About Stellar (XLM)

Now is the time to discuss Stellar or XLM if you like. The Stellar price, basics, and how you can use it are just some of the things we will reveal below. We have prepared a complete guide, so if you are a newbie and if you want to know all about XLM, this is a page for you.

The main thing you need to know is that XLM is a payment network. It is decentralized, and it is open-source, as you may assume. But, this payment network uses blockchain technology. Hence we can explain all the details, and it can be a huge appeal for users who are into cryptocurrencies and blockchain. If you check the chart, you can see that the network is stable and worthy of your time.

Keep in mind that the network we have here is designed to transfer fiat into cryptocurrencies. But, it has its own crypto known as Stellar Lumens, and this is an important thing you have to know.

How Does Stellar Work?

You probably want to know all about Stellar price today and its value in general. But before we move to that, you need to know how this technology works. As stated above, it is a payment network. The idea is to use it to transfer fiat currencies like USD, EUR, and others into cryptocurrencies. But, it is designed to be cheap and extremely appealing.

You can say that all cryptocurrencies offer the same advantage, but it is not true. XLM has one major advantage. It is a fact you can use it for any type of money. A massive perk here is the fact there are no limits when it comes to which currencies you can use.

You can use an app that is the easiest method. Within the app, you can send money to another person instantly. It is not important where that person lives or which currencies you two are using. These transactions can be completed within 5 seconds. Every single computer in the world can become a node by using Stellar software.

Here we can say that the Stellar ledger is used to keep track of all operations and also all the balances. This also means that you can have XLM on the balance and USD. But you can also have a pending operation meaning you will send USD to another user in the near future.

All transactions are broadcasted in real time all over the network, and as stated above, this takes 5 seconds. It also means that you can check price history quickly and easily. When a pending transaction is active, the nodes will have to verify the value of that transaction and only then it will be approved. The fee for transactions is 0.00001 XLM. If the network is super-busy, the fees can go up, but they are still very low. This right here is one of the main advantages and something that makes the whole process even more appealing. The second perk is the current Stellar price.

Stellar Price Today

Most cryptocurrencies have a price that is easily determined. If more people get the cryptocurrency, the price will go up. If fewer people get it, the price will go down. The same thing affects stock value. But, here, we can see that XLM is paired with Lumens or the tokens. Here we can add that the price now is relatively high, but it can become higher if more people adopt this technology.

In simple terms, if the technology becomes more appealing and more commonly used, the value will go up and you can make a profit if you have invested in XLM. The overall result is the same as with all cryptocurrencies, but the process is slightly different due to the fact this is a network that is designed for payments and uses its own crypto and not a cryptocurrency only.

Where is Stellar Used Now?

You can convert Stellar to USD or any other cryptocurrency if you like. If you want to know the basics, we need to make a clear point. There are two things here you need to know. The first one is that Stellar refers to a network for payments. You can use it to send any money to anyone, anywhere in the world. For instance, you can use your e-wallet only, and you will complete a transaction within 5 seconds. This is the main purpose of XLM, to allow people to send money with low fees across the world.

The second thing to know is that Stellar Lumens are cryptocurrency. As such, it can be used for trading, sending to other people, and more. It is paired with the Stellar network, so we can see that both of them work closely together. XLM can be used in all countries in the world where it is legal and where people are allowed to use it.

Who Created Stellar?

Stellar was created by Jed McCaleb back in 2014. You may have heard about this person. He is a co-founder of the popular Ripple and also a founder of Mt.Gox. The co-founder of this payment network is Joyce Kim. An interesting fact is that before the network became alive, they created a website called Secret Bitcoin Project. The goal was to find testers who would test the network and see how it works, hopefully, find any issues the team could resolve afterward.

Another fact you need to know is that Stellar Development Foundation is a non-profit organization that was created by the Stellar founders and also Patrick Collison, who is Stipe’s CEOs.

When the network was released, there were 100 billion stellars in the network. We said stellar because the original name of this cryptocurrency was Stellar. Later it was changed to Lumens. The acronym here is XLM. Stellar price USD is commonly used to reveal the accurate value of this token.

How to Buy Stellar (XLM)?

Maybe you have checked all time high or the overall value, and now you want to get XLM as soon as possible. Now you may believe that there are countless methods you can use to get the cryptocurrency in question. In fact, there are two methods you can use only. The cost is always appealing, which makes us believe most of you will try to explore both methods.

Buy it at the exchange website

This is a more common method, and it is worth your time. All you have to do is to use an exchange website like Coinbase or Binance and XLM. As always, the price of Stellar varies, so you will want to choose the right moment to do that. Regardless of which exchange you use, the process is always the same. You will create an account, link a card or bank account and use it to buy Lumens.

Exchange with people

There are websites where you can exchange cryptocurrencies with other people directly. The live price here can be the same or different, depending on where you exchange it.

Is Stellar Using Mining?

Many of you want to know all about mining. Most of you will ask if you can use get Stellar using the mining process. The answer is no. You can only buy coins. Another thing we must repeat here is the fact Stellar is now used to explain the network. Lumens are cryptocurrencies based on this technology, and you can buy them.

So, when you check the stock chart, you are basically checking the value of the Lumens. At the same time, here we can add that mining Lumens never was possible, nor it would be possible in the future.

Mining is a process where you will use your computer to accept the network protocols that will use GPU to solve complex problems. Once the problem is solved, the user will get a cryptocurrency as a reward. The most common example here is Bitcoin mining. You can even check the graph to see details about the mining process.