Since it came to light in 2014, Lumen has attracted a massive crowd of investors, thanks to its contribution to Stellar’s global payment systems. Since then, Stellar Lumens have witnessed significant growth, and also its recent gains have begun to attract a fresh batch of investors.
If you are considering investing in this crypto, then it is high time you learn how to understand and use Stellar Lumens price prediction and the intricacies behind the transaction process.
Stellar Lumens – An Introduction
A Stellar Lumen is a form of cryptocurrency that majorly trades on an open-sourced and decentralized payment protocol Stellar network. To put it in simple words, Stellar is closely similar to Bitcoin, but it is more scalable, cheaper, and faster to process.
Stellar is also often associated with Ripple; however, the main difference lies in its functionality. While Ripple targets banks like HSBC and Santander, Stellar, on the other hand, primarily focuses on providing up-to-date banking services for different individuals.
This way, the platform seamlessly connects various institutions, individuals, and payment systems across the world.
If you are planning to work with this platform, there are certain factors you must consider before making a decision. From analyzing the latest Stellar Lumens price prediction charts to learning the benefits of nominal transaction fees and more, you must first understand the basics of investing in Stellar Lumens.
Things to Consider Before Investing In Stellar
Like most of the other cryptocurrencies, Stellar Lumens also uses blockchain-based technology to process transactions. So, the transactions on the Stellar network go into a distributed and shared public ledger, which is easily accessible by anyone around the globe.
In addition to this, there are many other ways in which you can benefit by investing in Stellar Lumens.
Democratic and Transparent Management
Generally, blockchain networks are democratic platforms by nature. Many founders and the top-tier community members tend to make decisions independently without considering the stakeholders’ sentiments.
However, with the Stellar network, all the potential partnership projects are voted on before the community members move ahead with decisions. So, if you are contemplating investing in crypto with democratic management in a real sense, then Stellar Lumens should be your first choice.
Minimum Transaction Fee
When you try to send digital cryptocurrencies like Bitcoin or any other form of fiat money across the border, you may have to pay a high price in the form of a transaction fee.
With Stellar Lumens, your transaction fee will only be a negligible or minimum amount of 0.00001 XLM. In case you are wondering, this amount is almost close to no transaction fee. It also means that the currency has a good competitive edge over other forms of altcoins, especially when it comes to the transaction fee.
Good Community Following
Yet another reason why Stellar remains relevant in the crypto landscape is because of its highly dedicated community following.
With a talented group of financial backers, software engineers, supporters, and more, the community continues to grow exponentially. However, before investing, remember that it is essential to stay on top of stellar lumens price prediction estimates. You can do this by joining the Lumens community and keeping up with the latest crypto news.