Stargazer Wallet Review ▷ Is It the Right Choice for Your Stellar (XLM) Coins?
Are you looking for a way to keep your XLM coins safe? Well you should check out the Stargazer wallet. Not only is it one of the XLM storage options recommended by the Stellar team itself, but it's also one of the most popular 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 Star Lumens at the moment, even though the XLM coin has been around since 2015. However, the stargazer is one of the most popular options.
It's available for both desktop and mobile devices and is supported on Android, Windows, and Mac OS. However, you should know that there is no iOS app at the moment. Apple users must use the desktop wallet if they want to use Stargazer.
The good news for crypto beginners is that Stargazer has been designed to be as simple as possible and especially beginner-friendly.
There are several features that made Stargazer popular. First, it's open source software, meaning anyone can change its code at any time. As open source, the software can also carry out necessary updates if necessary.
In addition, it is easy to create an account, send and receive coins easily, and it supports multiple accounts as well. Accounts can either be used individually / personally or shared.
With this storage solution, XLM holders can spend, redeem, trade, receive and send coins. Users can also import existing accounts either via a QR code or manually.
Which coins does Stargazer support?
As of now, the Stargazer wallet is built in such a way that it only stores star lumens.
It was designed as a secure and sophisticated way to send, receive and trade XLM coins. Stellar was developed with the aim of financing the non-bank loans and making financial services easily accessible to everyone around the world. As such, most of the storage options that support XLM have been designed with simplicity and mobile optimization in mind.
Is the Stargazer wallet safe?
One of the top concerns for users when it comes to storing cryptocurrencies is security. Finally, there have been numerous cases of coin theft and private key hacking. Since Stargazer's code is open source, users often worry about the security of the coins stored in the wallet.
Although the Stargazer wallet had a number of complaints about bugs that would not allow users to send or receive money, there have been no complaints about security breaches. The private keys are stored locally on the device and not in the network. This will ensure that the solution is as secure as possible.
The entire network is fully encrypted and secure, with the only exception of decryption when the private key leaves the platform, when an account is exported and when there is no password protection. All transactions go through a rigorous review process before being signed and submitted.
How do you use the Stargazer Wallet?
- Trusted by thousands of XLM coin holders.
- Simple and straightforward to set up.
- Supported devices: Desktop & Mobile (Android only).
- Supports operating systems: Mac OS, Windows, Linux & Android.
How to start
Once you've gone through the download link, you'll be taken to the Stargazer page and can choose 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 application folder.
When you try to open the application, you will get a message that the application 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 "Anyway Open" button.
You will then receive the general terms and conditions. Click on 'Accept' to continue.
How do you set up Stargazer Wallet?
Once you have accepted the terms and conditions, the next thing you will want to do is 'Create a Personal Account'. Choose this option.
Create an account name and click 'Next'.
You will then be asked to select a financial account. Most new Stargazer users won't have one yet. It is okay to proceed with selecting this as "none".
You will then be shown 24 words that make up your secret phase. These words should be written down on paper and kept in a safe place. This combination of words can be used to reset and retrieve the money in your wallet. Remember to never share the words of recovery with anyone.
Stargazer will then ask you to tap each recovery word to make sure you wrote it down correctly. Hit the "next" button when you're done.
You should now be set up and ready to use.
How can you send or receive funds?
The home screen looks exceptionally simple when not activated. To get cash for the wallet, just hit the "Get" button.
You will then see your Stellar Wallet ID and a QR code that you can use to send funds to Stargazer. When sending XLM from a crypto exchange, use the "Account ID" to deposit funds into your wallet.
To send money, click the "Send" button on the homepage and enter the "Account ID" of the person you want to send XLM as well and enter the number of coins to be sent. It is really that easy.
For more information on how to even buy XLM (Stellar Lumens), check out this article.
Stargazer Wallet Fees
There are no registration fees, but the minimum balance is 20 XLM. You can withdraw up to 19 XLMs but keep 1 XLM on the account to keep your account activated.
Whether you are new to crypto or a pro, Stargazer is a reliable and secure way to store XLM coins on your desktop or on Android. There have been some complaints in the past with some users pointing out bugs. However, these all seem to have been resolved by now.
The main disadvantage for us is that there is no iOS application. That means anyone who needs to send and receive XLM with an iPhone will instead get the Lobstr wallet should look at.
With Stargazer you get an easy to use and lightweight XLM wallet. We love the simplicity of the Stargazer and believe that XLM holders can't go too far wrong with this storage solution.