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Stellar is a new digital currency that has been designed to be an open-source project, and as such, there are no centralised servers or banks involved in its creation. The network uses distributed ledger technology, which means transactions can occur almost instantly without intermediaries like banks. This makes it ideal for sending money across borders quickly and cheaply. It also has built-in security features, making it more secure than traditional currencies.
The main difference between stellar and other cryptocurrencyis that it’s based on blockchain technology. A decentralised database of all transaction records called ‘ledger’ keeps track of every single coin movement. All users have access to this ledger, so they know precisely where their coins come from and how much value they’re holding at any given time.
How can I buy Stellar
You can purchase Stellar using your bank account by going through one of two methods:
- Buy with Bitcoin: You will need to create an account with Coinbase if you don’t already have one. Once registered, go to the “Addresses” tab and click “+ Add Custom Address”. Enter the address you wish to receive payments into. Then select bitcoin as a payment method. Your wallet should now show the amount available to send. Click Send/Request Payment. Please wait until the funds arrive in your balance, then transfer them over to your Stellar Wallet.
- Purchase directly with USD: If you want to avoid paying fees when purchasing via credit card, you’ll need to use another exchange. There are many exchanges, but we recommend Bittrex because of its low trading fee and fast withdrawals. After creating an account, fund your account with US dollars after verifying your identity. Go back to the Exchange page and choose Stellarly. Select STR/XLM and enter the number of XLM you would like to trade for USDT. Press Trade Now. When complete, wait for the deposit confirmation email before transferring the XLM to your Stellar Wallet.
PayPal
Incase you do not have a bank account, you may still be able to pay with PayPal. You must verify your ID and add a billing address before being allowed to make purchases. Create a free account here. Here, set up a primary and secondary email address. Choose whether you’d prefer to be paid immediately upon completion or once per month. Set up recurring monthly payments. Ensure to check the box next to “I agree to the PayPal terms of service.”
Buying Stellar with a credit card
Credit cards work just fine too! If you’ve got a VISA or Mastercard, head to our partner site, Coinmama.com. They allow you to easily purchase crypto assets, including BTC, LTC, ETH & XRP. Simply signup, confirm your information and download your receipt to file taxes later. Next, visit Stellar.org and follow the instructions above under 2.0.
Bank Transfer
Stellar accepts bank transfers, which has enabled people around the world to participate in the ecosystem’s growth. To get started, don’t hesitate to get in touch with support@stellar.org. They will be happy to help walk you through the process. If you have a small amount, It’s easy to withdraw cash from your bootylicious account whenever you want. Just log in to your account and press the “Withdraw Cash” button. The minimum withdrawal limit depends on your country.
Where to buy Stellar
There are several ways to acquire Stellar. Some of these include;
Trading Cryptocurrencies
You can buy stellar by exchanging other cryptocurrencies such as Ethereum, Ripple, Litecoin. This is done using online platforms that facilitate peer-to-peer trades. For example, Kraken allows users to swap between different digital currencies instantly at competitive rates.
Purchasing With Fiat Currency
Another way to obtain Stellar is to convert fiat currency into Stellar. One popular option is LocalBitcoins which offers instant conversion services. Users post their desired amounts, and the platform matches buyers and sellers based on price and location.
Using Exchanges
Exchange providers offer direct access to various coins. These companies are middlemen who match investors looking to sell their holdings against those seeking to invest in new projects. Popular options include Bitfinex, GDAX, Gemini, Poloniex etc.
Conclusion
The best place to start investing in any asset class is, to begin with, something simply Once you feel comfortable with how things work, then move onto more complex strategies. Investing in Stellar is no exception. You need to start slowly and build your portfolio over time. Remember: diversification is critical. Don’t put all your eggs in one basket.
