Getting started with Stellar

The first thing you’ll need to do anything on the Stellar network is an account. Accounts hold all your money inside Stellar and allow you to send and receive payments—in fact, pretty much everything in Stellar is in some way tied to an account.

Every Stellar account has a public key and a secret seed. Stellar uses public key cryptography to ensure that every transaction is secure. The public key is always safe to share—other people need it to identify your account and verify that you authorized a transaction. The seed, however, is private information that proves you own your account. You should never share the seed with anyone. It’s kind of like the combination to a lock—anyone who knows the combination can open the lock. In the same way, anyone who knows your account’s seed can control your account.

Receive Lumen (XLM)

To receive, share your Stellar public key with the person or service that wants to send. The account must first receive a minimum of 1 Lumen (XLM) to be created.

Minimum balances help protect the network from the creation of spam accounts. You can fund an account by sending 1 lumen to it. Unfunded accounts cannot establish trust lines; each trust line requires a 0.5 lumen reserve in addition to the 1 lumen minimum balance. To establish trust lines with three anchors, a user must retain a 2.5 lumen balance in reserve, for example: min balance 1 lumens + (0.5 lumens * 3 anchors) = 2.5 lumen reserve.

Add a Trustline to Your Stellar Wallet

In order to hold a balance of a specific asset, you first need to add a trustline for that asset in your wallet. Adding a trustline is the equivalent of telling the Stellar network that you trust that asset and it is ok for other wallets to send you that asset.

Your wallet MUST be funded with XLM in order to add a trustline. If you do not have any XLM in your wallet, you will not be able to add trust. To fund your wallet with some XLM, you can receive a XLM payment.

How to :

Ziggurat (ZIG) token on Stellar – Set up, buy, trade, swap using Lobstr wallet

ZIG token in Stellar blockchain

ZIG token is now available also in Stellar blockchain. This will provide our user with superior transaction fees what are only a small fraction of ERC20 type tokens transaction fees. Also transaction is taking only few seconds.

ZIG token address in Stellar blockchain is GAFXW32VI2IHYS5GTBKMLNA5F4YLZ7OYUXXFKTU3JZHRTCD33KGZPVFC

This is the same address you must add trustline in your wallet application to accept or buy ZIG tokens.

Initially total amount of ZIG tokens together in ETH and Stellar chains was same 531M, so no additional tokens were emitted. Sending tokens back to ZIG address will burn them and reduce total number available. This is giving a chance to play on long position for token price rise. At the moment total tokens amount is 530,998,269.

Ecex Exchange is serving as anchor between ETH and XLM blockchains allowing our customers to deposit and withdraw in both chains and this way swap between ERC20 and Stellar representation of ZIG tokens.

You can see more details about ZIG token in stellar explorer https://stellar.expert/explorer/public/asset/ZIG-GAFXW32VI2IHYS5GTBKMLNA5F4YLZ7OYUXXFKTU3JZHRTCD33KGZPVFC

Ecex Exchange related topics

If you withdraw then:

  • Destination account must be activated stellar account
  •  If you withdraw Stellar-based assets (tokens) then destination account must have trustline opened for this asset

If you deposit then:

  • All deposits must go to account GCHUPLP4FRFJVJC3TBFZWAKVUDK63PZ5WA7M4ZPSQMJVGDTJSO2C5XMD
  • You MUST  set memo field to your Ecex Exchange account number

You can find needed information on depositing page

For Stellar based tokens (ABDT, XIR etc.) use same deposit address as for XLM. See also video guide: How to deposit Stellar

Useful links