Kraken
With a market cap of $6,813,626,758.00 USD, Stellar ranks as the 27th largest cryptocurrency by market capitalization in the world. It operates on the XLM network blockchain network. It is currently trading at a price of $0.21 USD per coin and trades using the cryptocurrency code XLM.
Stellar is a highly volatile asset capable of major price swings in a single day. So before you buy Stellar, make sure you understand these unique risks as well as its tax and legal status in Canada.
If you want to buy Stellar in Canada or track its performance, keep reading to see the latest XLM price, market cap and trading volume along with a step-by-step guide on how to invest in XLM crypto in Canada.
| Current price | $0.21 |
|---|---|
| All-time high | $0.88 |
| All-time low | $0.00048 |
| 1-year price change | ▼ -49.22% |
| Market cap | $6.81B |
| Market cap rank | #27 |
| Total volume (24h) | $115.51M |
| Circulating supply | 32,427,320,877 |
| Network | XLM network |
| Where to buy XLM | Buy on Kraken |
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
The whole process of buying XLM can take as little as 15 minutes, and all you need is a smartphone or computer, an internet connection, photo identification and a means of payment. Follow these five steps to learn how to buy Stellar in Canada:
The easiest way to buy Stellar is through a cryptocurrency exchange. Choose an exchange that offers low fees, a user-friendly platform or 24-hour customer support. You can easily see top picks in our guide to the best crypto exchanges in Canada, or compare options below.
To create an account on an exchange, you will need to provide an email address, come up with a strong password and verify your identity through a process called KYC, which requires government-issued photo ID.
Once verified, you can deposit CAD using the payment method that best suits you. Common methods like Interac e-Transfer, bank wire and debit card payments are widely accepted on Canadian-friendly exchanges.
You can now exchange your funds for Stellar. On beginner-friendly exchanges, this is as simple as searching for the coin name (Stellar) or its crypto code (XLM), entering the CAD or XLM amount you want to purchase and clicking "Buy."
Consider transferring your XLM to help protect against hacks, scams, platforms going bankrupt and other risks of keeping crypto on an exchange.
We've curated a list of legitimate crypto exchanges below where you can buy Stellar in Canada to help you compare deposit methods, supported fiat currencies and fees.
To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. The higher the score, the better the exchange—simple.
The recent Stellar (XLM) price is $0.21 USD per coin, which is +2.69% higher than the previous day's trading price of $0.20 USD. Over the past 30 days, XLM's price has changed by -4.14%, from $0.22 USD to the current price of $0.21 USD. Compared to this time last year, Stellar's price has seen a decrease of -49.22% to its value as a cryptocurrency.
Stellar reached its all-time high of $0.88 USD on January 3, 2018, which was a +183,795.45% increase from its previous all-time low of $0.00048 USD, which it reached on March 5, 2015. It has since landed at its current price of $0.21 USD.
Yes, you can buy Stellar in Canada. Simply open an account with a crypto exchange that operates in Canada and supports Stellar—like the ones in our curated list above—and place a "buy" order. For example, Kraken supports Stellar and is a registered crypto exchange in Canada.
Because Stellar is decentralized, it isn't tied to any single country. That means you can buy and sell it from anywhere in the world, including Canada, as long as you have internet access.
Launched in 2014, Stellar Lumens is a cryptocurrency that aims to offer fast and affordable cross-border transactions. Its distributed payments network ensures that transactions are processed within 2 to 5 seconds, for a tiny fee, typically a fraction of a cent.
On launch, Stellar was intended to serve as a value-store and transaction method for the unbanked, allowing them to participate in traditional financial instruments that are otherwise inaccessible. However, Stellar's development team soon pivoted towards servicing financial institutions and allowing them to communicate with one another through blockchain technology.
Due to the extremely low transaction fees and high speeds, Stellar intends to disrupt current cross-border payment methods that are often slow and riddled with high fees, which becomes untenable for institutions which are making constant financial transactions.
