How does the Stellar network compare to Bitcoin?
The main differences between the Stellar network and Bitcoin are the following: Stellar is based on a consensus algorithm rather than mining. This means transactions confirm in a few seconds. The supply of lumen increases at a fixed rate of 1% a year. Stellar aims to let you transact in your currency of choice (fiat or digital).
What are the fees to send or receive?
To prevent spam, each transaction burns 100 stroops (that is, 0.00001 lumens). This can result in what looks like an uneven balance in your Stellar account. The $USD value of 10 stroops as of January 2015 is approximately one two-hundred-thousandths of a penny.
Why do I need to have a secret phrase to create an account?
To add an extra layer of security, we create a "Token" from your private key which is broken into multiple peices and stored in multiple locations. One of the peices of the token is your secret phrase - and it should be stored only in your memory. We recommend your your phrase be your fathers first name plus your mothers first name, so that it is easy to remember. We do not store your secret phrase, and we cannot move money out of your account without the secret phrase, so it is extremely important to remember it.
What happens if I forget my secret phrase?
If you forget your secret phrase and have a large amount of xlm in your account, it still may be possible to recover your account. However, we will still need to recover your secret phrase in order to move money out of your account. In this case you will have pay a recovery fee, an idientity verification fee, and work with us to help guess your secret phrase.
Why is there a minimum balance?
Minimum balances help protect the network from the creation of spam accounts. There is a minimum balance of at least 5 Lumens to use this platform. Additionally if you are selling lumens and have posted a trade, you will not be able to send any money out of your account until the trande is either completed or cancelled. We keep a minimum of 5 Lumens in your account in order to be able to keep a "trustline" open with you and let you get USD credit.
How can I Buy Stellar Lumens?
You can buy stellar lumens by trading with other people in the network - you can see a list of traders trading in your local currency here. Additionally, you can funds your account by sending xlm to your address.
How am I protected from being scammed when buying or selling?
As a buyer you are almost 100% protected in any trade that you make. When a seller creates a listing to sell their xlm, we freeze the max amount of xlm in the listing to ensure they have enough xlm for the trade. Once the seller confirms that the buyer has paid, the xlm is automatically send to the buyer. Using this system, we can almost always guaranteed that the buyer will receive their xlm. If a seller does not confirm they will received the funds, the buyer can open a dispute and the xlm in the senders account will be frozen until it is resolved.

As a seller you will have to do a little more work to confirm the identify and trustworthyness of your buyers. For example, if you are accepting a bank transfer, you may want to get a picture of the buyer with a note about the bank transfer to show the bank if the buyer tries to reverse the payment. However, we will let you decide who to trust, and when to pay out.