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Stellar XLM is just one of the many crypto assets and payment modes currently available on many crypto exchanges. Because of its popularity, you may be wondering if XLM is a good investment for you. To make this decision and understand how to buy Stellar in Canada, we need to consider Stellaru2019s history and track record to date.
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Stellar XLM is just one of the many crypto assets and payment modes currently available on many crypto exchanges. Because of its popularity, you may be wondering if XLM is a good investment for you. To make this decision and understand how to buy Stellar in Canada, we need to consider Stellar’s history and track record to date.
What is a Stellar?Stellar is a decentralized network that allows users to create, transfer and trade multiple types of cryptocurrencies. It was created in 2014 and launched in 2015 with the mission of bringing the world`s financial systems together under one network.Like other decentralized platforms and exchanges that use blockchain technology, Stellar is spread across multiple servers. This means that the activity carried out on Stellar is not monitored by a single source.
History of StellarStellarbegan in 2014 when Jed McCaleb left Ripple, a platform he co-founded, to create a new financial system. McCaleb and former lawyer Joyce Kim launched Stellar as a platform for the everyday user. Shortly thereafter, Stripe CEO, along with McCaleb and Kim, created the non-profit Stellar Development Foundation.Stellar has experienced a lot of growth, such as when Mercado Bitcoin announced its use of the platform. In less than a year, Stellar has hosted nearly 3 million user accounts.
What is a Stellar lumen?The Stellar platform is open to any representation of fiat and crypto assets, but offers its own digital currency, Lumens, or XLM, which is the backbone of the network.What is Lumen?Lumens are most commonly used to pay transaction fees on Stellar. However, Lumens also serve as an intermediary currency that allows Stellar users to make fast transactions.
The built-in protocol automatically converts money sent through Stellar into lumens, then into the desired coin. At launch, the platform’s own currency was referred to as a “star”. Stellar later changed its name to Lumens, but the original name remains with many people, so you can still hear the term Stellar. Also, while Stellar and Lumens are used interchangeably, Stellar is the platform itself. Lumens or XLM is a cryptographic asset used by the platform.
How to buy Stellar in Canada?Start Buying XLM in 3 easy steps with Netcoins1. Create an Account: Provide some personal details and get verified in minutes through our automated KYC process.2. Fund (No Fees): Fund your account with a cryptocurrency deposit, Interac e-Transfer, online bill payment or bank wire transfer.3. Start Trading: Buy and sell as little as $10, or up to $10 million with no slippage due to our deep liquidity.
Cryptocurrency and its investment have made wonders for individuals around the world. Check out Netcoins for buying or selling Ethereum in Canada. You can also invest or trade in other cryptocurrencies like Bitcoin. Ripple, etc.SOURCE CREDIT: https://vancouvercryptoexchange.wordpress.com/2022/02/15/basics-of-stellar-how-to-buy-stellar-in-canada/
