Stellar (XLM), according to their website, is “a platform that connects banks, payments (sic) systems, and people.” It is meant to “move money quickly, reliably, and at almost no cost”. This hybrid blockchain [ie: The combination of public and private blockchain] is decentralized and completely open-source, so anyone can use it. The Stellar network was formed by Jed McCaleb, co-founder of Ripple, and Joyce Kim. They forked off from the Ripple protocol and founded The Stellar Development Foundation. Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency.
Manage your Stellar tokens with your Ledger Nano S device by installing the Stellar app on your device and by using the Stellar account viewer. The Stellar account viewer is developed and supported by the Stellar community. Please reach out to them on Reddit if you need help.
- A Ledger Nano S with the latest firmware version.
- The Google Chrome, Opera or Chromium browser. Other browsers are not supported.
Install the Stellar app
- Open the Manager in Ledger Live.
- Connect and unlock your Ledger Nano S.
- If asked, allow the manager on your device by pressing the right button.
- Find Stellar in the app catalog.
- Click the Install button of the app.
- An installation window appears.
- Your device will display Processing...
- The app installation is confirmed.
Open Stellar account viewer
- Open the Stellar account viewer.
- Open the Stellar app on your device. The button in the Connect Ledger Nano S section becomes blue when your device is detected.
- Click on Sign in with Ledger.
Use the Stellar account viewer
Receive Lumen (XLM)
To receive, share your Stellar public key with the person or service that wants to send. The account must first receive a minimum of 1 Lumen (XLM) to be created.
Send Lumen (XLM)
- To send, enter the recipient address in the To field in the Send lumens section.
- Enter the amount to send.
- Add a memo if you're depositing to an exchange. This is required for most exchanges.
- Click Send lumens. The transaction details will be displayed for verification.
- Click Submit transaction to verify and sign it on the Ledger device. The transaction details will be displayed one by one on your device.
- Press the right button on your device to confirm each of the following:
- confirm transaction
- transaction type
- amount and token
- destination address
- transaction fee
After confirmation, the transaction will be securely signed on your device and broadcasted to the network.
Deposit to exchange
Most exchanges require you to enter a memo to identify your account when depositing. Carefully read the deposit instructions of your exchange.