To make the search for a Stellar Lumens (XLM) wallet as easy as possible for you, we have tested several wallets extensively and created a ranking of the best Stellar Lumens wallets. In this article we summarize the experiences from our tests as well as the most important information about the different wallets.
Depending on whether you are looking for a hardware wallet, desktop wallet, Smartphone wallet or Web Wallet, you will receive a recommendation from us. The article is structured in such a way that we go from the most secure wallets (hardware wallets) to the most insecure wallets (web wallets).
As an introduction to the topic, however, we will first give you a theoretical introduction to the topic. From our point of view, a basic understanding of the technology is essential to understand which wallet is the best XLM wallet and why. If you already know your way around, you can also skip the info boxes and read our recommendations for the best Stellar Lumens hardware wallets.
Beyond the theoretical understanding, we want to give you two pieces of advice:1.Even before buying Stellar Lumens (click here to read our guide) you should consider which wallet you want to use to store your private key. If you have made this decision before purchasing, you can enter your wallet address as your destination address during the purchase process and save time and money. 2.Second, you should get your XLM off an exchange or broker as soon as possible. From our point of view, there are two very important reasons for this. As you know (now), the private keys are the access keys to your cryptocurrency. When you use a trading platform such as Binance or Coinbase, you transfer ownership to them. The second problem arises from this: cryptocurrency exchanges are popular targets for hacker attacks. The list of exchanges that have been hacked in recent years is long! Therefore, you should manage the Private Key yourself and keep XLM on an exchange only as long as necessary.
Stellar Lumens hardware wallets
Cold storages include hardware wallets and are the safest and best possible alternative for private customers to store cryptocurrencies in the long term according to the current state of technology. With established and proven hardware wallets, it is almost impossible for the private keys to be stolen from the device due to numerous security mechanisms. The main reason for this is that the private keys are stored isolated on the Hardware wallet without ever coming into contact with the Internet.
Since the hardware wallet has to be connected to the Internet for at least a short time to enable incoming and outgoing transactions, hardware wallets are built in such a way that only “non-critical” components are online.
This means that the private keys as well as the backup phrase are stored isolated on the device and do not leave the device even when signing a transaction, i.e. confirming it on the device (by pressing a key on the hardware wallet). As a result, even if hackers succeed in compromising the management software (Ledger Live or Trezor Bridge), they cannot make a transaction.
In addition, the hardware wallets presented in the following have additional security functions that optimally secure them in the event of analog theft. The Ledger hardware wallets as well as the Trezor Model T can be secured with a PIN and 2-factor authentication. This makes it very difficult to steal Stellar Lumens (XLM) even in the event of physical theft.
Therefore hardware wallets are for us an absolute must-have for crypto investors, even if they are not free of charge. The cost/benefit ratio clearly speaks for an investment. Even the price for our test winner, the Ledger Nano X (about 120 Euro), is compared to the amount you probably invested in XLM and other cryptocurrencies as rather low.
1.Ledger Nano X
Not only for Stellar Lumens (XLM), but also in our comparison test of 8 hardware wallets the Ledger Nano X is our test winner in the category Stellar Lumens hardware wallets. The successor of the Ledger Nano S was introduced in May 2019 and offers some new features compared to the “old” model that justify the purchase even if you already own a Nano S. The new Nano S is a Nano S with a new design and a new design:
- Bluetooth function: The Ledger Nano X can be paired with a smartphone via the Bluetooth function. This allows users to send their Stellar (XLM) via a smartphone without compromising the security of the cold wallet.
- Larger memory: The internal memory of the device has been greatly increased, so that now 100 apps for cryptocurrencies and additional functions can be stored on the new Ledger Nano X.
- Larger screen: The screen has been enlarged. This means that longer reception addresses can now be shown completely on the display, making it much easier to check the address.
- Improved security chip: The central component of the hardware wallet has been reworked and further improved from a security point of view.
Conclusion: From our point of view, there is currently no safer and more user-friendly hardware wallet than the Ledger Nano X! If you would like to learn more about the Ledger Nano X wallet, we recommend that you read our detailed guide and review.
2.Ledger Nano S
Even though the Ledger Nano S has been on the market for a few years, it is still one of the best hardware wallets on the market. In recent years, there has not been a single (known) incident in which cryptocurrencies could be stolen by the ledger Nano S.
With a price of only 59 euros, half the price of the Ledger Nano X, it is an absolute bargain that can store the private keys of well over 1,000 different cryptocurrencies via Ledger Live Software.
Conclusion: If you have only a few different cryptocurrencies besides XLM and can do without the additional functions of the Nano X, the Nano S with a price of only 59 Euro is our top recommendation.
