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Stellar or XLM? How to Buy XLM in Canada?

The Stellar network is a truly decentralized peer-to-peer framework, while Lumens, XLM, is the token used on the network itself. The network was founded in 2014 and since then Stellar Lumens has become the 14th cryptocurrency at the time of writing in May 2020. Hereu2019s a brief article to help you know How to Buy XLM in Canada?

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Stellar or XLM? How to Buy XLM in Canada?

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  1. Stellar or XLM? How to Buy XLM in Canada?

  2. The Stellar network is a truly decentralized peer-to-peer framework, while Lumens, XLM, is the token  used on the network itself. The network was founded in 2014 and since then Stellar Lumens has become the 14th cryptocurrency at the time of writing in May 2020. Here’s a brief article to help you know How to Buy XLM in Canada?Lumens were invented to help people overcome the problems posed by cross-border transactions. These problems are long transaction times and high fees. Lumens sought to alleviate these problems for retail users by providing a fast and inexpensive method of sending money around the world. 

  3. Developers understand that not everyone in the world has easy access to financial services, and even if they do, they may be too expensive for them. As such, the team is dedicated to providing people around the world with access to financial systems as long as they have a working internet connection and basic hardware.

  4. Are Stellar Lumens Real Money? While Lumens have intrinsic value, the token's primary use is to act as a bridge between other currencies. As such, it is more helpful to understand it is not about money. The ability to convert currencies for users, and in such a short period of time, stands apart from conventional fiat currencies that can often be described as "real money". 

  5. How secure do you think Stellar Lumens are?  By charging a fee per transaction, as well as requiring a minimum of 1 XLM in the Lumens wallet at all times, Lumens provides some level of protection against flooding attacks. This is where hackers try to flood the system with a large number of micro transactions. Stellar Lumens protected against such attacks by simply making them too expensive for a hacker to generate any achievable benefit. As proof of these measures, the Stellar Network has never been subjected to a serious attack. 

  6. Which team is developing Stellar Lumens?  The Stellar Development Foundation is a diverse team working at Stellar to help "unleash the world's economic potential by making money smoother and people more empowered." They seek to achieve this by constantly looking for ways to improve the Stellar network and its Lumens.  The Foundation is committed to raising awareness of Stellar, creating an easy-to-use interface for cross-border payments, and interacting with policymakers and leaders around the world. 

  7. How To Mine Stellar Lumen?Lumens cannot be mined. Instead, the Lumens supply is controlled by Stellar. Initially, 100 billion Lumens were created and the supply increased by 1% every year for 5 years until the Stellar community voted against.

  8. Stellar took the advice of the community and halved its existing Lumens to 50 billion, vowing never to do it again. Of these 50, only about 20 billion are in circulation, with the rest held by the SDF for development and promotional purposes. Since there is no mining, XLM transactions are done through the consensus protocol between accounts. 

  9. What Is A Stellar Lumens Wallet?The Stellar Lumens wallet is the software that stores XLM inside it. Stellar Lumens wallet requires a minimum of 1 XLM. This criterion works in the same way that minimal transaction fees are a deterrent to possible interference with the Stellar network. This makes it more expensive for flood attackers.

  10. Are Stellar Lumens Worth the Investment? This question cannot be answered for you. Cryptocurrency prices can be extremely volatile and therefore can easily incur losses. You should never invest in Stellar Lumens or any other cryptocurrency unless you have done your research thoroughly. More importantly, you should never invest more than you can afford to lose. 

  11. Want to know how to safely invest in Stellar Lumens? Check out our full Stellar Lumens buying guide here or buy from the cryptocurrency exchange Canada known as Netcoins!SOURCE CREDIT: https://cryptocurrencycanadiantax.blogspot.com/2022/03/stellar-or-xlm-how-to-buy-xlm-in-canada.html

  12. THANK YOU FOR WATCHING

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