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Stellarport cryptocurrency exchange review

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Buy and sell on the Stellar decentralized exchange and take advantage of competitive trading fees.

Launched in January 2018, Stellarport is a decentralized exchange founded with the goal of bringing Stellar to the masses. It allows users to quickly trade Stellar Lumens (XLM) and a range of other crypto assets, providing fast transaction times, no maker fees and taker fees of 0.15%.

Details

Product Name Stellarport Exchange
Fiat Currencies -
Cryptocurrencies XLM, BTC, BCH, USDT, OMG, ZRX, KIN, MOBI & more
Deposit Methods Cryptocurrency
Trading Fee None
Deposit Fees US$3 to $5 equivalent for initial deposit
Withdrawal Fees US$2 to $5 equivalent

Pros

  • Fast processing, with transactions allegedly settled in an average of five seconds
  • Also features a wallet where you can manage your XLM
  • Allows you to retain control of your private keys
  • No trading fees
  • Decentralised trading platform

Cons

  • Interface a little confusing for new users
  • No support for fiat currency deposits
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.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: None
  • Supported cryptocurrencies: 9 cryptocurrencies
  • BTC
  • XRP
  • BCH
  • XLM
  • USDT
  • OMG
  • ZRX
  • KIN
  • MOBI

Which payments methods are accepted?

  • Cryptocurrency

What is Stellarport?

Stellarport is a portal to the Stellar network that allows real-time trading on the Stellar decentralized exchange. Features Stellarport boasts of include an average transaction processing time of five seconds, competitive trading fees, a modern trading interface and the ability to trade in real time. Users also get to retain control of their private keys and funds rather than having to hand them over to a third party.

The platform even features a wallet where you can send and receive payments in a variety of cryptocurrencies, including XLM. Stellarport also supports hardware wallets for users who wish to place a higher emphasis on security.

It’s important to note that Stellarport is not in any way related to The Stellar Foundation but is a separate provider that has decided to build its platform in the Stellar ecosystem.

Available countries

A global platform, Stellarport allows users from all around the world to interact with the Stellar network. If you’re unsure whether you’ll be able to access the portal from your country of residence, contact Stellarport directly for more information.

How much will it cost me to use Stellarport?

If you’re planning on trading any cryptocurrencies through Stellarport, there are no trading fees. There are withdrawal fees though, and the initial deposit will incur a fee to cover the cost of a KYC check.

The withdrawal fee is 0.5%, plus a fixed amount equivalent to about $2 to $5 depending on the cryptocurrency. The initial deposit fee also includes a fee of about $3 to $5 to cover the cost of a KYC check.

How fast will my funds be available?

Stellar’s blockchain network settles transactions in an average of 5 seconds, with all transactions processed within a maximum of 10 seconds.

Are there any transfer limits?

No. There are no limits listed on the Stellarport website.

Is it safe to use Stellarport?

Stellarport connects you to the Stellar blockchain, allowing you to take advantage of the network’s inherent security features. As it’s a decentralized platform, you also don’t have to worry about the security risks associated with trading on a centralized exchange.

When you create an account with Stellarport, you get to retain control of your private key. This means that you retain ownership of your funds and can trade them on a peer-to-peer basis with other users.

Finally, you don’t have to complete any Know Your Customer (KYC) requirements to create a wallet, which is a useful feature for any users who value their privacy.

Customer support

If you ever have a question about how to use Stellarport or how your account works, you can access a small selection of frequently asked questions online. You can also submit a request to the support team using the online contact form.

Pros and cons

Pros

  • Fast processing, with transactions allegedly settled in an average of five seconds.
  • Also features a wallet where you can manage your XLM.
  • Allows you to retain control of your private keys.
  • Very competitive trading fees.
  • Decentralized trading platform.

Cons

  • Interface a little confusing for new users.
  • No support for fiat currency deposits.

Next steps

Once you access the Stellarport website, you can sign up for an account through one of the following options:

  • Generating a keystore file (default)
  • Generating a new key pair
  • Using a Ledger hardware wallet

Follow the prompts to create your account, deposit funds and start trading.

FAQs


At the time of writing, the author holds IOTA and XLM.

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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4 Comments

  1. Default Gravatar
    Dave
    April 19, 2018

    I have eth currency in coinbase that I would like to exchange for xlm. How do I accomplish this? This is all new to me.

    • Default Gravatar
      Arnold
      April 20, 2018

      Hi Dave,

      Thanks for your inquiry

      There is no direct way to buy XLM using ETH in Coinbase. However, this is possible through Binance. You will have transfer your Bitcoin, Bitcoin Cash, Ether (Ethereum), or Litecoin from your Coinbase to Binance. Once the currency is transferred, you may now directly exchange ETH to XLM.

      Hope this information helps

      Cheers,
      Arnold

    • Default Gravatar
      WmCraig
      April 23, 2018

      Does the exchange between Eth and XLM constitute a taxable event?

    • AvatarStaff
      Joshua
      April 23, 2018

      Hi WmCraig,

      Thanks for getting in touch with finder.

      If your transaction made a profit, then it is possible that your profit is subject to tax.

      According to the US government, crypto isn’t a currency. Instead, for most people it’s a capital asset — think stocks, bonds, investment properties and so forth.
      If you’ve heard of capital gains and wondered what those are, just think of crypto. Did you buy bitcoin and sell it later for a profit? That’s a capital gain. If you sold it and lost money, you have a capital loss.

      If you want to know more about the tax implication of cryptocurrencies, please go to this page.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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