrency. However, in order to stay abreast with the pattern and latest Stellar XLM news, refer to XLM coinmarketcap. They have XLM price charts, XLM INR price, XLM rate, and other information like where to buy XLM, XLM Wallet, etc.
How much is 1 XLM in INR?
Much like every other cryptocurrency, XLM price too keeps changing second-to-second. However, at the time of writing this article XLM to INR conversion rate, it is around ₹27.300. You can check the present market value here.