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How to buy Stellar Lumens (XLM) in Ireland

A beginner’s guide to buying, selling and trading XLM in Ireland.

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Thinking about adding Stellar Lumens to your portfolio? These days, you can buy Stellar Lumens (XLM) on quite a few exchanges, so keep reading for step-by-step instructions on how to start trading and also how to sell this popular cryptocurrency.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy and sell Stellar Lumens

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bitpanda Cryptocurrency Exchange
Cash, Credit card, Cryptocurrency, Neteller, Bank transfer (SEPA), SOFORT
EUR, GBP, CHF, USD

36
cryptocurrencies

A European exchange which enables users to pay in EUR, GBP, CHF and USD through a variety of payment platforms.
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

27
cryptocurrencies

Disclaimer: Volatile investment product. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Copy the trades of leading cryptocurrency investors on this unique social investment platform. $50 minimum deposit.
CoinSmart Cryptocurrency Exchange
CoinSmart Cryptocurrency Exchange
Interac e-Transfer, Bank transfer (SEPA), Wire transfer, Credit or Debit Card
CAD, EUR

9
cryptocurrencies

Purchase a handful of leading cryptocurrencies with EUR and enjoy 24/7 customer support.
Kriptomat Cryptocurrency Exchange
Credit card, Neteller, SOFORT, Skrill, SEPA
EUR

198
cryptocurrencies

Finder Exclusive: Sign up with code FINDER15 and get EUR 15 when you spend over EUR 100 each month. T&Cs apply.
Buy a large selection of cryptocurrencies instantly via credit card or bank account after registering. Store your crypto conveniently in Kriptomat's multi-currency wallet.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

829
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

437
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

315
cryptocurrencies

Promo: New users earn up to USD 100 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Bank transfer (SEPA), SWIFT
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

29
cryptocurrencies

Get a Welcome Bonus of USD 15 in WXT when you sign up with Wirex through Finder. T&Cs apply.
Spend a range of cryptocurrencies anywhere Visa is accepted with the Wirex Crypto Card and earn rewards.
Revolut Cryptocurrency App
Revolut Cryptocurrency App
Bank transfer, Credit or Debit Card
GBP, USD, EUR, CAD, NZD, JPY, HKD, NOK, DKK & 9 more

21
cryptocurrencies

Buy and sell several popular cryptocurrencies through your Revolut account, set up recurring purchases and transfer it to other users. You can’t transfer cryptocurrency to anyone who does not have an active Revolut account.
Kraken Cryptocurrency Exchange
Bank transfer, Cryptocurrency, SWIFT, Wire transfer, Osko, SEPA
USD, EUR, GBP, JPY, CAD, CHF, AUD

81
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.
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How to buy Stellar Lumens: a step-by-step guide

There are two options available when you buy Stellar Lumens:

Buying XLM with cryptocurrency

If you would like to buy XLM with another cryptocurrency, here’s how you can do it.

Go to Coinbase's website

How to sell XLM

If you decide that you want to sell your XLM holdings, the process you’ll need to follow is fairly similar to the one in step 3 above. You’ll have to:

  1. Log in to your chosen exchange.
  2. Click through to the trading page and search for the pair you want to trade.
  3. Enter the details of your transaction in the “Sell” tab.
  4. Review the transaction specifics.
  5. Click “Sell XLM”.

Which wallets can I use to hold Stellar Lumens?

Some people opt to keep the XLM they buy in their crypto exchange account. While this is a convenient option that makes sure you have fast access to your crypto for any future trades, it’s a risky move. With crypto exchanges a popular target for hackers, it’s widely recommended that you move your XLM into a secure wallet that lets you control your private key.

Wallets you may want to consider include the Ledger Nano S hardware wallet, the Stellar Desktop Client and the LOBSTR mobile wallet.

For more tips on what to look for in an XLM wallet, check out our guide to five of the best Stellar wallets.

How Stellar works

Launched in 2014, Stellar 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 of approximately a single 600,000th of a cent per transaction.

To send funds on the Stellar network, you’ll need to create an account and then upload the currency you want to transfer to an “anchor”, such as a bank or remittance company. That anchor then issues virtual credit to your Stellar account, allowing you to send near-instant transfers around the world.

According to Stellar, Lumens play two main roles in the network:

  • Preventing spam. To prevent denial-of-service attacks, each transaction on Stellar attracts a fee of 0.00001 XLM. All accounts on the Stellar network must also hold a minimum balance of 0.5 Lumens, a measure designed to declutter the ledger.
  • Facilitating multi-currency transactions. Lumens facilitate trades between fiat currencies, acting as a bridge between currencies that don’t have a large direct market.

The project is backed by the Stellar Development Foundation (also known as stellar.org), which has a mission to promote global financial access, literacy and inclusion.

Keep reading about how Stellar works.

What to consider before you buy Stellar Lumens

Cryptocurrencies are highly volatile and complicated assets, so there’s a significant level of risk involved in any crypto purchase. With this in mind, you’ll need to carefully assess all the factors that could potentially have an impact on the price of a currency before you buy.

If you’re thinking of buying any XLM, remember to consider the following:

  • Supply. According to CoinMarketCap in May 2021, the circulating supply of Lumens was 23,113,746,566 XLM out of a total supply of 50,001,806,812 XLM.
  • Inflation. The initial supply of Lumens was 100 billion, but the currency is designed to be inflationary. A fixed inflation rate of 1% per year applies and all transaction fees paid on the network are recycled.
  • Distribution. Stellar.org plans to distribute the initial supply of 100 billion XLM as follows:
    • 50% given away to individuals who sign up to the network using an invitation link.
    • 25% given away to businesses, governments, institutions or non-profit organisations that contribute to the growth and adoption of the Stellar network.
    • 20% given away to Bitcoin and XRP holders during a giveaway completed in 2016 and 2017.
    • 5% reserved for Stellar.org operational expenses.
  • ICOs. The Stellar network can also be used by new crypto projects looking to launch ICOs. Mobius Network and SureRemit are just a couple of the projects to have launched via Stellar.
  • Competition. Ripple is generally considered to be Stellar’s biggest blockchain-based competitor, so check out our Ripple vs Stellar comparison to find out how these two projects stack up against one another.
  • Partnerships. Stellar’s most notable partnership has seen it join forces with tech giant IBM, but you can find more information about its other partners on its site.

The main challenge for Stellar in the months and years ahead will be whether or not it can achieve widespread adoption. Make sure you thoroughly research all the ins and outs of the Stellar network, its technology and its purpose, so you can make an informed decision about whether you should buy Stellar Lumens.

FAQs

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.

Images: Shutterstock

Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.

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