Simple ways to Buy Stellar Lumens with Credit Card

Frequently asked questions

1. 1. What is Stellar Lumens (XLM)?

   Stellar Lumens is a major cryptocurrency project, run by a non-profit foundation. The Stellar Development Foundation was founded in 2014 to run the Stellar Lumens project, with XLM having been created as a cryptocurrency token for the platform.

2. 2. How do I protect myself from scammers?

   Keeping your Stellar Lumens off exchanges is an important part of keeping your holdings safe. Store your Stellar in a wallet and never share your private keys or login details with anyone and make sure they are not stored on a device that is connected to the internet.

3. 3. Why do people choose credit cards for Stellar Lumens purchases?

   There are a variety of reasons that people choose credit cards for Stellar Lumens purchases, but possibly the most compelling is that they are simply widely available. Of all payment methods, credit cards are probably the most commonly used, certainly in the western world. Credit cards are also almost universally accepted online, which makes them ideal for Stellar Lumens purchases.

4. 4. Are credit cards the most popular payment method for Stellar Lumens?

   While there is no official data on this subject, it is probable that credit cards are used more than any other payment method for Stellar Lumens. Credit cards naturally suit internet transactions, and considering that 99.9% of Stellar is purchased online, credit cards are the natural payment method for this purpose.

5. 5. Why might you avoid using a credit card for Stellar Lumens purchases?

   There are several reasons that you may avoid using a credit card for purchasing Stellar Lumens. The first could simply be that you are unable to gain access to a suitable payment method, possibly due to your age or credit history. Consumers also consider credit cards to be disadvantageous due to the interest rates that they attract, although these can be avoided by paying off the balance straight away. Furthermore, using credit cards can potentially make you vulnerable to identity theft. This shouldn't be an issue if credit cards and computers are used responsibly, but it is something to be aware of.

6. 6. Why does Stellar Lumens exist?

   Stellar Lumens is simply intended to be an improvement on Bitcoin. This digital payment system is run as a completely non-profit entity, and features a raft of innovative technology.

7. 7. Is there a minimum transaction amount associated with Stellar Lumens?

   In theory, it is possible to send any transaction amount via Stellar Lumens. But it should be noted that some exchanges will set a minimum transaction amount, and this must be adhered to.

8. 8. What is a Memo and how does it relate to Stellar Lumens?

   Memo is a destination tag that is important in the adequate functioning of the Stellar Lumens platform. When using Stellar Lumens for transactions, consumers must use the memo they have been provided to make purchases from their personal wallets.

9. 9. What do I do if I forget my Stellar memo?

   This shouldn't be considered the end of the world, but it should also be noted that losing a memo can cause issues with recognising and locating transactions. If this issue occurs, users of Stellar Lumens are recommended to access the payment locator on Stellar.Expert. It is also generally advisable to send a small transaction as a test before making any major payments.

10. 10. How can I be certain that the Stellar Development Foundation is a non-profit?

    The Stellar Development Foundation has been registered as a non-profit entity, and features no stocks or shares whatsoever. It doesn't have any shareholders, and doesn't pay out value or dividends, but it does pay taxes in common with any corporation.