Simple Guide to the Best Stellar Wallets in 2024
If you have no idea where to store your Stellar coins, you will need a wallet for that. It would allow you to access your XLM and trade it as you see fit. Of course, there is a great number of wallets that support XLM coins out there as well as provide additional features, but I think you should not just pick a random one. That is why I’ve created this article to show you the best options for Stellar along with detailed reviews to help you make an informed decision.
01.The Best Stellar Wallets
In the table below, I have listed what I consider the best Stellar wallets. You can clearly see their advantages and disadvantages alongside their requirements. I strongly recommend that you check out the wallet reviews that are linked in the table, so you can get as much information as you need to choose an XLM wallet that fits your needs.
| Type | Name | Compatibility | Supported Coins | Features | Get Wallet |
|---|---|---|---|---|---|
| Desktop Wallets | Full Foxlet Review |
XLM Only All XLM Tokens |
– Built-In Exchange – Fiat Gateway |
Download | |
| Full Stargazer Review |
XLM Only |
– QR Scanner – Multisig |
Download | ||
| Hardware Wallets | Full Ledger Nano S Review |
80 Coins 1100+ Tokens |
– HD Wallet – Custom Fees – Open-source |
See Pricing | |
| Full Trezor Review |
50+ Coins 1000+ Tokens |
– HD Wallet – Offline Storage – Third Party Wallets and Service Integration |
See Pricing | ||
| Mobile Wallets | Full Guarda Review |
40+ Coins 1000+ Tokens |
– Built-in Exchange – Fiat Gateway – Built-in Asset Swap |
Download | |
| Web Wallets | Full Stellar Account Viewer Review |
XLM Only |
– Custom Fees |
Visit Website |
Complete List of Stellar Wallets
If you weren’t satisfied with the previously presented alternatives, below you will find a full list of wallets that support Stellar. They offer a variety of different features that can vary from an improved user interface to multi-coin support if you want to hold different coins besides XLM in once place. Again, you can find in-depth reviews of the Stellar wallets as they will give you a better idea of the functionality that you can expect. Also, keep in mind that you’ll need to pay a “base fee” for properly generating an XLM address. The first time you download and open any of the wallets bellow, you’ll have to send 1-2 XLM in order to “feed” the wallet so the wallet can work properly. After you pay your base fee, then you can send the rest of your funds.
| Name | Type | Compatibility | Supported Coins | Features | Key Features |
|---|---|---|---|---|---|
| Stellar Core Stellar Core | Desktop |
XLM All XLM Tokens |
Passphrase |
– HD Wallet – Different Node Modes – Multisig |
|
| Abra | Mobile |
20+ Coins 6 Tokens |
Pin |
– Built-in Exchange – Fiat Gateway |
|
| Atomic | Desktop, Mobile |
30+ Coins 1000+ Tokens |
Passphrase |
– HD Wallet – Atomic Swap – Fiat Gateway |
|
| BitGo | Web |
10 Coins 180+ Tokens |
Passphrase, 2FA |
– HD Wallet – SegWit Support – Multisig |
|
| Blockchain | Web, Mobile |
4 Coins 1 Token |
Passphrase, Pin, Fingerprint |
– Built-in Exchange – Fiat Gateway |
|
| BlockEQ | Desktop, Mobile |
4 Coins 1 Token |
Passphrase, Pin, Fingerprint |
– HD Wallet – Built-in Exchange |
|
| Circle Invest | Mobile |
11 Coins 3 Tokens |
Pin, Fingerprint |
– SegWit Support – Fiat Gateway |
|
| Coinbase | Mobile, Web |
9 Coins 6 Tokens |
Passphrase, Pin, Fingerprint, 2FA |
– Built-in Exchange – Fiat gateway – QR Scanner |
|
| Coinspace | Web |
9 Coins 1000+ Tokens |
Passphrase, Pin |
– Built-in Exchange – Location Based Transactions |
|
| Crypto Key Stack Wallet | Hardware |
– |
1000+ Coins |
– |
– HD Wallet – Cold Storage – Fireproof, Waterproof, EMP Proof |
You’ve probably noticed that there is an ample supply of different XLM wallets that can be used for Stellar coins. The wide plethora of features that they offer should suffice for any taste. For example, Ledger’s products are famous for their security, ease of use and amazing multi-coin support. Also, you can notice that you can pick between desktop, web, mobile or hardware wallets depending on your needs.
