Stellar a decentralized payments network which competes Ripple’s XRP. Stellar Lumens wants to make the transactions super cheap. It was actually founded by one of the team members of the Ripple.
Stellar has been hanging among the top coins for quite a while now. There’s a huge list of use cases for the Stellar network and that’s why this coin is becoming popular every day.
Stellar’s Lumens tokens, which go by the symbol, XLM are available on most of the popular exchanges. If you are planning to get the Stellar Lumens, you may want to consider storing them in a wallet.
Leaving your funds on exchanges is never going to be a good idea. Especially, when you want to hodl your XLM for a longterm, you should avoid an exchange. That is because it’s nothing new for exchanges to get hacked every other day. There’s a whole history of exchanges getting hacked and the hard-earned bucks of the users getting stolen.
In 2014, we saw the Mt. Gox hack in which more than 850K bitcoins were stolen. Just recently, we witnessed the Coincheck hack in which over $530 Million was stolen. After that, we also saw Bitgrail hack in which the owner of the exchange got away with the over 17 Million XRB tokens which were worth $170 Million.
Although there are some really secure exchanges like Binance and Kucoin, it’s still not a good idea to leave your tokens on the exchange. Because if your funds get compromised, the exchange is never going to return your funds.
In the world of cryptocurrencies, you are your own bank and you are responsible for your funds. So, it’s your responsibility to keep your coins in a wallet that you trust the most.
For Stellar Lumens, there are 11 different wallets available at the moment. There are hardware wallets, desktop wallets and web wallets. There are wallets for Android and iOS as well.
In this post, we have listed all the best Stellar Lumens Wallets. The best Stellar Lumens XLM Wallets are listed in order from having the most secure wallets at the top and the less secure wallets at the bottom. It’s totally your choice what wallets you want to go with.
Best Stellar Lumens XLM Wallets
Let’s have a look at the best Stellar Lumens XLM wallets for February 2018 now and use the one that keeps our funds secure at its best.
Ledger Nano S
This is the most popular hardware wallet. Ledger Nano S is compatible with almost all the top cryptocurrencies. Ledger Nano S has a number of advantages over ordinary web wallets and the hardware wallets. Here’s what it has to offer.
- Ledger Nano S is a small USB-like stick which comes with a USB data cable. The Ledger Nano S does not have a battery. It only turns on when you connect it to the computer.
- The wallet always remains offline. That means there’s near zero chance of your funds getting stolen.
- To sign a transaction, the wallet requires pressing the hardware keys.
- The private key never goes out of the Ledger Nano S. That means your private key can never get compromised.
- Ledger Nano S can synchronize with the Stellar Account viewer to control your funds.
Most of the wallets listed below can be used to store the funds in Ledger Nano S as well.
Stellar Desktop Client
As the name suggests, this is a desktop client for Stellar. It’s a very good-looking and easy to use application. It is available for Windows, Mac and Linux. When you download and install this application, it asks you to create a new wallet or to restore an old wallet.
For the first time, users create a new wallet. A text file of this new wallet is stored in the computers of the users. Every time the users want to access their wallet, they have to load the text file which is protected by the password.
Stellar Desktop Client is like a hot and cold storage. When your computer is turned on and it’s connected to the internet, the wallet acts as a hot wallet. When your computer is turned off and it’s not connected to the internet, the wallet becomes a cold wallet.
Stellar Desktop Client creates a private key for your wallet. This private key is your only gateway to interact with the Stellar blockchain. Since your coins are stored on the blockchain, you can use this private key on any client to access your funds.
Stellar Desktop Client also allows the users to buy or sell the Lumens, which go by the XLM symbol. There are many other features of this wallet that we will cover in a separate post.
StellarTerm is a web-based trading client and a wallet to store your XLM tokens. It is a Stellar-powered decentralized exchange. StellarTerm runs on the Windows, Mac and Linux platforms. This platform is completely capable of interacting with the Stellar blockchain to perform all the operations.
