What is the stellar wallet? Stellar Lumens (XLM) has become one of the most popular cryptocurrencies in 2021. So, it’s no surprise that people wonder what kind of wallets they should use to store their Stellar Lumens (XLM). Stellar Lumens (XLM) is a cryptocurrency, just like Bitcoin or Litecoin. So, you need to have a Stellar Lumens wallet installed before you can start buying, selling, or trading XLM.
Stellar Lumens (XLM) is an open-source protocol for exchanging money and tokens globally. The Stellar network has been built with distributed ledger technology which aims to connect people, payment systems, and banks by allowing them to send money quickly, reliably, and at almost no cost. Many different wallets are available, but not all of them offer full functionality.
The Stellar Lumens wallet is a digital wallet that can store, send, and receive XLM. It’s the official token of the Stellar network, and it’s primarily utilized for transactions on this platform. The best Stellar Lumens wallets provide a good level of security combined with ease-of-use features, such as support for multiple currencies or coin types, cross-platform compatibility, offline storage options, and more.
It can be challenging to find the best stellar lumens wallet for your needs, especially if you are new to crypto and don’t know where to start. But we’re here to help! This Stellar Lumens wallet guide will give you all the information you need on both wallets and exchanges available and how they compare. We’ll also show you a list of some of our favorites so that it’s easier for you. So let’s get started!
What is Stellar XLM?
Stellar Lumens (XLM) is a cryptocurrency created in 2014 by Jed McCaleb. It’s an open-source protocol for exchanging money and tokens globally, which makes it perfect for cross-border payments. The Stellar network has been built with distributed ledger technology which aims to connect people, payment systems, and banks by allowing them to send money quickly, reliably, and at almost no cost.
One of the main advantages of using XLM is that transactions are processed quickly. They usually take only about five seconds to complete! This makes it an excellent choice for businesses or individuals who need to make fast transactions. Transactions on the Stellar network are also secure and reliable.
The Stellar Lumens (XLM) token facilitates trades on the platform. However, it’s also used by organizations that want to exchange value securely and reliably without relying on traditional financial institutions like banks or payment providers. XLM has become one of the most popular cryptocurrencies in 2021, with millions of people using it worldwide for cross-border payments, microtransactions, and more!
How does Stellar work?
The Stellar network is an open-source blockchain-based distributed computing system that allows users to send money quickly across borders at almost no cost. Transactions are made via Lumens (XLM), a digital currency. The main goal of this cryptocurrency was not only security but speed, too – making global transfer fast enough so that anyone can use it without any delays.
The Stellar Foundation, a non-profit organization, created the XLM token and oversaw the development of the Stellar network. The foundation was founded by Jed McCaleb in 2014 and is based in San Francisco, California. Stellar.org also manages the “Stellar Partnership Grant Program” which is an initiative that aims to help non-profit organizations and companies from all over the world by providing them with financial support for their projects to become a reality on Stellar’s platform. This program was created as part of Stellar’s mission to develop innovative use cases, platforms, products, and services around its cryptocurrency token XLM!
In 2017, IBM partnered with Stellar to facilitate cross-border payments between banks using blockchain technology and digital currency Lumens (XLM). The goal behind this partnership was to improve transaction speeds and reduce the costs involved in these types of transactions. It has been reported that some large banking institutions have already started testing out these technologies together.
But, Stellar isn’t only associated with banks. Some of the biggest companies like Shopify and Overstock use it for their business! The platform offers its users many other advantages that make this cryptocurrency valuable – including speed, security, low fees (about 0.000001 XLM per transaction), reliable support 24/24h, and more!
What is Stellar Lumens Worth?
The value of a single Stellar Lumens token was around $0.0001 at the beginning of 2017 and reached its highest price in January 2018 when it changed hands for as much as $0.90! It’s currently worth about $$0.2653 (at the time of writing this article), which is still almost 30 times higher than what it used to be a couple of years ago! It has a circulating supply of 24.65B XLM with a market capitalization of $6,494,023,427 and a trading volume of $1,681,779,036.
So why has XLM grown so quickly?
One reason might be that this cryptocurrency enables individuals and organizations worldwide to conduct fast transactions without fees (some exceptions apply). But there are many other reasons too – including increased support by large companies like IBM, partnerships with banks and businesses across multiple continents, wide adoption among users who want secure and digital currency alternatives… And more!
The Stellar network is growing rapidly, and we can expect it to continue its success in the future as well. If you want to know more about how this cryptocurrency works, check out blogs and participate in discussion forums, where all these details and much more are shared! And if you’re planning on using XLM for your business or personal needs, make sure that you choose a wallet with stellar lumens support – like Ledger Nano S, which offers secure storage options for other cryptocurrencies, too (including BTC, ETH, XRP).
