Wondering How To Buy Stellar Lumens In Canada? Here’s A Comparison Between Stellar And Ripple?
Ripple and Stellar are two of the companies that offer electronic money and, because they are not popular like Ethereum or Bitcoin, you may not know many things about them. However, when reading and researching about them, you notice some similarities, this makes your choice more difficult. Fortunately, that’s exactly what we are here to show you what makes them different send, if you choose Stellar, let’s find out how to buy Stellar Lumens in Canada?
Stellar vs. Ripple: Overview Ripple and Stellar have similar cartridges and, because of that, many people end up comparing both. These are two altcoins that have been around for over 6 years. Back when one Bitcoin hit $20,000, Stellar and Ripple also gained a lot of ground. Stellar and Ripple were founded by the same person, Jed McCaleb. He teamed up with Ryan Fugger to create Ripple and XRP. Its goal is to be a non-process-based cryptocurrency network that consumes as much energy as Bitcoin.
However, after that, McCaleb and the rest of the Ripple team started having major disagreements. As a result, McCaleb decided to leave. Then, along with co-founder Joyce Kim, McCaleb launched Stellar. To compare Stellar and Ripple, you need to understand them and their differences. Here are some details on both so you can make an informed decision.
What is Ripple? Ripple is a network that uses the XRP token. It was created in 2012 by Chris Larsen and Jed McCaleb. Ripple is the technology used, while XRP is the token. The cryptocurrency Ripple has the 3rd largest market cap. Ripple makes it much easier and faster for banks to make transfers. In general, those using Ripple can make international transfers complete in seconds and the prices are also very low. This is to avoid any problems with the cross-border payment system, such as high prices, inefficiencies and lack of speed.
The company uses distributed ledger technology. Therefore, it is not necessary to have a third party to make the transfer. Cross-border money transfers can be done quickly while reducing some costs in the process. On top of all of this, XRP can provide very good liquidity to banks. Furthermore, even though banks are the main users and they are the target market, everyone is free to use Ripple as they wish. Even crypto enthusiasts can take advantage of this incredible technology.
Let’s lean more about Stellar Lumens! What is Stellar? Stellar was founded by Jed McCaleb, one of the co-founders of Ripple. The company was founded in 2014. Its cryptocurrency is called XLM or Lumens. Just like Ripple, Stellar is also very affordable and transfers fast, and it has a very similar encryption. Since it was created by one of the co-founders of Ripple, it shouldn’t be a big surprise.
Stellar’s cryptocurrency is more accessible to the average individual. That’s what makes it unique. Unlike Ripple which is more about banking, Stellar is more focused on people, especially those living in still developing parts of the world. Thus, people living in rather poor areas of the planet will be able to interact with the global economy. Not only that, the price is also not high so trading will be easier for them.
Direct exchange of fiat currency is also possible through the protocol followed by Stellar. Usually, the sender’s funds are converted to Lumens, while Lumens are converted to the receiver’s currency. Be it Ripple, Stellar, Ethereum or getting to know the best way to buy bitcoin in Canada, Netcoins is one of the best platforms for easy transactions. Sign up with Netcoins to create your own account and start building your cryptocurrency portfolio. SOURCE CREDIT: https://medium.com/@bitcoinwalletcanada/wonder ing-how-to-buy-stellar-lumens-in-canada-heres-a-co mparison-between-stellar-and-ripple-755cffa8fd0a
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