StellarTerm is swift, solid and stunning. This wallet has the best UI to offer among all the Stellar wallets. After installing this wallet, users just have to open it and generate a key pair. This provides the users with the public and the private key. The private key can be used to login into the StellarTerm wallet. After logging in, users can get their XLM address to deposit the XLM tokens.
StellarTerm has a number of other cryptocurrencies listed on it. So, just in case you want to trade your XLM tokens for some other coins, you can do this using the decentralized exchange available in this client.
StellarTerm never shares your private key or the seed phrase with the servers. Everything is stored locally on your computer. StellarTerm works with Ledger Nano S as well.
Lobster is a web-wallet and it has its native Android and iOS application as well. It’s a very neat wallet. It requires the users to sign up using their email. Once the users have signed up, they have the access to the Lobster web-client.
After successfully signing up on Lobster, users have to create a Stellar account. The moment they create a Stellar account, it provides the users with their seed phrase and also the private key. This seed phrase and private key should be kept safe and sound. The address is also provided to deposit funds in your Lobster wallet.
Lobster wallet is light and very easy to use. If you want to avoid any kind of complexity, this is the wallet you should go with.
Centaurus wallet is for Android and iOS devices. If you trust your Android or iOS-powered smartphone, you can grab this wallet and create an account. Centaurus wallet also uses a seed phrase and a private key to secure the funds stored on it.
This wallet has a backup option using which you can create a backup file for your funds. The backup file is encrypted and it can be decrypted only by the Centaurus wallet using your private key or the seed phrase.
This wallet is good for those who want to keep their funds in their hands or in their pockets all the time.
Stronghold is a decentralised exchange built on the Stellar blockchain. Since stellar is all about speedy transactions, this exchange implements this very feature of stellar. The transactions happening through the stronghold exchange are extremely fast. It takes a few seconds for a transaction to happen.
Stronghold supports various cryptocurrencies. It has the Bitcoin, Ethereum and the XLM assets listed at the moment. Stronghold also uses the seed phrase and the private key to lock the funds. Stronghold is not exactly a wallet, but it’s good enough to use as a wallet for your XLM tokens.
Astral is another web-wallet for Stellar’s XLM tokens. This wallet requires the users to sign up using their email address. It adds an extra layer of security using the Google Authenticator.
While signing up on Astral, it did not give me any seed phrase or the private key. So, I have no idea how this wallet keeps the funds secure. All it requires is your email address, password and the 2FA code from the Google Authenticator.
On the homepage of the Astral wallet, you can find your XLM address and also a form to send XLM tokens to another address. This is all that this wallet has to offer.
This wallet is actually cool since it’s purpose is very straightforward, but the security is a little bit doubtful.
Stargazer is just like the Stellar Desktop Client. This wallet is available for Windows, Mac, Linux and the Android OS.
Users install the Stargazer wallet on their computer or on their mobile phone. After installing the wallet, users can grab the address from the wallet to deposit funds in it.
By default, the wallet has a personal account for the users. This personal account has an address in it that can be used deposit funds.
From the settings of the personal wallet in Stargazer, users can create a backup of their current wallet and also protect it by a password.
Saza is a web wallet in which users can create multiple Stellar wallets. The Saza wallet offers a very intuitive UI. One can create an account on Saza using social media platforms like Facebook, Twitter and Google Plus as well.
After creating and account, users can create their Stellar account. This account can be protected by a seed phrase and a private key. The funds transferred to this wallet are stored on the Stellar blockchain. This client is only a way to interact with your funds.
StellarPort is a web wallet as well. This wallet is the simplest web wallet and also the most secure web wallet to store your XLM tokens. The wallet uses a private key or the seed phrase to lock your funds. The StellarPort can work with the Leder Nano S as well.
StellarPort has a little exchange where you can exchange your XLM tokens for some other coins. StellarPort sign up does not require your email address or other details. All you have to do is to generate a new keypair or create a keystore file which is then used to login into your StellarPort account.
StellarPort can be used to store funds on Ledger Nano S as well.
Don’t forget to have a look at the Best Ripple XRP Wallets.
That’s all. I hope that you guys find this list helpful. If you have anything to add to this list, drop it in the comments section below.