How to buy Lumens?
Today, you can purchase Lumens on various online exchanges or mine them if you have a powerful enough computer hardware setup. You can also receive some free coins by signing up for crypto faucets.
One thing is sure – the value of Stellar Lumens has been growing rapidly over the past few years! If you’re interested in learning more about this cryptocurrency, make sure to follow our blog. We post new content daily and share all details related to XLM that are worth knowing for anyone considering using it themselves.
Do Stellar Lumens have a wallet?
Yes, there are various Stellar Lumens wallets that you can use. The most popular options include the Ledger Nano S hardware wallet, the Stellar desktop wallet, and Stellar Account Viewer. But whatever option you choose, make sure that it supports Lumens! Most importantly, don’t forget to write down your private key or seed phrase before you store your XLM on any wallet. This is the only way for you to recover it in case anything gets lost! You can also keep your XLM tokens on exchanges if you don’t want to worry about security or manage a separate wallet.
With that being said, we have listed and discussed some of the best Stellar Lumens XLM wallets that you can use. Make sure to check them out and choose the one that best suits your needs!
Best Stellar Lumens XLM
Ledger Nano S Hardware Wallet
The Ledger Nano S is a popular hardware wallet that supports many different cryptocurrencies, including Stellar Lumens. It’s a small device like a flash drive that easily fits your pocket and allows you to store your XLM securely offline. The best part is that it comes with a built-in LED screen that displays all your transactions and provides an extra layer of security by verifying them with the press of a button. If you’re looking for a secure way to store your XLM, the Ledger Nano S is worth considering! The best thing about the Ledger Nano S hardware wallet is that it supports many different cryptocurrencies other than Stellar Lumens XLM!
So, if you’re looking for a secure way to store your XLM that is reliable and easy to use, the Ledger Nano S is worth considering!
- Ledger Nano S Hardware Wallet costs $99.00
- Stores Stellar Lumens, Bitcoin, Ethereum, Litecoin, Dogecoin, and many other coins.
- Comes with a built-in screen to display all transactions and provide an extra layer of security.
- Easy to use and fits easily in your pocket.
Stellar Desktop Client (Foxlet)
The Stellar Desktop wallet (Foxlet) is an open-source wallet still in development. It allows you to store your XLM safely offline on your computer and encrypts them with a password of your choice. You can quickly recover the wallet at any time by entering the same password again, which makes it perfect for long-term storage!
One downside is that this client isn’t as user-friendly as some other wallets might be – so if you’re planning to use Stellar Lumens but don’t have much experience handling cryptocurrencies yet, we’d recommend choosing another option first!
If you want total control over your coins and manage multiple accounts/addresses, though, Foxlet will do the trick! The great thing about using desktop wallet is that you can even run it offline on a computer without an internet connection.
Also, Foxlet is an open-source wallet still in development, so more features are likely to be added over time.
- Foxlet – $0.00
- Safely stores your XLM offline on your computer.
- Can encrypt them with a password of your choice for extra security.
- Easy to recover the wallet and enter the same password again in case anything gets lost or forgotten.
- Stores Stellar Lumens (XLM) safely offline on your computer using encryption with a secret key of its own, rather than by trusting a third party as other wallets do.
Stellar Account Viewer
The Stellar Account Viewer is a free online tool that lets you view all your accounts’ balances and transaction history. It’s easy to use, but it requires an internet connection, so it can’t be used on mobile devices or offline. For those looking for a more personal option with additional features, though – this might be just what you’re looking for! Remember that since this isn’t a full-fledged client, there are some limitations compared to other wallets: no multi-device synchronization and lack of support from third-party software developers.
If you don’t need these extra features, though, this is the best Stellar Lumens wallet and a fantastic alternative way to access your XLM account balance without having to download anything! You’ll even be able to recover your account if anything happens to your computer!
- Stellar Account Viewer – Free
- Lets you view all the balances and transaction history of your accounts.
- Easy to use but requires an internet connection.
- No multi-device synchronization or support from third-party software developers.
Trezor One/Trezor Model T Hardware Wallets
The Trezor One/Trezor Model T hardware wallets are another excellent option for storing your XLM! It’s a small USB device that easily fits your pocket and supports many different cryptocurrencies.
Like the Ledger Nano S, it comes with a built-in screen to display all transactions and has extra security measures in place to keep your coins safe.
