Why XLM is a Top Cryptocurrency to Watch in 2021
The world of cryptocurrencies has been growing and evolving at an exponential rate. Numerous digital currencies have been introduced over the years with some dominating the market while others fade away. One cryptocurrency that has stood the test of time and maintained a dominant position in the market is Stellar (XLM).
Stellar is a blockchain-based platform that aims to simplify the process of transferring money across borders. The platform uses its currency, XLM, to facilitate these transactions, making it a powerful tool for individuals and businesses that engage in cross-border payments.
What Makes Stellar Stand Out?
Unlike other cryptocurrencies that focus on decentralization and anonymity, Stellar’s primary focus is on providing access to affordable financial services to people around the world. Stellar was founded in 2014 by Jed McCaleb, the co-founder of Ripple, another popular cryptocurrency.
Stellar’s blockchain platform allows for quick transactions that are completed within seconds, making it a preferred choice for individuals and businesses looking for fast and efficient cross-border payments. Moreover, the platform’s fees are incredibly low, which is a significant advantage over traditional payment systems.
Partnerships and Collaborations
Stellar has formed several partnerships with various organizations to improve the user experience and provide access to affordable financial services. For instance, Stellar has partnered with IBM to create the World Wire platform, allowing businesses to perform fast and secure cross-border payments. Additionally, Stellar recently formed a partnership with Circle, a peer-to-peer payments technology firm, to increase the usability of its currency.
Growing Popularity
Stellar’s popularity has been on the rise since its inception. As of August 2021, XLM is among the top 30 cryptocurrencies by market capitalization, and its value has been steadily increasing over the past few months.
Furthermore, Stellar’s potential is enormous, given its focus on affordable financial services. The platform can help bridge the gap between traditional financial systems and individuals that have limited access to financial services.
Conclusion
In conclusion, Stellar’s focus on providing affordable financial services and its quick and efficient cross-border payment system makes it an attractive cryptocurrency to watch in 2021. Its numerous partnerships and collaborations also indicate a bright future for the currency and its platform. As such, individuals and businesses looking for fast and affordable cross-border payments should keep an eye on Stellar and XLM.
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