Table of contents
NASDAQ recently published a report stating that over 100,000 crypto wallets are now worth $1,000,000. Without a doubt, crypto continues to revolutionize the financial market. But, of course, not every crypto you invest in will be the next Bitcoin or Ethereum.
In reality, only a couple of cryptocurrencies are showing promising results these past months. One of the cryptocurrencies that are doing remarkably well is Stellar Lumens (XLM). Some experts believe that Stellar will reach “the moon” in the coming years.
Today, we will break down what Stellar is and why you should invest in Stellar.
Introduction To XLM (Stellar Lumens)
Stellar is quite different from Bitcoin as it’s an open-source and decentralized payment network for currencies. It fixes issues often found with cross-border transfers like long transaction times and costly transaction fees. In addition, it creates a single network so all of the world’s financial systems can work together no matter where you live.
In summary, Stellar provides people with limited access to the international financial system an opportunity to receive and send money as long as they have a working internet connection and a computer. If you are still not sure what Stellar is, let’s give you an example.
Let’s say you live in Venezuela, a country that limits people from accessing international currencies. Fortunately, you can buy Stellar with bolivares and then exchange it for U.S. dollars without the need of a middle man, in this case, the local government.
But, who owns Stellar?
Jed McCaleb and Joyce Kim created Stellar after leaving Ripple, a popular crypto coin. Surprisingly enough, Jed and Joyce made Stellar a non-profit organization since their main goal was to provide people with crypto that anyone can access. In addition, Stellar is publicly owned, meaning ownership is controlled through shares of stock that people can freely trade on a crypto exchange.
Stellar Around the Wolrd
Since Stellar price has been steadily increasing, some countries are starting to take notice of it. For example, Ukraine’s Ministry of Digital Transformation announced that they plan to work with Stellar to develop their own digital crypto. Stellar in Canada is also popular since many exchange apps allow you to invest in it easily.
Now that you understand what Stellar is and how it’s becoming increasingly popular, what are the benefits of investing in Stellar today?
Benefits of Investing in Stellar Lumens
Fortunately, Stellar is still easily accessible, unlike Bitcoin and Ethereum, which only the rich can purchase. But, of course, the price of Stellar is bound to change, and now is the time to start buying since one Stellar is less than 30 cents. Here are some other benefits:
- You can exchange it for almost any currency
- Located on the decentralized payment network
- Many countries are starting to invest in it
Of course, Stellar is still a young crypto coin, so changes are still happening. Regardless, XLM is heading in the right direction in the crypto market.
Invest in Stellar Today
Hopefully, you now have a better understanding of Stellar. So what should you do now? Start investing while you still can, since XLM is getting ready to shoot to the moon!
If you found this article informative, be sure to check out our other crypto-related posts. Without a doubt, you’ll find another one that’ll pique your interest!