One downside is that it can be expensive compared to other wallets – but if you’re looking for total security and peace of mind, it might be worth the investment!
- Trezor One/Trezor Model T Hardware Wallet – $119.00/$149.00
- Stores Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, and Zcash in addition to Stellar Lumens.
- Comes with a built-in screen to display all transactions.
- Extra security measures in place to keep your coins safe.
- Can be expensive compared to other wallets.
The BlockEQ wallet is a new, Stellar wallet that’s quickly gaining popularity among XLM holders.
It’s available on iOS and Android devices and supports multiple currencies – making it perfect for those who want to use XLM for everyday transactions! Moreover, it can be downloaded on Windows and Mac computers.
You can maintain control of your private key by writing a 24-word seed generator on paper. There’s also an advanced passphrase option that acts as a second layer of protection.
Coinsquare, a Canadian exchange, recently acquired BlockEQ. Coinsquare will now be responsible for further developing this Stellar Lumens wallet.
One downside is that it doesn’t have as many features as some of the other wallets on this list, but it’s still an excellent option for those looking for a simple, user-friendly experience.
The best thing is that it’s completely free to use!
- BlockEQ Wallet – Free
- Available on both iOS and Android devices.
- Supports multiple currencies, making it perfect for everyday transactions.
- Simple, user-friendly experience.
The Clix Wallet is the first-ever Stellar Lumens wallet for iOS devices! It’s an open-source, non-custodial blockchain wallet that lets you store your XLM securely and access them whenever you want.
It provides a clean interface that focuses on user experience – giving users greater control over their coins with features like multi-factor authentication, biometric verification, and more. Clix Wallet has become increasingly popular in recent months thanks to zero fees transactions (as long as you don’t use it via public wifi or mobile data) so if this sounds like the perfect fit for your needs – give it a try!
Essentially, it is a Stellar peer-to-peer wallet, which means you’ll hold your private keys and be the only one who can access your funds.
- Clix Wallet – Free
- First Stellar Lumens wallet for iOS devices!
- Open source, non-custodial blockchain wallet that lets you store XLM securely.
- Comes with multi-factor authentication, biometric verification and more to give users greater control over their coins.
- Zero fee transactions as long as the user does not use it via public wifi or mobile data.
The Stronghold wallet is a secure, desktop Stellar Lumens wallet perfect for those who want to hold and use their XLM offline. It supports multiple currencies and provides a user-friendly interface with all the features you need to manage your coins. Plus, it’s one of the only wallets that allow you to vote on new Stellar lumens proposals!
It is a financial services platform that enables trading, payments, and US Dollar reserves using products like its stablecoin (Stronghold USD) and platform APIs.
You have to create a Stronghold account, and your XLM wallet will be formed. Once your account has been formed, you will be given dedicated storage space for Stellar Lumens.
If you’re looking for a safe and secure way to store your XLM – this is the wallet for you!
- Stronghold Wallet – Free
- Secure, desktop Stellar Lumens wallet.
- Supports multiple currencies and provides a user-friendly interface.
- Allows users to vote on new Stellar lumens proposals.
- Safe and secure
The Astral wallet is a free Stellar Lumens wallet that you can use on your computer. It allows for easy storage and access of XLM, plus it provides users with an in-built currency exchange, so they can trade their coins whenever they need to!
It works in a way that you receive payments from the inflation pool. The wallet allows you to create multiple accounts, and you can additionally store SLT and MOBI tokens. The best part is that you can easily trade on the decentralized platform and send payments.
- Astral Wallet – Free
- Stellar lumens wallet that works on computers.
- Provides users with an in-built currency exchange.
- Allows them to store and access their XLM easily.
While plenty of wallets are available right now, not all provide the best possible experience for new or experienced cryptocurrency investors alike. You’ll want something simple but effective, secure but convenient, and this list should help point you in the right direction! Just remember: do your research before choosing a wallet to store your precious lumens in!
We hope that this list helps you find the answer to your question – Where can I store XLM? If you’re looking for the best wallet to store your XLM, we’d recommend checking out the options listed above! Each one has its unique benefits and drawbacks, so make sure to choose the one that’s right for you!
Is XLM wallet a good investment?
This is a question that many people are asking, and it’s not an easy one to answer. Cryptocurrency wallets can be an excellent investment if you choose the right one – but only if you’re prepared to take on the inherent risks involved in owning digital assets.
Make sure you do your research before investing in any Stellar wallets, as there are plenty of scams and fraudulent activities happening in the cryptocurrency world right now. Only invest what you’re prepared to lose, and never leave your coins sitting in an online wallet for extended periods!