Lumens (XLM) is a native cryptocurrency of the Stellar platform – a network that provides a fast, cheap, and secure way to transfer funds across borders. It is a decentralized ecosystem with an open-source payment infrastructure that ambitiously aims to be the next PayPal at the very least. XLM is essential for Stellar to thrive, as these coins power the network.
For those who store and trade Stellar Lumens, Changelly prepared a list of popular XLM wallets. But first, we’ll bring to your recollection basic information about the Stellar platform and its native digital currency.
What Is Stellar Platform About?
Since it was founded in 2014, the Stellar network has been helping users to transfer their funds around the world. The platform charges unbelievably low transaction fees (around $0.00006) and provides a split-second operation speed. Basically, Stellar is an enhanced and decentralized banking system of the future.
The platform’s ultimate goal is quite noble. It doesn’t cater to powerful corporations’ needs but attempts to create a new, better, inclusive global economy.
At the time of writing, Stellar Lumens is among the top 15 cryptocurrencies with the highest market cap. This coin is traded on various platforms and is compatible with a number of wallets. There are storages for everyone, from advanced crypto users to complete novices, so dive in and feel free to pick the one that suits you best. If you want to know more about wallets for other digital coins, check out our article Best Multi-Currency Wallets.
Stellar Lumens (XLM) Mobile Wallets (iOS and Android)
Wallets that can be installed on your smartphone are among the most popular ones due to being handy and user-friendly. Most of the apps have Android and iOS versions.
As assumed in its name, Trust Wallet is a trustworthy and safe storage. It enables users to buy, sell, store, exchange, and earn crypto, as well as view prices. This wallet is compatible with Ethereum tokens, for instance, ERC20 and ERC223, and that includes Stellar Lumens. It has a simple and straightforward interface, so this wallet is quite suitable for newbies.
In 2018 Trust Wallet was acquired by Binance, which added value to the brand and made it seem even more credible to a broader public. Trust Wallet allows users to store private keys on their own device, which proves to be an important security feature. It also includes a backup facility for simple recovery. Users can get access to DApps directly from the app through a built-in Web3 browser.
The Lobstr wallet is quite intuitive and easy to use. Like all the hot wallets, it has certain security issues, but at the same time, Lobstr boasts a decent safety level compared to competitors as it is a non-custodial wallet.
Lobstr works with all top currencies, including fiat. This wallet gives you quick and easy access to your Stellar Lumens. Users have several safety opinions when it comes to unlocking this wallet: 2FA, fingerprint feature, or a security 4-digit pin.
Stargazer is another free wallet that can store Stellar Lumens. It has a mobile app and a desktop version and is quite a popular choice among Stellar Lumens holders. The app can only be installed on Android-based smartphones, but Apple-lovers are free to use it on their computers, as the desktop version is perfectly compatible with macOS.
This Stellar Lumens wallet has a simple design and user-friendly features; it perfectly suits novices in the crypto world. Stargazer is open-source and supports both personal and shared accounts. Like any other hot storage, it may not be the safest option on the market, but it’s an excellent choice for XLM holders who are just starting to wrap their heads around this digital coin.
Stellar Wallet by Freewallet
Freewallet is a multicurrency custodial wallet and an online platform that offers a broad range of products, including a handy Stellar Wallet by Freewallet. The app is compatible with Android smartphones, and there is also a web version. Freewallet development team takes safety seriously: Stellar Wallet uses multi-signature confirmation for each transaction, strong encryption, two-factor authentication, pin-code, and support fingerprint access.
Stellar Wallet is an excellent choice both for professionals and beginners in the crypto industry. It has an easily intelligible interface and an array of useful features. A user can create a wallet by linking it to their email, Facebook, or Google account and access the wallet via a mobile app or from a browser on OSX, Windows, and Linux-based operating systems.
Web wallets are a kind of hot wallets, so a user should always be aware of possible security issues. Nonetheless, online wallets are popular among crypto holders as their vulnerabilities are more than outweighed by their advantages.
Blockchain.com Wallet is one of the most popular crypto products on the web. It supports five coins, including Stellar Lumens, boasts over 52 million installed wallets, and operates in 20 languages. This platform has been on the market since 2013 and proved to be a convenient and secure option for buying, holding, and using crypto. It exists in the form of a mobile app as well.
Blockchain.com incorporates several security options: 2FA, email verification, 4-digit code, and even biometrics. It is rookie-friendly and simple to use. Crypto to fiat transactions are possible on Blockchain.com in 30 countries.
This wallet is an easy-to-use and secure web option for storing XLM. Astral Wallet offers several interesting features, including dividend payments via an inflation pool. It allows you to get extra Stellar Lumens for storing your funds on the wallet.
This wallet enables multiple addresses, however, you need to confirm your email for every new address. Astral Wallet uses two-factor identification and encrypts data with AES-256. It is a relatively safe wallet for a hot storage, but it can never hurt to be extra safe.
Stellar Lumens Desktop Wallets
Foxlet is a wallet that has been created specifically for Stellar Lumens and is recommended by the Stellar development team. It works on macOS, Linux, and Windows. Foxlet Wallet focuses on one sole thing – keeping your Stellar Lumens safe.
This wallet is believed to be quite secure and trustworthy. However, users should remember that a cold wallet is as reliable as their personal computer is. It happens because that’s where your secret key is stored. Foxlet’s interface is a bit scarce, but, on the other hand, it boosts the app’s speed and doesn’t bother users’ eyes. This wallet is simple to use and has a basic set of features.
Stellar Lumens Hardware Wallets
It is commonly known that hardware wallets are the most reliable and safe among storage options. Here are the best cold hardware wallets for storing XLM.
Ledger Nano S
This wallet is well-known and respected in the crypto community. It supports over 1200 digital coins, and Stellar Lumens is not an exception. Ledger Nano S is one of the most (if not the most) secure options on the market in 2020.
The private key is stored offline, which provides the ultimate security for your crypto. If you lose the key, there is a way to get your coins back – the wallet allows you to use a special seed phrase to recover your funds. Ledger Nano S also offers two-factor authentication for more secure access to your XLM.
The device costs around $75-80 and can be purchased online. It is compatible with 64-bits desktop computers (Windows 8+, macOS 10.10+, Linux) except ARM Processors, and also with Android 7+ smartphones.
BC Vault is a hardware wallet famous for its top-level security. It is considered so reliable that every BC Vault wallet comes preloaded with one Bitcoin: if a user can hack the encrypted Bitcoin, they can keep it. The wallet is intuitive and easy to use; it supports all ERC-20 tokens. BC Vault can be purchased online and costs around $150.
There are several solid options for storing Stellar Lumens. Foxlet is a wallet dedicated exclusively to XLM and one of the best desktop wallets for this coin. The best hardware storage for Stellar Lumens is, undeniably, Ledger Nano S, a well-loved and credible wallet. We’ve listed four best mobile app wallets compatible with XLM: Trust Wallet, Lobstr, Stargazer Wallet, and Stellar Wallet by Freewallet. Some of those wallets also have desktop and web versions. The most prominent online storages are Blockchain.com and Astral Wallet.
You can buy Stellar Lumens on Changelly for fiat money via a credit card (Visa or Mastercard), a bank transfer, or Apple pay. To learn more about buying XLM, check out our article on How to Buy Stellar.