What Is Stellar Lumens (XLM)?
Stellar Lumens (XLM) is a decentralized blockchain network designed for fast, low-cost global transactions. Here are its key features:
- Speed: Transactions settle in seconds using the Stellar Consensus Protocol (SCP).
- Low Fees: Minimal transaction costs (0.00001 XLM) make it ideal for cross-border payments.
- Asset Bridge: XLM facilitates seamless exchanges between fiat and digital currencies.
- Decentralized Governance: Operated by a global network of nodes with open-source transparency.
- Spam Prevention: XLM is required for account activation (1 XLM reserve fee) and transaction fees.
👉 Explore Stellar Lumens’ use cases
Using XLM on Gem Wallet
Gem Wallet simplifies XLM management with:
- Fiat Purchases: Buy XLM via debit/credit cards.
- Secure Storage: Store XLM after paying the 1 XLM reserve fee (network requirement).
- Native Transactions: Send/receive XLM effortlessly.
Important: The 1 XLM reserve fee is non-refundable and permanently locked for account security.
How to Acquire XLM
- Direct Purchase: Buy XLM within the Gem Wallet app.
- Receive XLM: Share your unique XLM address; no memo needed.
XLM Network Fees
- Cost: 0.00001 XLM per transaction—among the lowest in blockchain.
- Purpose: Prevents spam by deterring malicious actors.
- Consistency: Fees remain stable for user predictability.
Pro Tip: Adjust fees via the "Network Fee" option in Gem Wallet.
Checking Your XLM Balance
Gem Wallet syncs with the Stellar network:
- Tap the three dots (⋮) → "View address on Blockchair".
- Review transactions or balances on Blockchair, Gem Wallet’s default explorer.
Why Gem Wallet for XLM?
- Ease of Use: Intuitive for all experience levels.
- Security: Self-custody ensures full asset control.
- Innovation: Regular updates for enhanced functionality.
👉 Discover Gem Wallet’s XLM features
FAQs
1. How long do XLM transactions take?
Transactions typically settle in 3–5 seconds due to Stellar’s efficient consensus protocol.
2. Can I recover the 1 XLM reserve fee?
No—it’s permanently locked to activate your wallet and secure the network.
3. Is XLM a good investment?
XLM’s utility in cross-border payments and asset bridging makes it a compelling option for long-term holders.
4. Does Gem Wallet support XLM staking?
Currently, XLM doesn’t support staking, but Gem Wallet offers passive income via other supported assets.
5. How do I track XLM price movements?
Use Gem Wallet’s built-in market charts or platforms like CoinMarketCap.
Conclusion
Stellar Lumens (XLM) bridges traditional finance and blockchain, offering unmatched speed and affordability. With Gem Wallet, managing XLM becomes seamless—whether you’re transacting globally or exploring decentralized applications.