HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.
Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.
Why You Should Hodl Stellar (XLM)
The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.
XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.
Nevertheless, sending money, especially when it comes to cross-border transactions, is in dire need of change, and both of these projects aim to be the ones that will revolutionize the process.
Another thing that makes Stellar a very valuable project is its speed — the coin is currently the fastest one on the market. In other words, it is not only a capable payment platform that can send money overseas, but it can also do it within around three seconds.
A huge partnership
Due to its huge potential, Stellar also attracted the attention of a very influential partner — the IBM itself. Partnering up with this company was a massive step forward for Stellar, which basically ensured its substantial presence in the international payment market. Also, it increased its chances to be among the first coins to experience mass adoption, although this will likely have to wait for quite some time until the majority of world’s countries develop proper regulations for handling crypto.
Still, Stellar’s partnership with IBM has also brought it closer to the Australian government, which means that there is a high probability of XLM being adopted in Australia at some point.
Finally, partnering up with the tech giant provided Stellar with a certain level of credibility, which will likely encourage other firms to approach it and propose a partnership.
How does this reflect on XLM price?
So, why is all of this important? Because cryptocurrencies depend on their usefulness and reputation, which directly influence the value of the coins. Clearly, 2018 was a bearish year that has damaged the value of numerous cryptocurrencies. Even Bitcoin itself has lost over 80% of its value in the previous 11 months.
With a situation like that, Stellar had no choice in the matter, and the coin ended up experiencing significant losses, just like the rest of the market. However, giants like the IBM are not known for partnering up and investing in projects with no future. The fact that Stellar is their go-to coin is almost a guarantee that the coin will remain. With that in mind, rather than abandoning the coin due to its low price right now, investors are advised to HODL and endure the pressure of a bear market.
Right now, cryptocurrencies are going through a storm, but the storm will eventually end. According to experts, not every coin will survive this process. However, those that do will prosper, and this might even happen very soon. Many believe that 2019 will be the year when cryptos will go big, when institutions will start investing, and when the golden age of digital currencies will start.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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The face of the retail industry is always changing.
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It’s convenient, secure, and is effective at connecting merchants with interested shoppers from across the world.
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BlocPal offers business owners an easier way to process payments
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