Introduction
Here is your ultimate guide to trading Stellar Lumens (XLM) on the eToro online investment platform. Stellar Lumens is a popular cryptocurrency that has gained attention due to its fast transaction times and low fees. In this detailed and regularly updated guide, we will cover every aspect of trading XLM on eToro.
We will also provide you with a step-by-step guide on how to buy and sell XLM on eToro, making it accessible for both novice and experienced traders. By the end of this guide, you will have all the essential information you need to make informed decisions when investing in Stellar Lumens with this broker.
| 🏷️ Crypto Name | Stellar Lumens |
| 🚩 Symbol | XLM |
| 💰 Minimum Investment | $10 |
| 🏷️ Buy/Sell Fee | 1% |
| ⌚ Market Open | 24/7 |
77% 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.
How to Buy/Trade Stellar Lumens on eToro?
Here are the basic steps for buying or trading Stellar Lumens (XLM) cryptocurrency on the eToro online investment platform:
- On your eToro dashboard, click “Trade Markets”.
Clicking "Trade Markets" on eToro - Select “Crypto”.
Selecting "Crypto" on eToro's Markets screen - Scroll down to look for “XLM”.
Looking for Stellar Lumens on eToro's list of crypto assets - Click “Buy” and set the amount you want to invest.
 on eToro's platform.webp)
Buying Stellar Lumens (XLM) on eToro's platform - Click “Open Trade”.
Executing XLM buy order on eToro
Stellar Lumens Wallets
You can save and store your XLM or Stellar Lumens on a wide range of digital and hardware wallets currently available. Some examples include the Ledger Nano S hardware wallet and the Lobstr mobile and web wallet.
Minimum Amount for Buying XLM
In order to buy the XLM token via the eToro platform, you'll need to place a minimum investment amount of $10.
Important: The minimum investment amount for XLM on eToro may vary depending on the region due to varying rules and regulations. It's recommended that you check the terms and conditions on eToro's website or contact their customer support to determine the minimum investment amount for XLM in your region. This will ensure that you have accurate information and can make informed decisions when investing in this cryptoasset.
How to Sell Stellar Lumens (XLM) on eToro?
To sell your Stellar Lumens on eToro, you will need to close your open position. This can be done by going to your portfolio, selecting the open XLM position, and clicking on "Close Trade" or the red X button. If you have multiple open XLM positions, you can choose to close specific positions or all of them.
After closing the position, any profits or losses, along with your initial investment, will be credited back to your account. It's important to note that this process is commonly referred to as "closing" a position rather than "shorting" in trading, which typically involves selling an asset that you don't own in the hopes of buying it back at a lower price.
Fee for Buying or Selling Stellar Lumens
When you buy Stellar Lumens on eToro, you become the owner of the asset. You also need to be aware that you will be charged with a 1% fee for buying or selling XLM tokens. This fee is already included in the market price shown when you open or close a position. It means that has been added to the Bid-Ask spread of the market price.
Take note of this: When you open a new position, you will initially see a loss in the position. This is because the displayed Profit & Loss (P/L) includes the 1% buy fee that you paid and the additional 1% sell fee that you will need to pay when closing the position.
How to Copy Stellar Lumens Traders on eToro?
In order to copy other Stellar Lumens traders on eToro, you need to open an account first and complete the verification process. This includes providing your personal information, verifying your identity, and completing a questionnaire to assess your trading experience and risk tolerance.
After doing this, here are the steps to follow:
- Navigate to the platform and search for traders who are trading Stellar Lumens. You can do this by using the search bar at the top of the screen and typing in "Stellar Lumens" or "XLM." This will bring up a list of traders who are actively trading Stellar Lumens on the platform.
- Once you have identified a trader that you want to copy, click on their profile to view their stats and performance history. This will give you an idea of their trading strategy, risk profile, and historical performance.
- If you decide to copy the trader, simply click the "Copy" button on their profile page. You will then be prompted to enter the amount of funds you want to allocate to copying their trades.
- Once you have set the amount of funds you want to allocate to copying the trader, eToro will automatically execute trades on your behalf based on the trades made by the trader you are copying. This means that you don't have to actively monitor the market or make trading decisions on your own - the trader you are copying will do this for you.
XLM Copy Trading - Did You Know?
Copying other XLM traders does involve risks, and there is no guarantee that the trader you are copying will make profitable trades. However, by carefully selecting traders with a proven track record of success and by diversifying your portfolio, you can potentially minimize your risks.
Analyzing Stellar Lumens on eToro
eToro offers a variety of tools and features for analyzing Stellar Lumens and other cryptocurrencies. Some of the key tools for analyzing XLM with this broker include the following:
- Price Charts
They provide detailed price charts for XLM, which can be customized to display different timeframes and technical indicators. You can use this to identify trends and potential entry and exit points for your trades. - Technical Analysis Tools
In addition to price charts, there are also a variety of technical analysis tools, such as trendlines, moving averages, and oscillators. These tools can help you recognize patterns and potential trading opportunities in Stellar Lumens's price movements. - News and Market Sentiment
The trading platform has real-time news and market sentiment data for Stellar Lumens and other cryptocurrencies. You can utilize this so you can stay up-to-date on important developments and market trends that may impact XLM's price. - Social Trading
Using eToro's social trading feature allows you to follow and copy the trades of other successful traders on the platform. This can be a very valuable tool especially if you are new to the market or looking for new investment ideas.
