Don’t fret. We’ve compiled a FAQ for you below—dive in and explore.
Stellar is a decentralized peer-to-peer network created by Jed McCaleb and Joyce Kim. It was formed back in 2014 when it was forked from the Ripple protocol. Since then, the codebase has been updated.
Stellar and IBM have partnered together to make the IBM World Wire – a project that researches and deploys methods to make global payment cheaper and simpler.
Stellar plans on creating a global payment system from the ground up. Since they are primarily a payment system, their transactions are cheap and more manageable than other crypto platforms.
The Stellar Development Foundation or Stellar Org is a non-profit organization that is responsible for fostering partnerships and maintaining the codebase.
You can store XLM tokens in your CoinSmart account.
Most recent update: October 22, 2021
This overview provides a summary of certain risks involved trading any crypto asset and is not exhaustive. Investors are encouraged to conduct their own research prior to trading any crypto asset.
No securities regulatory authority has expressed an opinion about the Crypto Contracts or Stellar, made available on the CoinSmart Platform, including an opinion that Stellar is not itself a security and/or derivative. Changes to applicable law may adversely affect the use, transfer, exchange or value of your crypto assets and such changes may be sudden and without notice.
Prior to listing Stellar on the CoinSmart Platform, Simply Digital Technologies Inc. (SDT) conducted due diligence and determined that Stellar is unlikely to be a security or derivative under Canadian securities legislation. Our analysis including reviewing publicly available information concerning:
Like all crypto assets, there are general risks associated with Stellar including: volatility risk, liquidity risk, short history risk, demand risk, forking risk, code defects, regulatory risk, electronic trading risk and cyber security risk. For additional information of general risks associated with crypto assets, you may refer to the Risk Statement. Further, unlike Bitcoin, the development of Stellar is more centralized and dependent on the non-profit Stellar Development Foundation. Informal governance by the Stellar Development Foundation may result in new changes or updates to Stellar that impacts its value.
As a reminder, this Crypto Asset Statement is not intended to be exhaustive of all risks associated with trading Stellar and we encourage you to conduct your own due diligence to determine whether trading Stellar is right for you.
SDT is offering Crypto Contracts on crypto assets in reliance on a prospectus exemption contained in the exemptive relief decision Re Simply Digital Technologies Inc. dated October 22, 2021 (the Decision). Please be aware that the statutory rights in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under the securities legislation of each other province and territory in Canada, do not apply in respect of the Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.