Stellar is a fully decentralized blockchain-powered consensus platform. It supports easy conversion of crypto and fiat currencies, allows multi-currency transactions. The system is equipped with a built-in decentralized exchange that can be used to trade any currencies or assets.
This is an open-source project, and it speaks of its transparency. It is launched as a fork of another well-known Ripple platform.
The fundamental crypto asset of the Stellar system is the Lumen cryptocurrency (XLM). Stellar coin mining is not provided, so the total amount is not expected to increase. At the time of writing, the total amount on CoinMarketCap is 50,001,803,757 XLM with 41% in active circulation.
It is a universal global exchange system that allows one thousand exchanges per second. Transactions are fast, unlike most other platforms that exchange cryptocurrencies for fiat and vice versa.
Fees are much lower than in other blockchain systems (on average 0.00001 XLM, that is, less than $0.01).
Here are the most convenient exchanges to buy: Coinbase, Kraken, Binance, Bittrex, Bitfinex, Upbit, Coincheck, Huobi, NovaDAX, GMO Coin.
The developers of this cryptosystem, the Stellar Development Foundation, offer their own XLM trading platform.
- Native service from XLM creators looks generally more reliable.
- Trade without additional costs, no fees. Platform compensates network costs.
- Simplified mechanism for buying Stellar XLM with fiat currencies.
- Direct peer-to-peer trading, without intermediaries.
- Create a wallet for XLM. This can be either a hardware wallet or an electronic wallet. Examples: Ledger, Blockchain.com, Stellar Desktop Client, and others.
- With one of the above exchanges, buy Lumen, either for fiat or for other cryptocurrencies (BTC, ETH, etc.), and select your wallet for crediting.
Stellar was launched in August 2014 and its price until spring 2017 remained at an almost unchanged level of near $0.002 for a long time. In January 2018, the price made a sharp jump to $0.869, then dropped and began to move up and down further. It has been quite volatile for 2020 but overall has grown from $0.045 to $0.095 at the time of this writing.
Now users and experts ask many questions like: will XLM cost $1 or how will it behave in the next 5 years? But it is difficult to make such long-term predictions definitively. Nevertheless, experts Stellar as one of the possible participants in Altcoin Season. Moreover, renowned crypto analyst Michaël van de Poppe the key indicators and conditions under which XLM Coin price can reach $0.30.
In general, Stellar looks interesting in terms of technology, but the risks and price volatility for small altcoins should be taken into the account.