Stellar Lumens rates: is the exchange truthful? Where and how to buy the currency, how to start investing? Forum reviews.
The world of cryptocurrencies has become a birthplace of many innovative concepts that manifest themselves through projects that catch interest. One of them is Stellar, an open source platform launched in 2014, with a dedicated cryptocurrency under the name of Stellar Lumens– or Lumen. Promoted as a competitor to such major coins as Ethereum and Ripple, Stellar holds an idea of creating a payment network independent from the monopoly of banks. This interesting project gathers a lot of interest, especially since it is being developed as a global enterprise.
Description and information about Crypto Currency Stellar
The platform’s name in itself stimulates the imagination – it means “star-related”, whereas the cryptocurrency tied to it, lumen, is an astronomical unit of measurement. The network was created under SFD – Stellar Development Foundation, a non-profit organization that promotes global financial access.
The idea behind Stellar was a distributed payment system that makes it possible to conduct transactions while receiving an instant clearance confirmation for them, and all of that without any fees. What is more, a trader can also use it to issue tokens or conduct a fund-raiser. The Stellar platform is accompanied by a whole decentralized exchange that handles both key fiat currencies, including American Dollar and Euro – and popular cryptocurrencies as well.
A capitalization conducted during its high price in January 2018 resulted in an amount of 15.9 billion dollars. This impressive number places the project on the sixth place in the capitalization ranking conducted by the CoinMarketCap website.
Where and how to start investing in Stellar Crypto Currency?
Unlike other cryptocurrencies, there is no such thing as mining when it comes to Stellar. Which is also why the way to start using the platform is opening an account on the platform, having it verified and buying the XLM currency on one of the numerous exchanges, including the oldest ones with best reviews.
A Stellar trader can successfully manage the resources both from a desktop computer and popular mobile devices. The Stellar Lumens currency is available for different wallets, both dedicated and third party ones.
First and foremost, we need to mention Foxlet Stellar Wallet, which we can use both on Windows and MacOS as well as – which is interesting – on Linux. On Android and Apple mobile devices we can control our Stellar resources using Lobstr Wallet, for example. There is also no shortage of hardware and online wallets that are fully compatible with Stellar.
The full list of wallets that accept this currency is pretty long and we encourage those who want to read it to visit the platform’s official website.
Reviews for Stellar Crypto Currency. What do they write in the forum and in the press?
The process of birth, development and expansion of Stellar couldn’t go without certain controversies. Initially based on the Ripple code, the platform has run into technical problems changing the concept of the source code and its division into nodes. This was solved with a creation by professor David Mezeries of Stanford University, the SCP algorithm – Stellar Consensus Protocol. Code modernization has contributed not only to eliminating the initial flaws, but also to increasing the efficiency of the network’s operation.
What is more, the implemented changes were also beneficial to an important security aspect. In the final analysis, the extent of struggling with temporary complications reflects well on the project, as it is equipped with enough resources and integrity to coherently eliminate them.
Despite those setbacks, the interest and enthusiasm of users translated to three millions registered during the first six months since the launch of the system, which at the time was already capitalized at fifteen million dollars.
The benefits arising from the platform’s functionality cause it to be used by corporations around the world that actively support the works conducted on it. The users’ opinions on it are in vast majority positive, whereas the currency itself is among popular choices on many of the major global cryptocurrency exchanges. Experts, on the other hand, express a belief that Stellar is a significantly modified issue of famous cryptocurrency Ripple.
This trend is no surprise considering how impressive are the objectives represented by the idea behind the Stellar project. What is more, thanks to the works and development, they work well in the real world.
Where and how to buy Stellar? What Stock Exchange will be the best?
The Stellar Lumens cryptocurrency is already present on thirty six global exchanges. Its biggest turnover, which constitutes about thirty percent of its entire volume, goes through the famous Binance exchange, where Stellar Lumens comes in pair with Bitcoin. The interested traders can also buy Stellar, among other places, on such exchanges as Kraken, Poloniex, Bitfinex or OKEx, which only constitute the tip of the list of trading centers that have it in their offer. On top of that, the development and expansion of Stellar still continue and there are plans to continuously reach other platforms as well.
Where to look up the Stellar exchange rates? Reliable sources
The list of exchanges that offer buying Stellar is long and covers the key global players in the industry. Each of them is a tested trading base that’s been on the market for years, so its indications can be trusted. Binance, as a trading hub with the biggest share in the Stellar Lumens trading flow, is a frequently chosen source of data on the topic.