Stellar is an online platform through which banks, payment systems and people can be connected. Stellar also facilitates mining and storing its cryptocurrency. It has seen rapid growth since 2017. It is at present regarded to be one of the top 10 largest cryptocurrencies worldwide. With the introduction of these cryptocurrencies, armature investors might have many questions like what is the best way to store Stellar Lumens? This article going to explain Stellar wallet to store your Stellar Lumens safely.
1. Ledger Nano S – One of the Best Stellar Wallet
Hands down, Ledger Nano S has been one of the best hardware wallets in the crypto market at present. At present Stellar Lumens only supports the use of one hardware wallet which is Ledger Nano S. Ledger Nano S is a hardware wallet for storing cryptographic assets and securing digital payments based on vigorous safety features and useful now for storing Stellar Lumens.
It keeps your Stellar Lumens offline for safety. This way the Lumens cannot be accessed by an unauthorized person even if they hack your computer. Ledger Nano S does not have any internet connection, so the data you have stored does not leave the device. It looks very much similar to a USB flash drive.
The salient features of Ledger Nano S are:
- It supports multiple currencies.
- The data is locked with a 4 digit PIN Code. If you forget the PIN code it can be reset by going to the factory settings and entering the wrong pin 3 times after which the 24-word backup key is required to restore it.
- Your accounts are backed up on recovery sheet and the restoration is relatively easy on compatible wallets.
- It supports FIDO® Universal Second Factor authentication standard.
- It has a built-in display, and it checks and confirms a transaction on the display.
After you acquire your Ledger Nano S, follow these steps:
- Connect the Ledger Nano S on a USB port.
- Check and configure your transactions with the buttons and see the display.
- Protect your accounts and apps with 4-digit PIN Code.
- For stronger authentication for online services use FIDO authentication.
- Create a new multi-account wallet for configuration.
- Import any compatible backup for restoration.
- Personalize your Ledger Nano S by going to settings.
If you are willing to spend money to safeguard your hard-earned Stellar Lumens then it is suggested that you use a hardware wallet, and amongst the best, Nano S.
List of Stellar Wallet
Apart from the hardware wallet, Ledger Nano S, there are also other desktops, mobile and web wallets that Stellar supports and which are other alternatives for safely storing your Stellar Lumens. These Stellar Wallets are mentioned below:
StrongHold is a well-known distributed exchange which is built on the Stellar Network. It helps for the trade and storage of cryptocurrencies.
It is a web wallet which is currently supporting Stellar Lumens. The company also suggests that they facilitate the buying and selling of these currencies in less than a minute.
Some of the key features of Stronghold are:
- Multi assets: It supports numerous digital currencies.
- Developer friendly.
- Class security is provided for the safety of Lumens.
- Friendly fees.
The desktop and web-based StellarTerm wallet helps to secure your Lumens and supports Windows, Mac, and Linux. It is not just targeted for the pro investors and traders but also armatures who do not quite know about the cryptocurrency and how to safeguard it. The highlight of this wallet is perhaps the up to date list of all anchors for a more straightforward and safer experience for the users.
Some of the Key features of StellarTerm are:
- Helps to view the balance.
- Facilitates the exchange of cryptocurrencies.
- Creates trust lines.
- Also, check the popular exchange markets.
Astral is yet another web wallet which facilitates in the safeguarding and storage of your Lumens.
Some of the key features of Astral are:
- Your deposits will earn inflation.
- It supports multiple Stellar tokens like XLM, MOBI, and SLT.
- 2 Factor Authentication is mandatory for all accounts using TOTP.
- Data is encrypted with AES-256.
- New threats are monitored every time.
- Passwords are hashed with Argon2.
- Users can easily generate multiple application-specific addresses.
Web-based portal, Stellarport facilitates real-time trading, account monitoring and payments with advanced features like hardware wallet support. It supports Windows, Linus, and Mac. Stellarport says that their network settles transactions in an average of 5 seconds to 10 seconds. It also supports Hardware wallets.
Some of the key features of Stellarport are:
- You can view your account profile, history, assets.
- It takes your secret key.
- It is mobile friendly.
- A friendly and easy user interface.
