Should You Buy Stellar (XLM)?

• Stellar (XLM) is a money-transfer network targeting to help global financial systems run together on one platform.
• Stellar had Lumens (XLM) as its native crypto.
• Cash transfers may cost around 6.5%, but Stellar transactions cost only a fraction.

Stellar is an established crypto project that didn’t perform amid the 2021 cryptocurrency frenzy. Its token XLM surges approximately 100% in 2021, lower than other cryptos that gained more than 5,000%.

Nevertheless, Stellar has been in the crypto spectrum since 2014, spending most of that period on the top 50 crypto-list by market cap, thus a lucrative project for long-term prospects.

Though it isn’t programmable like cryptos such as Solana and Ethereum, Stellar works on launching ‘smart’ contract functionalities. With Lumens, individuals can transfer cash globally in euros, BTC, and dollars. It works to ensure financial systems collaborate on one network.

XLM Basics

Stellar is a money transfer and remittance network designed to ensure smooth money transfer worldwide cheaply and quickly. It is similar to the well-recognized Ripple (XRP). However, Stellar concentrates on individuals, whereas Ripple emphasizes financial institutions.

About Stellar

• As revealed earlier Stellar uses Lumens (XLM) as a native token. Users should have XLM to complete transactions on the Stellar platform.
• Jed McCaleb, Joyce Kim, and David Mazieres cofounded the network.
• Launching date – 2014
• Market capitalization – $4.5 billion (16 March Coinmarketcap data)
• Availability – most leading crypto exchanges in the US.

Should You Buy XLM?

Stellar is a lucrative crypto project. It boasts a strong team and solves the real-world issue of high charges to complete international payments. Moreover, Stellar has renowned partnerships, including IBM, Circle (USD’s company), and MoneyGram.

Consider the problem a crypto project solves before investing in it. Stellar’s ability to offer quick and low-cost cash transactions certainly solve the problem of expensive cash transfers.

The World Bank assesses global remittance costs at 6.5%. That means sending money from the US might lose $6.50 for each $100 transaction. Moreover, Verified Market Research revealed that the remittance market was about $16B in 2020 and might hit $40B by 2028.

That makes Stellar a lucrative long-term project. Nevertheless, CBDCs and regulations might pose challenges in the future. Nevertheless, Stellar Lumens (XLM) remains a significant project to watch.