Lumen (XLM) is the native cryptocurrency for the Stellar network– an open-source blockchain payment system. Stellar’s native cryptocurrency, XLM, powers the Stellar platform, which is known as a cross-border payment provider. The purpose of Stellar is to connect financial institutions through the blockchain and provide cheap transactions in developing markets. Stellar founded the Stellar Development Foundation in 2014 which is a not-for-profit organisation that supports the growth and developments of the Stellar Network. According to Stellar, the Stellar Development Network aims to “unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered.”
An account must also hold a small stake of Lumen (acts as a bridge currency between tokens on the Stellar network for transferring funds abroad) for every other Stellar token it holds. You have to stake XLM in order to utilise the Stellar platform, as is the case with other Proof-of-Stake platforms. Former Longtime Mozilla CEO Danelle Dixon is currently the CEO and the Executive Director of Stella Lumens (XML). You can buy XLM coin on the Swyftx Australian Cryptocurrency Exchange.
How to buy Stellar Lumen in Australia?
The simplest and safest way to buy Stellar Lumen in Australia is to purchase it on a registered cryptocurrency exchange like Swyftx. The Swyftx trading platform provides users with an easy to use trading platform with a number of handy features to improve their trading experience. To buy XLM or other digital assets, first create your account by providing a few simple details such as your name, email address and phone number. Following that, you’ll need to submit a piece of government-issued photo identification to verify your account. This step is usually completed in a few minutes, so there’s no need to wait days or weeks. Once your account has been verified, the next step is to deposit funds into your account. Swyftx supports deposits made by one of the following payments methods: bank transfer, PayID, POLi or debit card. Once your transfer has been received, you’ll get an email confirmation, and then you can buy Stellar Lumen and other cryptocurrencies.
Why use the Swyftx to buy XLM?
There are a number of cryptocurrency exchanges offering users to buy XLM coin. However, when you buy Stellar Lumens with Swyftx, you’ll enjoy our feature-rich platform with low trading fees that is suited to both beginner and seasonal traders. Our full functioning demo mode is great for beginners looking to learn and understand the crypto markets, without committing themselves financially. If you’re looking to buy, sell and trade Stellar Lumens with real fiat currency (AUD), Swyftx has a number of advanced features to improve your trading experience. These features include automatic buy and sell orders, recurring orders, easy tax reporting, debit card deposits, trade viewing charts and more. We have both a desktop and mobile app that allows you to trade crypto whether you’re at home or on the go.
