What Are Stacks (STX) Wallets?

As the Stacks ecosystem continues to expand, finding a wallet that will help you interact effortlessly with all the dApps and assets built on this Layer 2 network is essential.

Read on to learn what Stacks wallets are and the factors to consider when choosing a Stacks wallet. 

What Is Stacks? 

Stacks is a smart contract layer linked with the Bitcoin blockchain, allowing developers to create a wide array of decentralized applications (dApps) that are secured by the world’s most robust blockchain.

The second-layer protocol leverages the base layer’s security through its Proof-of-Transfer (PoX) consensus mechanism. PoX is a consensus mechanism that taps into Bitcoin’s Proof-of-Work (PoW) by requiring Stacks miners to commit BTC in order to mine blocks. The committed BTC is then rewarded to another set of network participants known as stackers, who must lock their Stacks (STX) tokens for 2000 blocks, roughly two weeks. This process is called stacking STX, and it’s important because it contributes to the network’s economic security.

In addition to enhancing Bitcoin’s smart contract capabilities with the Clarity programming language, Stacks will now offer faster transaction confirmations due to the recently released Nakamoto upgrade. Users’ transactions will now be confirmed in seconds instead of ten minutes. 

What Is a Stacks Wallet? 

A Stacks wallet is a software or hardware device that allows you to store, manage, send, and receive STX tokens and other assets created on the Stacks network. 

Stacks wallets also enable you to interact with decentralized applications built on the Stacks network by connecting your wallet. Moreover, they are typically non-custodial, giving you complete control and ownership of your Stacks assets. 

A handful of Stacks wallets also enable you to stack STX directly within your wallet, enabling you to earn Bitcoin rewards by stacking STX. 

How to Choose a Stacks Wallet

Consider the following factors when selecting a Stacks wallet.

Available features

The best Stacks wallets have a long list of features, allowing you to conduct various actions in one place, such as buying, earning, tracking your portfolio value, and viewing your transaction history. 

Security

When searching for a Stacks wallet, look for a provider that enables you to set up PINs, two-factor authentication, and passwords to secure your assets. These options are essential since your assets are only as secure as your wallet. If security is not implemented properly, someone could access your wallet and steal your funds.

User experience

Your Stacks wallet should have an intuitive user interface that makes it easy to manage your Stacks assets and interact with dApps on the Stacks network.  

Self-custody

A self-custody or non-custodial Stacks wallet gives you 100% control over your private keys and funds. This is why the phrase “Not your keys, not your coins” is common in the Bitcoin space because it reminds you that non-custodial wallets are better than custodial ones. 

Fiat on-ramps

Fiat on-ramps are essential in crypto because they enable you to purchase digital assets easily with your bank account or bank cards. They remove entry barriers for newcomers and ensure you don’t have to leave your wallet to purchase crypto on an exchange. You should, therefore, not overlook this convenience when looking for a suitable Stacks wallet. 

dApp integrations 

Because the Stacks network hosts many dApps, you should look for a wallet that integrates with most of them. This will allow you to interact with different dApps from one place and explore the various products they offer. 

What is the Best Wallet for Stacks?

Based on the factors above and your personal preferences, you can find a Stacks wallet that will serve you well and boost your Bitcoin Web3 experience. 

If you prefer an all-around wallet, consider one that works on multiple devices. On the other hand, think about a wallet that offers cold storage if you’re planning to HODL Stacks assets in the long term.

Best Stacks Wallet for Android, iOS & Chrome

Xverse is arguably the best Stacks wallet for Android, iOS, and Chrome, enabling you to securely manage all your Stacks (STX) in one place. 

The Xverse Stacks wallet also connects seamlessly to all Stacks NFT marketplaces and decentralized exchanges (DEXs) and supports all Stacks-based token standards, such as SIP-10 and STX-20. 

What’s more, Xverse provides the Xverse Pool, allowing you to seamlessly stack STX to earn Bitcoin rewards directly within your wallet. 

The wallet is supported by multiple devices, giving you the flexibility to manage your Stacks assets on your mobile phones or computers. Moreover, each wallet version features the same clean and intuitive user interface, giving you the same experience whether you’re using a mobile device or a PC.

Best Stacks Wallet for Cold Storage 

Ledger is arguably the best Stacks wallet for cold storage and you can link it with your Xverse wallet in a few easy steps. 

This option is excellent because it allows you to store the Stacks assets you wish to HODL offline while still being able to trade other assets on-chain. Cold storage is crucial as it keeps digital assets safe from online attackers. 

Xverse: Your Gateway to the Stacks Ecosystem

Xverse is the market-leading Stacks wallet. It features a clean user interface and multiple features, allowing you to store and manage your Stacks assets with ease. 

The non-custodial wallet also supports BTC and Bitcoin-native assets, making it the gateway to the entire Bitcoin Web3 ecosystem.

‍Download Xverse here to securely store and manage all your Stacks assets. 

FAQs

Are Stacks wallets safe?

Stacks wallets are only safe if the appropriate security measures are implemented. The first security measure you must perform is backing up the seed phrase that gives you access to the Stacks assets stored on-chain. Next, create a strong password or PIN for your wallet and phone to prevent anyone from accessing your assets if you lose or misplace your device.