Over 300 coins and tokens are supported by the multi-currency Stargazer wallet. It is the best choice for XLM coin because it enables users to keep their coins in cold storage while they are offline.
Are you looking for a safe location to store your XLM coins? Look at the Stargazer wallet, please. It is not only one of the XLM storage options that the Stellar team prefers, but it is also one of the most widely used by XLM holders. We’ll discover more about it in this Stargazer wallet evaluation.
What Exactly Is A Stargazer Wallet?
There aren’t many ways to hold Stellar Lumens at the moment, despite the fact that the XLM currency has been around since 2015. But one of the most popular options is Stargazer.
Both desktop and mobile platforms can access it; it runs on Android, Windows, and Mac OS. You should be aware that there isn’t an iOS app available right now. The desktop wallet is the only option if you want to use Stargazer on an Apple device.
The good news for crypto newcomers is that Stargazer was designed to be as simple and user-friendly as possible.
There are a number of reasons why Stargazer is so popular. Starting with the fact that it is open source software, anyone has the freedom to change it whenever they want. The program can be updated as required because it is open source.
Additionally, opening an account is simple, as is sending and receiving money, and a variety of accounts are supported. There are both individual/personal and shared accounts available.
Holders of XLM may issue, redeem, exchange, receive, and transfer currencies using this storage option. A QR code or a manual import of existing accounts are also options.
Background Of Stargazer Wallet
The Stargazer wallet project was started in 2016 as a beginner-friendly cryptocurrency wallet. It is used to access the Stellar network, which enables the sending and receiving of lumens, a cryptocurrency that is similar to Bitcoin. The wallet is an open-source project, which means that anyone can access its source code. The general public is free to add to the operation of the application. Does this tell you anything about its upkeep and support? Its GitHub page states that the most recent update was made in April 2019. That should be sufficient introduction given how straightforward the project and wallet are. There are a lot of positive and negative things to say about this wallet, but let’s start with the former.
Is Stargazer Wallet A Safe Place To Keep Money?
Most users think about safety when they are storing their cryptocurrency coins, and this is a very important thought. We are all aware of the numerous instances of coin theft and hacking of private keys that have been reported in the market. However, because the code used in this wallet is open source, most users are concerned about how secure their coins really are.
Because the network is encrypted and secure, the company has made sure that safety is a top priority. The only exception is when a private key must be decrypted, and this only happens when the key leaves the platform. The second exception is when a specific account is being exported without password protection.
Even though the Stellar Lumen has been around since 2015 and the XML coin has been around since that year, there are currently not many ways to store them. The Stargazer has become one of the most well-liked options on the market, which is good news.
Windows, Android, and Mac OS all support the wallet, which was created to work on desktop and mobile devices alike. You should be aware, though, that no iOS application has yet been created. In order to use the wallet, you must use the desktop wallet option if you are an Apple customer.
With the exception of decryption during account exports or when password protection is not available, the entire network is encrypted and secure. All transactions go through a thorough screening process before being signed and submitted.
Security Of Stargazer Wallet
A cryptocurrency wallet’s security must be top-notch. Wouldn’t losing access to your hard-earned cash make you wish you had stayed with your traditional bank? The security of the wallet is the only issue that Stargazer users seem to be unhappy with, as we will see later in the post, but we won’t believe them.
Stargazer gains from open source development’s scrutiny in addition to the security benefits that blockchain technology offers. Some contend that being open source increases trustworthiness without increasing security, but let’s avoid getting into that academic debate.
In the event that something goes wrong, the wallet also has a special feature for recovering your account. Recall the security check you performed during registration? So, if you for some reason lose access, that should help you get your account back. Basically, the test consists of a list of twenty-four words in a specific order. You can always get to your money as long as you have this information recorded somewhere. For many wallets, your valuable coins are lost if you forget your password or another method of accessing your account.
How To Setting Up Stargazer?
Download the installation file from getstargazer.com for the desktop versions. You can download the sources from https: if you are an experienced user.//github.com/future-tense/stargazer and build it yourself.
Do a search for “Stargazer Stellar Wallet” in the Android app.” It might not be the top result because of its poor PlayStore ratings; instead, you might see several recommendations that are similar. Locate the piece written by “Johan Stén” if you’re not sure which one to pick.”
Stargazer is simple to set up, and the installation procedure is the same across all platforms. You read the end-user license agreement after installation, then move on to making a personal account. However, since creating an account is what a beginner would do, let’s say you decide against importing from a secret key or seed phrase. You only need to create your account name and finish the security verification check to complete the setup. The procedure is, in general, fairly simple.
By the way, if you already have a Stargazer account, installing the desktop application couldn’t be simpler since you could import that from a QR code produced by another application.
After the account is created, you must send it 1 XLM to activate it. Possibly a little tricky is this section. Your Stargazer wallet will only accept lumens, so you will need to locate an exchange that can convert dollars or another currency to lumens.
As soon as your account is operational, you must keep a minimum balance of 20 XLM. Since you are permitted to withdraw up to a balance of 1 XLM, this shouldn’t be an issue. However, if you are eager to engage in lumen transactions and are a little determined, the Stargazer wallet will get you going quickly.