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Thanks to the super crypto rally of 2017, Stellar Lumens and many other cryptocurrencies have found themselves at the center of the investors. Like almost all blockchain products, the Stellar platform has a basis for decentralization and wants to connect global banks, payment systems and people while moving and making cross-border payments fast, without latency and above all safe.
Security is issued by the base system, the blockchain on which the platform depends for convenience. The Stellar platform is in direct competition with Ripple, an alternative payment system, and indeed, the original founder of Stellar, Jed McCaleb was one of the founders of Ripple Net. Since then Jed continues to draw a large amount of XRP – the currency native to the Ripple Network on a monthly basis through a seven-year work agreement.
You should now invest in Stellar, so you have to buy the native Lumens token, symbol of the XLM ticker. And because in the world of cryptocurrency the investor is his bank, where his investment is stored is paramount. While we recommend the purchase of XLMs in reliable exchanges that support fiat-crypto conversion like BitFinex, storing XLMs on the purse wallet is a bad idea. The exchanges contain large amounts of funds for investors, who often trade and as such are the honey container for hackers. This is why selecting a reliable and refutable portfolio, preferably a cold offline portfolio, is paramount.
In this post, I will guide you through the [5] best-looking XLM Stellar Lumens support portfolios controlled by the community. Our list gives priority to security, currency support, ease of use and price. These portfolios are:
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1. Ledger Nano S (High Security " Editor Choose ")
Primo, Ledger Nano S is a hardware portfolio. As mentioned above, the hardware portfolios are not connected to the network, which means they are not connected to the Internet, but that does not mean that the wallet will not work. Everything is constant, the Ledger Nano S is a cut above the rest, especially as regards the price, the number of coins supported (sometimes you may want to diversify) and the overall design. The portfolio is also research and safety is the reference point for the wallet designer.
This hardware portfolio is a product of Ledger Company, which was incorporated only two years ago. Initially, their first generation of wallets supported Bitcoin and a couple of high liquid coins such as ETH, but have since expanded and offer support for XLM .
Ledger Nano S has an O-LED screen that allows users to double-check their transaction at the touch of a button and via their USB cable, the wallet is compatible with Windows 7 and higher, Linux and Chrome OS. Furthermore, the wallet can coexist and even work in parallel with electrum, Copay, Mycelium and a couple of other popular hot wallets.
For security reasons, the Ledger Nano S can be easily synchronized with Stellar Account Viewer and the security of your private keys is guaranteed because they are not actually stored by the device but are securely tracked on the blockchain from which they operate via the device . Also, if you lose your device, the 24 words in the sentence can effectively act as your recovery keys when restoring your XLM holdings.
Ledger Nano S Rated # 1 best XLM wallet by our readers
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2. Stellar Desktop Client
As the name suggests, this is a hot / cold wallet, depending on your Internet connection, available for desktop users and another valid option if you want to store Stellar Lumens free. All you have to do is download and install the wallet for free.
Once the installation is complete, what should emerge is that the screen is well structured, intuitive and easy to use, a perfect feature for beginners.
There would be two options: either create a new portfolio or restore an old one. If you decide to create a new wallet, a password-protected text file is generated and stored on your computer. Whenever you want to access your wallet, the file must be activated. Basically, the file acts as a private key that gives you access to the stellar blockchain and that's why security is the key.
The only vulnerability that users might find with this portfolio is the state of the desktop computer on a security corner and if it is connected to the Internet. If connected, then it is up to the user to strengthen the security of the computer and, otherwise, the client is basically a cold wallet. The only thing that should be done is to prevent corruption of the text file.
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3. Stronghold Wallet
Just to be clear, Stronghold is an exchange portfolio. However, what makes this portfolio special is that the exchange, Stronghold, is performed on the stellar blockchain. It is described as the access ramp and the ramp of the Stellar network which represents Lumens (XLM) of the decentralized Stellar exchange, often called DEX.
As mentioned, exchanges are trading points where investors can exchange, buy or sell tokens and then store them on the spot or transfer them elsewhere. Thus, by virtue of the operation on the Stellar network, the Stronghold trading portfolio can be the safe and secure place to store the Lumens coins.
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4. StellarTerm
This is another web-based portfolio with a good reputation for security and a decentralized complete exchange of commercial customers working for merchants or investors. As a wallet, the security of your XLM coins is guaranteed because the wallet works on the Stellar network which, as we have said, houses this portfolio. Once the wallet is installed, users can directly generate public and private keys through their user-friendly and appealing user interface.
StellarTerm can run on Windows, Mac and Linux operating systems and therefore should not be a problem for users. The good thing about this portfolio is that private keys are stored locally on your client's computer.
In addition, the StellarTerm trading client supports a couple of other cryptocurrencies, which means that there is an investor option to convert part or all of their holdings into XLMs in other currencies or tokens they like. What is really special about StellarTerm is that it is easily compatible with Ledger Nano S, the hardware portfolio mentioned above.
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5. Lobster
If you prefer a lightweight and easy-to-use web wallet, Lobster should be at the top of the list. It is free to use and to start operations, the user is required to register via their email. The details of access to the Lobster web client will be sent to the user's e-mail address and then you will need to log in and create a stellar account.
Next, you can easily generate the seed retrieval phrase of the account and the public and private keys. It is the private key that must be kept safe and for this reason it is the investor who keeps the wallet in a safe way. If you wish to deposit your [XLM into the Lobster account the public keys provided should be the address of the recipient.
Conclusion
Of course, those are not the only portfolios available, there are tons out there. To summarize, the general rule when selecting your Stellar Lumens portfolio is security, supported coins and price. Wallets should be affordable and if you need to store the XLM coins out of the grid, you have to spend money, but do so only at authorized device dealers.
Ledger has its own distributors and it is important to follow their instructions as you could end up buying fake Ledger Nano S devices loaded with malware. Otherwise, a web portfolio can be a good cover. The only precaution you should take is a good antivirus and yes, app evaluations are important. Crouched for portfolios approved by the blockchain.
Ledger Nano S Voted # 1 best XLM wallet by our readers
