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What is This Cryptocurrency? Stellar

What Is Stellar (XLM)? | A Guide to the Common Man's Financial Network

Stellar is the company behind the Stellar lumen token (XLM). The company created the cryptocurrency as a method to make transactions possible between the cryptocurrency and fiat world. XLM is a token that allows for its use in the Stellar Exchange. The company sets to bank those who have had difficulty in the past at having a bank account or access to banking.

The Stellar lumen appears to be a cryptocurrency that allows users to store value and use it as a means to exchange between different currencies. Stellar allows for an individual to buy lumens and exchange them for the British Pound or any other currency. People can send money to other individuals by the use of the Stellar Exchange or by sending them through their digital wallet. Cryptocurrencies have the possibility to allow individuals to send and receive payments for services provided.

While XRP and Ripple want to use their cryptocurrency as a way to link banking and the cryptoccurency world, Stellar aims at providing an exchange as well as banking. Stellar has continually grown with partnerships with IBM as well as with Samsung recently. While partnerships are great ways to get the cryptocurrency spotlight, the project seems to be hitting goals.

There are cryptocurrencies that allow individuals to gain rewards from mining or staking. Some exchanges allow Stellar to be staked. Exchanges give rewards when individuals keep their cryptoccurency in an exchange for a certain amount of time. Aside from the rewards, Stellar has grown in price over the last years experiencing growth.

While there are many cryptocurrency projects, there are those that have remained from the beginning or that have improved over the years. Stellar is one of those cryptocurrencies that has done both things and continues to improve. With recent new announced partnerships, Stellar may be a cryptocurrency to watch.

*This does not constitute investment advice. Make sure you research your information prior to making investments or buying cryptocurrencies.

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