Stellar is a decentralized payment network aims at connecting people, banks and payment systems. It was created to provide the solution to the cross-border payment difficulties in a faster and reliable way. Lumen (XLM) is the asset of the stellar network.
If you are interested in Cryptocurrencies and is planning to buy Stellar then you must have a wallet to store them. Let us discuss the most popular wallets that are in use today.
Ledger Nano S (hardware wallet)
It is a hardware wallet that supports Stellar Lumen, it is one of the secure storage options. It is important to store your stellar Lumen in hardware wallet if you have a significant number of them. Another advantage of choosing this wallet is it supports a wide variety of Cryptocurrencies. Here backup and recovery is simple, has a strong development team and a good customer support team.
It is one of the secure wallets that is in use today not only for Stellar Lumen but also for other digital currencies.
Foxlet (desktop Wallet)
It is an open source desktop wallet that s designed primarily to store XLM. It is not a versatile wallet as it cannot store any other Cryptocurrencies but is totally focused on storing XLM. It encrypts your XLM and stores it on your computer. You don’t need to do any registration to use this and the transactions are also signed offline. It is simple easy to use a wallet and can store the Chinese Yuan and Japanese Yen.
Stargazer (desktop and mobile wallet)
This wallet is supported by both desktop and mobile. This wallet can be used even by new users to store and receive coins.
Lobster (Mobile wallet)
It can be used from your mobile to store your XLM. It is also a simple wallet that is used by new users. It is available for both Android and iOS version. It has fingerprint support, secure PIN protection, and 2-factor authentications.
Astral (Web Wallet)
It is a web-based wallet that can be accessed from anywhere. The major drawback of any web wallet is it is not so secure.
There are so many options to store your XLM, some of the options are more secure than the other. Hardware wallet is always a recommended option as it is more secure than all other types of wallet.
Another alternative that can be used is Paper wallet, it is a secure choice but itself wallet needs to be kept securely.