The good news keeps aggregating for Stellar Lumens and XLM, it’s native token. This week’s adoption is by Coindelta.
Coindelta is a cryptocurrency exchange based in India that offers high usability and the chance to trade in digital assets using the INR, India’s fiat currency, popularly known as Rupee. It supports QTUM, NEO, XRP, Litecoin, EOS, Ethereum, Bitcoin, and starting this Monday (a couple of days ago), Stellar Lumens’ XLM.
It also offers secure wallets for customers to store their tokens and a purportedly lowest withdrawal fee. It includes a section for pro traders that facilitates the exchange of high volumes in minimal times. The exchange promotes itself as “The easiest way to buy, sell and store cryptocurrencies”. The Coindelta platform includes a mobile app (Android and iOS) that allows users to manage their coins from a mobile phone.
Signing up for CoinDelta isn’t that different from most other exchanges. You create an account, verify your identity, make a deposit (in Rupees) and you start trading. One of the advantages in this exchange is that all the currencies it offers can be traded in fiat currency, which obviates the need to buy bitcoins first, as is the case in many of the world’s most important platforms such as Binance.
This Monday, November 26th, the CoinDelta team announced to its community it’s a “delight” for them to list Stellar Lumens XLM. Deposits and withdrawals went online that same day, and trading started at 6:00 pm, Indian Standard Time. The announcement reminded prospective XLM traders the rules of the game:
- The withdrawal fee for XLM will be 0.01.
- Minimum deposit for XLM is 1.
- The number of blockchain confirmations required is 1.
- Recovery Fee for XLM is 0.2.
The announcement went on by briefly explaining Stellar’s main features and provided a link to the Stellar Development Foundation website for those who wanted to dig deeper about the new option.
The exchange also announced the new coin through a tweet in its official Twitter account which reads:
** New Listing on Coindelta **
Knock knock! Announcing the listing of Stellar (XLM) on Coindelta.
Deposits and Withdrawals are live now and the trading will start at 06:00 PM IST, 26/11/18. 😉
— Coindelta (@coindelta_) November 26, 2018
The new listing is further progress for Stellar Lumens, especially since XRP, its main rival, was already listed in this particular exchange. New listings create interest on the listed projects. More importantly, they increase trading volumes and demand for tokens that ultimately translates into higher value and price.
Also, this shows that Stellar Lumens is looking to make headway into Asia, which has not been an obvious thing. The project has been securing strategic partnerships all year long, but they’ve been mainly with companies and exchanges from the U.S. and Europe.
This is very relevant because many of the most active markets in crypto are in Asia. Not exactly in India, but in China, South Korea, and Japan. But Rome wasn’t built in a day, and Stellar is doing all the right moves to ensure its coin is available all over the planet and it has a presence of some kind in every important market in the world.
As we write this, the Stellar Lumens XLM token is priced at $0.1593 and trading in green numbers (up by 14.32% in the last 24 hours). It’s capitalized at just above 3 billion dollars (fifth place in the rankings) and it’s been threatening to take away Bitcoin Cash’s fourth place. Stellar is only about 300 million dollars away from the feat.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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.
Image Courtesy of Pixabay.
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