How to convert Bitcoin (BTC) to Stellar Lumens (XLM)?

With so many cryptocurrencies available, we often find ourselves looking for the best platforms or exchanges that assess and ease out the conversion process. These exchanges are primarily between a comparable steady currency and a volatile currency to make larger profit margins. The difference in the exchange rate is the key to increasing profit margins.

Otherwise, some businesses require you to pay in particular currencies, and for them also you have to look for easy ways and platforms for exchange. These days, one of the hot topics is how to convert XLM to BTC or exchange BTC to XLM. For people looking for the best exchange for Stellar Lumens, there can be many options, but choosing the right would require some in-depth and detailed research.

What is Stellar Lumens (XLM) Cryptocurrency?

For anyone asking about "what is Stellar Lumens cryptocurrency", the terms Stellar, XLM crypto, Stellar Lumens, refer to the same entity which was developed by the Stellar Development Foundation. The currency is referred to as the Lumen, and XLM is the ticker under which it is traded. The currency is readily available for buying or exchange on almost all renowned exchange platforms.

Stellar Development Foundation is a non-profit foundation that came into being because of the initial funding of large international groups such as Google, BlackRock, and FastForward. The cross-border payments were made possible when Stellar signed a deal with TransferTo that enabled its user to transfer payments between 70 countries. It is also the first blockchain-based protocol that obtained a shariah-compliance certificate for payments and asset tokenization. It also serves as a partner of IBM in the double pegged stablecoin project.

What are Stellar Lumens (XLM) used for?

Stellar Lumens primarily focus on developing economies in areas of remittances and reaching those who cannot avail of banking services. One noteworthy benefit of the Stellar XLM Lumens' network is that it is free of cost and does not ask its users for any service fee or charges for using it. Stellar XLM crypto uses a distributed and vast exchange network that allows its user to send payments in various currencies, even though their credit might be in any other currency. The mechanism behind this whole process is the proficiency of Stellar's network that inter-converts the targeted currencies.

Stellar is a network that provides traders with a platform to connect with each other. This includes other banks and payment systems. It is a blockchain-based ledger that aims to bring traders together to facilitate low-cost, cross-asset transfers of value, including payments. It is one of those decentralized protocols that let you transfer cryptocurrency to fiat currency locally or across the borders, keeping costs as low as possible. It works on the mechanism of open-source code.

The primary purpose of the Stellar Lumens Cryptocurrency traded under the symbol XLM was to create, send and trade digital representations of all forms of money, including digital currency and fiat currency. But then the manufacturers thought to introduce their own token so that it has its prominent existence in the ever-growing marketplace.

Stellar Lumens vs. Bitcoin

The basic operative mechanism of Stellar is similar to many other decentralized cryptocurrencies. The basic difference between it and other decentralized technologies is that it offers a distributed ledger that is refreshed every 2 to 5 seconds among all servers.

However, the most prominent feature that distinguishes it from bitcoin and altcoin is its consensus protocol. The stellar consensus protocol uses the Federated Byzantine Agreement (FBA) algorithm, which is aimed at providing faster processing of transactions. In contrast, bitcoin relies on miner networks to approve transactions that take a longer time to process.

The Stellar Consensus Protocol (SCP) uses slices of a network to validate a transaction, so it is quicker and more reliable. The servers in the Stellar network referred to as the nodes rely further on trustworthy nodes. It further enhances the scrutiny of the transactions. A transaction is only approved once it satisfies all sets of nodes. This quick network processing has made Stellar extremely extravagant which is why it can now process 1000 network operations per second.

How to convert BTC to XLM?

  1. Go to Swapzone to get your work started.
  2. Select the cryptocurrency that you would like to exchange, a coin or a token.
  3. Specify the total amount you are going to transfer.
  4. Select XLM in the Get Up To section.
  5. Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the exchange.
  6. Confirm the offer you wish to utilize and then enter the wallet to receive the XLM currency.
  7. List the address that will take the currency you are exchanging.
  8. Confirm the trade to complete the transaction.

Why Swapzone is the best place to trade XLM to BTC?

Swapzone is a cryptocurrency exchange that provides multiple operations on a single platform. It allows you to browse through the available services, compare the real-time exchange rates of various currencies all on a single platform. To everybody who is in search of a reliable and transparent crypto platform, Swapzone ticks all the boxes to be the best exchange for Stellar Lumens, and other such currencies.

Swapzone is a highly credible platform to exchange BTC to XLM or exchange XLM to BTC because it provides a progressive, transparent and accessible swap service. It ensures convenience and validity by working with different sources. The exchange process is simplified for the users, and all the information is provided on a single platform.

Swapzone provides you more than ten service providers and a choice of more than 400 assets. All the assets are custody-free and do not require any registration. It also provides you with all the required information about service providers. It also lets you know the calculated exchange rate time and directly provides you with the exchange rates from the service providers. All of this contributes to increased feasibility and usability for the users.