What is XLM coin (Stellar)? Detailed information and instructions on how to own

What is XLM coin (Stellar) ? what is xlm coin and what does it offer

XLM coin is one of the most interested cryptocurrencies today. However, not everyone understands what the XLM coin is, how it comes from and what to do to own this coin. However, all these questions will be answered shortly!

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What is Stellar (XLM)?

What is Stellar?

You wonder? What is Stellar coin?? This is an open source project and is abbreviated as XLM. The birth of Stellar aims to solve problems related to money and payments. Thanks to Stellar, it’s easier to create, send, or exchange tokens that represent currencies in digital form. How this currency can be Bitcoin, Pesos or Dollars,…

Let’s find out what Stellar is

Stellar is designed to realize the goal of bringing the world’s financial system together in a single network. And Stellar is currently owned by the community, not by any individual or organization.

Every day, the Stellar system can handle millions of transactions. And this is an open, decentralized network system that relies on blockchain for synchronization. But compared to other conventional blockchain-based systems, Stellar is faster, more energy efficient, and cheaper, and offers a cash-like experience to users.

Highlights of Stellar (XLM)

The Stellar (XLM) system has many outstanding features. This is also the reason why XLM attracts a large community of participation.

Stellar coin has many outstanding features

Money transfer feature

You can easily make cross-border cash deposits with very low transaction fees, almost free and super fast transaction processing speed.

Micro payment feature

Thanks to the Micro payment feature, XLM helps to increase the validity and reduce the transfer price for users. Besides, users also have more progressive payment methods.

Mobile Branch feature

With this feature, retail operations can be expanded more while the cost is cheaper and there are more optimal points.

Mobile cash feature

This is also a highlight of Stellar. With the inclusion of mobile cash, it is possible for users to easily send to different providers.

Crypto asset creation feature

You can create representations of assets in both the real world and digitally thanks to Stellar Lumens. On the blockchain of Stellar will be attached to these tokens at a ratio of 1:1.

Direct peer-to-peer transactions

On the Stellar system, sending and receiving transactions are done directly and peer-to-peer through blockchain wallets. The sender and receiver can be directly connected to each other.

Swap currencies

You can swap currencies with each other thanks to Stellar. The system will use XLM to help users find swaps between XLM and other currencies to make trades.

Cross-chain conversion

The next plus point of XLM is that it allows users to convert assets from Stellar’s blockchain to other blockchains, such as Bitcoin, Ethereum blockchain, etc.

Low cost

Every transaction on Stellar has a very low cost, only about 0.00001 XLM. This means that it can help users save more money when making transactions.

Stellar coin (XLM) details

Stellar name, supply, contract (XLM)

Stellar used to have a trading code of STR but has now changed to XLM. This is a project researched, developed by Founder Jed McCaleb – who founded the Mt.Gox exchange and officially launched in July 2014. Coin XLM released completely free for users, but after a while, there were a few bugs about network vulnerabilities. It was later renamed by the development team to Lumens. After renaming Lumens, the more stable operation helped the value of Stellar coin continuous growth.

Founder Jed McCaleb – Founder of Stellar

In just 5 years of operation, about 100 billion lumens have been generated. And on average, the lumen supply increases by about 1% per year. Lumen are not mined or awarded by the protocol over time like tokens of other blockchains.

However, by October 2019, the lumen supply mechanism ended after a community vote. And starting November 2019, the overall supply of lumens has decreased. According to statistics, there are currently about 50 billion lumens in existence and no new lumens appear.

Among them, there are about 20 billion lumens in the open market alone, and the Stellar Development Fund has about 30 billion lumens. The current traffic supply is estimated at about 24.3 billion. It is expected that in the coming years these lumens will be put on the mass market.

Of the 30 billion lumens of the Stellar Development Fund, which is expected to be used for marketing, to help the organization grow, and partly to invest in other blockchain projects.

Token Name: StellarTicker: XLMBlockchain: Stellar blockchainContracting: updatingTotal supply: 50,001,802,550Circulating Supply: 24.32B (49%)

You can invest in XLM coin by how many different way. For example, trade or make buy and sell XLM futures contracts. Buying and selling XLM contracts has more advantages than spot trading, that is, you can buy or sell XLM down. This means that whether XLM is rising or falling, you still have a chance to make a profit. In particular, the XLM coin contract can also create momentum for large transactions to be done with very little money.

Current rate

At the time of writing, you can see the exchange rate of XLM coin at: https://coinmarketcap.com/currencies/stellar/

Exchange rate of XLM coin

However, this rate is for reference only and at different times, the rate may fluctuate up or down.

How to Own and Trade Stellar (XLM)

Unlike Bitcoin or Ethereum, you cannot mine XLM coin Okay. However, you can staking XLM for the purpose of clanging the inflationary XLM portion. The number of votes on the Stellar network determines the reward you receive. However, you need to have 0.05% of Stellar’s total supply to be able to vote on the network.

Or you can also through Stellar’s airdrop programs in conjunction with institutional partners to earn XLM.

However, the simplest way to own and trade Stellar is to buy on exchanges. There are quite a few exchanges that sell XLM coin. In particular, some of the leading and reputable exchanges that you can trust include: Binance, Upbit, Bittrex, Coinbase, Huobi, Bitfinex and Kraken.

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Roadmap and team of developers

Roadmap of Stellar (XLM)

Stellar’s latest roadmap in 2021 announced will set up through 3 main strategies, which are:

Bringing Stellar up to become a blockchain with a greater number of people knowing and trusting it. Facilitate more applications to put into use Stellar blockchain for payment and securitizationFlexible Stellar for both applications 3rd party can also use this coin

Team developer/backer(if) of Stellar (XLM)

The founder of Stellar is Jed McCaled. In 2013, Jed McCaleb officially left Ripper because of differences in orientation and focus on investing and developing Stellar. In addition, contributing to the development of Stellar as it is today, there are also significant contributions of advisors such as:

Stellar Development Team

Patrick Collison – CEO of StripeMatt Mullenweg – Founder of WordPressNaval Ravikant – Founder of AngelList

Besides, there are still many other prominent names involved in the consultation and support.

In addition, Stellar also successfully cooperates with over 70 other partners operating in the blockchain field. Typical can be mentioned Trezor, Wyre, Circle, BitGo, Blockchain.com or Ledger, …

Closing and Disclaimer

With the above sharing, you must have understood better XLM coin or what is Stellar and related information as well as how to own this child. It can be said that this is one of the very potential coins and receives a lot of attention from investors. You can consider and own coin XLM according to the methods we have shared.

Disclaimer: The information we have shared is for reference purposes only for you to better understand XLM coin. This is not investment advice. So please consider carefully if you want to participate. We are not responsible for your investment results!

Note, the above content is the knowledge and experience of the author himself in the long time participating in the Crypto market, not investment advice for readers. If you feel that the knowledge shared by the author is reasonable and accurate, you can apply it to yourself. And of course, participating in the game, there must be winners and losers, so I wish you all a successful investment!

Currently, the Vietnamese state does not provide legal support for any electronic currency, you still have the right to mine and use it, however, when there is a dispute or conflict, the state has no obligation to assist in resolving these issues. this problem.