Stellar is a hard fork of the Ripple (XRP) cryptocurrency. XLM is the native token of the Stellar network and operates as a bridge that can facilitate trades between two different currencies. It is also used to pay for transaction fees, which helps in preventing spam.
To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not CAD.
If you want to buy Stellar with Canadian dollars, you'll need to pass a Know Your Customer (KYC) check.
This is a standard security procedure for most exchanges in Canada and requires you to upload government-issued photo ID, and, in some cases, a selfie with today's date.
KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.
Several crypto exchanges in Canada accept credit cards as an instant purchase method. However, before buying Stellar with a credit card, you should be aware of the additional cost and risks involved.
For instance, credit card fees are usually higher than bank transfers or e‑Transfers. Some card issuers may even block cryptocurrency transactions or treat them as cash advances, which are more expensive. Plus, if you don't pay off your credit card within your statement period, you may end up paying interest on your card balance and losing money if the price moves quickly.
For example, if you were to use a credit card to buy Stellar, you could end up paying this:
If it took you three months to pay off your Stellar purchase at a credit card interest rate of 19.99% APR, you would pay an additional $10.82 USD in interest on top of what you originally paid to buy Stellar.
This example can help you compare the relative cost of buying Stellar with a credit card versus other lower‑fee methods like Interac e-Transfers.
You can check the table of Canadian crypto exchanges above to see which ones accept credit cards for buying Stellar, or visit our guide on buying crypto with a credit card for more details.
Yes, it is possible to buy Stellar with a debit card, as most Canadian crypto exchanges accept debit cards as an instant payment method.
To buy Stellar with a debit card, you'll typically need to go through the standard steps to purchase crypto on your preferred platform and then select debit from the list of payment options (e.g. Interac e-Transfer, debit card, credit card) before completing your purchase.
Just note that there are often higher fees for crypto purchases with cards (both debit and credit) compared to paying with Interac e-Transfer or with another cryptocurrency.
As with any investment, it is vital you understand the risks and potential upside of the asset before making any financial decision. With regards to XLM, here are a few things you should consider:
XRP and XLM have different goals, however have a very similar function – providing extremely cheap and fast cross-border payments. Stellar has a greater eye on accessibility, being open-source and is more focussed on bridging the gap between crypto and fiat currencies.
Some investors believe there is no space for both XRP and XLM to be mass-adopted, which makes it important to understand their differences in philosophy and function.
Together, IBM and Stellar created 'World Wire', a global payments system intended to rival the high fees of PayPal and other competitors.
Mobius Network and SureRemit are just a couple of the projects to have launched via Stellar. Stellar is just one of many protocols that offer this functionality, with Ethereum being a direct competitor.
Although Stellar has moved somewhat away from its altruistic vision to focus on financial institutions, assisting the unbanked and everyday user to acquire equal financial opportunity is still an important goal. However, this does mean it has less corporate and financial incentives, which could somewhat stunt the network's economic growth.
There are two main options for storing Stellar once you've bought it—keep it on an exchange or store it in your own personal wallet. Take a look at our guide to the best crypto wallets in Canada to see our top picks.
While it can be more convenient to leave your Stellar on an exchange, you're vulnerable to risk if the exchange gets hacked or compromised in another way.
It's generally much safer to store your crypto on a software or hardware wallet, which gives you full control and custody of your coins.
Like all crypto, Stellar is considered a commodity for tax purposes by the Canada Revenue Agency (CRA). That means it will be taxed similarly to other investments like stocks and ETFs.
Money you get from selling Stellar can be treated as income or capital gains. That said, the CRA will tax crypto profits differently if you're a casual Stellar buyer than if your crypto profits are classified as business income.
You can learn more about how crypto taxes work in our guide to crypto tax in Canada.
Keep in mind that buying Stellar can be risky. But if you decide to invest in Stellar, look for a regulated crypto exchange in Canada that supports XLM, and make sure to store your crypto securely.
Once you've bought Stellar, think about your short and long-term goals. Crypto markets can be very volatile, so keep an eye on Stellar's price over time to decide whether to keep it on an exchange, sell it or move it to your wallet.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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