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Stellar Wallets Review

Stellar Wallets


(0 reviews)
Site Rank: 4

Stellar.org lists five desktop wallets which work with it on its website. These include BlockEQ, Foxlet, Ledger Nano S, Stargazer, and StellarTerm.

Ledger Nano S is the only hardware wallet on the above list. Hardware wallets are considered the most secure of the different types of wallets. Hardware wallets have the private key listed on the device itself and also have a recovery phrase for users in case the wallet gets lost or is stolen. Rating is five stars.

BlockEQ also enables the user to control their private key and have a recover seed to regain access back to their account. One of the main advantages of BlockEQ is it enables users to integrate with Stellar’s decentralized exchange to send, receive, and trade the Stellar token XLM and other assets. Rating is four stars.

Foxlet is an open source wallet which enables users to send, receive, and trade XLM also. One of the key features is users can also deposit and withdraw CNY. The private key can be stored and encrypted locally on the user's computer. Login information is also stored locally meaning no sensitive information leaves the users device. Users can also create their own asset with this wallet. Rating is four stars.

Stargazer is both a desktop and Android wallet. The wallet has multi-signature functionality and also enables users to generate multiple addresses. It supports multiple assets enabling users to send, receive, and store. Rating is four stars.

Stellarterm is listed under Stellar’s desktop wallets but is actually a web-based wallet. Web-based wallets are some of the most insecure with the users private key being often stored on the servers of a third-party and sometimes not encrypted. One of the benefits of a hot wallet which is connected to the internet is users can see live exchange rates and trade assets.