How To Buy Stellar Lumens (XLM)

This quick guide is intended for all audiences and will walk you through from start to finish the process of obtaining Stellar Lumens (XLM) in the most simple and efficient way. As of right now, there is currently no way to purchase Stellar Lumens (XLM) with USD without first buying another cryptocurrency.

Getting Started


Create a Coinbase account

  1. Click here to visit their signup page
  2. After hitting submit you will receive a verification email. Click the link provided in the email.
  3. You will then need to enter a phone number. A code will be sent to the number you entered.
  4. Next, you need to verify your identity. Address, age etc.
  5. Once you have completed everything you will be brought to the dashboard of your account. In the bottom left-hand corner there section called 'Complete Your Account'. Click on this to select your payment option.
  6. Select your payment option.
  7. There advantages and disadvantages to both approaches:

    Connecting Bank Account will help you avoid any credit card transaction fees. The downside is that it will take time to process the transaction. At busier trading times the time, it takes to process a transaction can be longer as well.

    Using Credit/Debit will allow you to purchase funds immediately. The major downside to this approach is incurring credit card transaction fees.

    The next step is completely optional but recommended for adding another layer of security to your account.


Create a Binance account

  1. Click here to visit their signup page.
  2. After hitting submit you will receive a verification email. Click the link provided in the email.
  3. After reading through the Safety Risk Notice and clicking next you will be prompted with a form to set up 2FA for your account.

Buying and Exchanging Stellar

By now your probably wondering why we signed up for both Coinbase and Binance seeing as how both of them are cryptocurrency exchanges. While both are similar both hold very different purposes in our case. We are using Coinbase as a way to exchange our money (USD) into cryptocurrency. Binance works in a similar fashion, however, Binance's sole purpose is for exchanging cryptocurrencies only. There is no way to purchase cryptocurrencies directly with USD like there is in Coinbase. Binance also supports the exchange of many different kinds of cryptocurrencies such as Stellar whereas Coinbase only supports a handful. Although it may sound confusing the process is simple and looks like this:

USD CoinbaseETHBinanceXLM

Now that we are all set up and have a good idea of the process involved we can get started!


Buy Ethereum on Coinbase

  1. Head over to your Coinbase account and click on the Buy/Sell tab.
  2. Make sure the buy tab is selected and then select Ethereum.
  3. Choose the payment method that you set up earlier and then enter in the amount of money(USD) you want to spend. It will show you how much Ethereum you can purchase for this amount.
  4. Once everything looks good you can click the 'Buy Ethereum' button. It will move you to the next step where you can view the details and confirm if everything looks good.
  5. If you used your Credit/Debit card the balance will be available immediately and you can view your newly bought Ethereum in your Accounts tab.

Send Ethereum to Binance

  1. In the top bar of Binance find the tab that says 'Funds'. Click 'Funds' to open the drop-down menu and then select 'Balances'.
  2. Once on the 'Deposits & Withdrawals' page search the list for Ethereum or simply type 'ETH' in the search field.
  3. Click the 'Deposit' button. Make sure you have selected Ethereum and not Ethereum Classic as that will not work and you can lose your coins.
  4. Copy the 'ETH Deposit Address' as we will be using that next.
  5. Back in your Coinbase account under the 'Accounts' tab find 'ETH Wallet' and then click the send button.
  6. When the modal opens enter the address that we just copied from Binance into the 'Recipients' field. Enter the amount you want to send and click 'Continue'.
  7. You will be brought to a confirmation screen where you can review and confirm the transaction.
  8. Once confirmed you can revisit your Coinbase dashboard to view your recent activity in the lower right-hand corner. The transaction we just made should have a status of pending. Once completed you will be able to see your new ETH balance in Binance.

Exchange ETH for XLM on Binance

  1. In the top bar of Binance find the tab that says 'Exchange'. Click 'Exchange' to open the drop-down menu and then for the purpose of keeping things simple we will select 'Basic'.
  2. You will be brought to the trading screen which at first glance looks a little intimidating but thankfully we don't have to worry about all of the noise. If you follow this Link it will take you to exactly where we need to go to buy XLM. If you are already on the page you can simply select ETH in the top right table and then input XLM in the searchbar. Click on the pair of XLM/ETH.
  3. At the bottom of the page, there is a box with 'Buy XLM' and 'Sell XLM' and we will be using the 'Buy XLM' portion. To keep things simple we will be selecting the 'Market' tab. For the amount, you can enter the amount of ETH you want to sell for XLM or simply press one of the options below like '100%' which simply means buy as much XLM as I can get with my ETH. If the transaction succeeds you should be able to revisit the balances page and see your new balance of XLM.

That's it! You have successfully purchased Stellar Lumens! You can now either stop here or go on to the next step. By leaving your XLM in a cryptocurrency exchange with a good reputation like Binance they are likely fairly safe. However, there have been instances in the past where hackers have targeted exchanges to try and steal coins so in the next step we can add another layer of security if you choose to do so.

Securing your XLM


Send XLM to a secure wallet

  1. Visit this link at to view all of the different wallets available.
  2. Although it's not considered a wallet we are going to choose the 'Account Viewer' option this page to keep things simple.
  3. Click on 'Generate' to generate a key pair for a new account.
  4. Make sure you write down both the public and secret key and keep it in a safe place.
  5. Copy the secret key and page it into the 'Secret key' field and then click Sign in.
  6. You should now be on your account page. Copy your Stellar public key as we will be needing that soon. Also, make note of the minimum value needed to fulfill the request.
  7. Now back on Binance we are going to head back to the balances screen.
  8. Search through the list for XLM or simply type XLM in the search bar. Once you have located XLM that should show your new balance click the 'Withdrawal' button.
  9. Once on the withdrawals page paste your Stellar public key into the field marked 'XLM Withdrawal Address'.
  10. You can include a memo but we are simply going to check 'No MEMO'. And since we want to send all of our XLM to our secure location we can simply hit the Max button to withdraw all of our XLM. Then hit submit.
  11. You will be sent an email to confirm the transaction. Once hitting confirm the link will take you to a confirmation page with a link to track its progress.
  12. Once the transaction is processed you will be able to view your new balance on the 'Account Viewer'.

You have just successfully bought and secured your Stellar Lumens! If you want to send your XLM back to Binance it is essentially the same process just in reverse.

And always, always remember to keep your secret keys in a private and secure place that where no one will be able to access them.

The only thing left to do is sit back and enjoy the ride!

Ⓒ 2018 Stellarup