What is Stratis and how to exchange STRAX at the best rates
Stratis

Stratis

 STRAX

Stratis is a blockchain network that is built to enable enterprise developers to create personalized blockchain solutions. When talking about the Stratis blockchain and its token, you may have heard of the STRAT and the STRAX crypto tokens. Don’t get confused, we will elaborate on the Stratis token as we progress in the Stratis crypto review. Let’s dive and learn what is Stratis, why did STRAT token swap happen and how to buy Stratis with BTC on Swapzone Stratis exchange aggregator.

Stratis Exchange Rate

STRAX by TradingView

What is Stratis?

Stratis is a blockchain designed for individual enterprises to build decentralized apps easily on specific private blockchain networks. The Stratis network has an API framework that allows businesses to hasten the creation of their blockchain network and make the process of developing the blockchain simple and easy.

Even though the main target of the Stratis protocol is financial institutions, any enterprise that has an interest in integrating blockchain solutions can take advantage of the protocol. An example is the partnership of the Stratis network with the Seafood Company called Earth Twine.

Normally, for users that want to build decentralized applications (dApps) or blockchain, you have to create the app from scratch, create a hard fork of a blockchain or get a developer to do it. This is usually a costly and time-consuming process. At the same time, dApps are data-intensive and need huge storage space to operate full network nodes. These are the hurdles that users face in the quest to develop blockchain solutions.

Meanwhile, Stratis protocol offers a solution to these hurdles through tools that help to build dApps and blockchain networks in a programming language that most developers are comfortable and familiar with – the C#. Also, the Stratis platform offers Blockchain-as-a-Service solutions that allow users to host and deploy their created dApps and sidechains without consuming a substantial amount of their computer’s data. It is also possible to use the Stratis API framework and Microsoft .NET framework for app and blockchain development.

Does the Stratis platform have its cryptocurrency?

Yes, the Stratis protocol has its cryptocurrency and that is the Stratis token (STRAX). The STRAX crypto replaces the old native token called STRAT coin. The Stratis coin (STRAT) conducted an ICO in June 2016, which ended in July 2016. The ICO brought in almost 1000 BTC making it one of the first successful ICOs in cryptocurrency history. Stratis eventually developed its own ICO platform in May 2018 for crypto companies looking to launch their own ICO. The new STRAX coin has a circulating supply of more than 134 million Stratis coins.

Why was STRAT renamed as STRAX?

Stratis blockchain was launched in August 2016 after it was announced back in June. The initial native token of the platform was the STRAT token, however, in November 2020, the Stratis platform announced the deployment of a new blockchain built from scratch on the .NET core framework. The move from STRAT to STRAX crypto token was necessary to allow flexibility and development without barriers that hinder developments on the old Stratis STRAT blockchain.

The launch of the STRAX blockchain created a newly updated roadmap, which includes plans for IoT SDK, the launch of Decentralized Autonomous Organization (DAO), decentralized finance software library, interoperability with the Ethereum chain, etc.

The STRAX crypto token swap took place in October-November 2020 where old STRAT coins were swapped for the new STRAX token as a ratio of 1:1. As part of the Stratis exchange of tokens, 25 million STRAX were minted. Out of the newly minted STRAX token, 8.125 million were earmarked for the Stratis Foundation, 5 million for Stratis DAO, 6.375 million for network incentivization, and 5.5 million for enterprise incentivization. These STRAX tokens will be distributed over a five-year period.

The PoS mining process is used for the new STRAX cryptocurrency and every block has a reward of 18 STRAX with a yearly inflation rate of about 10%. The block reward is shared into two, with one half going to the block producer and the other one shared between its Cirrus sidechain and block-producing masternodes.

How to buy Stratis with other cryptocurrencies?

There are plenty of options when it comes to getting some STRAX to your portfolio. All you need to do is find the site where STRAX is paired with a variety of cryptocurrencies existing in the market now. Then you can buy STRAX using any of the cryptocurrencies. You can also move over to Swapzone to have it easy where all the available pairing for STRAX is shown to you and you can choose which crypto you want to use to buy the STRAX token.

As an example, you can exchange LTC to STRAX, ADA to STRAX, SOL to STRAX, and far more options. Just pick your favorite!

Popular pairs to convert Stratis

Frequently asked questions

What is the Stratis exchange rate?

arrow

An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

arrow

Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

arrow

Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store Stratis?

arrow

To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

arrow

There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

arrow

Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

Recent articles

Browse all

Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.