Stellar Lumens is one of the most often talked about projects on the crypto market. Known for its token’s ticker XLM, Stellar at one time managed to overtake competitors become the 4th most valuable cryptocurrency in the world. And while this mentioned rise can mostly be attributed to BCH going through a rather turbulent period of its existence, Stellar has legitimate reasons to be placed as high as it currently is.
Being a decentralized platform that looks to provide worldwide, cross-border payment service to underbanked, unbanked and even properly banked people of the world is one of those reasons.
Arguments why Stellar Lumens is a project that promises to connect financial institutions and individuals with speed, reliability, safety and affordability never seen before are many. Some community members point out that XLM is very similar to XRP in terms of centralization and question its claims to the throne of decentralized cross-border payments.
We won’t be covering any of these arguments in this article; today we’ll be focusing on how you, the average investor, can store your XLM tokens.
Naturally, you’ll need a wallet to store your XLM, just like with any cryptocurrency on the market. The tokens can be purchased through a very wide range of cryptocurrency exchanges.
Each of these exchanges will have a native wallet that can be used to store your XLM; however it’s not recommended to leave your cryptocurrency on a wallet whose private keys you don’t control.
This means that you’ll want a wallet whose private keys remain in your possession. You’ll also ideally want to have a wallet that will store your cryptocurrency in a safe way and offer features like password encryption, 2FA and PIN wallet locking.
Finally, ensuring that this wallet will keep getting support in the future – both development and customer – is something you should do as well. Thankfully, there are more than enough quality wallet solutions that offer XLM storing while having all or most of abovementioned features.
Stellar Lumens website offers 17 wallets that can be used to store their cryptocurrency XLM:
Stellar Desktop Client (renamed into Foxlet last April when the final, 4.0 version of the wallet was released) is the open-source desktop wallet of the Stellar Lumens project. Foxlet wallet can be installed on your Windows, Linux or Mac and is a Stellar-specific wallet, meaning that it can store only your XLM currency. The wallet does provide the option of depositing and withdrawing Chinese yuan (CNY) as well.
This wallet lets you encrypt your XLM wallet private key and then store it on your own computer, meaning that your wallet will be as safe as said computer. Key features of the wallet include:
- Free to download
- Login information stored locally
- Send and receive/ buy and sell XLM
- Add trust from known anchors
- Create your own asset
- Deposit/withdraw CNY
Foxlet is a good wallet that maybe lacks support for other currencies but offers a safe, Stellar-approved way of storing your XLM.
This lightweight solution offers you a simple way of managing your XLM funds. Use this lightweight client to send and receive lumens over the Stellar network over your desktop.
You can sign into the viewer either by imputing your private key into it or by generating a new key pair for a new account. Some might be uneasy with sharing/generating their private keys online but Stellar Account Viewer has an impeccable record when it comes to safety of said keys.
XLM Price Prediction for 2019
You can even use this viewer to generate a new wallet, write its private/public keys down on a piece of paper and store XLM on that public address. For a bit more interactivity and ability to manage your funds, the viewer can be connected to hardware wallets like Ledger Nano S or Trezor One/Model T.
Ledger Nano S is one of the most popular wallet solutions on the market. The wallet is a hardware solution which can store your Bitcoin, Ethereum and many other altcoins.
The wallet is the safest storing option for your cryptocurrency. The wallet has been a mainstay of the crypto community for a while now, with everyone from the average beginner to the experienced investor recommending it as one of the best storage solutions.
The device looks like a USB device and has an OLED screen which lets you check your transactions. It can be hooked up to a computer via a USB cable which lets the Ledger Nano S connect to the internet and lets you use the desktop Ledger Manager app.
The manager has a Stellar app pre-installed on it; this interface requires you to connect your Stellar Account Viewer to it in order to be able to see your XLM balance and manage your currency. Learn how to do so here. The device comes with 2FA, a secure PIN code and options to recover your wallet if something happens to your device.
Popular hardware solutions from Trezor, not listed on the Stellar website but they do offer XLM storage capabilities. These wallets are a bit more beefy and robust than Nano S but they offer rather similar features. You can connect your Stellar Account Viewer to this wallet through the Trezor Bridge software.
BlockEQ is a XLM-supporting wallet that can be downloaded for iOS, Android, Mac OS and Windows 10. It is a solution which allows you to maintain control of your private key by writing down the 24-word seed generator on a piece of paper. The desktop wallet also offers an advanced passphrase option that allows the user to add a second layer of protection on top of their 24 words.
The wallet has recently been acquired by the Canadian exchange Coinsquare. BlockEQ team will keep developing the wallet while operating as a subsidiary of the exchange platform and it remains unclear if there will be any integration between the two companies software.
