Not so long ago, the word cryptocurrency was a mere sound, but now everyone sees this concept as one of the most promising innovations in the financial world. With the development of this system, cross-border transfers became possible, which is a characteristic feature of the new cryptocurrency – Stellar Lumens or XLM. In this article you will find Lumen chart reviews.
Overview
Stellar was originally positioned as a platform to simplify online transfers of digital and fiat currencies. The introduction of cryptocurrency technologies has led to the creation of its own token called Lumen. Lumens has its own characteristics: a low number of tokens to maintain activity, an insignificant transaction fee, the possibility of multi-currency transactions. All this greatly facilitates cross-border transfers.
Stellar, like most other cryptocurrencies and altcoins, being decentralized, uses a blockchain system. But the ecosystem of this cryptocurrency has distinctive features. So, for example, it is impossible to get Stellar tokens using mining.
The following is a general Stellar currency overview. Speaking of turnover, it is worth mentioning the issue amount – 50 billion XLM. However, only 20 billion are available in circulation, the rest belongs to the company itself for its further development. XLM is the Stellar Lumens ticket ID. Despite its high volatility, using statistical data, we can say that today it is one of the most effective currencies of its kind.
Stellar aims to solve the following tasks:
- Various money transfers.
- Storage option. It can be either just buying tokens or investing them.
- Use in applications as a payment method.
Lumens Stellar coins price constantly changing. Today, XLM costs well below $1 and has little stability. But since the founding of the network, the token has shown steady growth.
Pros and cons
Pros: a good tool for reliable, fast transfers of various levels. Stellar Lumens cryptocurrency value is projected to continue to rise.
Cons: extreme volatility of the token, which makes it difficult to invest in it.
Purchase algorithm
Stellar Lumen wallet is easy enough to start. In fact, it is standard:
- Market research.
- Refill.
- Purchase directly.
- Conclusion.
Stellar Lumens is a fairly promising, viable cryptocurrency that allows, taking into account a number of its features, to earn in 2022. Lumen price prediction can be found on thematic resources.
Alternatives
Stellar’s opponent is Ripple, which is also capable of multi-currency transactions. But Ripple, unlike Stellar, has a centralized structure, which is the main disadvantage for many.
Ripple is also focused on cooperation with banking institutions and has already been accepted by some of them as an option for cross-border transfers. Stellar, on the other hand, positions itself as a more accessible platform in this regard. However, despite all this, Stellar is extremely volatile, which forces the use of other similar systems.
Exchange choice in 2022
Now you know what Stellar Lumen is. In general, there are several exchanges where you can buy XLM Lumens crypto. But first you need to find out if this exchange is available in the country. But the best choice would be Binance, which can be used as a means of acquisition, exchange and sale. Binance uses more than 150 cryptocurrencies, including XLM Lumens crypto, which has an easy transfer on the platform. Stellar Lumens future is still undefined, but already encouraging. We can only follow its rapid development and watch Stellar coin news.
