Stellar is an other promising use case of blockchain technology for decentralized financial system. Just like Ripple, adoption of stellar is also growing. The promise of less transaction time & cost than Bitcoin over Stellar’s network is a key reason of it’s growth.
The currency of Stellar network is Lumens with the symbol of XLM and it’s current market capitalization is over 9 billion USD. XLM holds the 9th rank on top capitalized cryptocurrencies at the moment & it’s priced at $0.53 USD appx. It’s one of the most lucrative crypto assets under $1 USD at the moment & as soon the Stellar network will announce any major breakthrough in a partnership with any leading financial institution, it’s value is bound to go somewhere near Ripple’s. Which means, Stellar can touch $3 USD or go above that in very near future.
Just like Easypaisa, JazzCash & other such options for Pakistan, a real use case of Stellar Lumens is the reach to unbanked population. Buying any cryptocurrency in Pakistan is not that easy. With very limited access to online payment options, you would need to get hold of some Bitcoins first. Follow the guide to signup over Bitcoin & other cryptocurrency exchanges (if you haven’t already) and then follow the below steps to buy Stellar Lumens (XLM) from the easiest accessible crypto exchange of Binance.
How to Buy Stellar Lumens (XLM) From Binance
- Sign in to your Binance account
- Go to Exchange > Basic
- Type XLM in the search box at your right side (XML is the symbol of Stellar Lumens) & click over it. This’ll open up the Lumens buying/selling options.
- Right below the graph in the center of your screen, you’ll find Buy XLM & Sell XLM buttons
- This is the section of Binance trading platform where you can buy Stellar with 3 sets of options:
- Limit: with limit option, you can set your preferred buying price of Stellar. Your buying order will only get processed if your preferred buying bid is hit.
- Market: with market option, you can buy Stellar at the available price. (recommended for new users). Simply enter the amount of Stellar Lumens you want to buy & the trading platform will execute the trade right away.
- Stop-Limit: this option is only for the advance users. Only those, who’ve experience in financial market tradings, should use it. So, i’m not going to explain it because if you’re an experienced user, you don’t need an explanation & if you’re not an experienced user, it NOT for you!
Once you’ve completed your trade, you can visit Funds > Balance section of your Binance account to verify your Stellar (XLM) purchase.
So, now you’ve converted your Bitcoins into Stellar (XLM). I hope your investment gets you the returns you’re expecting! At the time of writing this article, Stellar is priced at $0.53 USD or PKR 59 appx. Let us know how much you’ve bought the Stellar for & how much gains you’re expecting, in the comments section below.