Stellar Lumens is the name of an open-source, decentralised protocol for a digital cryptocurrency project. The Stellar project is supported by the Stellar Development Foundation, while Lumens is the name of the token associated with the initiative. It is currently ranked 17th in terms of market cap among existing cryptocurrencies.
There are several payment methods available for Stellar Lumens; one of the most popular is to buy via debit card. So for in this guide we’re going to assess the pros and cons of how to buy Stellar Lumens with a Debit Card and compare it to other available methods, including credit cards and PayPal.
While digital exchanges are hugely popular and secure, one possible method of purchasing Stellar Lumens with a debit card that doesn’t involve an exchange is via a user interface. StellarX is one such platform, which makes it possible to purchase lumens via fiat asset issuers.
Transaction fees associated with Stellar Lumens can be summed up quite easily — there aren’t any! The only transaction fees that you might accrue with debit cards will be related to the digital exchange that you’re using, or the currency itself. Debit cards are completely free from fees.
Whether or not purchasing Stellar Lumens via debit card is the best method for you will always be dependent on your personal circumstances. What can be said firstly is that debit cards are the most readily available transaction method, and that this will obviously appeal to lots of people. Cryptocurrency can theoretically be purchased with cash, but in practical terms this is extremely difficult.
Debit cards are also safe and secure, and associated with the mainstream financial system. However, some people prefer to use credit cards due to the offers involved, and arguably PayPal is a more secure system, as it can be completely disassociated from payment cards. Nonetheless, debit cards are a credible and secure way to purchase Stellar Lumens.