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StellarX Launches | Brand New Zero-Fee Decentralized Crypto Exchange

Today, StellarX launches! StellarX is the Stellar network-based zero-fee decentralized cryptocurrency exchange. The company behind the platform, Interstellar, announced the upcoming launch via a Medium blog post on September 28th. XLM has yet to be positively affected by the news.

StellarX Launches!

Previously, StellarX was open only to a number of individuals who signed up for its Beta testing, but it seems the team at Interstellar feels confident in their product thus far—confident enough to launch publically!

What makes the platform stand out from the rest is that it’s a totally free trading platform. A few “free” exchanges that have popped up as of late, but in actuality have been shown to have deceiving charges—making it not so “free” after all. For example, Robinhood was shown to profit from its customers’ idle funds.

I’m sure you’re all wondering, “Well, what’s the catch with StellarX?” I thought the same thing, but Stellar claims it isn’t here for a cut, and they hope to “redefine how assets move around the world.”

Christian, an employee of Interstellar and the writer of the blog post, explained:

“We take no fees and, even above that, we refund all network costs, something no other decentralized exchange can match. All the while, you have sole control over your assets, so whenever there’s interest, it’s yours. We’ve even written our own fee out of our agreements with deposit partners, who, we’ve found, often put in a percentage by default.”

How do they do this? It’s all in the way they designed their platform. By using Stellar and its consensus mechanism, StellarX requires neither ‘work’ nor ‘stake’ and they don’t need your capital to function.

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StellarX Launches: Assets Galore

StellarX has started by implementing the top cryptocurrencies onto its platform first but claims it plans one diving into a number of the top assets displayed on CoinMarketCap soon.

At its launch, StellarX also has a real fiat onramp, which is a first for a decentralized platform. All you need is a US bank account, and you can deposit USD directly into the app, via ACH.

The group at Interstellar will be adding a number of things to its app in the near future. You can take a look at those things here.

XLM Price Movement

According to CoinMarketCap, XLM is currently trading at $0.239 a coin, down -5.05% in 24 hours. For the week, XLM is down -4.4%.

Featured Image: Depositphotos/© klss777

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Litecoin (LTC) and Stellar (XLM) Drop

The cryptocurrency market is currently trading just over $250 billion and is continuing its drop from yesterday. Late Saturday the market surged nearly $15 billion in just an hour, reaching almost $280 billion but has since lost all of its momentum. Let’s check in with Litecoin (LTC) and Stellar (XLM).

Litecoin (LTC)

Two hours ago, Litecoin’s founder, Charlie Lee, tweeted about the latest partnership his company has just finalized.

Token pay acquired 9.9% of WEG Bank. The TokenPAy announcement reads:

“With the prominent addition of Litecoin as a strategic marketing, blockchain technology, and logistics partner in WEG Bank and its long-standing partnership with Verge Currency, TokenPay conservatively anticipates adding several hundred thousand customers to its debit card solutions platform in the near term. Accordingly, the technical expertise provided by Litecoin will be a tremendous benefit to the establishment of comprehensive automation guidelines and standards employed by the bank as it explores new market opportunities.”

In addition to the partnership news, just ten days ago Litecoin Core v.0.16.0 was released. This new upgrade shows major progress of the Litecoin network.

Also, if you’re an investor in the Bay area, there will be a Litecoin summit in mid-September you can attend. Click the link to register!

At press time, Litecoin (LTC) is trading at $76.63 a coin, down -6.77%.

Stellar (XLM)

Five days ago, the Stellar Foundation announced StellarX.

This is the biggest announcement the project has had in months and will be a universal marketplace to trade cryptocurrencies. The trades happen on-chain, and all network fees are refunded.

StellarX will be open to the public this summer, and the team behind the project is currently taking emails down for first-time users wanting to be added to the platform when it’s ready.

The website claims that you will be able to trade for every asset class imaginable, but it remains unknown how much they will charge for each project to get their tokens listed. Many exchanges when first introduced only have a few coins to trade.

Stellar X is said to also have fiat, bonds, and commodities trading on the platform. It will be interesting to see what they have on the platform when it is first released. StellarX will be run on the Stellar ecosystem.

At press time, Stellar (XLM) is trading at $0.195 a coin, down –7.66%, in 24 hours.

>> Victims of the Latest MyEtherWallet Hack: Hola VPN Users

Featured Image: cryptotraders.eu

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