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Stellar Payment Network: Changing the Global Payment Industry? 



Stellar Payment Network

Stellar Payment Network: Changing the Global Payment Industry? 


The stellar payment network is an open-source, interoperable payment system that allows users to receive and send forms of money. The stellar system is designed to make the world’s financial systems work together on a single network. Stellar is a decentralized system that runs on open networks with millions of transactions processed every day.

Stellar Payment Network

Also Read: The Bitcoin Lightning Network

You can also see the stellar payment network as a decentralized payment protocol that permits cross-border transactions. You can create a redeemable, tradable representation of any asset on the stellar blockchain. These tradable representations are called tokens, and they are more useful when tied to currencies.

What is Stellar Payment Network?

The Stellar network was launched in 2015, and since then has processed at least 450 million operations. Different companies and businesses have adopted Stellar to move money across new markets. The Stellar system seeks to enhance the existing financial system rather than undermine or replace it.

Unlike the Bitcoin network designed for trading only bitcoins, the Stellar network allows the trading of any kind of asset transparently and efficiently. Stellar’s native token, called the Lumen, is required in small amounts to initialize accounts and make transactions. Lumen powers the Stellar network and all of its operations in the same way ETH powers the Ethereum network.

All transactions that take place on the Stellar network gets added to a shared, distributed, public ledger. The database is accessible to anyone, anywhere worldwide. To reach consensus on transactions efficiently, Stellar employs its unique consensus method.

The Stellar consensus method allows users to perform fast and cheap transactions. Everyone on the Stellar payment network can reach an agreement about a transaction’s validity within a few seconds. Every node (or a participant) that adds Stellar transactions to the global ledger will choose its own personal mini-network. The mini-network comprises of other trusted participants that it agrees with. Provided these mini-networks (known as quorum slices) overlap, the overall Stellar payment network can reach consensus in a slit second.

Also related: What is Ethereum 2.0?

Things You can do on the Stellar Payment Network.

  1. You can issue your own assets.

As a user on the Stellar network, you can create a redeemable and tradable representation of any asset. This kind of representation is known as a token, and the tokens are most useful when tied to currencies. Stellar provides a generalized toolkit for you to do the same thing Tether did for the Dollar using their USDT. With the Stellar network, you can digitize value, issue, and redeem claims on it.

Any user can see, hold, and trade Stellar tokens; however, they are highly configurable. Meanwhile, if you have any specific compliance needs, you can:

  • Require that the people who are holding your token pass your KYC program.
  • Control access to your tokens by using multi-signature accounts.
  • Create time-locked escrows any account or asset on the network.

Tokenization is a fundamental part of the Stellar payment network. One of the most powerful features of the Stellar network is the ability to issue and redeem assets.

  1. Peer-to-peer Trading of tokens

You can exchange every token on Stellar with any other token on the network. The Stellar protocol connects the buyers and sellers on the network. No intermediary or go-between arranges transactions since a decentralized exchange is built into the Stellar ledger system. Aside from tracking balances as Bitcoin and Ethereum do, Stellar also tracks and settles trades between balances in a decentralized manner.

  1. You can transform currency as you send it. 

Just like every payment system, the Stellar network allows you to send or receive any currency from another. You can send dollar tokens, Stellar lumens, or whichever currency you want. The peculiar thing about this network is that it allows you to send one currency, and the recipient receives another.

For example, a British company can pay an invoice in Nigeria by sending pound tokens, while the vendor receives Naira tokens. One fascinating thing about this transaction is that neither side incurs exchange risks or delays.

Some Real-World Applications of Stellar Payment Network

Vumi, the open-source messaging platform of the Praekelt Foundation, uses cell phone talk time as currency using the Stellar protocol. In April 2015, Stellar entered into a partnership with Oradian, a cloud-based banking software company. The partnership was to integrate Stellar into Oradian’s banking platform to add microfinance institutions (MFIs) in Nigeria.

Read: Proof-of-work vs proof-of-stake: the best for scaling blockchains

In 2016, Deloitte partnered with Stellar to build a cross-border payment application known as the Deloitte Digital Bank. Stellar also partnered with IBM AND KlickEx to facilitate cross-border transactions in the South Pacific region.


The Stellar payment network is useful and valuable since it can host thousands of exchanges between currencies and tokens per second. It makes the exchange of cryptocurrencies and fiat fast and cheap for users. With the high cost of cross-border transactions, the Stellar network sure has something great to offer in the global finance industry.




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What is Cryptocurrency And How Does It Work? 



Obiex finance website

Cryptocurrencies are decentralized digital assets that operate on blockchain technology that in turn operates by storing a ledger of every transaction on all nodes powering the blockchain. 

In layman’s terms, blockchain technology is like a record keeper, it collects data (in blocks) and links one block of data to another, forming a chain. The data on the blockchain is open for all to see and cannot be easily altered. Blockchain technology can be used for a variety of use cases besides cryptocurrency, ranging from voting to crowdfunding, keeping health records, etc.

Using Bitcoin as an example, nodes are computers connected to the network to mine Bitcoin,  – this collection of independent nodes working together is what makes the network decentralized.

The decentralized nature of cryptocurrency is down to the creators recognizing flaws in traditional banking & financial systems like governments and financial institutions acting only in their best interests and not in the best interest of the common man, leading Satoshi Nakamoto (the creator of bitcoin and blockchain technology) to take steps to rectify that.

Related: What are NFTs?