3.Trezor Model T
Like Ledger, SatoshiLabs has completely revamped its long-standing success model, the Trezor One, and released the Trezor Model T in May 2019. A major innovation is the Trezor Bridge software, which makes more cryptocurrencies compatible with the Trezor. The software serves as a “bridge” between the Trezor Model T and third-party software to support previously incompatible coins.
In the case of Stellar (XLM), the Stellar Account Viewer, a lightweight client, is required to send and receive XLM over the Stellar network. Apart from the larger number of compatible cryptocurrencies, Trezor has upgraded its hardware wallet with numerous other improvements:
- Touchscreen: The Trezor Model T has a touch screen that confirms the transactions on the device.
- Firmware Upgrade: The firmware, Trezor Core, has been completely revised and improved for security reasons.
- More powerful processor: The new Model T has a faster processor, which makes operation even smoother.
- Card slot for Micro-SD: A Micro-SD card slot has been added that can be used for data encryption.
- USB-C Port: The “old” USB port has been replaced by the new industry standard, USB-C.
Conclusion: Due to the high price (around 180 euros), the Trezor Model T only came third in our ranking. From our point of view, the Ledger Nano X offers a better price/performance ratio, as it is around 60 euros cheaper and has a few more practical features. In addition, the Nano X has more native apps, requires less third-party software, and is more intuitive to use.
Stellar Lumens (XLM) Desktop wallets
Desktop wallets are downloadable programs that are installed on a computer to store private keys and send and manage cryptocurrencies. Compared to hardware wallets, they have the serious advantage that they are completely free of charge. However, they also have the disadvantage that all hot wallets have in common: The private keys are not stored offline, but come (at least temporarily) into contact with the Internet.
Because of this, desktop wallets require a great deal of responsibility, as the PC used must be regularly supplied with updates and (good) anti-virus software must be installed. If there is insufficient protection, there is a risk that the private keys will be stolen by hackers. However, if the computer is adequately protected, desktop wallets offer a significantly higher degree of security than web wallets. Desktop wallets are therefore the best free option for storing Stellar Lumens (XLM) in addition to mobile wallets.
Below we have ranked the best Stellar Lumen (XLM) desktop wallets in 2019. But first we’ll show you the advantages and disadvantages of using a desktop wallet:
Below you will find our top recommendations for a safe and serious Stellar Lumens desktop wallet:
1.Solar Stellar wallet
The Solar is an open-source wallet developed specifically for Stellar by SatoshiPay and recommended by the Stellar Foundation on the project’s official website. The goal of SatoshiPay is to create a user-friendly wallet that emphasizes speed and security. Accordingly, it is easy to create an account and manage the XLM.
The private keys are stored encrypted on the user’s computer. The key used for this is derived from the user’s password using PBKDF2 with SHA256. This means that the private key is never given to any third party and is very secure as long as the password is strong enough. However, if you forget your password, there is no way to recover your private key unless a backup has been made.
Other features of the Solar wallet include:
- Multi-Sig functionality to add an additional security level to the wallet.
- Integration of the decentralized Stellar Exchange (DEX)
- Testnet support
Conclusion: The Solar wallet is a modern and well designed Stellar Lumens Wallet. If you are looking for a wallet specifically designed for the Stellar network, the Solar wallet is an excellent choice.
You can download the Solar wallet at the following link for Windows, MacOS and Linux.
If you don’t want to use Stellar-specific development for the storage of XLM, the Atomic Wallet, a Multi-Coin-Wallet, is our top recommendation for you. With over 300 compatible cryptocurrencies, the Atomic is one of the most comprehensive multi-coin wallets on the market and some of the few that support Stellar Lumens (XLM).
The Atomic wallet is also supported by the fact that it has a very well-known publisher, the CEO and co-founder of the popular crypto-exchange platform Changelly.com, Konstantin Gladych. In addition, it implements three central demands of the crypto industry:
- Anonymity and
To ensure security and anonymity, the private keys and transaction data are stored encrypted on the user’s computer. This means that neither the developers nor any third parties have access to this sensitive data. Decentralization is implemented by the Atomic Swap function, from which the wallet gets its name.
Atomic Swaps allow users to exchange cryptocurrencies directly with each other, peer-to-peer. Since the function is not yet available for all coins, the developers of the wallet have also integrated the exchange services of Changelly and ShapeShift.
Considering the functional scope and the high security level, the Atomic wallet is our top recommendation among the multi-coin wallets. To download the Atomic Wallet, you can visit the official website (click here!). There you can find the wallet for Windows, Mac, Ubuntu, Debian and Fedora.
