The Stellar blockchain wants to be compatible with each worldwide financial system. We look at the top three wallets for the XLM token.
So, let’s have a look at three of the top wallets for Stellar.
Ledger is a hardware wallet. They are currently the most popular hardware wallet. It’s also a cold storage wallet. In other words, the wallet doesn’t connect to the internet. Ledger currently offers three different Nano versions. For instance, the S, Plus S, and the X version. The latter, the X version, is the most advanced wallet Ledger currently offers.
Here is how you can store your XLM tokens on a Ledger Nano.
Now you can buy, manage, and swap Stellar. You can do this, for example, on StellarX. However, be aware that you will need at least 2 XLM to activate your account. Furthermore, StellarX will lock these 2 XLM. Here’s a Ledger guide on using StellarX.
Trezor is another hardware wallet with cold storage. It’s a competitor for Ledger. Trezor offers two models, “Model T” and “Model One.” The Model T is the most advanced option.
However, be aware that you can’t use a Trezor to manage Stellar directly. You first need to install a compatible Stellar third-party wallet. For instance, Exodus, Account Viewer, or Stellarport. There’s no reason to worry about this. Your private keys are still in your Trezor hardware wallet. This is a common set-up for hardware wallets. For example, you can do the same for the Cosmos ecosystem with a Keplr or Leap wallet.
You can now start interacting with a wallet or interface. However, you confirm all transactions in your Trezor.
Another hardware wallet on the market is SafePal. This wallet also accepts Stellar, already since March 2020. The following video shows you how to use ERC-20 tokens in Trezor Suite.
SatoshiPay is the company behind Solar Wallet. It’s a non-custodial wallet, made for Stellar, and it’s free. However, the team may add some enterprising features. They would charge for these features. For us, the average user, the wallet is free of charge.
The Solar Wallet has a nice set of features. So, let’s explore them. Solar offers, for example:
Furthermore, the wallet is available for the following platforms. As you can see, both web-based and mobile options.
The picture below shows the browser UI for Solar Wallet.
Source: Solar Wallet
We looked at three of the top wallets for the Stellar blockchain and the XLM token. This included two hardware wallets, Ledger and Trezor. However, it also included the Solar Wallet. This is a Stellar-specific non-custodial wallet.
The current XLM price is $0.088994. It has a market cap of $2.3 billion. The max and total supply of XLM tokens is 50 billion. Out of these, 26.7 billion currently circulate.
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