It is safe to argue that cryptocurrencies have greatly redefined the way we do business. Stellar (XLM) is among the most valuable cryptocurrencies. It has rightly been described as the future of banking since it seamlessly connects banking institutions, payment systems, and clients across the world. This financial platform is designed to enable you undertake transactions quickly, reliably, and at an affordable cost. Here’s what you need to know about Stellar (XLM).
How is Stellar Related to Bitcoin?
Bitcoin is a highly popular cryptocurrency among consumers and individuals. On the other hand, Stellar has a notable business appeal which surpasses that of Bitcoin. Stellar’s cofounder Jed McCaleb is credited for creating the groundbreaking Bitcoin exchange. At the moment, Stellar XLM operates as a non-profit whereas Bitcoin is a for-profit business enterprise. Nonetheless, both cryptocurrencies operate in a somewhat decentralized manner
It’s Incredible Ascension
Financial experts opine that XLM is headed towards the $1 mark. Currently, it is the eighth largest cryptocurrency in the world with a price of 35 to 40 cents and an incredible market cap of 6,478,352,729 dollars. These numbers are remarkable to say the least considering the fact that the price of XLM was less than 1 cent one year ago. In January 2018, the currency hit the 90-centmark, which clearly shows that it will be propelled over the 1-dollar mark in the event of a major cryptocurrency market upsurge.
Stellar XLM’s Business Appeal
Despite its tentative beginnings, Stellar has morphed into a cryptocurrency that captures investors’ attention. The recent announcement by IBM that it would use the cryptocurrency to partner with financial institutions to offer transnational payments across the South Pacific region, highlight’s Stellar’s business appeal. Once this comes to completion, someone in Australia will be able to easily do business with another person in Indonesia and make payments using Stellar lumens.
Which Exchanges Are Listing Stellar?
Initially, Stellar used to be offered by only three major exchanges that is Bittrex, Kraken, and Ploniex. The astonishing gains over the past few months have seen the cryptocurrency being offered by numerous exchanges including Gate, Binance, and CEX. This upturn is likely to help push this cryptocurrency beyond the 1-dollar mark since it will be easily for more people to trade in it.
Besides its availability in more exchanges, Stellar has also managed to pick new partners who will definitely help propel it to greater market value. Besides this, the new partnerships will go a long way in expanding the way Stellar can be used. The new partners that Stellar has brought on board include SatoshiPay, MoneyMatch, Streaml, SureRemit, Pundi X, XCH One GMBH, and NeoFrame. Most of these new partners are payment systems, which have pledged to start using Stellar Lumens for nanopayents. This will help boost the cryptocurrency’s appeal.
Stellar XLM is regarded as the next big thing in the financial world. Once this cryptocurrency hits the $1 mark, its value will skyrocket incredibly. Therefore, every cryptocurrency enthusiast should consider investing in Stellar.