Stellar (XLM) is one of the most undervalued coins on the crypto market, which gives a unique chance to invest in the coin at very low prices. Below we look at Stellar’s features, where to buy the coin, store it, and some more useful information.
Stellar coins features
- Transaction confirmation within 3-5 seconds;
- Network throughput – thousands of transactions every second;
- Can be used to transfer or sell any cryptocurrencies, assets, currencies, or tokens;
- The source code is open, nothing is hidden from you;
- Stellar network uses SCP instead of proof of work (PoW);
- Usable API;
- Multisignature and smart contracts;
- A fully decentralized database;
- Cryptocurrency distribution;
- Since Stellar doesn’t use mining, all coins are available at blockchain startup;
- Holder of the largest share of XLM coins of the Stellar/Lumens project – Stellar.org.
Cryptocurrency is at the heart of a distributed network, with asset tokenization implemented. In simple terms, you can digitize any value by creating your stablecoin (your crypto) and then buying or selling it.
The coins themselves are pegged to classic currencies such as euros, dollars, or yuan. It is also possible to bind to exchange-traded gold, silver, platinum, stocks, or other assets.
Where to buy Stellar
Where to buy Stellar:
- Cryptocurrency exchanges. A reliable way to quickly exchange classic money for Stellar cryptocurrency. Depending on the exchange, you may need to verify your account. Purchased crypto will be stored on the exchange wallet until further operations with it.
- Exchangers. A faster way (because it rarely requires registration and verification) to buy Stellar crypto. You will be charged from 3 to 10%, luckily, the percentage of commissions has decreased recently.
- Exchange aggregators. They will save you a lot of time, nerves, and money, because at the top of the list, with exchangers for the chosen direction of the exchange, the most reliable and popular services where you can exchange crypto are displayed.
At the time of writing, the price of XLM is 0.1 USD.
What affects the rate of cryptocurrency
Many factors influence the rate of Stellar cryptocurrency:
- Entering into partnership agreements with companies and large crypto-projects. Project mergers cause an increase in the interest of the cryptocommunity. There is an increase in assets.
- Adding to the listing by major cryptocurrency exchanges. This is a gesture of trust. Adding Stellar cryptocurrency to the list of trading instruments generates interest among local traders. Trading activity increases and coins start to rise in price.
- The growth of popularity on the Internet. Everyone knows about Bitcoin. Not so much about Stellar though. But if everyone knows about this coin, the number of potential investors and the value of crypto will probably greatly increase.
- Optimistic news in the media. Positive news quickly causes cryptocurrency growth, while negative news causes cryptocurrency decline. Lately, a strong influence of Elon Musk’s statements on the crypto market has been noticed. This is a clue for those who want to catch a wave of rising or falling.
- General capitalization of the crypto market. The growth of the cryptocurrency market implies buying the most popular cryptocurrencies and investing in cheap coins, which tend to shoot up a lot. Let’s say that the digital currency market jumps in capitalization by 2 times, then potentially the value of Stellar will rise by 2 times. But that’s not certain, crypto is influenced by many factors.
- Community enthusiasm. There are cryptocurrency platforms that users simply like. Stellar, for example, is interesting for fast transfers within the system and it attracts.
- Introduction of new services and tools. It will contribute to the growth of cryptocurrency value, whether it is Stellar or any other altcoin.
- Activities of mystery shoppers or experts. Inspections and their results can greatly affect the value of the digital currency.
- Protocol update. If it is clever, the cryptocurrency will start a wave of growth.
- Branches from the project. Since this crypto works with open blockchain code, it is possible to make some changes, copy the ready-made new code and launch a new crypto-project on its basis, which will be better than Stellar. In case a better analog of Stellar appears, the value of the original cryptocurrency will fall.
Where to store Stellar cryptocurrency
There are several ways to store Stellar cryptocurrency. These are:
- Crypto exchange accounts where coins are traded. A bit risky. Two-factor authentication is required, without it, fraudsters can hack your account and steal crypto to an unknown wallet, from which you will never get it back.
- Hot cryptocurrency wallets. Reliability, accessibility, and simplicity – are three words that characterize this type of wallet.
- Cold cryptocurrency wallets. They allow you to store funds without the risk of hackers stealing them safely. Security is ensured by the absence of an Internet connection.
In general, Stellar cryptocurrency (XML) can be stored in wallets of different types. Which vaults to keep Stellar in you will find out right now.
Wallets for cryptocurrency
If you want to know what wallets are the best for storing Stellar crypto, consider the following options.
Stellar online wallets. This option of wallets most often attracts users. You can follow the link https://stellar-wallet.org/ and in a couple of minutes, you will have your own Stellar wallet. A newcomer to the world of cryptocurrencies won’t find it difficult to figure out how to work with it, and the wallet, in turn, will provide reliable protection of his/her funds.
Stellar hardware wallets. The leader in the hardware wallet market is Ledger devices. By buying it, you will provide your lumens with complete security. Since Ledger has several varieties, we will recommend Ledger Nano S. This wallet is almost impossible to hack and easy to use.
Stellar desktop clients. Users who want to send, receive, buy and sell Stellar coins can use the Stellar Desktop Client. Its level of security is lower than that of a hardware wallet. You will have to secure your PC yourself because the wallet’s private keys will be stored on your SSD.
Stellar mobile wallets. The Stellar project aims to make mobile payments. Smartphone owners can already appreciate the new Lobstr app. It is a mobile wallet, versions of which have already been released for Android and iOS. The app is easy to use with a couple of clicks, but hacking is risky because your smartphone is almost always connected to the network.
Conclusion
So, now you know where to buy, and store Stellar cryptocurrency and how it works. Forecasts for Stellar are very optimistic. Most of them are positive, predicting an increase in the value of the coin. The project is actively developing, introducing new technologies, and eliminating flaws. The system attracts people with cheap and fast transfers, which the world is in dire need of right now.
The project is successful, it is far ahead of the development of the Ripple blockchain, from which it originated. The reasons for its low popularity are an ill-conceived security system, the lack of an official wallet, and a weak advertising policy. So Stellar is also a project with undisclosed potential, which may reveal itself in the coming years.
Whether Stellar cryptocurrency is worth buying in 2022 is up to everyone to decide for themselves. If the optimism of various experts is justified, the decline in quotations can be followed by explosive growth, which will increase the value of crypto dozens of times.
