Buy Stellar (XLM)
What is Stellar?
Stellar is a decentralised, open-source network designed for cross-border payments and asset transfers. It utilises distributed ledger technology to facilitate fast, low-cost transactions.
How does Stellar work?
Stellar operates on a distributed ledger known as the Stellar blockchain. Transactions are recorded and confirmed by a network of nodes using the Stellar Consensus Protocol (SCP), which is based on the Federated Byzantine Agreement (FBA) algorithm. This mechanism enables fast and secure transactions without the need for traditional mining processes.
What are the potential use cases for Stellar?
Stellar has a wide range of potential use cases, including:
- Cross-Border Payments and Remittances: Enabling quick and cost-effective international transactions.
- Financial Inclusion: Providing access to banking services for unbanked and underbanked populations.
- Asset Tokenization: Facilitating the creation of digital tokens representing fiat currencies and other assets.
- Supply Chain Management: Enhancing transparency and traceability.
- Micropayments: Supporting small transactions, ideal for digital content monetisation.
- Decentralised Finance (DeFi): Creating applications on its network for financial services.
- Gaming and NFTs: Tokenising in-game assets.
- Charitable Donations: Facilitating direct and transparent aid distribution.
What is the history of Stellar?
Stellar was co-founded by Jed McCaleb and Joyce Kim, launching on July 31, 2014. It started as a fork of the Ripple codebase and was developed to create a decentralised platform for financial transactions. Significant events in Stellar's history include partnerships with major organisations like Deloitte and the introduction of its native cryptocurrency, Stellar lumens (XLM), in 2015. In 2019, the Stellar Development Foundation reduced the total supply of lumens by burning half of the tokens, which impacted its market dynamics. Over the years, Stellar has evolved to include a decentralised exchange and achieved regulatory compliance, notably obtaining a Shariah-compliance certificate.
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Frequently Asked Questions (FAQs)
What is the current price of Stellar (XLM)?
The Stellar price is $0.55947984 AUD, representing a -2.97% from the day prior.
Where is the best place to buy Stellar (XLM) in Australia?
The best place to buy Stellar (XLM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Stellar (XLM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Stellar (XLM)?
The trading volume of Stellar (XLM) is $444.2M AUD in the last 24hrs, representing a -2.97% from the day prior.
How can I buy Stellar (XLM)?
Stellar (XLM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Stellar (XLM)?
The current market cap of Stellar (XLM) is $16.9B AUD.
Can I convert Stellar (XLM) to cash?
Yes - With Coinstash you can convert your Stellar (XLM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Stellar (XLM) are there?
The current circulating supply of Stellar (XLM) is 30.3B.
Is Coinstash a safe place to buy Stellar (XLM) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Stellar (XLM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.