Lobstr is a wallet for Stellar which is available as a web app and also as Andriod and iOS apps. It also facilitates the trade of Lumens along with its safety. It’s email notification, and other advanced features help in making the user experience even better. You can start with a new wallet or can also reconnect with the existing Stellar.org account to Lobstr.
Some of the key features of Lobstr are:
- Send, receive and store Lumens.
- Prompt XLM price converter.
- Fraud prevention measures.
- Supports operations with multi-transactions.
The web-based Stellar wallet, Saza helps to manage Lumens and other assets as well. Made in Nigeria, it helps for a secure storage of Lumens.
Some of the Key features of Saza:
- User-friendly display.
- Link existing Stellar account.
- Helps to manage multiple accounts.
- The inflation addresses can be set.
- Helps to create and manage offers and trust lines.
- Provides safe access.
- Merge accounts.
- Custom Donation Plugin.
- Supports multiple balances.
- It also supports most used Stellar operations.
Papaya is a user-friendly web wallet for the storage of Stellar Lumens. It supports numerous cryptocurrencies. Even the amateur traders will find the app very easy since it does not require prior technical knowledge, no keys, trust lines, or minimum balances.
Some of the key features of Papaya are:
- It facilitates cross-currency payments.
- It supports federation.
- It is a built-in marketplace facilitating peer-to-peer trading.
- Enhanced security of Lumens.
InterstStellar is a web-based portal for securing the Lumens. It has rich features for the storage and exchange of Stellar Lumens. InterStellar facilitates you with a full control of your Stellar Lumens. It works on smartphones, tablets, and computers for free.
Some of the key features of InterStellar:
- It facilitates hardware wallet support.
- Helps manage multiple accounts and assets.
- Facilitates trade or swap tokens.
- Multi- sig security for your Stellar Lumens.
- Helps deposit and withdraw various digital currencies.
- Funds Stellar account with numerous digital currencies.
The multi-functional wallet Firefly supports both web and android app. The Stellar network can be easily accessed and used through the mobile app. The trade and storage of digital assets are very easier and protected.
Some of the key features of Firefly are:
- Multiple accounts can be made.
- Assets Management support: Secret key, password, PIN code, triple protection.
- it is a built-in Stellar decentralized exchange; the fee is almost zero.
- It supports QR code.
- Contact Management with a federation which means no need for a complicated address.
- Inflation Pool setting.
Foxlet is a desktop wallet which supports Windows, Mac, and Linux. It facilitates the encryption of your secret key and helps store it as a file locally on your computer. It is one of the most trusted wallets to store your Lumens.
Some of the key features of Foxlet are:
- The login information is stored locally.
- The Lumens can be easily traded.
- The trust is added from known anchors.
- The trust is removable when the balance is nil.
- Deposit and withdraw CNY.
A mobile and desktop application, Stargazer has enhanced features to keep your Lumens safe from unauthorized access. It allows making multiple accounts, networks, and languages. It supports Android, Windows, Mac, and Linux.
Some of the key features of Stargazer are:
- You can make multiple accounts.
- You can transact multiple assets.
- Federated addresses.
- You can create and receive Lumens in multiple –sig and multi-party.
- Signing requests.
Centaurus has gained recognition for being the first Stellar wallet which was available on Google Play. It is an open source app supporting both Android and iOS. A Stellar address is created for you so that you can promptly receive Lumens in the address.
After that, you can start spending theses Lumens by scanning a friend’s QR code or other ways. You can enter the keys of an existing Stellar account to access it with your mobile device.
Some of the key features of Centaurus are:
- You can see the account balances.
- Send by manually pasting an address.
- Send Lumens by scanning a QR-code.
- Receive by scanning QR code.
- Facilitates cross-currency payments.
- Has encrypted backups.
Smartlands is a web wallet which supports Windows, Ma, and Linux and is an easy as well as a secure way to store your Lumens. You can also trade on Stellar Decentralized Exchange. You can access the enhanced features of this Stellar based Smartlands Platform.
Smartlands focuses mostly on security and functional design. It provides a user-friendly experience.
Some of the key features of Smartlands are:
- The user interface is simple and intuitive.
- It has enhanced feature wallet and exchange.
- The functions are SmartLands-specific.
- Provides Asset issuance functions.
So, Which one is your best Stellar wallet! please give us feedback. Your experiences will help us to improve this article.