What is an XLM wallet?
Sending and receiving XLM requires a wallet. A Stellar Lumens wallet will provide you with the ability to access your funds and sign transactions with a combination of both your private and public keys. Choosing the right wallet will depend on a number of factors, including your cryptocurrency experience and how much you expect to invest.
How easy is it to store XLM (Stellar Lumens) in a wallet?
Each XLM wallet type has its own pros and cons. You need to choose the one that suits you best. If you are a first-time user and looking to buy or store a relatively small amount of Stellar Lumens, then a mobile or web wallet will give you a good mix between safety and user-friendliness. A more experienced user may choose a hardware wallet.
The Uphold XLM wallet is not only a convenient and safe way to store your XLM but also allows you to seamlessly trade between cryptocurrencies, local currencies, and metals. The Uphold wallet is available on iOS, Android, and web.
Types of wallets for XLM
Here are the most common types of XLM wallet for storing your crypto:
Hardware XLM Wallet
These cold-storage wallets are dedicated USB devices designed to send and store cryptocurrencies offline, which makes malicious attacks almost impossible. It is important to remember that hardware wallets can be expensive for casual investors. However, they provide the best combination of security and usability, and are usually regarded as the top choice among long-term investors.
Web XLM Wallet
Most beginners may find web wallets a perfect choice, as they don’t require any software installation. While only an internet browser is needed, they require private keys to be stored on an online server, controlled by a third party. Potential exposure to hackers and third parties is the definition of a hot wallet.
Uphold XLM wallets
Using the Uphold XLM wallet will provide you with a safe, convenient, alternative way to store your funds. Uphold takes security extremely seriously, incorporating the highest industry standards to protect your funds at all times, assisted by an all-star customer support team. We hold your keys so you don’t have to worry about custody. You also have 24/7 customer support. Around 90% of our crypto is held in cold storage.
Your Uphold XLM wallet can also be used to make payments to vendors, send money to friends, and instantly convert your Stellar Lumens for local currencies and other cryptocurrencies. It’s a safe and secure way to use and transfer funds.