What are Stellar Lumens and should I buy them?

Stellar Lumens (XLM) are a growing cryptocurrency on the Lumen Blockchain. Stellar Lumens (XLM) has a market cap of $7.5 billion.

The non-profit Stellar Development Foundation aims to create a borderless and universal blockchain network that will help “unbanked” users in developing countries process international financial transactions. These types of investments usually see little return as most of the profit is returned to the mission. That said, early investors in Stellar Lumens (XLM) have seen handsome returns.

So what is the benefit of the Stellar Lumen?

Unlike transactions on the Etherum network that can cost hundreds of dollars in “gas” fees, transactions on the Lumens blockchain cost only a few pennies and settle in as little as five seconds. Transaction processing time has been a real pitfall for other forms of crypto in the past. Bitcoin transactions can take anywhere from 5 minutes to 5 hours, depending on the miners and the associated fees. While traditional foreign exchange markets from 1 to 5 days to complete. The 5-second settlement with Lumens (XLM) is a huge benefit to the platform.

Speaking of foreign exchange fees, they can range from 1%-3% making Lumens ideal for large international money transfers. Without the hefty foreign exchange fees for cross-border transactions, we envision a future with no need for large banking institutions. This all works due to the Stellar Consensus Protocol (SCP), which utilizes nodes or individual users running Stellar’s software. These users validate transactions (for free, kinda like Wikipedia editors). This keeps the network fees as well as the environmental impact relatively low. It has its own decentralized exchange (DEX) that lets users trade crypto-crypto currency pairs and runs a fiat-crypto gateway that allows users to cash out in euros or the yuan.

What is exciting about XLM?

The Stellar Development Foundation is seeking to acquire Moneygram!

Bloomberg reported the Moneygram/Stellar story on July 21 and the foundation has brought on Advent International to help pay for this acquisition. While there has been no deal reached as of this posting, Moneygram has long focused on person-to-person payments making this a good fit. Using Moneygram as a blockchain option for users who need to transfer assets would not only promote Stellar Lumens and the XLM token but would also drive the price of the XLM token up.

Moneygram has already dipped its toes into the crypto market. Since May their users have been able to buy and sell Bitcoin (BTC) through Coinme.


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