What Is Stellar Lumens (XLM)?
Stellar Lumens (XLM) is a decentralized cryptocurrency project founded by Jed McCaleb, co-founder of Ripple. It aims to facilitate cross-border transactions between digital and fiat currencies. Unlike traditional cryptocurrencies, 95% of XLM’s total supply (1 trillion) is distributed for free.
Step-by-Step Guide to Using Ledger Wallet for XLM
Storing XLM requires a secure wallet. Below is a simple tutorial for setting up a Ledger Wallet (web-based) for XLM:
1. Create a Wallet
- Visit the official Stellar Account Viewer:
👉 Stellar Account Viewer - Click "Generate" to create a new wallet.
- The system will generate a private key and public address.
⚠️ Important: Always securely backup your private key (never store it digitally or share it online).
2. Backup Your Wallet
- Write down the private key on paper and store it safely.
- Never expose your private key to unauthorized parties.
3. Access Your Wallet
- Enter your Secret Key (private key) to log in.
4. Activate Your Wallet
- Stellar requires at least 1 XLM to activate a wallet.
You can:
- Purchase XLM from an exchange and withdraw it to your wallet address.
- Ask a friend to send you 1 XLM for activation.
5. Send & Receive XLM
- Once activated, you can freely send and receive XLM.
FAQs
❓ Can I Use a Hardware Wallet for XLM?
Yes! Ledger Nano S/X supports XLM for enhanced security.
❓ Is Stellar Lumens (XLM) the Same as Ripple (XRP)?
No. While both focus on cross-border payments, XLM operates on an open network, whereas XRP is centralized.
❓ How Do I Recover a Lost Wallet?
If you lose your private key, recovery is impossible. Always keep backups offline.
❓ Where Can I Buy XLM?
Popular exchanges like Binance, Kraken, and Coinbase support XLM trading.
Key Takeaways
✅ Easy Setup: Ledger Wallet provides a user-friendly interface.
✅ Security First: Always backup your private key offline.
✅ Minimum Balance: Keep at least 1 XLM to maintain an active wallet.
For more crypto wallet guides, check out:
👉 Best Crypto Wallets 2025
Keywords: XLM, Stellar Lumens, Wallet Guide, Ledger Wallet, Cryptocurrency Storage
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