What Is Stellar and Why Should You Invest In Stellar?
When Satoshi Nakamoto announced Bitcoin in 2009, the main motivation behind the cryptocurrency was to replace the currencies that ran on traditional models and offer a peer-to-peer payment solution that can not only facilitate faster and secure transactions but also offer decentralization or the absence of a central monitoring authority. Since then many promising crytocurrencies have surfaced including Stellar Lumens.
What Is Stellar Lumens?
Stellar Lumens is an open-sourced payment platform that runs on the Blockchain technology. Stellar aims to be the leading payment gateway through which global businesses and individuals can easily transfer their assets. Stellar is a direct rival to the likes of Bitcoin and Ripple.
Stellar is currently priced at $0.20 USD. It is currently ranked 7th with respect to its market capitalization. The circulating supply or the total numbers of Stellar that have been released are 18 billion while the total supply is considered to be 104 billion. Stellar is available on a lot of exchanges and can be bought from popular exchanges Binance and Bittrex.
Why Stellar Lumens?
There are several reasons Stellar Lumens is a wise investment opportunity. Some of them are:
IBM – Support of the Tech Giant
One of the prime reasons Stellar achieved recognition was its partnership with IBM. IBM is a tech giant and one of the top 500 companies in the world. Stellar’s partnership with such a prestigious and successful IT organization made sure that it had one of the best support in the crypto sphere to beat others. IBM is currently working to integrate Stellar in its future financial applications.
Backing of Others
IBM was not the only one to partner with Stellar. Soon other companies followed including banks like ICICI Bank. Other famous names include the technology consulting tycoon, Deloitte. In total, Stellar has partnerships with more than 40 businesses that are based worldwide and it is working with each of them to integrate Stellar into real world applications.
Cheaper and Quicker Transactions
Traditional payment methods are ineffective. Simple transactions not only take time but also incur significant fees. Stellar aims to disrupt the global payment methods through its low fees. Additionally, the transactions on Stellar’s network take a few seconds.
Anyone in the Middle East with relatives and friends living in another country understands the struggle of sending money overseas. It is a recurring issue whether one is sending money from UAE or KSA to Australia or USA. Not only it costs heavy fees but also takes time. However, Stellar aims to solve this problem and offer extremely quick and cheaper cross-border transactions through its network.
If you do not want to experiment with a cryptocurrency that is not popular and are looking for a dependable investment, then Stellar is one of the best options at your disposal. With huge organizational support on its back as well as superb technology, Stellar is set to be one of crypto world’s best success stories.