Stellar Lumens has become one of the most popular cryptocurrencies in the last few years, since it was first envisaged by Jed McCaleb, founder of Mt. Gox and co-founder of Ripple. By January 2015, Stellar had attracted nearly 3 million registered user accounts, and the token has since gone from strength to strength.
One possible payment method for purchasing Stellar Lumens is credit card, and indeed this is extremely popular. So in this article we’re going to assess how viable it is to buy Stellar Lumens via credit card, and also compare the payment method to some of the others available.
There are multiple online platforms to buy Stellar in a secure and easy way. We’ve chosen the top place so you can start right away and get XLM in just a few minutes, regardless of your experience level. Please follow our step-by-step guide below.
The first step consists in creating a free account with our recommended platform. Visit the website by clicking the button below and start with your basic information to sign up. Depending on your location and local regulations, you might need to verify your identify.
Once your account is set up, you can go to "Deposit" and follow the instructions to fund your account with Credit Card . Enter the amount you want to deposit (beginners normally start with lower amounts), follow the steps and check your new account balance.
Your account is all set and you'll be able to trade any of the available cryptocurrencies on the platform. Select an order type to buy XLM (a market order will be fulfilled instantly). Check your dashboard for your opened positions and available crypto funds!
Stellar Lumens is one of the most special and unique cryptocurrencies, as it features a very distinct method for purchasing the token with a credit card.
Usually this is done through digital exchanges, but with Stellar Lumens there is also the option to purchase the token via user interfaces from the Stellar Lumens platform that have enabled USD deposits.
Credit cards can attract fees for purchasing Stellar Lumens, although these vary depending on the Stellar exchange and method chosen to acquire the token. However, it can be said with some authority that the fees associated with credit cards are usually around 3% to 4%. This can be a deterrent for some people choosing credit cards as a payment method for Stellar Lumens.
There are definitely advantages and disadvantages for choosing credit cards to purchase Stellar Lumens. One of the most attractive aspects of credit cards is that they attract rewards, which means you can actually make a profit from any purchases. The fact that credit cards are associated with banks is also advantageous, and this affords credit card consumers better customer service than other payment methods generally.
However, there are downsides to credit cards. Firstly, they do attract interest rates, although these can usually be avoided by paying back balances in a timely fashion. However, credit cards do tend to attract fees as well, meaning that they may not be the most affordable way to purchase Stellar Lumens.
Nonetheless, credit cards are a valid purchase method for Stellar Lumens, and one that is useful for making large lump purchases due to their convenience.