All emerging blockchain platforms are built on three winning combinations: higher transaction speed, scalability, and lower transaction costs than their predecessors. The stellar blockchain is in the same league as its XLM cryptocurrency.
Steller allows users to easily store and transfer value with low fees and no risk of chargebacks. It also makes international payments quick and easy. Let’s see what else Steller XLM has to offer.
What is Stellar?
Also known as Stellar Lumens, it is an open source decentralized digital currency protocol to transfer fiat money at low cost that allows for cross-border transactions between any currency pair. It provides a low-cost, secure, and high-speed platform to transfer money around the world.
The network uses a consensus mechanism to verify and regulate money movements. The consensus mechanism guarantees the elimination of double spending and permanent control of all transactions on the network. The consensus process is achieved through a process of “trusted nodes” that conduct operations in “fair”, “according to the rules” and “trusted” modes.
It was developed by a group of finance and technology experts with a mission to make money more accessible to people around the world. It is designed to be used as a digital currency and platform for distributed applications.
Advantages of buying Stellar (XLM)
Bearish views on Stellar (XLM) are prevalent on several crypto finance websites, although most analysts are positive about it. The cryptocurrency overview provides an overview of the benefits of XLM to determine if it is a good investment:
- After hitting the lighthouse of nearly 4 million users for nearly a year, Stellar’s account total has grown in its first quarter report. The increase was significant in several areas. The number of payments increased by 160.49%, while Stellar’s DEX usage increased by 196.26%.
- There are many exchanges that list XLM as a cryptocurrency, so it is fortunate that it is quite well recognized. XLM can be found on eToro, Huobi Global, CoinTiger, FTX, OKEx and Binance.
- Many novice investors overlook trading volume as a technical indicator. When the market goes up, it is usually accompanied by an increase in trading volume, and Stellar Lumens (XLM) has recently seen an increase in trading volume.
Advantages of using Stellar
Here are the benefits of using Stellar:
- Excellent reputation. The team is used to keeping promises. They have been in the business for years and have a proven track record of delivery.
- Flexibility. The platform is very flexible, allowing users to create accounts for different purposes, such as a savings account, loan repayment account, or even a business account.
- Ease of use. The platform makes it easy to create an account and send money. You don’t even need to know how to sign a transaction.
- Low commissions. Even though the network is decentralized, low fees are charged for sending or receiving money. This is different from most other cryptocurrencies, where you can be significantly charged for sending money or accepting a transaction.
Read also: Top 10 Blockchain Platforms To Watch In 2022
Now that you know what Stellar is and what it can do, let’s see how and where you can buy it. Buying Stellar Lumens with a trading platform is the simplest method. It is essential to distinguish between platforms that allow you to keep your Lumens and those that allow you to earn on price changes but are less favorable to withdrawing tokens. The Changelly digital asset exchange, for example, is a popular choice for advanced users to buy or trade cryptocurrency.
The value of cryptocurrencies will only increase in the months and years to come. The question is, what should you buy when you start investing in cryptocurrencies? At the moment, the focus is mainly on Bitcoin and Ethereum. However, Stellar is a promising cryptocurrency that offers many advantages over other digital currencies. It is easy to use and offers low fees, which makes it a good option for small and large transactions. Buying cryptocurrency and holding this coin can bring you long-term benefits as it is a great investment for the future of the cryptocurrency market.