The wallet lets you store XLM, as well as any token from the Stellar Network. BlockEQ is also the first native iOS wallet that supports trading on Stellar’s decentralized exchange SDEX. It includes additional options like PIN protected private key, ability to receive inflation every week, detailed balance summary, and exchange address recognition. Read the tutorial on how to set this wallet up here.
Atomic Wallet works as a decentralized wallet platform for custody-free, immutable, cross-chain, and transparent cryptocurrency trading. The trading takes place on the wallet’s decentralized atomic swap exchange. This exchange lets users operate without the need to register and perform annoying and privacy intruding KYC/AML verifications. Enabling anonymous cross-chain swaps with no third party risk, the wallet is a safe and private solution for managing your cryptocurrency. Atomic Wallet is capable of storing over 300 cryptocurrencies, including XLM.
The wallet offers several features, including the old fashioned instant exchange or direct cross-chain atomic swaps through two integrated exchanges, Changelly and Shapeshift. With low fees, wide variety of coins on offer and a well-tuned user interface, this wallet is available for your desktop Linux/Windows/Mac. Mobile wallets are expected to happen soon.
The Clic Wallet is an interesting addition to the Stellar’s wallet lineup. It is a peer-to-peer Stellar wallet that makes use of federated Stellar addresses, letting users send money like an email anywhere in the world. This is much simpler than having to memorize and type out the full wallet public key whenever you want to send funds.
This wallet includes a multi signature vault and a crypto-to-fiat mobile and e-commerce payment facility ClicPay. ClicPay allows its users to:
- Store XLM and other pre-approved Stellar tokens in an operating wallet as well as in a multi signature vault.
- Do payments or cash out in any local fiat currency using XLM or other approved tokens direct to a ClicPay enabled merchant
- Send fiat currency direct from XLM or other tokens to any Clic Banking wallet
Clic wallet is currently available on the Google Play Store, with an iPhone version under development. The wallet is being developed by Clic.world, a project looking to build a worldwide connected financial eco-system. Read more about this up and coming Stellar asset manager here.
A wallet solution created by Stronghold, a financial services platform that enables payments, trading, and USD reserves using products like Stronghold USD (platform’s stablecoin) and their platform APIs.
Creating a wallet will require you to register for a Stronghold account, after which you’ll be given a dedicated storage space for your currency. The wallet is open-source and lets you easily store or send your XLM tokens in less than a minute.
It’s a reliable solution which currently lets you store Bitcoin and Ethereum alongside XLM. It is a web wallet so take note that it can potentially be less safe than some of the other solutions on this list.
Other notable mentions
Stellar’s website mentions one Astral Wallet, a web-based Stellar wallet which lets you store XLM, receive payments from the inflation pool, create multiple accounts and additionally store MOBI and SLT tokens. The issue with this Astral is one similar to the one we had with Stronghold; being an online wallet, your funds are potentially less secure than with other solutions.
Stellarport is a lightweight, desktop, web-based portal to the Stellar network. It lets you view your wallet, send payments and trade on the decentralized exchange. It offers a smooth intuitive interface, real time trading/account monitoring, payments in any asset and flexible signing options (even with a hardware wallet). Its only “issue” is that it’s also an online wallet.
Smartlands is a security token issuing platform which helps projects with auditing, legal and other preparations required to launch their very own ICOs. It also comes with a neat built-in wallet which lets you control your balances, make payments, trade and even issue tokens. Of course, it also lets you store XLM. The wallet allows you to generate your keypair on the spot or enter your existing private key. Again, it is an online solution which comes with its own risks.
The website also lists the Blockchain Wallet for some reason, a popular online/mobile wallet with a solid pedigree and 15 million users behind it. However, this wallet only supports BTC, ETH and BCH at the moment.
Papaya Wallet is an interesting solution offering simple storage of XLM/several other cryptocurrencies like BTC, LTC, EURT etc. The wallet is a Telegram bot which functions as both multi-currency wallet and a peer-to-peer marketplace for cryptocurrency trading. It can be used on Windows, Linux, Mac, Android, iOS, FirefoxOS, Windows Mobile, aka any platform that supports Telegram. With federated addresses and cross-currency transfers supported, this one is a lightweight platform you can consider.
Firefly Wallet is another solution suggested by the Stellar website. Built on top of the Stellar Lumens network, Firefly is only one of the few XLM-suitable wallets that can be used on iOS devices. It also offers a native Firefly exchange and is apparently capable of completing transactions in 2.5 seconds. Being located in China and having its promo material riddled with spelling errors, this one didn’t earn the community favor either.
Saza Wallet is described as a desktop wallet that can be downloaded for your Windows/Mac platforms, Saza is meant to help its users manage their lumens and other assets. It’s a Nigerian-made wallet which offers several useful features, including federated addresses, multiple accounts, support for inflation pool and anchors. Saza has also stayed on the fringe in terms of community adoption.
