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The basics of crypto trading

Stellar

stellar
Year 2015
Founders Jed McCaleb
Origin -

Stellar is a highly liquid and highly technological coin. Its platform may be used for creating smart-contracts and conducting ISO. Stellar's low fees and lightning-fast transaction times make it an excellent exchange option.

What is Stellar

Stellar is one from the ten biggest cryptocurrencies in the world. Stellar is the sixth-largest cryptocurrency by market capitalization after such top currencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash.

What is Stellar

The coin has specific stability due to its own individual parameters. Even when interest in the well-known and major cryptocurrencies is decreasing, XLM keeps growing.

Stellar is a full-fledged platform for the exchange of absolutely any assets with “here and now” principle. The platform has a not regulatory body. Decentralization makes the network more convenient and safe for users. Developers of the platform created their own token - Stellar Lumens (XLM). The token is a full-fledged cryptocurrency as it is having its own network of blocks.

Linking to the platform allows:

The coin is very popular as the network moves money fast (just three to five seconds). Due to the very high data processing speed the system is capable to implement thousands of transactions per second. There are other features that constantly lead to increasing amounts of interest in the Stellar:

The first payment must be made upon registration. It is 20 coins. The full amount of the first payment will be posted to the user’s account immediately.

Stellar has potential no less than Ether and other popular cryptocurrencies. High transaction speed and its security just raise interest to Stellar. To ensure a high level of security and protection of users and their coins scrupulous data analysis is employed. A used system has already proven to be effective for a long time. That is why it is used in onboard systems of spacecraft and aeroplane Boeing 777 and 787.

The History of Stellar

XLM is considered to be a hard fork in the Ripple protocol. Ripple had appeared in 2013. Developers of Ripple had a large and prevailing number of coins. This fact undermined the idea of a decentralized, unregulatable, and purely digital form of cash.

On September 2013 Ripple source code became open. Jed McCaleb, one of Ripple developer, had a huge amount of XPR. He decided to sell tokens and invest money into the creation of fork. The new coin was turned out to be more technological.

Whatis interesting about Ripple that judge ruled that the sale of Ripple was legally invalid. As a result, a wallet that belongs to the company's former co-founder had been frozen. He still had kept near $40 million in his account and not been able to withdraw money.

Jed McCaleb is one of the founders of Stellar Development Foundation. This company created Stellar network. The platform had been built in 2014 and the first coin had been issued on 8 April 2015. The American company Stripe became a leading investor into the platform. Stripe also controls the platform’s entire operations. In 2017 upon conclusion of a collaborative contract with IBM number of investors had substantially increased. As a result, asset value had grown notably.

The History of Stellar

Since December 2017 the price of the coin has been growing steadily and on January 2018 Stellar has reached its peak. On that time the price of each coin has gone slightly over $0.85. Since then the price has unevenly fallen.

coin has been growing steadily

The current price of the coin is $0.24474. It is a relatively low price. But Stellar is now the sixth-largest cryptocurrency by market capitalization, (its market cap is over $4,6 million).

Positive and negative feedbacks

Users who had tried Stellar platform and bought these coins note the following advantages:

Mandatory initial payment to get started using the platform and payment of fees are disadvantages of the platform. But these fees are so small that many users are ready to pay for making fast and secure transactions.

Forecast of further development

It's very hard to make any prediction and forecasting the cryptocurrency market. There is no simple answer for Stellar future and the instability on the whole crypto market is a good reason for this uncertainty. Analysts note that the following factors can raise interest in the coin:

Future of the platform development is unknown and highly uncertain and this is its disadvantage. Programmers do not share their plans with coin holders.

Analysts note Stellar is a perspective coin with a bright future. But they do not recommend investing in Stellar all your money in order to avoid high risks. Some experts think that Stellar won’t be a key cryptocurrency. Stellar will only ensure high liquidity of the entire crypto market and be used for exchange keeping high and stable exchange rate.

How to use Stellar?

Lots of people might have heard of cryptocurrency, and they ask the question how to mine coins. Stellar programmers do not develop mining functions because absolutely different algorithms are executing transactions here. Reliable cryptocurrency faucets for Stellar mining do not exist now. So if you would like to purchase Stellar you can:

  1. Buying cryptocurrencies from cryptocurrency exchang As current news claims, the coin is highly liquid so that buying or selling it can be done without problem and it won’t take a lot of time.
  2. Purchasing from a private investor. This is the most insecure option as fraud probability is highest.
  3. Acquire the cryptocurrency from cryptocurrency exchange. With the growing popularity and the demand for Stellar on the rise, the coin is listed on many platforms. You can buy coins but also trade with it in cryptocurrency exchanges.

For keeping coins much better to use a cold wallet. The hot wallet is suitable for active traders. The cold wallet is more secure. Programmers did not develop an official wallet but there many reliable versions that users are using for working with Stellar.

You can earn money from a coin by the price difference between exchange and by making a long-term investment. In most cases, coin is used as a mean for fast exchange into other digital currencies.

Latest news of Stellar

On July 31, the Stellar team discussed the most effective approaches to building the ecosystem activities at the SDF center. The users were hoping for the meeting to help in the planning of the cryptocurrency capitalization. This is where the primary focus of the development team is at the moment. As for now, the key factors that should be mentioned concerning the assets are as follows:

  • Stellar has a positive swing after breaking-up the descending channel pattern;
  • There is a sharp price recovery after a significant rollback to technical support;
  • XLM has now won the market, although it is the short-term perspective.

Over the past days, Stellar traders have contributed a lot into buying crypto assets, which has greatly influenced the business. This has led to price growth of 4.23%. As a result, the technical indicators are now turning positive, which is a “green light” for buying even more assets.

Not much is happening to the Stellar digital asset in recent months. The coin was stable and didn’t have any distinct ups or downs. The last major event that concerned Stellar has happened back in May and influenced the first half of June when the whole network suddenly experienced a shutdown.

That night the cryptocurrency blockchain was unavailable for two hours. Due to a system error, user transactions were not being confirmed. The validators of the Stellar Development Foundation (SDF) simultaneously went offline, with the result that the cryptocurrency network did not function for a while, reports The Block. For two hours there was no consensus and transactions were not confirmed.

The reasons for disabling SDF nodes are not yet known. One of the representatives of the Stellar team wrote on Reddit that developers are working to fix the problem. The failure did not affect the rate of cryptocurrency. Over the past 24 hours, the coin increased by 14.28%. The coin is now valued at $0.137.

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