82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Register with Plus500 instantly
82% of retail CFD accounts lose money.

How to Buy Stellar Lumens with Debit Card

Open Account 82% of retail CFD accounts lose money.
By Chris Morris - Updated 21 August 2023
Stellar Logo Stellar (XLM)
Price
...
24hr ...
7d ...
Market Cap ...
Stellar Logo
Fact Checked
While all our writers independently research and evaluate every product that we write about, this post may contain references to products from our partners that we may earn commission from. This in no way affects how we evaluate them. Find out more about how we test and how we fund this site.

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.

Buy Stellar with Debit Card on eToro

eToro is one of the first cryptocurrency providers that allow you to buy using many payment methods as well as other services. The actual process is very simple as well and one of the reasons we do recommend eToro for both beginners and experts.

1

Step 1: Registration

To get started, you'll need to register with eToro. It is free to sign up and you don't need to deposit right away, which means you can get used to the platform before going live.

2

Step 2: Deposit

Once you're happy with the platform and ready to buy for real, it is time to deposit some money into your account. Click the deposit button in the bottom left, then choose Debit Card. Enter the amount you want to deposit, we'd recommend starting low before adding extra over time.

3

Step 3: Start Trading

Now your account is live and ready to go, the process is like any other CFD provider, you will need to search for the coin you want to buy, be it bitcoin, ethereum or whatever your preferred choice is. Hit the 'Buy' button and then 'Trade', make sure you understand your risk parameters before you jump in.

Start now 82% of retail CFD accounts lose money.

Other Methods of Buying Stellar Lumens with Debit Card

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.

1
Min Deposit
$ 100
User Score
5
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Visit Site
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2
Min Deposit
$ 10
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA
3
Min Deposit
$ 0
Promotion
User Score
4.8
Get insights from millions of investors, creators, and analysts
Build your portfolio of stocks, ETFs, and crypto–all in one place
No minimum deposit
Visit Site
Description:
Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.
Payment Methods:
Debit Card, Wire Transfer, Check, Bank Wire
Full Regulations:
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

Advantages and Disadvantages of Buying Stellar Lumens with Debit Card

Pros

  • The most accessible payment method of all possible sources
  • No fees associated with debit cards whatsoever
  • Straightforward to use and easily accessible
  • Don’t require a strong credit rating as with credit cards
  • More consumers can access debit cards than PayPal
  • Still have transaction protection and insurance in many cases

Cons

  • No rewards or benefits as with credit cards
  • Not the most secure if you have a significant balance in your bank account

Buying Stellar Lumens with Debit Card Fees

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.

Is Buying Stellar Lumens with Debit Card the Best Method?

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.

Frequently Asked Questions

What is Stellar Lumens (XLM)?
Stellar Lumens is the name of a cryptocurrency project, with XLM being the cryptocurrency used by the Stellar distributed ledger.
When was Steallar launched?
Stellar was founded in July 2014. It was co-authored by Jeb McCaleb and Joyce Kim. It’s mission statement is to provide cheap and fast transactions across the world.
Why do people choose debit cards for Stellar Lumens purchases?
Debit cards are widely available, and are probably the most easily accessible payment method in the world, with the possible exception of cash. However, cash isn't ideal for cryptocurrency purchases, which are typically made digitally over the internet. So debit cards fulfil many of the requirements of most consumers when it comes to Stellar Lumens purchases.
Are debit cards the most popular payment method for Stellar Lumens?
It is probable that more people utilise credit cards for purchasing Stellar Lumens than debit cards, as credit cards lend themselves to internet transactions. However, there is no doubt that debit cards will also be popular, and that they are a legitimate way to acquire Stellar Lumens.
Why might you avoid using a debit card for Stellar Lumens purchases?
The most compelling reason to avoid debit cards for any Stellar Lumens purchase is that they don't attract the sort of offers that are associated with credit cards. By using a debit card to acquire Stellar Lumens, you merely deduct money from your bank account, and derive no other benefit.
Why does Stellar Lumens exist?
Stellar Lumens is one of many cryptocurrencies that aims to improve on Bitcoin. It is a digital payment system, and one that has a unique ethos, being run by the non-profit Stellar Foundation.
Is there a minimum transaction amount associated with Stellar Lumens?
Some of the exchanges compatible with Stellar Lumens may impose a minimum transaction limit, but generally speaking there is no minimum transaction amount associated with this altcoin.
What is a Memo and how does it relate to Stellar Lumens?
Memo is a destination tag that is used with the Stellar Lumens platform. It is important, as people transacting Stellar Lumens must use the memo associated with their particular wallet.
What do I do if I forget my Stellar memo?
While memos are optional, losing them can cause some issues with recognising and identifying transactions. But there is a workaround. Users of this cryptocurrency can locate their transactions via the payment locator on Stellar.Expert. The more details you know about your transaction, the easier that it will be to locate. A good habit to get into is to send a small amount of Stellar Lumens before making any sizeable transaction.
How can I be certain that the Stellar Development Foundation is a non-profit?
The Stellar Development Foundation is a non-stock, non-profit corporation, as registered, but pays taxes in common with any corporation. Stellar Lumens does not have shareholders, does not payout value or dividends, and therefore is not motivated by the traditional concerns associated with profit-driven companies.
Before you go! Register with Plus500 instantly
Open Account 82% of retail CFD accounts lose money.