What is Stellar lumens?
Stellar is an open-source network and protocol aiming to provide efficient and low-cost global financial
The network allows cross-border transactions between any pair of currencies. Lumens (XLM) are the native
the Stellar network that help to secure the network and provide liquidity for transactions. One lumen is a
unit of a
digital currency, like a bitcoin.
How to sell Stellar lumens?
Lumens can be bought on cryptocurrency marketplaces. Simply open an account with one and verify your
duration of the verification process can take from minutes (by showing your ID to an agent using videochat)
several weeks. After successful verification you can transfer money to the marketplace with your preferred
method to sell Stellar lumens. Additionally, you may also need to setup a wallet to store your lumens if your
marketplace does not provide a wallet service.
Where to sell Stellar lumens?
There are two major types of marketplaces that offer lumens.
Exchanges resemble traditional stock exchanges (e.g. New York Stock Exchange) where
individuals can trade
directly with other buyers and sellers. Cryptocurrency exchanges thereby employ a matchmaking algorithm
responsible for determining the price of lumens and finding enough buyers and sellers. As a result, there is
personal contact between buyers and sellers. Exchanges are tailored towards the needs of professional
is reflected in their features and user interfaces which may be confusing for beginners.
Brokers, by contrast, offer lumens out of their own asset stock. This means that when you
sell Stellar lumens
broker, there is no transaction between two individuals and no matchmaking algorithm, but only a transaction
you and the broker. Cryptocurrency brokers align their prices on current marketplaces, but charge a markup
markdown that is more expensive than trading fees charged by exchanges. Their services are usually
In addition to exchanges and brokers, you may be able to sell Stellar lumens on peer-to-peer (P2P)
individuals can trade lumens directly between each other, without an intermediary like an exchange or
However, most P2P directories do not list lumens.
What to consider when selling Stellar lumens
After learning about cryptocurrency marketplaces you might wonder: “What is the best marketplace for me?”
assured, Cryptoradar has you covered: We list the best places to sell Stellar lumens from all over world. All
have to do is define what’s important to you and use our filters to find an exchange or broker of your
Verification: Most marketplaces require identity verification (e.g. through a passport copy
as well as a copy
recent utility bill) before you can sell Stellar lumens. This process can take anywhere from a few minutes to
Wallet Service: A lumen wallet is a piece of software to store your lumens. Some
marketplaces have a
beginner-friendly, built-in wallet service where you can store your lumens. However, storing lumens in a
you manage yourself is usually a safer option, but it requires some learning effort. You can find more
about different types of wallets here.
Prices & Fees: The price of a lumen is determined by supply and demand and will rise or fall
depending on the
of people willing to sell or sell Stellar lumens. Exchanges usually have lower prices and fees than broker
Additionally, there may be fees for depositing and withdrawing fiat and cryptocurrencies.
Payment method: Before you can sell Stellar lumens you need to deposit money on a
fewer payment methods such as wire transfer, while broker services may offer a multitude of faster payment
such as credit card or Skrill.
Security: Before selling cryptocurrencies, or any other financial investment, the security of
taken into consideration. Cryptoradar helps you filter marketplaces based on security features like
authentication (2FA) or cold storage. Also, we advise you to not keep significant amounts of fiat (USD or
cryptocurrencies stored on marketplaces, as they are frequently targets of cyber attacks.
When to sell Stellar lumens?
Is now a good time to sell Stellar lumens? We don’t know. However, if you are looking at a specific price at
would like to sell Stellar lumens, we can help you to not miss a favorable opportunity: sign up for a Cryptoradar
account and set up a price alert to be notified when lumens trades below or above your target price.