What are Stellar and XLM?
Stellar is a public blockchain designed for rapid payments and low-cost transactions. Its native token is the lumen (XLM).
XLM has a practical role on Stellar: Accounts must hold a small amount of lumens and transactions use small fees paid in XLM. These requirements add a modest cost to using the ledger, which helps discourage spam or frivolous activity. XLM can also act as a medium of exchange between otherwise illiquid assets on the network.
How to buy Stellar in the Crypto.com App
In the Crypto.com App, the basic flow is:
- Sign up and verify your identity.
- Top up your account.
- Go to the trading screen, select Stellar and review the order before confirming your purchase.
How can you fund a Stellar purchase in the US?
You can fund your account and buy Stellar using bank transfers, debit or credit cards, Apple Pay, Google Pay, PayPal or crypto deposited from another wallet. Bank transfers include ACH or wire transfers.
The minimum amount required to buy Stellar on Crypto.com is low: You can start with as little as US$1.
What should you check before depositing XLM?
If you deposit XLM into the Crypto.com App instead of buying it directly, check the deposit details in the App before sending.
XLM deposits require both the deposit address and a destination tag or memo. In Stellar terminology, the destination tag is called Memo Text or Memo ID.
Stellar (XLM) 'account merge' transfers are not supported and are not considered deposits. Merging XLM accounts to Crypto.com will result in your funds being unrecoverable.
