Stellar is currently a rival of Ripple. In many aspects, Stellar quite similar Ripple.
- What is Stellar?? XLM coin what?
- Candlestick XLM . investment or not?
- Where is the reputable place to buy and sell XLM?
- Create a Stellar Wallet, Stellar wallet Which should be used?
If the above questions are a hindrance as you explore Steller And if you are looking for answers to them, then this article is for you.
So why hesitate? Let’s start writing!
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What is Stellar?
Stellar is an open source, decentralized payment technology platform, built on the premise that the international community needs a global financial network open to anyone.
With Stellar you can make currency transactions cheaper, faster and more reliable than current traditional systems.
This is also a feature quite similar to Ripple, transaction Stellar happens very quickly.
Additionally, their protocol connects people from all over the world, allowing for more efficient cross-border payments.
As you all know, transferring money to another country if used in the traditional way will cost a lot of money, as well as a very complicated procedure.
And if you use Bitcoin or other cryptocurrencies, confirmation also takes time (usually 10-15”). However, with Stellar, everything becomes much easier and faster.
Jed McCaleb – maker Stellar coin, also a co-founder Ripple.
Despite the similarities, Stellar still carries with them differences compared to Ripple.
How does Stellar differ from Ripple?
A fork in Stellar protocol at the beginning of 2014 ended with the creation of Stellar Consensus Protocol (SCP). While Ripple is a closed system, Stellar is open source.
The target audience of both is also different. Ripple works with established banking institutions and banking consortia to streamline their cross-border remittance technology.
Opposite, Stellar focuses on market development and has multiple use cases for its technology, including money transfer and bank loan distribution to unsupported banks.
Stellar Co-Founder: Who is Jed McCaleb?
Jed McCaleb is the founder Stellar coin. You are the founder Mt.Gox , then sold to Mark Karpeles before the hack occurred more than 450 million USD.
He then joined Ripple and took Ripple to new heights, currently in the top 3 by market capitalization according to Coinmarketcap.
In 2013, he left Ripple and founded Stellar, Ripple’s rival at the moment.
Stellar has a very reputable leadership team. Including Patrick Collison (CEO of Stripe), Matt Mullenweg (Founder of WordPress), Naval Ravikant (Founder of AngelList) and Sam Altman (Chairman of Y Combinator).
Milestones in the formation and development of Stellar
- In 2014, Jed McCaleb (Co-Founder of Ripple, Founder of Mt.Gox) founded Stellar with Joyce Kim.
- Stellar was officially born on August 1, 2014 with an investment of 3 million USD of Stripe (~2 billion VND). XLM at that time).
Basically, Stellar was a fork from Ripple at the time because Stellar still works on Ripple Consensus Protocol.
- Until January 2015, Stellar just completed its own consensus protocol called Stellar Consensus Protocol. From then on, Stellar is Stellar, no longer related to Ripple.
Stellar Coin – What is XLM coin?
Stellar coin (or XLM coin) is the base currency of the platform Stellar. It is responsible for ensuring and maintaining stable, transactional networks in the network.
Unlike most crypto projects that are released through ICOs, coin XLM released to the community, accounting for 95% mainly through programs Stellar airdrop.
With an initial total supply of 100 billion tokens, XLM is allocated in installments by the Stellar Development Foundation as follows:
- 50% are brought to market through Direct Sign Up programs.
- 25% for Partnership programs.
- 20% used to airdrop for Bitcoin holders.
- 5% is held by the Stellar Development Foundation.
Stellar Coin Specifications:
|Token name||Stellar Lumens|
|Consensus protocol||Stellar Consensus Protocol (SCP)|
|Block generation time||5 seconds|
|Initial total token supply||100,000,000,000 XLM|
|Current total token supply||50,001,803,906 XLM|
|Total tokens in circulation||20,205,027,122 XLM|
How to check XLM . coin transactions
To check transaction XLM coin You can go to the following pages:
This check requires you to have one of the basic information such as: XLM transfer wallet address, XLM receiving wallet or the txid of the transaction.
XLM coin investment potential
Attention: no investment is 100% safe and every decision carries risk. In any case, it’s up to you to decide. However, below is some useful information that can impact the return on your XLM coin investment.
What is XLM coin used for?
Like most current cryptocurrencies, coin XLM used to pay transaction fees (XLM transfers) in the Stellar network.
Besides, to have the right to vote in the network, you must own at least 50 million XLM.
In addition, the Stellar platform is also used to conduct cross-border money transfers. In this process, coin XLM act as a medium of exchange.
So the purpose of use XLM coin What is the impact on the potential? XLM investment?
Really intended use of Stellar coin will partly determine the demand side in the supply-demand balance. When XLM used a lot, it is synonymous with XLM . bridge will increase some stimulation price XLM growth.
Stellar development roadmap and market potential
To refer to the development roadmap, readers can access it via the link: https://www.stellar.org/roadmap#stellar-core
By grasping the development roadmap, you will know Stellar how much of their goal has been achieved now. Thereby knowing if your investment has the potential to grow or not.
Besides, the platform Stellar having a lot of potential for growth is to encroach on many fields. Like dApps (potential market valued at about $189 billion in 2020), decentralized exchanges, and stock markets.
Current Stellar Rate
At the time of writing, price XLM is trading at $0.059048, capitalization is at $1,193,069,424. Trading volume in 24 hours reached 424,378,553 USD.
The current capitalization level is coin XLM is ranked 14th by market capitalization, according to Coinmarketcap.
XLM trading pairs are mainly XLM/USDT, XLM/BTC, XML/ETH
Where is the best place to buy and sell XLM?
At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy and sell XLM has also become much simpler.
In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.
Buy and sell XLM in VND
Currently, there are many exchanges that support cryptocurrency trading in VND, but separately Buy and sell reputable XLM I think the best currently is the Bitmoon exchange.
See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020
The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.
Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.
International reputable XLM trading platform
The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.
For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.
Below is the floor name and transaction fee comparison table for your reference.
If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.
|Okex||0.060 – 0.150%|
|Bittrex||0.25% (most sour – should not trade)|
|Kucoin||0.080 – 0.100%|
Although the international exchange has the advantage of trading volume as well as high liquidity, the disadvantage is that you cannot trade in VND. Almost every transaction buy and sell XLM All of you use USDT for transactions.
Create a Stellar Wallet
Currently, depending on usage needs and invest XLM your wallet that you will choose for yourself the appropriate wallet.
Suitable for those who want to store coin XLM long term and few transactions.
The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.
You may be interested: What is ledger nano S cold wallet? Latest User Guide and Security 2020
- Web-based wallet (online wallet):
You can choose a web-based wallet that supports XLM coin like: Blockchain wallet
The best choice for this wallet is Trust Wallet, with friendly and easy to use interface.
You may be interested: What is Trust Wallet? How to create a Trust Wallet and use details
This wallet is suitable for those of you who often buy and sell XMR optimized for trading.
Some Reputable trading platform that you can refer to are: Binance exchange, Bitmoon exchange, Huobi exchange, …
This article has summarized the most basic information you need to know about the platform Stellar. With this article, I hope that readers can grasp some of the investment potential of coin XLM.
Although it will take some time to read the entire article, I hope that your time will not be wasted.
If you find the article interesting and useful, do not hesitate to share it with your friends.
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