Buy and SellStellar

What is Stellar?

In 2014, Stellar was born with similar characteristics as Ripple. In fact, one can consider it as a Ripple fork.

Facing disagreement with developers over some issues, Jed McCaleb, co-founder of Ripple, eventually left Ripple and began working on Stellar project.

While Ripple focuses on solutions to international bank transfers, Stellar plans to facilitate payments between individuals throughout the world.

However, both deploy nearly the same method. Lumen (XLM) is the built-in token in Stellar network, which has the maximum supply of 100 billion and is automatically being distributed to the market.

This token cannot be mined and a certain amount of it has been created by the company. Besides offering low costs and high network speed, Stellar went further than just being a cryptocurrency.

Organizations like banks and financial systems which are called “Anchors” in a network, work on communications in it. Anchors are trusted entities that perform as bridges in Stellar network.

For instance, you are in USA and your friend is in France, and you are asked to pay 100 euros to him. Through Stellar network, you can send the aforementioned amount in dollars.

The dollar will automatically change to euros in a French bank and will be sent to your friend. So, like any other cryptocurrency Stellar can be transferred among crypto wallets or other payments can be done through its network.

Trade Stellar on Bit.ir

By completing these 4 steps, you can start trading Stellar:

1. Register on Bit.ir
2. Complete KYC process
3. Deposit Rials/USDT into your account
4. Place your buy/sell order

Buy Stellar

In order to buy Stellar on Bit.ir exchange, after completing your registration and KYC steps you must make a deposit to your account. To do this, you can follow one of the below methods:

• Connect to “Shetab” payment gateway and deposit Rial into your account.
• Direct deposit by sending cryptocurrencies to Bit.ir safe wallet.

By depositing Rial, you can buy Stellar in the Toman market or you can deposit Tether (USDT) directly to your account and buy Stellar in Tether market.

• Note

The minimum buy amount for Stellar is 100,000 Tomans or 10 USDT.

Stellar Withdrawals

You can withdraw your Stellar balance directly from your account; Note that withdrawal fee is 0.01 XLM and the withdrawal amount must be at least 40 XLM.

Sell Stellar

Now that you have set up your account and completed KYC on Bit.ir, in order to sell you can change your previously bought or deposited Stellar to Rial and submit a Rial withdrawal request.

You can also send your Stellar on Bit.ir to your personal wallet. To change Stellar to Rial, you need to enter the main (Rial) market and choose Stellar/Rial pair. Next, enter your desired amount and price. When your order gets filled by the market, your Rial balance will increase and you’ll be able to withdraw it.

Note that selling Stellar has the same methods as buying it, in which you may choose between limit and market order. The main difference here is that through market, your order gets filled instantly; But by submitting a limit order, your order will trigger only if XLM price matches the one you entered previously.

Why choose Bit.ir?

Bit.ir as a leading platform in blockchain science and secure storage of your assets, provides best prices and lowest fees for its users to trade cryptocurrencies. Also, users can place their orders through Bit.ir mobile application.