Investing guide for Stellar Lumens (XLM)

The Stellar Lumens project was created in 2014. The main idea of the project was the provision of financial services using blockchain technology to those who do not have access to traditional banking services.

Here’s another thing that many people get confused about. Stellar is the name of a network that allows you to transfer funds quickly and cheaply. Lumens is the name of the cryptocurrency used on the Stellar network.

Features of Stellar Lumens cryptocurrency

A closer acquaintance with the Stellar cryptocurrency reveals a number of interesting features.

  • XLM cryptocurrency can support thousands of transactions per second. The total confirmation time is very fast – only 3-5 seconds. 
  • XLM cryptocurrency can be used to transfer or sell any currencies, assets or tokens, which makes the system multifunctional and very convenient.
  • Stellar Lumens is open source which increases the credibility of the company, which uses SCP technology instead of Proof of Work.
  • The cryptocurrency system is built in such a way that the network provides complete decentralization of the database. 
  • The initial amount of coins created is 100 Billion XLM. 

Fixed annual inflation rate of 1%. For many physical national currencies, this is an unattainable dream.

  • Most of the coins are held by a non-profit organization.

This asset may be interesting, first of all, because it is one of the most promising blockchain platforms, and XLM is also famous for its high profitability, which allowed many investors to make decent money during the last period of growth in the crypto market.

Stellar Lumens: Where To Buy?

You can buy XLM cryptocurrency on many cryptocurrency exchanges, this asset is quite popular on the crypto market and the supply / demand for the coin is very high. You can convert xlm to btc or any other cryptocurrency as well. The largest daily trading volume takes place on the well-known exchange Binance – in the amount of about $ 23,000,000. But you can also purchase this cryptocurrency on such popular trading platforms as: Binance, Kraken, Poloniex, Upbit.

How to store XLM cryptocurrency

The XLM cryptocurrency can be stored, like all other digital assets, right on the exchange, however, this method is unsafe and it is not recommended to use it if you are going to purchase a large volume of XLM coins.

In this case, it is better to opt for the safer and more reliable option – register yourself with a web wallet, desktop wallet, or cold storage hardware wallet.

  • Web wallets are more convenient and faster to use. If you need frequently to perform any manipulations with your crypto account, then you should consider this option. The disadvantage of such wallets is the lack of private keys;
  • A desktop wallet is a more reliable option to store your cryptocurrency than online wallets, however, to use it, you will have to download the application to your PC, as well as download the entire blockchain database, which can take both a long time to load and take up a lot of hard disk space; 
  • Hardware wallets are the most secure way to store Stellar cryptocurrency. These wallets are a device that connects to your PC and through it you directly access your crypto account. The downside of hardware wallets is slow speed and high cost.

Should you invest in XLM?

According to all facts it is clear that XLM is popular on the market. Experts predict that its popularity will definitely grow. This currency value will rise.  This digital coin has proven itself perfectly in the cryptocurrency market. Now she has every chance to enter the top chart.