When I got into cryptocurrency I started with Coinbase. What I found fun was watching a few videos on Coinbase and getting a little free crypto. One that I earned was Stellar Lumens. After earning a variety from their videos, I started digging deeper into each of them. I wanted to learn as much as I could about what it was I now owned.
Stellar Luman (XLM) had an attraction that today, about a month later from earning it and buying some, I still can't shake. While the price has dropped a few cents since I bought it, there is just something about it that I think has promise.
Stellar's website talks about how it can help build global payment apps, asset exchanges, and micropayment services. There then is a list of companies who have chosen Stellar for their money moves: Bitbond, Securrency and Blockchain.com just to name a few.
What keeps me hanging onto my XLM is that it has the potential. Stellar invested in DDSTOQ which to most people may not mean much, but the app provides investing in markets like Brazil and Nigeria. There is some thought that this investment might be exactly what emerging markets need in order to buy stocks where currently they cannot. Imagine being the one to bring this to less developed countries?
Ripple (XPR) clearly is ahead of Stellar but Ripple has some issues including being sued by the SEC. On June 15, 2021 a judge granted the SEC's motion for additional time to conduct discovery in their case against Ripple. That could be interpreted as good news for Ripple, but it could also be interpreted as bad news. If the SEC needs more time, they are either not finding what they hoped to find and are just on a fishing expedition or, and more likely, they have put together some pieces and just need more time to complete the picture.
The folks at Stellar should be watching this closely. It would seem that if Ripple loses this case, Stellar could be poised to step into their place, that is, provided they learn from what the SEC is accusing the co-founders of Ripple of doing. If Ripple wins this case, Stellar is going to have to figure out how to capitalize on its differentiation from RIpple. Ripple already is working with banks like Bank of America lending instant credibility to it.
I think the draw to Stellar, though, is their differentiation. At least my draw to Stellar centers on how they are different. Stellar is really focusing on less developed countries. There is something noble in what they are working to accomplish and if successful, it could be a real global game changer. Ripple has the opportunity to have their own game changer if they first win this lawsuit and then working with the banks to cut the costs and reduce the time of transferring money.
This is what I've learned in a month. Feel free to comment with other information that someone who is new like me needs to know.