What Is Stellar?

Stellar Lumens, or XLM, is a cryptocurrency that processes peer-to-peer cross-border transfers. It uses an open-source, decentralized blockchain protocol. To clarify, Stellar is a system for currency exchange, while Lumens are built-in tokens created for this system to function. A feature of this network is that there is a fixed amount of Lumens, meaning they are not mined. No banks are involved in Stellar Lumen transactions.

The service emerged in 2015. By the end of the first year, it had already acquired almost 3 million users. In 2019, the number of circulating Lumens was reduced to 50 billion, leading to a price increase, which soon stabilized.

Using XLM at Online Casinos

We remind you that cryptocurrency is very volatile, so remember that while you may lose money while gambling, you may also lose it because of changes in market value.

Here is a quick guide on withdrawing your winnings from casinos using Stellar:

1. Log into your online casino account and visit the banking page.
2. Choose withdrawals, then pick Stellar.
3. Copy your Stellar wallet address to the form and indicate the desired withdrawal sum.
4. Confirm the transaction and wait for the money to reach your Stellar wallet.

As to the withdrawal times, such transactions are processed quicker when you use cryptocurrencies than other withdrawal methods. However, your withdrawal request must be processed by the casino first. It may take up to several business days, depending on the casino. Once the operator has approved your request, your winnings will reach your Stellar account instantly. Transaction fees are set by the service at 0.00001 XLM per transaction. The best gambling sites do not charge additional fees for withdrawing with Stellar.

Pros and Cons of Stellar

Pros:

• Anonymity
• Fast transactions
• Low transaction fees
• Secure payments

Cons:

• Few Stellar casinos are available
• Some Stellar casinos may be blocked in many regions