How to buy Stellar Lumens (XLM) in the UK
In order to buy Stellar Lumens (XLM), we first need to acquire Bitcoin (BTC), and will then exchange our BTC for XLM. If you’re planning to buy other cryptocurrencies, buying some extra Bitcoin will save you a lot of time. If you already have Bitcoin, skip step 1.
Step 1: Buy Bitcoin
In this method, you will trade BTC for XLM using Binance. Thus, in order to begin, you first need to acquire some Bitcoin (BTC)…
Buy Bitcoin: You can do this via the following self-explanatory services:
Click here for a detailed guide on buying BTC in the UK, including many more options.
Step 2: Bitcoin -> Stellar Lumens
UPDATE: Binance is only accepting a limited number of new users per day. If you are unable to register, you could use Poloniex…
- Register for a Binance account here
- Deposit Bitcoin into your account by heading to Funds -> Deposits Withdrawals in the top menu
- Click the + next to Bitcoin to reveal the wallet address – send Bitcoin here
- Once Bitcoin has reached your Binance wallet, head to Exchange -> Basic via the top navigation bar
- Use the panel to the right side of the screen (which shows many currency pairs alphabetically, starting AMB/BTC, ARK/BTC, etc.)
- Type XLM in the search bar
- Click the XLM/BTC link to reach the market page
- See the Buy XLM panel (pictured below), set your Buy parameters, and click the big green button
- This places an order, which can be watched via the Orders tab in the top navigation bar
- When your order is filled, the exchange is complete, and your Stellar Lumens will appear in your XLM wallet under the Funds tab
Congratulations – you bought Stellar Lumens!
- Register for a Poloniex account here, and complete basic verification
- Deposit Bitcoin into your account…
- Under BALANCES select DEPOSITS & WITHDRAWALS
- Next to your BTC balance, select Deposit to reveal your BTC wallet address
- Send BTC to this address
- When the BTC appears in your Poloniex wallet, head to the STR/BTC exchange page (Poloniex refers to XLM as STR, the old abbreviation for Stellar Lumens)
- Enter your order parameters in the Buy STR box
- When your order is filled, it will show up in your STR wallet
Store Your Stellar Lumens in a Wallet
We always recommend that you move your cryptocurrencies off of exchanges if you are planning to hold on to them. This way, you’ll hold the keys to your wallet, and therefore will truly own your coins.
Hardware Wallets (recommended)
The most secure option that we recommend is to purchase a hardware wallet: a small electronic device that is immune to many of the threats that software wallets face (such as viruses and hacks).
The most reputable and appropriate hardware wallet for most of our visitors is the Ledger Nano S, which allows you to securely store a number of cryptocurrencies, including Stellar Lumens. You can see a full list of supported cryptocurrencies here.
If you’re not ready to purchase a hardware wallet, you can opt for a software one. The official Stellar website has a great page showing you the various wallets available, including desktop, mobile, and web options.