Stellar (XLM) is another decentralized, peer-to-peer payment network often compared to its main competitor, Ripple (XRP). That is no coincidence. Both were created by Jed McCaleb, an American programmer who served as CTO of Ripple until 2013 when he left to start Stellar. While the two share many similarities, they also showcase some key differences as well.
Stellar is geared towards retail individuals sending money as opposed to the institutions that Ripple targets. Also unlike Ripple, Stellar is a truly decentralized network that allows one type of currency to be sent from one peer and arrive as a different currency to another peer. The Stellar Network completes this task by monitoring demand from network users. For example, if one network user really wants USD, they simply need to buy Lumens (XLM) and search for an XLM/USD seller so the transaction can be made.
All of these exchange capabilities are enabled via “Anchors'' in the Stellar Network. An Anchor holds onto the deposit from one user while simultaneously sending the credit in a different currency to the second user. The network has numerous Anchors on the network allowing transactions to occur extremely fast.
YouHodler aggregates prices from top centralized exchanges to provide an accurate Stellar price and charts.
The easiest way to buy Stellar is to purchase it through a crypto app like YouHodler. Our universal cryptocurrency exchange service lets you convert any crypto, fiat, or stablecoin with competitive fees.
The best way to earn interest on Stellar is by depositing it in a YouHodler savings account. Interest payments occur weekly and YouHodler features compounding interest.
You can get a loan with Stellar in stablecoins by depositing your Stellar as collateral. YouHodler offers the best rates you can get anywhere. Don’t sell your crypto. Use it as collateral and keep its value for later.
Leverage market volatility to stack your crypto portfolio and trade Stellar with Multi HODL. Multi HODL is a user-friendly tool to take advantage of market swings in either direction. Become an “active HODLer” today.
.svg){kind=small}
