What is Stellar Lumens (XLM)?
XLM is the cryptocurrency used by the Stellar distributed ledger, which facilitates cross-asset transfers of value. XLM can function as an intermediary currency in transactions involving different currencies in use on the XLM network.
How do I buy XLM on Coinbase?
Coinbase customers from eligible regions can buy XLM from Coinbase and Coinbase Pro. To see which regions support trading XLM, please see our Supported cryptocurrencies page.
Purchased XLM will be displayed as an asset within your Coinbase wallet in your Accounts page on Coinbase.com or in the Coinbase mobile app.
There is no minimum purchase amount of XLM on Coinbase.
Can I send XLM to Coinbase?
Yes, however, XLM utilizes Destination Tag technology and a Memo is required to send XLM to Coinbase. Omitting or using an incorrect Destination Tag/Memo will cause a delay in crediting the transaction to your Coinbase account. Under certain circumstances, these funds may not be creditable.
For more information on Memos, visit our help page.
Is there a minimum amount to send?
There is no minimum amount required to send funds to Coinbase. However, most exchanges charge a minimum of 2 XLM to send XLM. Sending XLM from Coinbase requires a minimum send of 2 XLM.
Please note, Coinbase does not support Federation for XLM.
What is a Memo?
A memo is type of Destination Tag that is used with XLM transactions. To send XLM to Coinbase, customers must use the XLM memo associated with thier XLM Coinbase wallet. Customers can send XLM from Coinbase using a memo ID or memo Text.
For more information on how Memos work, please visit our help page.
Stellar Lumens distribution
On March 28, 2017, The Stellar Development Foundation announced that they will be distributing up to 16 billion lumens (the token for the Stellar network) to holders of bitcoin.
The foundation will take a snapshot of the Bitcoin network on the first block mined on June 26, and will subsequently publish a claims page to allow bitcoin holders to verify their control of their bitcoin and claim their lumens.
Since Coinbase stores most customers' bitcoin in offline addresses, it will not be possible to prove ownership of any Bitcoin stored on Coinbase to take advantage of this distribution.
If you would like to participate in this distribution period you will first need to withdraw any bitcoin you wish to an external address you control before June 26, 2017.