3.Foxlet Stellar wallet
The Foxlet wallet is an open source desktop wallet for the exclusive storage of XLM, which operates a complete node. This means that the download of the complete Stellar Blockchain is required. In addition, the wallet must be synchronized with the blockchain with every login in order to be up to date.
The Foxlet wallet stores the private keys as a file locally on the user’s computer and encrypts them. The wallet is thus as secure as the security of your PC. Another advantage of the wallet is that the transactions are signed offline. Another advantage of the Foxlet is that there is no obligation to register, which makes it possible to act anonymously.
In addition, it is a well-designed and easy-to-use wallet that also allows Asian users to deposit, withdraw and manage Chinese yuan and Japanese yen. However, the Foxlet also has two disadvantages: On the one hand, no two-factor authentication is offered. In addition, multi-signature is not supported.
Mobile Stellar Lumens wallets for iOS and Android
Mobile wallets are programs (apps) that, as the name suggests, can be installed on a smartphone and then offer the advantage that you can also make transactions while on the move. Beyond this feature, they are very similar to desktop wallets.
The private keys are stored on the user’s terminal device, just like in a desktop wallet. Like your computer, your smartphone (probably) is also permanently connected to the Internet, potentially putting your private keys at risk.
The topic is even more critical for smartphones, as many smartphone users use public hotspots in cafés, restaurants or at the airport. The problem is that hotspots are public networks in which your data is transmitted completely unencrypted.
If you don’t use a data encryption yourself, the login data to your exchange account or your wallet can be stolen, for example. This makes it all the more important to protect a mobile wallet in the best possible way when using it.
The following overview provides an overview of the advantages and disadvantages of mobile wallets:
The selection of mobile Stellar wallets is rather limited. A few wallets are recommended on the official Stellar Foundation website. However, in various online forums and Reddit there are also some negative testimonials. So the Lobstr wallet is recommended. Experience reports, like this one, have kept us from recommending more mobile wallets for Stellar.
Since there is no mobile Stellar Wallet, which is developed exclusively for XLM and can convince all along the line, the Infinito wallet is our top recommendation. The Infinito is a Multi-Coin-Wallet, which is exclusively available for iOS and Android and has over one million active users worldwide. Since 2017, it has been developed by the Infinity Blockchain Group, a company headquartered in Singapore.
The Infinito wallet is a hierarchically deterministic (HD) wallet that places great emphasis on security and ease of use. To protect the wallet, the user can assign a password, touch ID and passphrase. Furthermore, the private keys are stored locally on the user’s smartphone and not on centralized servers.
For each transaction, a new address is generated, which is connected to the “original address” (= HD-Wallet), which is very important from the aspect of improving anonymity. A further plus point with regard to security is that the Infinito wallet has been audited by the IT security company Smart Dec.
In addition to the very good security level, the wallet scores particularly well with its numerous additional functions:
- Touch-ID: The Touch-ID can optionally be used to unlock the account.
- Contact management: Frequently used crypto addresses can be stored in a list, a kind of contact management.
- Support for multiple languages: English, French, Russian, Korean, Vietnamese, Chinese and Japanese.
- QR-Code-Scanner: Import of addresses via QR Scanner
- Optimization of transaction speed: Economy, Regular or Premium
- Import and export of private keys: The private keys can be imported and exported.
- Crypto credit function: Cryptocurrencies can be loaned via the “Crypto Lending” function in order to earn passive income.
- Export transaction history: Export your own transaction history, filtered by date and cryptocurrency.
Beside these numerous functions there is only one point of criticism! The Infinito wallet does not offer 2-factor authentication.
2.Stargazer Stellar wallet
The Stargazer is a Stellar wallet available for desktop and mobile devices (Android only). It is an uncomplicated interface to the Stellar Ledger that simplifies the process of sending and receiving lumens (XLM). There are several features that have made Stargazer popular. First, it is open source software, which means that the source code can be verified by anyone. In addition, it offers the possibility to create multiple accounts, set up Federated Addresses and has a multi-signature function integrated.
A big advantage of the wallet is its safety. So the private keys are stored locally, encrypted on the Android smartphone of the user. The encryption, decryption and signing of the transaction takes place within the app (within the keychain service in app/core/services/keychain.js). The only time an unencrypted private key leaves the App service is when an account is exported and the user does not use password protection.
There have been a number of complaints in the past about errors in the Stargazer wallet that did not allow users to send or receive XLM. However, they all seem to have been corrected by now. In addition, there have been no complaints about the impairment of the security of the wallet so far.
