Want to buy Stellar’s Lumens with full-fledged privacy? Keep reading to find out how!
Most exchanges would require you to sign up and go through the whole charade of getting your account verified.
This is why you need CoinSwitch. CoinSwitch allows you to transact anonymously without setting up a user account. That’s not all.
The transaction speed on CoinSwitch is incredibly fast and allows you to convert your crypto coins or purchase coins within minutes. The only exception is when the amount in question is too large.
Another way to maintain your anonymity is to use a credit card. And not just any credit card but one that has a pre-fixed limit which you can easily get at stores. This does not require you to fill up any real details and helps you maintain anonymity.
While it is not possible to purchase Stellar on CoinSwitch directly, you can always purchase Bitcoin, Ethereum, or some other popular Altcoin and convert it to Lumens.
This works perfectly because CoinSwitch is the largest cryptocurrency aggregator and tracks the data from all the major exchanges fetching the best exchange rate at any given time.
So if you were to purchase Bitcoin and perform a BTC to XLM exchange, you would get the best rate possible. And, there are zero or minimal transaction and withdrawal fees on CoinSwitch.
Need information on Stellar (Lumens) before you purchase?
CoinSwitch has got you covered. CoinSwitch has an abundance of resources that you can peruse before you purchase Lumens.
What is Stellar?
Stellar is a platform built on a distributed hybrid blockchain that allows cross-asset to transfer at very low transaction costs. This allows people across all income levels to finally access low-cost financial services. This is why it is such a hit with banks and other financial institutions and a direct threat to Ripple. Stellar allows:
• Mobile payments
• Micro payments
• Mobile branches
What are Lumens (XLM)?
Lumens are native token used on Stellar. Just like Ether is the token on Ethereum. Lumens help to facilitate multi-currency transactions and play an anti-spam role.
XLM is the digital intermediary between different currencies which allows for transactions to occur at low cost. To prevent DoS attacks, a small fee of 0.00001 XLM is associated with every transaction. This fee doesn’t affect transactions but prevents scammers from committing fraud as it quickly adds up.
The fee collected is redistributed and added to an inflation pool which releases Lumens at a 1% rate each year.