Stellar is a type of cryptocurrency that is accessed, bought, held, and sold through cryptocurrency exchanges and digital crypto wallets. The digital coin is based on a software protocol that works on blockchain technology. This allows it to be created, traded, bought, and sold without fear of the data being changed.
Stellar was designed as an improvement off of the original cryptocurrency Bitcoin. Generally, Bitcoin has gained too much complexity to be functional as a daily currency. Transactions can take a long amount of time because the amount of blockchain needed for each subsequent transaction gets longer and longer to crunch by computers. Stellar was designed as an alternative blockchain approach to allow the transfer of money with fast transactions that didn’t get bogged down like Bitcoin.
The Stellar Coin Background
Stellar was not a creation from scratch. It was created as a modification to another cryptocurrency protocol, Ripple (XRP). When a modification occurs, it’s known as a fork, this allows the protocol to go in two directions. The first maintains the original protocol, and the second or fork creates the new modified protocol. Ergo, Stellar sheared off of Ripple and became its own digital currency.
Stellar (XLM) is particularly useful for transferring money through the protocol and then back to different currencies in the physical world or fiat economy. For example, if one wants to move money from Thailand to Mexico, Stellar would transfer that value seamlessly, converting the value off of a Thai exchange and re-converting it as needed to a Mexican exchange without much difficulty at all. No surprise Stellar makes a good choice for the movement of fiat funds across different country borders digitally.
Investment Expectations
The value of Stellar is maintained by its total limited supply and the number of buyers at any given time for the coin. This supply and demand effect works on about 105 million digital coins across the blockchain. The administration of Stellar is controlled by a partnership between a handful of digital companies that maintain the consistency of the underlying protocol and any software changes to it. The Stellar Development Foundation is also supported by the same group which works to improve the use and function of Stellar through different integrations in financial schema worldwide.
Regular investors can buy and hold Stellar as XLM in their crypto exchange or wallet. It is a primary currency with a regular standing and typically available on most exchanges and major trading sites. For folks who want to use Stellar to move monies, it’s quite easy. One simply converts from fiat money or another digital currency and then sends the funds to a given digital address as the destination. Then, at the destination account, the recipient changes it back to fiat or whatever they wish to do with the coin when received.
How to Buy, Hold, Sell, and Exchange Stellar Coin Easily
The Rubix App provides a very easy way to buy, hold, send and trade stellar coin. The app will take fiat currency from a regular bank connection, convert it, and then provide the user working and active XLM. The coin can be easily traded with instant transactions or it can be held in the Rubix Wallet for future use as needed. Because the app works on both mobile devices and computers, users have a tremendous amount of flexibility as well as a reliable service quality in a digital currency finance tool. Rather than do your bitcoin trade for XLM on an external exchange, Rubix Swap offers you a much-easier alternative with instantaneous swaps right in your wallet.
