Stellar: An Open Network For Storing And Moving Money
The Stellar Platform

Stellar: An Open Network For Storing And Moving Money

Founded by Jed McCaleb in 2014, who is also the founder of Mt. Gox and the co-founder of Ripple XRP. He collaborated with Atty. Joyce Kim to develop the network system called Stellar.

The Stellar Platform

Stellar is a platform that connects banks, payment systems, and people.

So that money can flow quickly with less transaction fees between banks, businesses and even for personal use, Stellar unites the world's financial infrastructure with ease and reliability.

Today's global financial infrastructure has a big communication problems which makes it difficult to process oftentimes. This is the main goal of Stellar, to make global transactions as quickly as possible without the aid of any intermediaries that results in a lengthy process of transfer.
decentralized open network that speaks to its open payment system by its native language. It means that funds can be transferred in seconds, no matter the distance or location as long as you have a Stellar Wallet.

Its main purposes are:

  • To send money to your love ones as remittances
  • To convert one currency to another
  • And to pay or receive payments even in small amounts that normally incurs huge processing fees


The Stellar Lumens (XLM)


The Lumen is the native asset of the Stellar Network.

Originally, Stellar is a platform that connects banks, payment systems, and people so they can move money anywhere in the world.

These Lumens (XLM) serve as a universal translator between each currency.

Imagine a business in the United States needs to pay a supplier in China. They got a US-Dollar Bank account in Kansas City but they need to make a payment to show in Chinese Yuan to the supplier's account in Guangzhou.

What can they do?

They could try to send money the traditional way via Wire Transfer. But the wire transfer would cost a lot of money and it takes a lot of time to reach the supplier's account. Let's dig deeper.

International wires takes several days to clear.


Each of the intermediaries takes a percentage of the transaction. As money moves around the world, the fees pile up. The business in Kansas City loses more and more cash to unnecessary middlemen.

As a comparison, what if the business uses Stellar? It has a decentralized exchange built right into the protocol. It can route a payment in USD from its order books so it comes out in the other end as Chinese Yuan automatically.
US-Dollars can be converted to Lumens and then can be converted into Chinese Yuan.


This can be done in 5 seconds with a fee of 1/10000 cent or $0.000001

Efficient, scalable and serves a a universal translator assets.

A really big leap in the financial infrastructure. And that is what Stellar can provide.


Remittances Using The Stellar Network

The Remittance business transactions cover $600-Billion annually.

Why? Imagine a $20 being transferred from the United States to the Philippines will cover $9.99 for the recipient to receive from Bank to Bank transfer. Which in reality, there are millions of other people doing the same thing every time they send money to their loved ones overseas.

The average fee that being charged when you send money as a remittance is 7.1% and when you multiply it into millions of dollars that is being sent in a year. That is how we came up with $600-Billion.

If we use the Stellar Network, in which a person sends $20 to another person to anywhere in the world, the person still receives the exact amount converted automatically in their respective currencies and not $20 minus the transaction fees.

Amazingly reliable, right? Not to mention extremely efficient.

Aside from this awesome platform that Stellar has provided us, users can also create their own tokens that can be used for their business. Once they wanted to create their own platform of exchange for their products, they can also create their own sort of loyalty programs given to their customers and consumers such as developing a token to be exchanged as payments or Coupon Code for a discount.

The best use-case that I was thinking is to develop a platform that will cater to the salaries of all employees whose organization is also using this technology.


The Stellar Lumens (XLM) As A Cryptocurrency In The Market

Owning a handful of this cryptocurrency is not that expensive. Imagine that it has a huge amount of supply just like Ripple (XRP) it will not really reach to a point where it would go beyond the $10 mark. Though it is not really an ideal digital asset for a day-trading, its stability in terms of its USD price will make you feel confident holding this currency for a long time. *Not a financial advice.


At the moment, if you want to buy Stellar Lumens (XLM) please check this awesome CoinGecko Widget:

It is currently in the Top 10 / 11 across all token / crypto listings around the globe. With a Market Capitalization of $1.145-Billion, you are sure that the whales and large-scale businesses trust this awesome coin as a long-term holdings. 

To start owning Stellar Lumens (XLM) you may create a wallet here:

Coinbase Multi-Cryptocurrency Wallet

To start trading Stellar Lumens and pairing it with other top digital assets, click here and register: BitForex

If you would like to get an in-depth information on some altcoins, please check out my featured digital assets I have shared.

Ripple (XRP)

Augur (REP) | Maker (MKR) | Syscoin (SYS) | Spectrecoin (XSPEC) | Groestlcoin (GRS) | Factom (FCT) | BitTorrent (BTT)

 ChainLink (LINK) | Banano (BAN) | ThoreCoin (THR) | LEO Token (LEO) | Unus Sed Leo (LEO) | Cosmos (ATOM)

Check out my latest posts here and don't forget to follow me for awesome stories & updates about cryptocurrencies, exchangers and technological breakthroughs around the globe.

If you have awesome posts like this to share (eventhough it is not a crypto-related topic) and you want to earn crypto as rewards for the efforts you did then join us now.

Click the link below, register and apply to become an author.

I would be more than willing to guide you how to earn just like what I did.

Cover Image Source


cryptocurrency enthusiast, writer-blogger, customer-service associate, pets & nature-lover.

Introduction To CryptoCurrencies
Introduction To CryptoCurrencies

Get to know more about each crypto being featured and how to earn them. This will tackle the most basic things that we need to know and how feasible it will be in the market.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.