Buy Stellar in Canada
Stellar made simple
Everything you need to know about Stellar and how to start investing in it.
+$0.00 (0.16%) past 24 hours
- Market Cap
- Circulating Supply
- 24h low - high range
- 0.1620296 - 0.1701678
Stellar is a blockchain network designed for payments. Its native coin, the Stellar Lumen (XLM), is cheap and fast. Transactions cost 0.00001 XLM (as of early March, each XLM is worth $0.17) and take between three and five seconds to complete. These features explain why XLM is advertised as a panacea for cross-border payments — and an alternative to traditional transfer services like Western Union and Wise. Stellar is also touted as a coin for micropayments — tiny payments for, say, reading an article — since the fees are such a small percentage of the transaction. This makes Stellar especially promising for those cut out of the conventional financial system.
Why Wealthsimple Crypto?
Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?
- Sign up in minutes right from your phone or laptop
- Start trading crypto with as little as $1
- No account minimums
- No clunky dashboards — just one super simple app
- Best of all: you don’t need to be an expert in crypto or blockchain to get started
What can you do with Stellar?
Stellar’s low fees and high speeds are useful for transferring money. Several apps support XLM payments, including Anclap, 0rora and Cgig. While you can also stake XLM on some cryptocurrency exchanges to earn returns, since it is based on its own blockchain, you can’t plug it into decentralized finance protocols on other platforms.
Is Stellar a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Stellar or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.
How we keep your Stellar safe
As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Coinbase Custody) for cold storage.
FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Stellar prices.
And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.
If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Stellar to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about Stellar
Want to take a deeper dive? Check out these articles about Stellar and the world of crypto.
What is Cryptocurrency?
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Top Cryptocurrencies and Crypto Exchanges
Here’s how to buy and sell cryptocurrencies on crypto exchanges and other trading platforms.
What is Blockchain? The Ultimate Guide
A quick primer on the building blocks needed to understand the basics of blockchain
Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading Stellar with just $1. It’s that simple.
XLM, also known as Stellar Lumens, is a cryptocurrency that’s optimized for payments. It’s cheap and fast, which makes it suitable for cross-border transactions, like remittance payments. XLM is similar to XRP in its design – that’s because it was also created by Jed McCaleb, the American software engineer who left Ripple Labs to work on Stellar.
As of Feburary 2022, there are 24.85 billion XLM tokens in circulation, out of a total of 50 billion XLM. In December 2019, the Stellar Development Foundation decided to give away, or “airdrop” billion XLM tokens, then about $125 million, to the public. After spammers got wind of the project, the platform that had partnered with the Stellar Development Foundation to airdrop the tokens, Keybase, cut the airdrop short. “The total giveaway amount will have been 300 million Lumens (approximately $16,000,000 USD),” it wrote.
The Foundation has previously burned coins. In 2019, it burned 55 million XLM tokens, or more than half of the supply. Aside from that, the protocol increases the number of XLM tokens in circulation at a rate of 1% a year.
You can spend XLM from a Stellar wallet, like Keybase or the Coinbase wallet, or directly from a payments app. Most cryptocurrency exchanges list the coin, and you can sell or buy XLM coins for a variety of other cryptocurrency exchanges. You can also buy and hold XLM on brokerages like Wealthsimple Crypto to speculate on its historically volatile price.
Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.
Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:
Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.
Always keep solid records of any Stellar transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
Stellar’s current market cap is 8,216,098,469.
The current price for Stellar in Canadian dollars is $0.16.
Buying Stellar with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.
From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in Stellar 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order
You can choose between two different order types when buying Stellar. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.
You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.
A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.