The functions of the wallet include:
- Multiple accounts (personal and joint)
- Send to: Stellar Addresses, Federated Addresses, E-mail Addresses
- Creating/Receiving Multi-Sig/Multi-party Signing
- Creation of a contact book
- Add comments to transactions
- Import/export of accounts
Stellar Lumens online wallets
Online wallets are among the most popular wallets on the market, although they offer the lowest level of security. This is mainly due to the fact that no installation but only a registration is required. Thus they make a fast entrance possible in particular for beginners.
This is especially true for wallets on cryptocurrency exchanges, which newcomers are very happy to use to store their cryptocurrencies. What users of Exchange wallets must be aware of is that the trading platform is in possession of the Private Key. Since exchanges are a popular target for hackers, the user must fully trust the platform. On the other hand, there are Stellar Lumens specific wallets. Here at a whole, Stellar Account Viewer should be mentioned first.
Below we have compiled an overview of the advantages and disadvantages of online wallets:
1.Stellar Account Viewer
Due to the lack of secure and trustworthy online wallets developed specifically for Stellar Lumen (XLM), the Stellar Account Viewer is our top recommendation, even if the tool is not really a wallet!
The Stellar Account Viewer is a simple tool offered by the Stellar Foundation, on the official website (stellar.org), to create an account in the Stellar network (creation of a public and private key), display and perform transactions with it. No more, no less! In order to carry out transactions, only the Private Key must be entered on the website, which also serves as the login for the account.
Note: Even if the Stellar Account Viewer is ranked first in our online wallet ranking, you should still look for another option for long-term investments. A good option might be to print the Private Key and store it offline (=”paper wallet”). If you own a Ledger or Trezor hardware wallet, you can use it in combination with the Stellar Account Viewer to store your private key.
From our point of view, storing Stellar Lumens (XLM) on Binance is only a good idea if you want to trade actively with XLM. For this purpose, Binance, one of the world’s largest and most popular cryptocurrency exchanges, offers over 150 cryptocurrencies. Stellar Lumens is one of these cryptocurrencies that can be traded against Bitcoin, Ethereum, Binance Coin and Tether.
If you use the Binance Wallet, you should be aware of the disadvantages. On the one hand, Binance is in possession of your private keys, so you must rely on sufficient protection. Secondly, Binance is a popular target for hacker attacks. The numerous hacks of cryptocurrency exchanges in recent years have shown how vulnerable cryptocurrency exchanges are.
Not even Binance is safe from attack, as demonstrated by a hack in May 2019, in which 7,000 BTC were stolen due to a vulnerability in the Binance API. It is true that Binance strengthened the security measures again immediately after the hack and compensated for the loss itself. Nevertheless, the hack clearly shows the vulnerability of exchange wallets. Our recommendation is therefore: Use the Binance wallet only as long as you trade in cryptocurrencies!
If you would like to set up a Binance account, you can do so via this link*.
The eToro wallet is not a “classic” exchange wallet as you probably know it from Binance, Bitfinex or another cryptocurrency exchange. This is because eToro is not only a cryptocurrency broker, but also offers traditional financial instruments (such as ETFs, securities, etc.).
You can click on this link (click here*) to create an account and wallet with eToro.
**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
In the following we have summarized the most important aspects of the use of web wallets:
Stellar Lumen paper wallets
Creating a Stellar Lumen paper wallet can be a very good choice if you want to save XLM offline and don’t want to store it for a long time. Since the password, address and private key are “stored” on a piece of paper, hackers cannot access these data. Only when you want to send a transaction do you have to use a wallet. Receiving XLM also works “offline”, because you only have to give your (public) XLM address to the sender.
1.Stellar Account Viewer
Even though the Stellar Account Viewer is not directly a paper wallet generator, we believe it is still the best way to create a public and private key. It is offered on the official website, stellar.org, and can therefore be regarded as absolutely trustworthy.
After generating the keys you can print them out and keep the note offline so that no hacker can gain access to your XLM. When creating the Wallet, make sure that your PC is free of malware.
Further important information about the Stellar Lumens wallet test
Finally, we would like to give a hint: In this article, we have compiled the available information according to our best consciences and from our own experiences as well as from the experiences of acquaintances.
Despite all efforts on our part, you should seek further information and opinions. In the best case you should just install some wallets yourself and try them out. This is the best way to find out which wallet is best for you.
If you have a question or a suggestion for improvement, please leave us a comment. We are happy to help you and are open for constructive criticism! We would also appreciate a positive review if you liked our contribution to the best Stellar Lumen wallets![ratings]