How to Buy Stellar Lumens (XLM) in Canada

How to Buy XLM in Canada

XLM helps the world’s unbanked population have access to financial services

BUY PRICE1 XLM = CAD $0.00

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SELL PRICE1 XLM = CAD $0.00

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SUMMARY1. Brief Intro2. Price3. How to Buy4. Why Netcoins?5. About Stellar

Brief Intro

Stellar was invented by Jed McCaleb who also invented Ripple and its cryptocurrency, XRP. However, in 2014, McCaleb left Ripple to start the Stellar network and in November 2015 launched it to the world. Stellar is the payment network and Stellar Lumens (XLM) is the cryptocurrency. The Stellar network allows people (and institutions alike) to send money around the world in a quick, easy and low-cost way. Because Stellar is trying to remove all steps involved in sending money worldwide, people can instantly send money without delays, needing banking approvals or paying high fees. The goal is to provide the everyday person – especially the unbanked – with a better option to send remittances.

Stellar Lumens Price

Buy Stellar Lumens

XLM / CAD

CAD $ -

1H24H7D

Buy Price$0.00

Sell Price$0.00

24h High$0.00

24h Low$0.00

How to Buy Stellar Lumens

1. Create an Account

2. Fund It

Your Netcoins account can be funded with a crypto deposit, an ACH transfer or a bank wire transfer.

3. Start Trading

Buy and sell as much Stellar Lumens as you want with no slippage due to our deep liquidity.

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More About Stellar Lumens

What Can I Do with XLM?

At its core, Stellar is a payment system that allows money to move across borders quickly and affordably. By doing so it seeks to solve the issues that plague the current financial system: mainly that it’s slow and expensive to move money worldwide. Here’s an example of the existing financial infrastructure and how Stellar aims to improve it. Imagine you’re in America and wish to send money to your cousin, Ana, who lives in Brazil. You know your bank isn’t connected to her bank so you use a money service provider to send the money. It will take a few days to send money and you will be charged a high fee for doing so. Sure, you could pay a premium fee to expedite the process but it’s not ideal. This is where Stellar comes in. Stellar is a decentralized platform connecting people, payment services and banks together. By collaborating, people can easily move money anywhere around the world at low costs.

Is How Much XLM Can I Buy?

You don’t need to buy a lot of XLM to get started! You can buy fractions of an XLM. In fact, the smallest possible unit of XLM is called a stroop and is equivalent to 0.000001 XLM (6 decimal places). Many beginners start their XLM journey by accumulating small amounts of XLM. You can start as small as $10, or invest up to $10 million with Netcoins.

Why Buy XLM?

When sending money around the world, banks will be involved in the process of approving, exchanging currencies and sending money. The more complex the chain of banks involved, the more complicated, expensive and time-consuming the process becomes. Stellar on the other hand is a payment network looking to remove all the barriers for sending money worldwide. It’s allowing people to send money to each other even if they don’t have bank accounts. In this way, Stellar is solving the remittance problem that exists today. Lumens was the cryptocurrency that was created from this initiative.

How Do I Store My XLM?

You can buy XLM from crypto trading platforms, like Netcoins, and leave your XLM inside the platform. However, there are much safer options to storing your cryptocurrency as leaving them in exchanges can expose them to certain risks like hacking and theft. The safest option to keeping your XLM secure is to transfer them into a crypto wallet. A crypto wallet is a type of digital wallet that is used to send and receive crypto, similar to a Google wallet or a physical wallet

FAQs

WHY BUY Stellar Lumens?

XLM is a great way for investors to diversify their cryptocurrency portfolio by having a mix of traditional (stocks, bonds, etc) and decentralized (XLM) assets. People buy XLM for three main reasons: Trading of currencies/assets across borders is quick and affordable It’s trying to expand financial inclusion by reaching the world’s unbanked Offers cheap transactions (every transaction costs 0.00001 XLM) Another reason investors like XLM is because of its supply. At first, the Stellar Foundation had over 100 billion lumens (XLM) but burned around 50% of all lumens, decreasing its total supply cap to 50 billion.

WHY IS KYC (VERIFICATION) REQUIRED?

Netcoins USA is a licensed money service business under FinCEN, we adhere to the strict guidelines set by them for Money Transmitter Businesses. We are required to have a Know-Your-Customer (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers, as per American regulations

WHAT DO I NEED TO PROVIDE FOR YOUR VERIFICATION PROCESS?

You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process.

HOW CAN I FUND MY ACCOUNT?

Your Netcoins account can be funded with a crypto deposit, regular ACH, ACH pre-funding or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy XLM in the US.

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