2017 was a mixed reaction year with the bitcoin fever going up and suddenly being overridden by cryptocurrencies which was quite a surprise to many people. In fact, the popularity of cryptocurrencies skyrocketed so much that most bitcoins were not even among the top ten performers. For instance, the value of cryptocurrencies gave many people a run for their money after it rose from a mere $17 billion to about $600 billion. Even though the bitcoin lovers seem to have hopes in 2018, sorry but the cryptocurrency craze does not seem to be ending anytime soon with myriads of corporations and governments showing interest in this new blockchain.
Nevertheless, it was a year that had various cryptocurrencies in battle with stellar rising above the ranks so rapidly that as we neared the end of 2017, it was already occupying the top positions. If you thought that was it for that currency, then you are in for a pleasant surprise because this new crypto coin stellar (XLM) shows even strong growth in 2018. It took the market by storm, and even though it faces tight competition from Ripple, Stellar seems to have a more promising performance in this year. Although crypto coins such as Dogecoin and monero have been around for quite some time now, stellar came and conquered them all, and if you are wondering which currency you should invest in, then it may be a good choice. If you are wondering the reasons behind that conclusion, then read on to find out what it is, how it works and the reasons behind its surge.
New crypto coin stellar (XLM) shows even strong growth in 2018
Stellar lumen (XLM) is a decentralized but hybrid blockchain backed by the international business machines Corporation commonly referred to as IBM or big blue and a few other banks. The primary purpose of the launching of stellar was to use it as a bridge between fiat currencies and also to help clear cross-border payments.
The reason why perhaps new crypto coin stellar (XLM) shows even strong growth in 2018 is because it has helped simplified transactions carried out across the borders in a major way. Usually, significant money transfers done internationally are costly and also involve a complex process including intermediaries. By using stellar coins, the complicated and time-consuming process is made much easier, and that is the main reason why many companies and investors are embracing stellar lumens. Another reason why most people are choosing to invest in it is that it is backed and endorsed by prominent players in the financial industries. For instance, besides IBM, there are thirteen financial companies which are part of stellar lumens such as BBVA, Bank Danamon Indonesia, Mizuho financial group, TD Bank, National Australia Bank, Kasikornbank Thailand and many other prominent names which continue to embrace such as Satoshi pay. Therefore it is likely that more big names and prominent investors will join the stellar community making it even more significant and fruitful.
Summary of why new crypto coin stellar (XLM) shows even strong growth in 2018
- Easy international transactions. Members do not have to wait for a bank transfer as they can send funds instantly on stellar’s network hence making the process simpler and eliminates the need for intermediaries. Therefore it helps move money across different parts of the world quickly and more securely
- The exchange is not limited to fiat currency. Instead, it includes many other cryptocurrencies
- It boasts prominent investors such as IBM, BBVV, National Australia Bank, word press and many others who help boost the confidence and win the trust of many other investors