Have you traded cryptocurrencies through cryptocurrency exchange? If yes, you must have come across Stellar coins (XLM) already. It is one of the most popular token pairs the cryptocurrency exchanges offer its users.
But what is Stellar (XLM)? It is a popular emerging digital currency, which currently ranks among the top 30 cryptos. Why should you buy Stellar tokens? These are some of the frequently asked questions about Stellar XLM. Let me walk you through the various aspects of this altcoin so that you can make a choice whether you should buy this crypto coin.
Stellar is an open network, which enables the movement and storage of money. This network was founded in 2013 by Jed McCaleb in association with Joyce Kim, a lawyer. However, the release of the protocol was done in July 2014. The main goal of the Stellar blockchain was to boost financial inclusion and reach the unbanked of the world. However, the goal shifted soon and it prioritized helping financial companies and get connected to one another by using blockchain technology.
Stellar Lumens (designated as XLM coin) is the native token of the Stellar network. It works as a bridge, making crossborder transactions of assets less expensive. This essentially challenged the current leading providers of payment services in this financial system as the latter charges high fees.
All these facts and figures will help you to make a decision on investing in Stellar XLM:
The Stellar Consensus Protocol secures the network. This protocol has 4 main properties:
Decision-making can’t be done by any single entity and anyone can join the process to achieve consensus through Stellar Consensus Protocol (SCP).
You can buy THETA coins in almost all reputed cryptocurrency exchanges including:
You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange.
The most popular price pairs of XLM is:
Before investing check out historical data of token XLM, crypto news, XLM price charts, XLM to BTC exchange rate, and others.
You can buy and sell Stellar XLM and other cryptocurrencies against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs, and bitcoin cash markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility.
If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit.
You can also diversify your crypto coin portfolio by including other cryptocurrencies such as XLM, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others.
Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return.