XLM/USD - Stellar US Dollar

Stellar Lumens is a decentralized protocol that aims to address the bottlenecks surrounding cross-border transactions. Founded by Jed McCaleb, one of the brains behind Ripple Labs, Stellar Lumens seeks to enable the seamless transfer of digital currencies to fiat money domestically and across regions in a low-cost and energy-efficient manner. Discover more about what crypto is and how it works in our Academy.

The best means to buy Stellar Lumens (XLM) is through a crypto exchange or broker. Popular exchanges like Binance, Coinbase, Huobi Global, and Kucoin offer XLM trading and investing. Popular crypto brokers like eToro also support buying and selling of Stellar Lumens.

Stellar uses a different consensus protocol called Stellar Consensus Protocol (SCP), which radically differs from the PoW algorithm known with cryptocurrencies like Bitcoin or Ethereum. It is also impossible to mine Stellar Lumens as all the tokens have been pre-mined during launch. The only way to get free XLM is through airdrops or crypto faucets.

Stellar Lumens is primarily used to transfer digital currencies to fiat money locally and enable cross-border transactions. The asset allows users to transfer any form of accepted currency quickly across borders without paying any significant amount in transaction fees.

Stellar Lumens are stored on digital wallets like all other cryptocurrencies. Wallets that support Stellar Lumens include hardware wallets such as Ledger Nano S and Trezor. Software wallets for Stellar Lumens include Keybase, Solar Wallet, Lobstr, Stellar X, Tangem, and BitGo. Web wallets like Coinbase, Blockchain.com, Litemint, Stellarport, and others can also store Stellar digital assets.