02. Common Features of Stellar Wallets
The Stellar project is a fork of the code for Ripple and is an open source blockchain. What that means is that the code is widely available to anyone who would like to take a peek as well as being able to modify it as you see fit. You could create a different wallet from it if you have the necessary knowledge and resources.
The other feature that all Stellar wallets share is the low transaction fees. The network has a fixed transaction fee that changes depending on the number of operations the transaction contains. Each operation is taxed with a base fee of 0.00001 XLM.
Security and Privacy
While Stellar is an open-source and community driven blockchain network, it does not skimp off on the security factors. Below I have listed a few key features that you can see are shared between the Stellar wallets and could be found in combinations on a lot of them.
Hierarchical Deterministic (HD)
Stellar wallets share the feature of being Hierarchical Deterministic (HD). This means that a twelve/twenty four word unique seed is given to you, from which a countless number of public keys and secret keys can be created in a tree-like structure resembling a hierarchy.
Two-Factor Authentication (2FA)
The Two-Factor authentication is an extra precaution against malicious activities towards your wallet. It is a second security layer that does not hinder your easy access.
Secure Stellar Wallets To Consider
Transaction Fee Management
Next, I would like to talk about the transaction fees and how to manage them. In general, the Stellar network has quite small transaction fees and a set minimum on account balances so that people don’t overwhelm the system and to have an efficient priority mechanism.
There are two variables which together control the transaction fee value. The first is the base fee, which is currently 100 so-called stroops or 0.00001 XLM (Lumens). This is always a constant. The second variable is the minimum base reserve that the address needs to have to make a transaction – 1 XLM. The total transaction fee is calculated by multiplying the operations within the transaction by the base fee of 100 stroops.
03.FAQ
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How can I purchase Lumens (XLM) cryptocurrency?
There are two ways you can buy Stellar coins on the exchanges. You can buy them with fiat money or use another established coin like Bitcoin or Ethereum and exchange them for Lumens.
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Why is inflation built into the Stellar network?
Stellar increases the maximum supply of Lumens by 1% each year in order to account for XLM that are lost in some way. This 1% along with all transaction fees paid on the network are added to the so-called “inflation pool” annually. Each year, users on the network can vote for other accounts based on their reputation to receive a part of the inflation pool as a reward, incentivizing users to be “good citizens”.
04.About Stellar
Stellar is a decentralized network that focuses on cryptocurrency to fiat transfers, allowing cross-border between any pair of currency. The protocol is supported by the non-profit Stellar Development Foundation. Back in 2014, the co-founder of Ripple, Jed McCaleb, launched the Stellar network with former lawyer Joyce Kim. The Development Foundation was created in collaboration with the CEO of Stripe, Patrick Collison and later in July the same year, the project was launched. Stellar received a hefty investment from Stripe of 3 million USD. At its launch, it had 100 billion coins, from which, 25% would be given to other non-profit organizations working towards financial inclusion, Stripe received 2% as a return of the funding. Later, the cryptocurrency called Stellar was renamed to Stellar Lumens. The development foundation behind the network released an upgraded protocol with a new consensus algorithm, which was using SCP cryptocurrency protocol, created by Standford professor David Mazieres.
Later in May 2017, a for-profit organization entity of Stellar, called Lightyear.io, was launched as the commercial division of the company. In September that year, they announced a benefits program, which would award partners with up to 2 million USD worth of Lumens for project development. The next year, in September 2018, Lightyear Corp acquired Chain Inc and combined resources to form a new company called Interstellar.