🔹Stellar Lumens $XLM
The XLM currency, known as Stellar Lumens, is the digital currency that powers the Stellar network, which is a platform designed to facilitate fast and low-cost cross-border financial transfers 💱🌍
🔹 Why was it created?
* Stellar was launched with the aim of connecting different financial systems around the world, especially to help people without traditional bank accounts 🏦❌
* The idea is to make sending and receiving money as easy as sending an email... simple and fast 💌⚡
🔹 How does it work?
- The Stellar network allows for currency transfers (like dollars, euros, or even digital currencies) from one party to another in seconds, regardless of distance or currency type 💸➡️💸
- Here, the XLM currency is used as an intermediary in these transactions to ensure speed and reliability 🔁
🔹 Benefits of XLM:
* Very fast transfers ⏱️
* Extremely low fees that are almost negligible 💲
* Supports both digital and traditional currencies 🌐
* Partnerships with global financial institutions 🤝
🔹 Is it decentralized?
Yes, the network is open source and not controlled by a single entity. This means greater transparency and less control by centralized institutions 🔓
🔹 Can it be used in daily life?
- Stellar is particularly used for transferring money between countries, especially in places lacking advanced financial infrastructure. It can also be used on cryptocurrency trading platforms 📲💵