StellarTerm is a desktop client (supports Windows, Mac, Linux) that can be used to access the Stellar Decentralized Exchange. It lets you send, receive and trade assets on the Stellar Network. It does require you to input an active wallet’s private (“secret”) key which needs to have at least 20 XLM on it. It enables easy, safe trading on the Stellar Network and comes with a list of anchors that’ll make your network using experience much simpler. StellarTerm is developed by Ultra Stellar, LLC, the same company that developed the LOBSTR wallet. That being said, the project hasn’t been very active on GitHub as of late.
Stellar Lumens’ website suggests several other wallets like Lobstr or Stargazer; we cannot recommend these storage solutions as the community reviews for these have been somewhat poor. Finally, Centaurus wallet is mentioned as well, but this one also has a lot of negative reviews on Google Play and hasn’t been updated since December of 2017.
This concludes the list of 17 wallets offered on the official Stellar wallets list. You’ll find other third party solutions like Guarda online but since these weren’t covered by the project themselves, we’ll leave it out of our list as well. The solutions we covered are more than enough to get you rolling and storing. Considering the fact that the markets are reaching the bottom of the current bear cycle, you don’t have many reasons not to buy and store your first XLM in one of the wallets from this list.
Stellar (XLM) Analysis: Price Approaching Crucial Support, Can Bulls Make It?
Stellar lumen price rallied significantly above $0.1300 and $0.1500. XLM price traded close to $0.1620 and recently corrected lower. On the downside, there are many important supports near $0.1180, $0.1110 and $0.1100 levels.
- Stellar lumen price failed to hold gains above $0.1500 and recently corrected lower.
- There is a crucial breakout pattern forming with resistance near $0.1320 on the 4-hours chart.
- XLM price could decline sharply towards $0.1100 before it starts a strong bullish wave.
Read: Trade at Vantage FX
Stellar Lumen Price Analysis (XLM To USD)
This week, there were neutral-to-bearish moves in bitcoin and altcoins such as Ethereum, ripple, cardano, bitcoin cash, EOS and litecoin. Earlier, Stellar rallied significantly above the $0.1200, $0.1300 and $0.15000 levels.
Click to Enlarge Chart
Looking at the 4-hours chart of XLM/USD, the pair towards the $0.1600 level and settled above the 25 simple moving average (4-hours). The pair formed a new 2019 high near the $0.1620 level and recently started a major downside correction.
The price traded below the $0.1400 support level and the 25 simple moving average (4-hours). The last swing high was formed at $0.1460 and the price is currently trading below $0.1300.
It traded below the 76.4% Fib retracement level of the upward wave from the $0.1174 low to $0.1460 high. An immediate support on the downside is near the $0.1174 swing low.
More importantly, there is a crucial breakout pattern forming with resistance near $0.1320 on the same chart. The triangle support is near $0.1180, below which there is a risk of more losses. The next key support is at $0.1110.
Besides, the 1.236 Fib extension level of the upward wave from the $0.1174 low to $0.1460 high is at $0.1106 to act as a support. However, the main support is near the $0.1100 level (the previous resistance area).
Overall, stellar lumen is currently under pressure below $0.1250, but there are many supports on the downside. If there is a downside thrust, XLM price is likely to find a strong buying interest near $0.1110 or $0.1100 in the coming sessions.
Why You Should Consider Investing in STELLAR (XLM)
Stellar (XLM) is a cryptocurrency, a digital asset, a medium of exchange for secure financial transactions. Cryptocurrencies use a decentralized control as opposed to common central banking systems. This decentralization is usually controlled by a distributed ledger technology like blockchain processes.
The well-known Bitcoin currency, first released in 2009, is considered as the first decentralized cryptocurrency. However, since its release, over 4.000 alternative cryptocurrencies have been created. Stellar (XLM) is one of them, and it may unveil more value than most current altcoins.
The internet is made up of network servers containing our date, websites and applications. Like the Internet, Stellar is a network of decentralized servers in many locations that power the distributed ledger. This ledger records every transaction in the system for people and companies alike.
A complete copy of the global ledger exists on each Stellar server. The network become more robust and secure with more servers as they communicate with each other to verify transactions and sync the ledger periodically. The ledger records your money as credit, issued by anchors.
Anchors act as bridges between a given currency and the Stellar network. Banks and payment processors are an example of real-world anchors. The credit is issued to your online account, just like a virtual wallet, in exchange for deposits. Anchors have to be trusted to hold your money. Credit can be sent and received between people of the network.
Stellar has a distributed exchange so you can also send USD credit using EUR credit between your friends. The network will do it at the lowest rate possible. They will then receive the money which can then use by withdrawing using an anchor supporting the currency.
