Stellar is a decentralized protocol that enables money to be sent anywhere ter the world, to anyone, free and instantly, te any currency.
Stellar coins represent value on the network. They are abbreviated spil XLM or STR depending on different exchanges.
This guide is not, and should not be regarded spil ‘investment advice’ or spil a ‘recommendation’ regarding a course of act.
Note: Pictures can be clicked to see a larger version. If you’re confused by any terms used, a glossary can be found here.
Very first wij need to set up a wallet to store the Stellar Lumens coins you’re about to buy.
Wij’re going to assume you’re working on a desktop/laptop and so will use a desktop wallet (other wallet options available here if not).
Go to the Stellar Wallet Github. This is where this open source project posts their latest wallet installation files.
Choose the download that works for your rekentuig (for example, StellarDesktopWin64-v3.0.zip will work on a Windows 64-bit pc).
Unzip the downloaded files and place the folder somewhere safe and handy- for example, your desktop.
Run the wallet executable opstopping (on windows it’s called StellarWallet.exe).
Your wallet will open.
Click ‘Create Fresh Account’.
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Then ‘Create Empty Account’.
You will asked to name and save your fresh wallet verkeersopstopping. Give it an visible name, for example ‘my_stellar_wallet’.
Now you need to inject a password to encrypt your wallet verkeersopstopping.
Come in a password that would be hard to guess (but which you won’t leave behind!).
Note: if you leave behind this password you could lose access to your coins.
Your fresh wallet opstopping will now be saved, spil whatever name you talent it. Go find it and back it up somewhere safe and private- because if te the future you lose or delete this opstopping you lose access to your wallet and coins.
Significant Note: Wij all hear of computers and phones being hacked. Websites running illicit code to steal passwords. Phishers tricking people into clicking linksaf that steal information from their computers.
Another line of defence to keep our coins from being siphoned out of our wallets is essential.
And that’s a hardware wallet.
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Hardware wallets butt-plug into your rekentuig like a USB stick, and they have one job- to be a firewall inbetween your Stellar Lumens and the outside world.
To do this, they encrypt the private keys to your cryptocurrency wallets so that no-one- not even you- can know them. That way only someone with physical access to your hardware wallet- and who also knows its password- has a chance to access and stir your coins.
Hardware wallets made by Ledger support the storage and sending of Stellar Lumens.
Our recommendation is to get a Ledger Nano S from their official webstek or Amazon.
Their Nano S makes it effortless to manage your coins- it’s klein and discreet, and wallet management is achieved through a puny LCD screen and two buttons.
Merienda you have your Ledger, here’s a step by step guide to setting it up.
You’re now given your fresh Stellar wallet address. Copy this down somewhere safe spil wij’ll need it soon.
You’re also given a Secret Key to your wallet. This permits anyone to open your wallet without knowing the password.
Copy this Secret Key down and keep it somewhere private and safe.
Merienda you’ve saved your Key, click ‘Yes, I saved my secret key’.
Now wij’ll purchase the popular cryptocurrency Ethereum, so that wij can exchange it for Stellar Lumens (if you already own Ethereum you can skip ahead).
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Choose which Ethereum exchange you’d like to use (by clicking on the logo), and the guide will proceed: