About XLM?
What is Stellar (XLM)?
Stellar (XLM) is a decentralized, open-source blockchain network designed to facilitate fast and low-cost cross-border payments. Its native token, Lumens (XLM), plays a key role in transactions, acting as a bridge for currency exchanges and helping to minimize transaction fees. Stellar aims to make global financial systems more accessible and efficient by enabling the transfer of any type of currency, whether fiat or cryptocurrency.
How does Stellar (XLM) work?
Stellar operates on a consensus protocol known as the Stellar Consensus Protocol (SCP), which is different from traditional proof-of-work or proof-of-stake mechanisms. This allows the network to reach consensus quickly and efficiently, processing thousands of transactions per second at a low cost. XLM is used to facilitate these transactions, helping to convert and transfer money between currencies seamlessly. Stellar’s architecture is designed to connect financial institutions, making it easier for individuals and businesses to send and receive money internationally.
What are the potential use cases for Stellar (XLM)?
Stellar is primarily used for cross-border payments and remittances, making it easier and cheaper for individuals to send money across borders. It’s also utilized for tokenizing assets and enabling microtransactions, which are critical for developing economies. Financial institutions and payment services can leverage Stellar for secure and fast transaction processing, while developers can build decentralized applications (dApps) on its platform to create innovative financial solutions.
What is the history of Stellar (XLM)?
Stellar was founded in 2014 by Jed McCaleb, a co-founder of Ripple, and Joyce Kim, with the goal of creating a more inclusive global financial system. Over the years, Stellar has formed partnerships with various companies and organizations, including IBM, to enhance its cross-border payment capabilities. Its mission has remained focused on improving financial access, especially for those in underserved markets.
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Frequently Asked Questions (FAQs)
What is the current price of Stellar (XLM)?
The Stellar price is $0.36916595 AUD, representing a +2.92% from the day prior.
Where is the best place to buy Stellar (XLM) in Australia?
The best place to buy Stellar (XLM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Stellar (XLM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Stellar (XLM)?
The trading volume of Stellar (XLM) is $2.7B AUD in the last 24hrs, representing a +2.92% from the day prior.
How can I buy Stellar (XLM)?
Stellar (XLM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Stellar (XLM)?
The current market cap of Stellar (XLM) is $11.0B AUD.
Can I convert Stellar (XLM) to cash?
Yes - With Coinstash you can convert your Stellar (XLM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Stellar (XLM) are there?
The current circulating supply of Stellar (XLM) is 30.0B.
Is Coinstash a safe place to buy Stellar (XLM) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Stellar (XLM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.