11 Best Stellar (XLM) Wallet Recommendations: Which One Do You Choose to Hold?

Bittime - Discover the 11 best Stellar (XLM) wallet recommendations to securely store and manage XLM. Choose the right XLM wallet for your transactions and needs!

Stellar (XLM) has grown to be one of the most popular cryptocurrencies, known for its ability to facilitate cross-border transactions at low fees and fast times.

However, choosing the right Stellar wallet is crucial to protecting your digital assets. A secure and easy-to-use XLM wallet will provide comfort and peace of mind when storing your Stellar coins.

In this article, we will discuss 11 recommendations for the best Stellar (XLM) wallets to choose from, based on security, ease of use, and additional features offered.

Before choosing a wallet, you should consider various factors, such as the level of security, supported platforms, and ease of use. Each wallet has advantages and disadvantages that suit the needs of different users, from beginners to experienced users.

Here are some of the best XLM wallets that can help you store Stellar Lumens (XLM) safely.

Also read: What is Stellar Lumens (XLM)?

1. Ledger Nano X: Maximum Security for Long-Term Storage

Wallet Type: Hardware

Price: £92

Platform: Desktop, iOS, Android

Ledger Nano X is the best choice for those who prioritize security. As a hardware wallet, it stores private keys offline, avoiding the risk of hacking that online wallets usually experience. Also, with CSPN certification, the security of this device is guaranteed. However, the quite expensive price is one of its drawbacks. Also, Ledger Nano X does not support XLM staking, making it unsuitable for those who want to utilize the feature.

2. Trust Wallet: A Popular Mobile App

Wallet Type: Mobile

Price: Free

Platform: Android, iOS

Trust Wallet is an easy-to-use XLM wallet app that is very popular among crypto users. It supports over 160,000 coins and tokens and allows users to securely store their private keys. However, Trust Wallet is only available on mobile devices and does not support Stellar-based tokens, which slightly limits its flexibility.

3. Trezor One: A Hard Wallet at an Affordable Price

Wallet Type: Hardware

Price: £42

Platform: Desktop, Android

Trezor One is a more affordable alternative compared to Ledger Nano X, while still providing an excellent level of security. Trezor supports over 1,000 coins and tokens, including XLM. 

The easy setup process is also a plus for beginners. Although Trezor One does not support some popular coins such as Cardano and XRP, it remains a solid choice for storing XLM safely.

Also read: Stellar (XLM) Facts and Key Points: Everything You Need to Know!

4. StellarTerm: Desktop Wallet for Stellar Transactions

Wallet Type: Stellar Desktop Client

Price: Free

Platform: Desktop, Web

StellarTerm allows users to make XLM transactions in a secure and decentralized manner. This wallet allows users to store their private keys and trade through DEX (Decentralized Exchange). 

Although highly secure, StellarTerm is not available for mobile phones and is more suitable for users who are familiar with trading and need immediate access to the Stellar market.

5. Lobstr: XLM Wallet for Everyday Users

Wallet Type: Mobile and Web

Price: Free

Platform: Mobile, Web

Lobstr is a great choice for users who want an XLM wallet with a simple and easy-to-use interface. The wallet supports XLM and other Stellar-based assets. Security features such as multi-signature make Lobstr safe enough to use, although staying connected to the internet increases potential risks.

6. Binance Exchange Wallet: Wallet of the Biggest Exchange

Wallet Type: Exchange

Price: Free

Platform: Desktop, Android, iOS

Binance Exchange Wallet is a practical choice for those who are active in buying and selling XLM. It allows the purchase of XLM using fiat and features instant conversion between coins. However, since private keys are stored by the exchange, the risk of hacking is higher, and this wallet is not ideal for long-term storage.

7. Exodus Wallet: Software Wallet with an Attractive Interface

Wallet Type: Software

Price: Free

Platform: Desktop, Mobile

Exodus Wallet is the best choice for those who love attractive graphical displays. With over 100 supported coins, including XLM, Exodus provides an in-app exchange feature that allows users to swap coins easily. However, since it does not support offline storage of private keys, Exodus is less secure if used for the long term.

Also read: Reasons for XLM Price Increase: Why Trending and Bullish Now?

8. Coinomi Wallet: Store XLM and Over 1,000 Other Coins

Wallet Type: Software

Price: Free

Platform: Desktop, Mobile

Coinomi is a software wallet that supports over 1,000 coins and tokens. With its high-level encryption and recovery phrase feature, Coinomi is safe enough to use. However, it is not ideal for long-term storage when compared to hardware wallets like Ledger or Trezor.

9. Atomic Wallet: Features XLM Purchase with Fiat

Wallet Type: Software

Price: Free

Platform: Desktop, Mobile

Atomic Wallet allows users to purchase and store XLM easily, while enjoying a high level of encrypted security. While this wallet offers a range of useful features, including support for over 500 digital assets, it does not support hardware storage for further security.

10. Solar Wallet: A User-Friendly XLM Wallet

Wallet Type: Mobile and Web

Price: Free

Platform: Desktop, Mobile

Solar Wallet is an excellent choice for those looking for an XLM wallet with a user-friendly interface and support for Stellar-based tokens. Multi-signature security makes this wallet safe enough for everyday use, although it is not ideal for long-term storage.

11. Blockchain Wallet: A Simple Choice for Beginners

Wallet Type: Web

Price: Free

Platform: Web, Mobile

Blockchain Wallet offers convenience for beginners who are just starting their journey in the crypto world. With high-level encryption, this wallet allows users to buy, store, and send XLM with ease. However, since private keys are stored on their servers, there is a greater risk of hacking.

Conclusion

Choosing the right Stellar (XLM) wallet is crucial to ensuring the safety of your assets. From hardware wallets such as Ledger Nano X and Trezor One to software wallets such as Exodus and Lobstr, each choice has advantages and disadvantages to suit various user needs. Make sure you choose an XLM wallet that offers the best combination of security, ease of use, and features you need.

FAQ

What is Stellar (XLM)?

Stellar (XLM) is a cryptocurrency used to facilitate cross-border transactions with low fees and fast times. XLM is designed to make it easier to exchange value between different currencies and support various blockchain-based applications.

What is the difference between hardware and software wallets?

Hardware wallets (such as Ledger Nano X and Trezor) store private keys offline, offering a higher level of security. While software wallets (such as Exodus and Lobstr) store private keys online, which is more accessible but carries a higher risk of hacking.

Should I choose a wallet that supports XLM staking?

If you're interested in generating passive income with XLM through staking, choose a wallet that supports the feature, such as a hardware wallet. However, if your main goal is security and long-term storage, staking may not be a top priority.

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Reference

bitcourier.co.uk, 7 Best Stellar Lumens (XLM) Wallets 2024, accessed on December 4, 2024.

coinjournal.net, The best Stellar wallet in 2024, accessed on December 4, 2024.

wallets.com, The Best Stellar Wallets, accessed on December 4, 2024.

Author: AWW