|Circulating Supply||104,662,581,680 XLM|
|Max Supply||0 XLM|
Stellar Lumens finds itself among the top seven cryptocurrencies that are traded at the various exchanges online. It was first released in 2015 and over the past few years, it has seen its value increase at a more than healthy rate. As of writing this review, Stellar Lumens have a market cap of $6,641,446,662 and a daily trade volume of around $250 million.
When it was first released, you could pick the coins for a mere $0.002251 each but right now you could be buying or selling them for their current value of $0.358. You can just imagine how much profit you would be sitting on right now if you had bought $100 worth when they were first launched.
What is The Stellar Coin (XLM)
Stellar Lumens are the peer-to-peer cryptocurrency of the Stellar network which has been created to allow the decentralized transaction of funds internationally.
Sending the currency requires nothing more than the wallet address of the person or company receiving the currency and the amount. The transaction is sent across the stellar network where miners validate the transaction. Once completed and validated, then the amount is removed from the sender’s account and placed into the receivers.
Initially, Stellar was built using the Ripple protocol but they since decided to create their own from scratch after citing a few flaws in what Ripple had created. Over the years, a number of companies have adopted the Stellar system with IBM being the largest.
Whats Special About Stellar (XLM)
The main aim of Stellar is to provide fast and secure micropayments, mobile banking and global currency remittance. This has already proved to be a popular payment system and one that has already been picked up by companies across the globe.
Below is where Stellar stands out compared to Bitcoin:
- Faster Transaction Confirmations – With each confirmation taking between two and five seconds to be completed, Stellar can boast being quicker than Bitcoin in this regard.
- Lower Fees – Sending anything up to 600,000 will only have a fee of $0.1 attached. A similar transaction with Bitcoin could be as much as two or three dollars.
- Currencies Exchanged Automatically – Stellar Lumens is able to automatically convert currencies. This is performed in real-time with the network able to establish the best currency exchange rate at the time the transaction was sent.
Those are just three of the main benefits that Stellar Lumens has over Bitcoin and some of the other cryptocurrencies that are being traded at the cryptocurrency exchanges right now. There are a few more too, so if you are thinking of investing in what Stellar aims to achieve, do a bit of research before deciding if you feel it is the right move.
Where to Buy Stellar (XLM)
XRP might not be up there with the likes of Bitcoin. Litecoin, Ripple, and Ethereum when it comes down to popularity but it is certainly among the second tier of cryptocurrencies. This means that you should still find a number of good cryptocurrency exchanges that support it. Being a coin with good potential, we imagine that more exchanges will also pick it up too.
Here is a selection of cryptocurrency exchanges that we know allow the trading of Stellar (XLM):
If you like cryptocurrency exchanges with no verification required, low fees and a good selection of altcoins, Binance is certainly one that is worth checking out. This exchange is a big favourite of many traders.
If you want to be able to exchange fiat currencies for cryptocurrency, Kraken is one of the best exchanges that allow you to do so. Credit cards are accepted as well as SEPA transfers and other payment methods.
Similar to Binance, Coinexchange offers a very anonymous experience with no account verification required. This is a crypto-to-crypto exchange and one that we highly recommend.
- Bitcoin Indonesia
Bitcoin Indonesia is another good option when it comes to trading XLM as you can trade against other major cryptocurrencies or the IDR fiat currency.
If you want to be able to use a credit card to deposit at a currency exchange that supports XLM, Changelly would make a good choice. There is also an excellent range of other cryptocurrencies supported.
Investing in Stellar (XLM)
There have been many bold predictions that 2018 could be a better year than 2017 for Stellar Lumens. Considering the strong year that it had in 2017, that is certainly some prediction. We do not want to offer any trading advice or tell you whether or not you should invest but it does seem to be one of the more promising coins and systems on the exchange right now.
Do I Need a Stellar Wallet?
If you have been around the cryptocurrency scene for a while now, you will probably already know that a number of cryptocurrency exchanges have been hacked over the years. This has led to customers losing a lot of their currencies which in most cases are not reimbursed by the hacked exchanges.
This means you should be limiting the number of cryptocurrencies that you leave in the wallets of online exchanges and should ideally be using your very own cryptocurrency wallets to store your portfolio.
Cryptocurrencies are a big target for hackers as they are hard to tack due to not being a part of the traditional banking systems. This means that hackers can literally be anonymous when stealing cryptocurrencies before selling them for fiat currencies. In some cases, hackings have seen the loss of around $500 million in this currencies.
There is a good selection of wallets around and most of them will offer some good security features while also allowing you to have your own control over the coins that you own. Below are some of the wallets that will allow you to store XLM:
- Hardware Wallets
While there are not too many hardware-based wallets around, especially compared to software-based, we do expect to see more of them produced in coming years. These are regarded as the best types of wallets to have but they will come at a cost and are aimed at the more serious cryptocurrency trader.
These will physically store your cryptocurrencies and their private and public keys offline and away from the hands of hackers. Your only real threat is somebody stealing your wallet, so make sure that you keep it protected at all times. Furthermore, always keep several copies of your keys and store them in secure places – just in case anything were to happen to the Ledger.
There is only one hardware-based wallet that will allow the storage of XLM and that can be found below:
Ledger Nano S
In terms of pure value for money, the Ledger Nano S is an excellent hardware-based wallet that will allow you to store your cryptocurrencies. It costs about half the price of most of its competitors and offers a good level of security. When you want to send any currencies, simply plug it into the USB port on your device. As for receiving currencies, it does not even have to be connected.
- Software Wallets
If you do not want to lay out any cash for a wallet and are happy enough to use software-based wallets, you will be surprised to hear that there are actually a good number of them around. They might not offer the pure peace of mind that hardware-wallets do but they are definitely the next best thing.
Below are a few software wallets that you will be able to use to store your XLM:
Stronghold is a wallet that is both web-based and available as a mobile app. Offering multsig and two-factor authentication, this wallet has a good level of security and is one of the best options when it comes to storing your Stellar Lumens.
Stargazer is another option for Windows, Linux, OSX, iOS and Android and is an open source app that allows you to store your currency in an offline setting. It can only store XLM though, so the rest of your portfolio will have to be kept elsewhere.
For Android users only, Centaurus is an excellent open-source cryptocurrency wallet that offers good anonymity and the ability to be able to create and print a paper wallet that you can use to keep tabs on your XLM.
Pros & Cons
Found firmly among the top ten cryptocurrencies, Stellar Lumens are definitely a currency you should take a closer look at. As described above, they might have the global appeal that Bitcoin does but there is a strong argument that their peer-to-peer payment system is far more oiled than that of Bitcoin.
Below are the pros and cons of Stellar Lumens:
- Recently entered into a partnership with IBM
- Free network that is open-source
- Fast and scalable transactions
- Only 10% of Lumens available to trade – the owners own the rest
- The brand is not as recognizable compared to some other coins.