How eToro Ensures the Security of Your Stellar Lumens Holdings
If you are holding Stellar Lumens (XLM) on eToro, it's important to understand the measures that this broker takes to ensure the safety of your holdings.
- Regulated by Financial Authorities
One of the primary ways that eToro ensures the security of your Stellar Lumens holdings is through regulation by financial authorities. The company is regulated by several leading authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). These regulatory bodies oversee eToro's operations and ensure that the company meets strict standards for security and financial stability. - Two-Factor Authentication
They require all users to set up two-factor authentication (2FA) to access their accounts. 2FA adds an extra layer of security to your account by requiring you to enter a code sent to your mobile phone in addition to your password. This can help prevent unauthorized access to your account and your Stellar Lumens holdings. - Secure Storage
All Stellar Lumens holdings are stored in secure, offline wallets that are protected by advanced security measures, including encryption and multi-signature technology. This means that your XLM holdings are not accessible through the internet, making them less vulnerable to cyberattacks. - Insurance Coverage
eToro also provides insurance coverage for its users' holdings. The company has a comprehensive insurance policy that covers all user funds, including Stellar Lumens holdings, in the unlikely event of a security breach. - Ongoing Security Monitoring
They employed a team of security experts who continuously monitor the platform for potential security threats. The company uses advanced monitoring tools and protocols to detect and prevent unauthorized access, hacking attempts, and other security risks.
Here's the deal:
The measures outlined above are just a few of the ways that the company ensures the safety of your Stellar Lumens holdings. This will give you peace of mind when trading Stellar Lumens and other assets on their platform.
eToro's Stellar Lumens Wallet
eToro's crypto wallet supports a number of digital currencies and the good news is that one of them is XLM. Opening an XLM wallet is free and transferring the crypto to this wallet won't incur you with any fees.
77% 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.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Benefits of the eToro Stellar Lumens Wallet
Listed below are some of the advantages of using the XLM crypto wallet from eToro:
- User-Friendly
It is very user-friendly, making it easy for both new and experienced users to manage their XLM holdings. The interface is simple and intuitive, with clear instructions on how to use the features. - Security
It has top-level security features to keep your assets safe. It uses multi-signature technology to protect against unauthorized access, ensuring that only you can access your XLM holdings. - Convenience
You can easily manage your XLM holdings without the need for third-party services or external wallets. This makes it a convenient option especially if you prefer to keep your holdings on the platform platform. - Integration with the Trading Platform
The wallet service is fully integrated with eToro's trading platform, allowing you to easily move this cryptoasset between your trading account and the wallet. This means that you can quickly and easily manage your XLM holdings without having to leave eToro.
How to Create an XLM Wallet on eToro?
In order to creating an XLM wallet, you'll first need to have an active eToro account and already bought Stellar Lumens via the online trading platform.
Next, you'll need to transfer the XLM that you bought from your eToro trading account to the eToro Money crypto wallet. This will automatically create your XLM wallet.
Once you have transferred the cryptoasset from the trading account and to your newly created XLM wallet, you can start sending or receiving XLM to or from other wallets.
Take note: While creating an XLM wallet is free, transferring the cryptoasset from the trading platform will incur a fee. In addition, you won't be able to buy XLM directly from crypto wallet or convert Stellar Lumens into another cryptoasset like Bitcoin, Ethereum or Ripple.
Minimum Transferrable XLM Amount
When transferring Stellar Lumens (XLM) from your online trading account to the eToro Money crypto wallet, the minimum transfer amount is 45.15749 XLM. This means that you need to have at least 46 XLM in your investment account in order to transfer it to the wallet.
How to Transfer Stellar Lumens from eToro Wallet to a Wallet?
If you have purchased XLM on eToro and would like to transfer it to a third party wallet, you can follow these steps:
- Obtain the Personal Wallet Address
You will need to obtain the wallet address from the third party wallet service provider. This is a unique string of characters that identifies your wallet on the Stellar Lumens blockchain. Make sure to verify the wallet address and ensure that it is correct. - Log in to eToro and Navigate to the Portfolio Page
Log in to your eToro account and navigate to the portfolio page. Find the Stellar Lumens (XLM) investment you would like to transfer to your personal wallet and click on it. - Click on "Send"
Click on the "Send" button, which is located next to the Stellar Lumens investment. - Enter the Transfer Amount and Personal Wallet Address
Enter the amount of XLM you would like to transfer to your personal wallet and the personal wallet address you obtained in step 2. - Check and Confirm the Transfer
Check the transfer details to ensure that the amount and wallet address are correct. Once you have verified the details, click on the "Send" button to confirm the transfer. - Wait for the Transfer to be Completed
The transfer from eToro to your personal Stellar Lumens wallet may take several minutes to several hours to complete, depending on the current network congestion and other factors.
Fee for Transferring Stellar Lumens from Trading Account to Wallet
A fee will be charged for transferring Stellar Lumens (XLM) from the eToro trading platform to the eToro Money wallet. The fee is currently set at a rate of 2% per transfer, which is deducted in the form of units. This means that if you transfer 10000 XLM from your eToro investment account to the eToro Money wallet, the fee will be 200 XLM.
It's worth noting that eToro may adjust its fees at any time, so it's always a good idea to check the current fee structure on eToro's website before making a transfer.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.