How to exchange Stellar in USA

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How to exchange Stellar in USA

For a long time now, withdrawing funds from a debit card has ceased to be a problem. You just come to the bank or ATM and withdraw the amount you need. But what about the cryptocurrency, which is gaining popularity from year to year? There are many bitcoin wallets that make it possible to store digital coins in safety, and in order to withdraw them into fiat money, you need to find a good cryptocurrency exchanger.

Stellar Lumen is a fork of Ripple that split from the main system shortly after Ripple’s source code became available. Many users accuse Ripple of being centralized, as a result of which several founders are able to have unlimited control over the entire money supply, including the funds of other users. Stellar was created as a “decentralized Ripple”, retaining all the advantages of the parent cryptocurrency, but completely decentralized.

Stellar allows you to make currency exchange operations according to the following principle: a transaction is sent to the global network, where a change must be made in the ledger to confirm it. The servers make changes to the ledger, offering options for transactions. Every few seconds there is a consensus, changes are accepted and recorded in the book.

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Consensus is achieved using the Byzantine Treaty (FBA) pattern, which defines the reliability of a system using quorum slices. Each slice determines the degree of trust in other slices, and the creation of connections is based on this principle.

Online cryptocurrency exchangers

A cryptocurrency exchanger is a site where you can exchange stellar lumens, BTC, ETH, Dash, Litecoin and other digital coins for fiat  money in real time. Using this service, you perform an operation with by the exchanger itself. You can exchange:

  • using the cryptocurrency exchange;
  • using a cryptocurrency exchange site;
  • directly transfer funds from one wallet to anotheк.

Third method is the most unreliable of the ones presented, since there is a great chance of falling into the hands of scammers.

Exchangers can work in 3 modes:

  • Automatic: you form a template for the operation, then the system, without the participation of the operator, independently reproduces the instant exchange.
  • Semi-automatic: the operation takes place within 10-15 minutes. In addition to the operation template, you need to pay for the transaction and wait for the operator to check the payment. Then the system does everything automatically.
  • Manual: each time you enter the data again and pay for the transaction, the operator checks everything, and then transfers the funds to you. Operations can last a day.
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In addition to the course and commission, there is an additional set of criteria, according to which it will be easier for you to navigate on different sites in search of the same one. Among those we have identified:

  •  efficiency of the exchange service;
  •  reliability level;
  •  list of wallets that the service works with;
  •  minimum and maximum withdrawal amount;
  •  reserves;
  •  the reputation used by the exchanger on the network;
  •  registration: required or not.

American exchangers are mostly focused on their audience, operating banks and so on.