AnchorUSD is a stablecoin that is launched on Stellar blockchain. Because USDX can always be created for $1 or redeemed for $1, investors can trade with confidence and avoid the volatility of unbacked cryptocurrencies. The team claims they undergo regular audits to ensure that the number of USDX in circulation is exactly equal to the number of dollars in our bank account.

They recently announced a new feature on their platform:

“We have an exciting update to share regarding your AnchorUSD account.

You are now able to lock in your price instantly for Stellar Lumens (XLM) purchases using AnchorUSD.

How it works: you link your bank account as normal. However, instead of purchasing AnchorUSD directly, you choose “Buy XLM”.

This lets you immediately lock in your XLM price. Lumens will be available for further trading, or sending to a blockchain address, once your bank transfer clears (2-3 business days).

Additionally, we’re pleased to introduce lower minimums and a new fee structure for this feature. The minimum purchase amount is $50, and fee is a flat 1% fee with a $5 minimum.”

So this is in essence an instant buy of XLM for USD – just like Coinbase, even faster.

Even though XLM holders are happy about this and want it integrated on StellarX as soon as possible, they still point out a very high processing fee of 1% on every buy. This is a change to the usual fixed $25 fee they charged before.

StellarX is a “fake” DEX. The exchange is just an interface that enables users to interact with Stellar marketplace. Via Stellar integration with Changelly, you can also buy coins with fiat on the platform.

All the assets that can be traded on StellarX, except XLM coins, are actually tethered assets traded via 3rd party providers that guarantee to give you actual coins if you choose to withdraw them. The withdrawal takes place, however, on the websites of the providers, not on StellarX.

StellarX plans to incorporate AnchorUSD on their platform which will increase XLM accessibility to fiat and make it a lot easier to quickly buy XLM.

Bear market spares no one and it wasn’t kind to XLM either. Stellar is drowning in sea of red, just like the rest of 2000+ crypto coins on the market. However, there are possible triggers in the near future that could change the trend for XLM.

Stellar’s off-chain payment channels, a parallel of Bitcoin’s Lightning Network are a big update that is about to hit the network. As per this timeline, Stellar plans implement its own lightning network by December 1st.

If they pull this off as planned, December could be a good month for stellar.  The lightning network allows transactions to happen off-chain, fast and at huge scale. With the lightning network, Stellar would be capable to handle millions of transactions at speeds that dwarf any centralized system available today.

The post Once StellarX incorporates AnchorUSD, Stellar (XLM) won’t need Coinbase listing at all appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

154 +