Looking for a way to store your XLM coins safely? Well, you should check out the Stargazer wallet. Not only is it one of the XLM storage options recommended by the Stellar team themselves, but it is one of the most popular choices among XLM holders. Let’s find out more about it in this Stargazer wallet review.
What Is The Stargazer Wallet?
Incredibly there aren’t too many ways to store Stellar Lumens right now, even though the XLM coin has been around since 2015. However, Stargazer is one of the most popular options.
It is available for either desktop or mobile devices and is supported on Android, Windows, and Mac OS. However, you should know that there is no iOS app for now. Apple users must use the desktop wallet if they want to use Stargazer.
The good news for crypto beginners is that Stargazer has been created to be as simple as possible and is exceptionally beginner friendly.
There are several features that have made Stargazer popular. First, it is an open source software, which means its code can be modified by anyone at any time. Being open source also allows the software to undergo necessary updates as and when required.
In addition, it is easy to create an account, simple to send and receive coins, and multiple accounts are also supported. Accounts can either be individual/personal or shared.
With this storage solution, XLM holders can issue, redeem, trade, receive, and send coins. Users can also import existing accounts either using a QR code or manually.
What Coins Does Stargazer Support?
As of now, the Stargazer wallet is built to store only Stellar Lumens.
It’s been developed as a secure and sophisticated way to send, receive, and trade XLM coins. Stellar has been developed with the aim to bank the unbanked and make financial services easily accessible to everyone around the world. As such, most storage options supporting XLM have been made keeping simplicity and mobile optimization in mind.
Is Stargazer Wallet Safe?
One of the most important concerns users have when storing cryptocurrency is safety. After all, there have been numerous instances of coins being stolen and private keys being hacked. Because the code of Stargazer is open source, users often worry about the safety of the coins stored in the wallet.
Although the Stargazer wallet has had a number of complaints regarding bugs that wouldn’t let users send or receive money, there hasn’t yet been any complaint about compromised security. The private keys are stored locally on the device, not on the network. This ensures that the solution is as safe as possible.
The whole network is completely encrypted and secure, with the only exception of decryption being when the private key leaves the platform when an account is being exported and when there is no password protection. All transactions go through a rigorous review process before being signed and submitted.
How To Use Stargazer Wallet?
- Trusted by thousands of XLM coin holders.
- Simply & easy to set up.
- Supported devices: desktop & mobile (Android only).
- Support operating systems: Mac OS, Windows, Linux & Android.
Store Your XLM Coins In One Of The Most Popular Wallets Now.
How To Get Started?
Once you go through the download link, you will be taken to the Stargazer site and can select the correct download for your device.
Once the file is downloaded, click on it and hit the ‘open’ button. Then just move the Stargazer to your applications folder.
If you try to open the application, you will get a message saying the app is from an unidentified developer. This is because like most crypto related apps, the Stargazer wallet is not in the official Apple store.
To open the app go to ‘System Preferences’ and select ‘Security & Privacy’. Then click the ‘Open Anyway’ button.
You will then be taken the terms of service. Hit ‘Accept’ to continue.
How To Setup Stargazer Wallet?
Once you have accepted the terms and conditions, you next want to ‘Create a Personal Account’. Select this option.
The create an account name and click ‘Next’.
You will then be asked to select a funding account. Most new Stargazer users will not have one yet. It’s fine to continue with this being selected as ‘none’.
You will then be shown 24 words, which make up your secret phase. These words should be written down on paper and stored securely. With this combination of words, you can reset and retrieve the funds in your wallet. Remember to never share the recovery words with anyone.
Stargazer will then ask you to tap each recovery word in order to ensure you have noted them down correctly. Hit the ‘next’ button when done.
You should now be set up and ready to go.
How To Send Or Receive Funds?
The home screen will look exceptionally basic whilst unactivated. To receive funds to the wallet, just hit the ‘Receive’ button.
You will then see your Stellar wallet ID and a QR code that can be used to send funds Stargazer. If you are sending XLM from a crypto exchange, use the ‘account ID’ to withdraw to your wallet.
To send funds, click the ‘send button on the homepage and enter the ‘account ID’ of the person you want to send XLM too and key in the number of coins to send. It really is that simple.
For more information on how to buy XLM (Stellar Lumens) in the first place, check out this article.
Stargazer Wallet Fees
There are no fees for signing up but the minimum balance is 20 XLM. You can withdraw up to 19 XLM, but keep 1 XLM in the account to keep your account activated.
Whether you are new to crypto or a pro, Stargazer is a trusted and secure way to store XLM coins on your desktop or on Android. There have been a few complaints in the past, with some users pointing out bugs. However, these all appear to have been fixed now.
The main drawback for us is that it doesn’t have an iOS app. This means that anyone who needs to send and receive XLM with an iPhone should look at the Lobstr wallet instead.
With Stargazer, you get a simple to use and lightweight XLM wallet. We love the simplicity of the Stargazer and certainly feel that XLM holders cannot go too far wrong using this storage solution.