The Stellar Online Wallet is a high tech electronic cash vault that can be used to hold different types of digital currencies such as the US Dollar, the Euro, the Japanese Yen and the British Pound. It offers the most secure online banking possible with two-factor authentication, which means you have to use a phone to access your account instead of having to type in a password each time you wish to make a withdrawal or a transfer. It also features a private key feature which gives the user a secret private key rather than their account number and it is this key that can be associated with multiple currencies. This means that each time you make a transaction, your Stellar Online Wallet sends an encrypted request to the Stellar Web Wallet’s servers where a public address and a digital signature are made from.
The private key feature of the Stellar online wallet is a feature that can only really be fully appreciated by those who understand how the modern banking system works. For example, if you were to withdraw money from your account and send it to a friend then you would need their personal digital key, which only they could have. However, Stellar Lumens allows you to create a new public key, which is attached to your account, which means that anybody who happens to have the same digital key will also be able to access your funds. There are many benefits to this functionality and one of them is that if someone does manage to steal your Stellar Lumens wallet then they would not be able to access any of your funds because your private key would have been attached to them as well.
Another benefit of the Stellar online wallet compared to some other web wallets is the ease of use. It is very straightforward to download the software and install it on your computer so you can start storing your lens. You don’t even have to download any special files because the Stellar Web Wallet will walk you through it step by step. Once you have installed the interface you will be able to see the main window and from there you have a choice of sending and receiving lumens through the internet or through your phone. This is the easiest way to go about sending humans since it is the most convenient way that is available on the market.