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XLM is the native cryptocurrency of the Stellar network, a blockchain platform designed to facilitate fast, efficient, and low-cost financial transactions.
How it works:
* Decentralized network: The Stellar network functions as a payments infrastructure that directly connects two end users, whether individuals or businesses.
* Cross-border transactions: XLM allows transactions with different fiat currencies and cryptocurrencies, making it an interesting option for international transfers.
* Low cost: Transaction fees on the Stellar network are generally very low.
Uses of XLM:
* Cross-border payments: XLM can be used to send and receive money quickly and at low cost in different currencies.
* Micropayments: Due to its low fees, XLM is suitable for micropayments and small transactions.
* Financial integration: The Stellar network can be used to connect different financial systems, such as banks and payment institutions.
Advantages:
* Speed: Transactions on the Stellar network are very fast.
* Low cost: Transaction fees are generally very low.
* Scalability: The Stellar network is designed to handle a large volume of transactions.
Disadvantages:
* Volatility: Like most cryptocurrencies, the value of XLM can fluctuate significantly.
* Regulation: Cryptocurrency regulations can vary from country to country, which may affect the use of XLM.
Where to buy XLM:
XLM can be purchased on a number of cryptocurrency exchanges, including Binance, Coinbase, and Kraken.
It is important to note:
* Investing in cryptocurrencies involves risks.
* Do your own research before investing in any cryptocurrency.
