Cryptocurrencies or digital currencies are probably one of the most used and talked about topics around the world in recent years. Reasons are being higher flexibility, security, curiosity, etc. Leading companies and individuals are endorsing blockchain technology and cryptocurrencies on their social media handles and other platforms.
To proceed further on the topic, we are discussing Stellar (XLM), a leading player in the market of crypto. The following paragraphs will deal with major aspects of Stellar including benefits, processes, updates, and more. So, stay through the passage and make an informed investment decision regarding crypto trading.
What is Stellar (XLM)? Brief Introduction
Stellar (XLM) is a network for transactions in digital currencies and assets domestically and across borders through decentralized open-source code. The currency of the Stellar is known as Lumen.
Users trade in Lumen on exchanges that connect banks, payment systems, and customers. Lumen provides cross-asset transfer of value, low-cost transactions, and hassle-free payments.
Stellar was established by Jed McCaleb after sewed funding from online payment startup, Stripe. Stellar Development Foundation, An NGO handles the network. Apart from Stripe, the network was supported financially by organizations including FastForward, Google, BlackRock, and others.
How does Stellar work?
Stellar facilitates transactions and trading through its currency Lumen. Lumen is the token for sending and converting the currency. During the transition from sender to receiver, currencies go through several other currencies.
To process the transaction quickly and safely, the Stellar network uses Anchors. Anchors hold the deposit and issue the required amount of credit in a foreign currency to facilitate the transaction hassle-free.
All these angles fall in the Stellar network and make the system incredibly efficient and faster.
Best time to invest in Stellar (XLM)?
Stellar price has skyrocketed in 2021. Year to date, the cryptocurrency has returned 424.4 per cent. Stellar does not appear to be slowing down in terms of trading volume, which characterises activity on a digital asset. This could be explained by the $3,495,312,612 transaction volume recorded on May 17th.
Several observers in the crypto finance field predict that Stellar will experience rapid growth in the immediate term because of its open-source nature. Other analysts say that investing in Stellar is one of the best long-term moves any trader or investor can make. As a result, September could be an excellent time to invest in Stellar (XLM), as the coin is selling at a lower price and is attracting a lot of attention from investors.
Stellar, as a fork of Ripple, has established itself in the decentralised banking arena. While Ripple exclusively serves centralised financial institutions, Stellar serves both centralised and decentralised finance customers via its decentralised applications (DAPPS).
DAPPS, in collaboration with hundreds of partners, has built an ecosystem in which XLM is utilised to settle millions of transactions every day.
Start Investing in Stellar
To start trading and investing in Stellar and other cryptocurrencies, a reputed exchange is mandatory to have a cryptocurrency account that allows you to buy Stellar in India. Crypto exchange is a broker that allows you to trade Stellar in India and other cryptocurrencies.
Suppose you are interested in buying Stellar in India and getting the best pricing effortlessly and quickly. In that case, BuyUCoin Exchange is the sole exchange you need. It allows you to even buy Stellar using debit card MasterCard NEFT or UPI.
Is Stellar a good investment in 2021?
To accomplish the transaction, Stellar(XLM) employs blockchain technology. It handles millions of transactions per day because it is a decentralised network. Stellar’s compatibility with the needs of the average person is what distinguishes it.
Stellar, as opposed to traditional blockchain-based systems such as Ethereum and Bitcoin, is faster, cheaper, and more energy-efficient. Its user experience is more akin to cash.
Stellar’s growth has been remarkable in 2021. Year to date, it has returned 424.4%. Analysts who have been following the rise of spectacular for a long time do not expect it to slow down in the near future. The current low price of Stellar and its potential for growth make it an appealing investment destination.
Another reason Stellar is a worthwhile investment is due to its unique upgrades, which increase the flexibility of Stellar core and customer-based applications. Furthermore, as Stellar supports more decentralised applications on its platform, the value of Stellar will skyrocket, making it even more advantageous for those who have invested in it.
Why invest in Stellar(XLM)?
To promote efficiency and transparency for users, the platform uses a distributed ledger. This ledger stores all of the network’s data, including transaction histories for the various transfer protocols in use. This ledger keeps an unbroken record of all transactions since the beginning. It is simple to use the Stellar platform.
Bitt and Stellar Development Foundation Selected as Finalists for the Global CBDC Challenge
September 2, 2021 — stellar.org
- Stellar (XLM) has been designed with accuracy to save and store money safely with the best security mechanism. The network provides seamless transactions domestically and internationally.
- People can use the network for making, sending, and trade in digital assets or currencies globally. Stellar is designed for almost all types of currencies including pesos, dollars, bitcoin, etc.
- Stellar network with API and SDKs bring global finance system on one platform. With their support, even a small business can transact with a bank of international position.
- Cryptocurrencies are not issued by the Central Bank of the country, so there are no restrictions on the trading of these tokens, Lumen in the case of Stellar network.
- The stellar network is one of the best performing altcoins in recent years. The market capitalization of Lumen stands at 8.3 Billion US Dollars as of 25th March 2021.
- Stellar network hosts several currency-backed tokens for participants and users. You can utilize the platform for payments of any volume with flat & low fees. The transactions are fast with Angles within the network.
- Small to big businesses use the Stellar network for moving digital assets and currencies globally. They also target new markets through the user-friendly interface of Stellar (XLM).
- The network is fully equipped with tools, documentation to support projects and applications.
- Users can make markets with trading bots, available on the Stellar network.
Worth buying Stellar in India?
In recent news and updates: Script3 developers are associated with Stellar Development Foundation and JST Capital for Project Venus. Script3 is introducing the Defi mechanism on the network, and it will be implemented with Turing Signing Servers (TSS).
In another update, two significant updates were announced by the developer team at Stellar network. Those are Swap support and Ledger hardware wallet integration. With Ledger integration, users can trade XLM and Stellar digital assets directly from their ledger hardware wallet. We can say that with this update, your tokens and currencies will never have to leave the hardware wallet.
Leading Asian Crypto Exchange Liquid Enables Stellar USDC
The Stellar-powered USDC takes off with access to one of Asia’s largest regulated exchanges; Liquid allows customers to withdraw the newly-enabled asset fee-free.
Stellar is performing excellent in 2021, and as per its upward trend with acceptance among developers, businesses, and individuals, future trends are promising. It has the potential to be a very profitable investment opportunity in the long term.
BuyUcoin is the leading multi-exchange platform for trading Stellar network’s Lumen token. It is safe, fast, and reliable with a rapidly expanding network of traders and holders globally.