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What is Stellar Lumens?
Stellar is a decentralized open source platform, connecting banks, payment systems and people, whose purpose is to facilitate cross-border transactions and make them faster, cheaper and safer.
Originally based on the Ripple Lab protocol, it is now built on a semi-decentralized consensus platform and is designed to support any type of currency such as the US dollar, RMB or yen.
Stellar Network can support more than 1000 transactions per second and can confirm transactions in 3-5 seconds, with a transaction cost of less than $0,00001. This makes the network ideal for mass adoption by users and a very useful tool for cross-border transactions.
What are Lumens?
The native currency of the platform is Stellar Lumens ($XLM).
As explained on the official website of Stellar, Lumens perform two important functions:
- facilitate transactions in multiple currencies;
- deter bad actors and potential Dos attacks to the network.
To do this, it was decided to add a nominal fee of 0.00001 lumens per transaction.
How to mine Stellar?
Stellar uses Stellar Consensum Protocol (SCP) instead of the Proof of Work (PoW) and, unlike most cryptocurrencies such as bitcoin, Stellar Lumens (XLM) cannot be mined.
In fact, 100% of XLM tokens were issued entirely at the time of their creation.
When the Stellar Network came into operation, 100 billion lumens were created and, in the first five years, the supply of lumens also increased by 1% per year.
This amount of Lumens was distributed as follows:
- 50% was given to users who subscribed by invitation received by members or participating in a Meetup organized by the Stellar Foundation.
- 25% was donated to partners and distributed to companies, governments, institutions and Ngos that contributed to the growth and adoption of Stellar
- 20% was given to Bitcoin and Ripple holders. The Lumens were divided into two draws: one in October 2016 and the other in August 2017. During these events 19% were distributed to Bitcoin users and 1% to Ripple users.
- 5% was reserved for the operational expenses of the Stellar Foundation.
Now there are around 50 billion lumens in total, and almost 20 billion XML tokens are on the open market and no more lumens will be created. The Stellar Development Foundation has decided to withhold the remaining 30 billion to develop and promote Stellar.
How to get Lumens?
So if I can’t mine Stellar Lumens, how do I get XLM?
Fortunately there are many platforms that allow anyone to get free Lumens tokens.
Di seguito, ti mostriamo i modi più facili per ottenere Stellar Lumens.
1. Faucets di Stellar Lumens (XML)
A crypto faucet is probably one of the easiest ways to get XML tokens for free. These are web pages or apps that give away cryptocurrency tokens when the user realize small tasks (like watching ads, watching a video, playing a video game etc.). Its aim is fundamentally educational.
Among the most popular Faucets we find:
2. Stellar Lumens (XML) Airdrops
The word Airdrop means ‘parachuting’ and refers to the launch and free distribution of small quantities of a cryptocurrency by a business, organization or individual to those users who meet certain conditions.
For this, there are many companies in the crypto ecosystem that distribute free XML tokens to users in order to increase the visibility of their project, increase the circulating offer and stimulate the buying and selling of this cryptocurrency.
Most Airdrops are based on rewards as they reward the user with Lumens tokens for completing activities on social media. Other launches are rewarded only for supporting the project.
The most popular Airdrops to win XML son:
Airdrops.io: These Airdrop are only distributed to followers of the Twitter page @airdrops_io and members of the Telegram channel @airdrops_io.
It’s a platform that lets you win XML for free just by running one of these tasks:
- Completing surveys
- Playing games
- Referring friends
- Watching videos
If you want to know the new Stellar Airdrop, I suggest you follow the platform AirdropAlert.com, that informs you about reliable airdrops campaigns to win XML.
As with faucets, participating in Airdrop will certainly not make you rich, as small amounts of Lumens are usually distributed, but it is an easy, fast and fun way to get XML.
3. Stellar Lumens (XML) Games
Another very interesting option are mobile and online games, through which you can win some XML tokens. Entre los más populares encontramos:
How to buy Stellar Lumens (XLM)
As you have seen, there are many ways to get free Stellar tokens, but in all cases mentioned, you can win only small amounts of XML.
So, if you need to get more XML tokens in an easy, fast and above all secure way, I recommend you to do it on a platform like Bitnovo.
What are you waiting for? Make your first ‘stellar’ purchase now!