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Here’s how you can buy Stellar Lumen’s XLM easily

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Buy Stellar Lumens XLM
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Stellar Lumen’s cryptocurrency gives you a decentralized, international network which enables you to do international transactions very quickly and at a remarkably low cost. That is their goal, to make things swift and painless for you. They do thousands of transactions per second, and it typically takes only three seconds to complete one.

If you’re keeping an eye open on the cryptocurrency market, you know that Ripple has been the star (in performance if not overall price) because it’s just been doing great. This is not that much of a surprise since Stellar Lumen is, in fact, a Ripple fork (they went their own way in 2014).

It’s been a while since that happened, but you can still compare them directly and gain some knowledge. Both currencies are all about international payments (as opposed to a retail currency you can use to buy, say, cigarettes and everyday items) and transfers and they’ve been performing amazingly well.

Stellar’s token (or coin) is called a lumen. They are all pre-mined (which means they don’t need a calculation to become usable). Lumens have been airdropped to qualifying users, and there are around 20 billion lumens in circulation already. This is a huge number when you remember that Bitcoin ‘s maximum number of coins is twenty-one million only. Stellar has a hundred billion lumens available, but they are holding the remaining 80 billion for the time being.

It matters to learn how Stellar works because it affects the currency even before it hits the market. Most alt-coins serve international transactions by converting them into digital currency, sending them around, and then converting them back to fiat money. But that’s not exactly what Ripple or Stellar do.

It works like this. When you go for payment through Stellar or Ripple, the system finds a trusted intermediary that holds the funds turns them from fiat money into digital currency and then does the trick again in the target country. It sounds complicated because it is, but the system is so efficient that it all happens in seconds. It works which is why the financial world is going for it.

Here’s how you can get Stellar’s currency (3 simple steps)

Get a Stellar wallet

This is how you get started. There are several options. Each one has its pros and cons. Consider them.

  • Ledger is a market leader. It supports Lumen’s currency (but also Bitcoin, Ether, and Ripple) and it’s very safe to use. It’s un-hackable, and it will make your life so much easier.
  • Stellar Desktop Client. That’s an option as well. It sends, receives or trades the lumen currency. The software can never be as safe as a hardware wallet is, but this comes pretty close. It gives you access to the Stellar network so you can do what you need or want.
  •  Lobstr. It’s a mobile wallet, and it does a good job. You can get it on Android and IOS. It’s user-friendly and functional, but if you go for this mobile wallet (or any other mobile wallet), you need to keep in mind that security is not the best. It’s the price you pay for convenience.

Get some Stellar Lumens

This was the whole point, right? Just be careful. Stellar’s coin is currently trading under XLM, but it used to be STR, so you need to pay attention because not all exchanges have fixed that situation.

The easiest trade you will find is eToro’s Stellar Trading platform. It’s easy and convenient for sure, but you need to keep in mind that this platform will allow you to speculate on Lumen but not to withdraw your coins. Just be aware and choose right.

You also should always know that cryptocurrencies are a risk, not a guarantee.

Use your fiat currency to buy Stellar

The best way to do this, as far as my personal experience is concerned, is CEX, which has been around since 2013 and is a trusted exchange. It’s based in London and is absolutely reliable.

Buy XLM (Stellar) with Bitcoin or Ethereum

You can also buy Stellar’s XLM coin using other digital coins, and you have several options. You can use Binance, Bittrex, Poloniex or Kraken among many other exchanges. They all allow for exchange among Stellar and other currencies. They are efficient and cheap.

You can’t buy Stellar easily with your credit or debit card right now. You have to go through the exchanges. That could be different soon, but for now, it is just like that.

Withdraw your Lumens

This was the whole point. Make sure once you invest your hard earned money on lumens you withdraw them to your very own wallet from the exchange.

Keep in mind that as long as your coins are in exchange, you remain vulnerable. You could be hacked, or you could be theft victim. So plan correctly in a way in which your Lumens are always available to you in your digital wallet.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Theguruseye via Flickr

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How is the Crypto Market Changing?

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crypto market
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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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cryptocurrencies
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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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