One lumen (XLM) is a unit of digital currency, like a bitcoin. Lumens are the native asset of the Stellar network. While you can’t hold a lumen in your hand, they are essential to the Stellar network—they contribute to the ability to move money around the world and to conduct transactions between different currencies quickly and securely.
Now that you know how crypto works and what Stellar does differently, why should you consider starting investing in it?
Deloitte, one of the world’s largest financial consulting firms, set out to innovate in the core banking space with blockchain technologies. They had a prototype that reduced transaction costs by 40%. Each transaction resolved in 5 seconds. Eric Piscini said, “the client was amazed by how fast and how cheap those transactions were.” In other words, this partnership launches the cryptocurrency world to a new higher level.
Although many recall all the buzz, regarding the Bitcoin value crash and the consequent controversy, Stellar invests in a continuous development approach. The partnership between Stella Lumens and IBM runs deep. They’ve announced steady progress on a wide range of shared initiatives. IBM along with 12 other banks across the world have joined hands for the faster transaction of financial assets throughout the world.
What about predictions? Stellar has been maintaining a steady trend since the beginning of 2019 with the price of the coin peaking up to 0.13 USD in the April. Stellar’s recent listing on the coinbase platform is now making it more accessible to the traders, and hence a price surge of over 75% can be expected till the end of 2019 with the highest peaking to almost 0.15 USD.
Google and other big companies already predicted that in the next 2 years, the value of each XLM coin will fall between 10 USD and 100 USD. Nothing is certain as cryptocurrency come and go, however, Stellar seams to be the one to bet on when it comes to target a bigger future revenue in the near future.
Stellar’s Hour-Long Shutdown Shows That Stellar isn’t Completely Decentralized, What Does It Mean For Stellar Price Prediction
The Stellar network has done well enough since it’s launch. But as it’s always the case there isn’t any perfect Blockchain solution. The network is always evolving as startups look for ways to improve their protocol and facilitate better user experience. Now, the Stellar Blockchain reportedly hit a snag in recent days after reports came to light that the Blockchain network went offline on May 15 for about 67 minutes.
Stellar Lumens News Today: What Caused the Hour-Long Shutdown?
The hour-long halt doesn’t speak well of the network. Many claim the shut down occurred as a result of Stellar’s Consensus Protocol failing. But What really caused Stellar’s hour-long shutdown? The Stellar Development Foundation believes it wasn’t a failure of Stellar’s Consensus Algorithm. Via a blog post regarding Stellar’s shutdown, the Stellar Development Foundation remarked that the network failed because new nodes took a larger amount of consensus responsibility at an early stage.
Via the aforementioned blog post that was published after the reports of the incident came to light, the Stellar Development Foundation had this to say:
“The halt didn’t occur because Stellar’s Consensus Algorithm failed . In fact, the consensus worked as originally intended. For Stellar’s system, a temporary halt is often preferable to the confusion of a fork. However, the incident from yesterday shows that Stellar must look for better tooling around uptime. The network needs better status monitoring for its validators. Stellar has to ensure that it is easier to re-initiate a validator after it going down.”
Stellar Lumens Price Prediction: This Isn’t the First Time Stellar Was Accused of Not Being Completely Decentralized
As reports of the halt spread, analysts, enthusiasts and experts, all started to share their thoughts on Stellar with many criticizing the platform not being decentralization enough. The fact that a management team can put the network down or make it halt is enough to call the network a heavily centralized protocol.
This recent predicament with Stellar isn’t the first time the network has been accused of being a centrally controlling network. Earlier in the year, a group of researchers heavily criticized XLM and Stellar. Accusing the network of a lack of decentralization. According to the group all the nodes in Stellar can’t run the Stellar consensus protocol should only two nodes fail. The two nodes are operated and controlled by one organization, known as the Stellar Development Foundation.
Stellar Lumens Price Prediction: Many New Nodes Were Added to Stellar’s Network
However, the Stellar Development Foundation stated in its blog post regarding the shutdown, that even though it is accused of being over-centralized the opposite is the case. The halt occurred because many new nodes were included on the network. Then Stellar added that this situation caused the nodes to take more than enough consensus responsibility too early.
Many cryptocurrency enthusiasts have different ideas about what happened. Whatever the truth may be in any case, the biggest losers for such a situation is always the users. It is users who are affected with shutdowns, whether the network is if centralized or not decentralized enough. The Price of Stellar Lumens was trading at $0.132472 as of press time according to CoinMarketCap. The digital asset is down by 0.96% in the last 24 hours.
How Will This Affect The Price Of Stellar Lumens?
The price of XLM was not largely affected by the shutdown. It only saw a small loss of value and seems bullish in the short term. The network has lots of viable partnerships to push its value through the roof. The coin is occupying the ninth position on Coin Market cap.