To make cryptocurrency transactions, you will need to have a set of both public and private keys that will act as passwords protecting your crypto wallet. 

The Public key is connected to your wallet address, allowing you to share the address with others to receive cryptocurrency, while the private key is known to only you and is what you will use to approve outgoing crypto transactions from your wallet. 

Trading Cryptocurrency on Obiex

Obiex finance website

With the popularity of cryptocurrency trading currently at an all-time high, the biggest challenge for many rookie traders is selecting which cryptocurrency exchange to trade on.

If you fall in this category, the immediate priority should be finding an exchange that allows rookie traders to make trades easily, doesn’t charge extra fees and is completely secure. That exchange is Obiex Finance.

In this guide, you will be shown how to navigate the Obiex mobile app & website easily and what to do to get started with making cryptocurrency trades. 

Getting started with Obiex Finance 

Obiex Finance is a digital asset exchange and financial technology (Fintech) platform that gives its users the ability to easily execute cryptocurrency trades from anywhere regardless of their skill level.

Their commitment to ensuring that users get the best experience is shown in how they allow instant swaps from volatile coins like Bitcoin to stable coins like USDT, and vice versa, without confirmations. In a market where the value of crypto can fluctuate wildly, this feature is especially valuable as it allows users to seamlessly switch between making profits to saving those profits in a more stable currency before the value drops.  

To create an Obiex Finance account, simply head over to their homepage, click on “sign up”, fill in the required fields and verify your email address. After that, create wallet addresses for your crypto assets and you’re ready to start trading!

The cryptocurrency available for trading on the Obiex Finance platform are: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Polygon (MATIC), Dogecoin (DOGE), Tether (USDT), Binance USD (BUSD), and USD Coin (USDC).

Getting Started with Cryptocurrency trading

After creating your Obiex account, you need to follow these simple steps:

  1.     Have a Trading Strategy: Trading cryptocurrency without having a strategy in place is the easiest way to lose your money. You will need to research the various crypto trading strategies thoroughly and choose the one that best suits your needs and temperament. For example, if you’re a patient person who is content to make smaller, safer trades over a long period of time instead of making riskier trades, then scalp trading is the best trading strategy for you. There are also other crypto trading strategies such as Swing trading, position trading, Arbitrage, dollar cost averaging etc.
  2.     Pick the cryptocurrency you’d like to trade: There are several cryptocurrencies available on Obiex Finance such as Bitcoin, Ethereum, Binance Coin, Tether etc. Selecting which cryptocurrency to trade is usually down to making a choice; whether to stick with the safer, more established cryptocurrencies like Bitcoin or to go with the more volatile coins that have a high upside and an equally high-risk factor like the Dogecoin which can move in either direction based on what Elon Musk tweets.

It is also important to note that when you pick a cryptocurrency to trade, it would be wise to ensure that the cryptocurrency matches the strategy you pick. For example, if your preferred strategy is patient scalp trading, then investing in volatile coins that have a high upside but carry a lot of risk is not the wisest move. 

To swap crypto on Obiex Finance, add the wallet of crypto assets you’d like to swap, send the crypto to the wallet you just created, navigate to the ‘swap’ option on your dashboard, and select the coins you’d like to swap. You will receive the swapped coin in your wallet balance immediately without waiting for network confirmations.

  1.     Securely store your cryptocurrency: The same way you’d protect your goods and profits if you had a physical store is the same way you need to protect your cryptocurrency so it doesn’t fall into the wrong hands.

You can store your crypto securely on your Obiex wallet but if you want an alternative, physical wallets are also an option. Physical wallets allow you to store your crypto in secure hardware, offline storage device reducing the likelihood of online hackers stealing your hard-earned crypto. This is a list of reliable physical wallets you can use.


If you’re a newbie to crypto trading, the keyword is patience. Taking the time to properly understand the market before making trades will stand you in good stead. While risks occasionally pay off, a patient, long-term strategy is required to make consistent profits. For more information about trading as a newbie, you can check this out to understand unfamiliar crypto terms and to learn more about spot trading and futures.

Obiex Frequently Asked Questions | Obiex FAQs

  • Will I be charged a fee when I swap coins on Obiex? 

No you won’t. While other crypto exchanges charge for trades and require confirmations to execute swaps, Obiex allows you to make free, instantaneous swaps without the delay that comes with waiting for confirmation. This also helps you avoid unnecessary losses.

  • Can I trade crypto on Obiex if I don’t know much about crypto? 

Yes, you can! The Obiex Finance platform allows both rookie and experienced traders to make easy, safe trades regardless of trading experience.

  • Can I send and receive crypto easily?  

Yes, you can. To send crypto, you will use your private key to execute outgoing trades and your public key/your wallet address to receive incoming trades. You can also send and receive crypto using just Obiex usernames.

  • Why do I need to swap coins? 

Swapping coins allows you to either acquire a coin you think is (currently) more valuable than a coin you have a lot of. You can also use swaps to ensure that your funds are invested in a more secure coin like USDT if you feel the volatile coin you’re holding is about to go on a bear run and lose value.

  • Do I get a referral bonus when I invite friends to use Obiex? 

Yes, Obiex has a referral campaign that rewards users that invite their friends and family to trade the minimum of $10 on Obiex.




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Non-Fungible Tokens (NFTs): What Are They And How Do They Work?



Non-Fungible Tokens (NFTs)



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Is Bitcoin The New Institutional-Grade Safe-Haven Asset?



safe-haven asset



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