How to create a Stellar wallet

November 26, 2021 By admin 0

Stellar is considered a successful cryptocurrency in the Blockchain market with great potential in the crypto space from around late 2017 to early 2018. Many people flocked to invest in this coin.

What do you know about Stellar?

Stellar also known by other names like Stellar Lumens or XLM Coin is a quality open source payment technology. With many outstanding features, Stellar is gradually asserting its name and position in the hearts of customers.

Stellar is built on the premise of serving transactions in the global financial network for any audience. This promises to be a big step forward in the information technology industry associated with transactional finance.

Launched to the public in 2013 by Ripple co-founder Jed McCaleb, Stellar has quickly become a Ripple rival and has risen to the top of the world of transactions and payments.

It can be said that every transaction becomes more convenient and easier than ever if we create a Stellar wallet. You can complete transactions faster, cheaper and more reliable than any other traditional system.

In addition, a highlight that cannot be ignored of Stellar is the global transaction feature. Wherever you are, anywhere, you can make payments in a convenient, cross-border way with Stellar.

In addition, Stellar promotes global remittances that are extremely fast and cost-effective. Compared to familiar systems like Bitcoin, Stellar shortens the payment time up to 10-15 minutes and does not require complicated procedures.

With these outstanding advantages, Stellar deserves to become the most worthy payment technology platform today and far ahead of other competitors. Therefore, creating a Stellar wallet is extremely necessary, helping you to save maximum time and money transfer costs.

Stellar wallet creation method

To create a Stellar wallet, you only need to go through a few extremely simple and fast steps to get the expected results.

Step 1: Visit the website https://stellarterm.com/ and select Sign Up to create a new account.

Go to the stellar term website and Sign Up to create a new account

Step 2: Click on the box next to the words I agree with the Terms of use, understand the risks associated with cryptocurrencies and know that StellarTerm is not issue or endorse any asset on the Stellar Network.

Click on the box next to the words I agree…

This means that you have agreed to the terms of the Stellar Term website and accept the risks that may occur. Next, you choose the green button Generate Key Pair to create a Stellar wallet.

Step 3: After clicking Generate Key Pair, information about Stellar wallet will appear. Next, Copy the text under Secret Key. This is the only means of opening your Stellar wallet later.

Copy the text under Secret Key – the only means to open Stellar wallet

Step 4: Select Log in with key in the menu bar on the left side of the screen under the New Account selection bar. Then you Paste (Paste) the Secret Key just copied into the address bar. Click Log in.

Select Log in with key in the menu bar on the left side of the screen

Step 5: After you have successfully logged in to your Stellar wallet, your receiving wallet address will appear. You can use this receiving wallet address to Paste into websites or projects that need to use the receiving wallet to receive money.

At this step you will get a request from the website which says: To use your Stellar account, you must activate it by depositing at least 5 Lumens (XLM Coin) into your account. You can buy Lumens from an exchange and have them delivered to your address.

After successfully logging in to your Stellar wallet, your receiving wallet address will appear

Thus, you have successfully created a Stellar wallet through the Stellar Term website. From now on, you can complete international transactions very easily and efficiently using the Stellar wallet.

Buy XLM Coin

As mentioned above, to create a Stellar wallet, you are required to buy at least 5 XLM Coins. So where is a reliable address to buy and sell XLM Coin in local currency, USD?

Like other virtual currencies such as Bitcoin or Margin and Futures transactions, the international exchange will be the most reliable and reputable choice to buy XLM Coin. In case you want to find out about which floor, you can search for that floor in the table. You will receive detailed instructions on the exchange you are looking to trade for copper.

However, for international exchanges, you can only trade in USD, so local currencies will not be supported. This is the point you need to consider before buying XLM Coin at international exchanges.

We hope that the above information about Stellar and the method of creating a Stellar wallet will assist readers in using open payment technology fluently.