Five things you should check before investing in XLM
If you are keen on investing in digital currencies but looking for an affordable choice, you may come across XLM or Stellar. Find out what you need to know before investing.
XLM remains a popular choice for people who are looking for affordable cryptocurrency options. The price for the coin is around 0.24 USD, which is modest when compared with other coins. So if you look at the currency in terms of affordability, it can seem like an attractive option.
While BTC and ETH may be leaders when looking at the top-performing coins, they are also the most costly. But for affordability, few can beat XLM.
We know most low-cost and affordable coins as meme coins, but these have very little use. However, this is not the case with Stellar. The coin has been in the market since 2014 and still has maintained its value in the real world. If you are considering investing in this coin, read on for five things you need to know. For more information about Bitcoin and other tokens visit trontokens.
1) XLM is a payment network sending currencies of different types
XLM is an open-source payment network developed to transact a wide range of currencies from one platform to another. You can even transact in fiat currencies like USD or Euro, depending on your requirements and the different types of crypto coins.
Every day you can see millions of transactions taking place using this coin. Stellar is a popular choice thanks to its efficiency and speed. Transactions take minimal time and money to complete.
2) Lumens belong to XLM as native crypto
Lumens are always linked to this coin, which is its native crypto token. These are also called Stellar Lumens. As it helps transact different coins, including BTC and Doge, you can also find these using the technology of XLM.
You can quickly sign up and start trading. First, you will need an account, and then you can hold the coins there with the help of lumens. The transaction cost using this coin is relatively low. Lumens often work with XLM; however, you can also procure it for investment purposes.
3) It saw considerable growth in 2021
In 2021, the coin witnessed good growth, reaching up to 108%. The coin was launched in 2014, and since then, this currency have had eight years to mature, making it among the oldest in the market. You can find the reports from groups like SDF and check its popularity in the market.
4) It collaborated with big companies
As reports show, the coin has collaborated with many well-known companies, including MoneyGram and IBM, enabling them to offer quick and affordable payment options.
Some of the more notable ventures of the coin include working with IBM to establish their overseas payment system in real-time. They call it IBM World Wire, and is only possible only through XLM.
They also facilitate cross-border money transfers using MoneyGram. You can validate the documents using its network known as Blocknify, too. And finally, if you need simplicity for money transfers between Europe and Africa, you can use Flutterwave.
5) Digital currency has yet to make its mark
The coin has progressed a lot and achieved 108% growth in 2021. However, it is yet to cross the price of 0.94 USD, as seen in 2018. There are several reasons why many investors are now becoming aware of this coin.
It’s important to note that all crypto, including Stellar are volatile coins. But it’s also not inconceivable that this coin has yet to achieve its highest position.