Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Stellar Lumens. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good amount of popular and regulated crypto trading platforms, so it’s quite easy finding an exchange that has Stellar Lumens. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Stellar Lumens in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Stellar Lumens in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Stellar Lumens, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Stellar Lumens.
If you’d like to know more about the exchanges we like, check our comparison of the cryptocurrency brokers.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy Stellar Lumens, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy Stellar Lumens
The final step is to go to their asset list, find Stellar Lumens, navigate to the buy section, and then trade your AUD for some XLM. Once you’ve bought Stellar Lumens, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy Stellar Lumens (XLM)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
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How to Sell Stellar Lumens
If you’re thinking about selling Stellar Lumens, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on Stellar Lumens in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell Stellar Lumens for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Stellar Lumens in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy Stellar Lumens with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Stellar Lumens. Have a look on their site first, you might be lucky.
How to buy Stellar Lumens with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Stellar Lumens with your credit/debit card.
About Stellar Lumens
Stellar (XLM), a peer-to-peer (P2P) decentralized network was established by the Stellar Development Foundation. The network was launched by the Stellar Development Foundation in 2015. It was created to connect financial systems around the globe and provide a protocol that can be used by financial institutions and payment service providers. It is designed to quickly transfer financial resources reliably and at minimal cost. Stellar allows people to connect with banks and payment processors. It allows users create and send multiple types cryptocurrency.
Foundation is the network's native digital currency XLM or Lumens. XLM can be used to pay transaction fees and as an intermediary currency. It works as follows: Money is converted quickly into XLM, and then into the requested currency.
Stellar's payment protocol uses distributed ledger tech, which is an open-source development. It is community-owned and distributed within its community. Stellar's crypto asset makes cross-border transactions easier by eliminating the slow process and high fees. XLM cares more about individuals transferring money that it does institutions. Stellar allows you to send money fast and cheaply around the world.
Stellar is a cryptocurrency that acts as a decentralized exchange and marketplace. It also has an orderbook that tracks Stellar asset ownership. Users can manage their buy/sell orders, and choose the assets they want for settlements. XLM is a cryptocurrency with a low transaction fee that can be used to reduce transaction fees.
The network is safe. To stay on the network's active side, XLM holders must have at least one token. This nuance has a global purpose: to efficiently execute network transactions and take as little time as possible. Lumens protects against flood attacks and makes microtransactions unprofitable for hackers. This protects Stellar Network from serious threats.
One sentence summarizing the Stellar (XLM) benefits is:
- Simplicity: This is both in terms of the simple currency exchange process and the ease of accessibility. XLM makes it possible to seamlessly complete all transactions for both the sender and recipient. To join Stellar Network, all retail users will require a stable internet connection and Lumen-enabled Software.
- Stellar's database allows for decentralization. Multiple authorities control Lumens movement. Transactions are authorized by the community. All data are stored on Blockchain and can be accessed at any time.
- Stellar's consensus mechanism allows for fast transaction confirmation and transfer speeds. Transactions take around 3-5 seconds. Stellar's consensus system makes it possible to confirm transactions. This makes it much quicker than bank transfers or cross-border transfers. Stellar Blockchain supports thousands of transactions per second making it possible for smart contracts and multi-signatures to be used.
- Stellar Blockchain has lower translation costs than other methods. It has a fixed annual inflation rate of 1%.
In simple terms, Stellar is an open network that allows money storage and movement. It was launched on July 2014. It was launched in July 2014. Stellar changed its priorities quickly to connect financial institutions through blockchain technology.
Lumens, which is the network's native token, serves as a bridge that makes it easier to trade assets between countries. All this is to challenge existing payment providers who often charge high fees for similar services.
This might sound familiar. This may sound familiar? Stellar was originally created on the Ripple Labs protocol. The blockchain was created by the hard fork and subsequent rewriting.