Security of your funds on StellarTerm

Custody of funds and public ledger

StellarTerm is a useful gateway to the Stellar Decentralized Exchange, which does not operate the Stellar network. StellarTerm is unable to control the actions of others on the Stellar network.

When using StellarTerm, you are directly communicating with the Horizon Stellar API.

Stellar is a public ledger. Data about your transactions and account is available for viewing using the publicly available tools. 

The funds of our users are NOT actually kept "inside" StellarTerm. Your funds exist on the Stellar network. StellarTerm is just a helpful tool that helps users apply their secret keys to make transactions on the network. 

StellarTerm is not a custodian of your assets. We do not store any tokens, cryptoassets, or secret keys on your behalf.

Security of your secret key

When using StellarTerm. the secret key of your Stellar account is stored in an encrypted form on the device (inside a browser) and never leaves it.

In both the web and desktop versions, your secret keys are never sent to any server. StellarTerm developers never see your private keys.

The StellarTerm software signs transactions locally and helps you publish them on the Stellar Network.

Your secret key is deleted from the secure storage once you log out from the account, refresh or exit the page. This allows you to be sure that your funds are safe and can’t be accessed by someone other than you.

Please pay attention that your Secret key is extremely sensitive, and whoever has access to it can control your Stellar account and move lumens without your authorization.

You are solely responsible for your own security including keeping your account secret keys safe and backed up.

Make sure to configure the Secret phrase to protect yourself from phishing attacks.  

Enable Multisig protection

Multisig is one of the best ways of keeping your account secure. It guarantees the protection of your Stellar wallet, even if your main secret key has been compromised.

StellarTerm fully supports multisignature through the integration with a LOBSTR Vault transaction signer app and also works with other multisig solutions, providing an XDR for external signing.

For the best combination of security and flexibility, we advise setting up a 2 out of 3 multisig.

This configuration increases the security of your Stellar wallet since an attacker would need to gain access to 2 keys, instead of 1. It also allows some level of fault tolerance - you might lose access to one of your keys but still have control over your funds.

Learn more about how to enable multisig for your Stellar wallet here.

Hardware wallets support

A hardware wallet is a cryptocurrency wallet that stores private keys in a secure hardware device. It provides full isolation between the private keys and your computer or smartphone accessing the network and guarantees the safety of your funds. 

StellarTerm features the full support of Ledger and Trezor hardware wallets for those opting for additional security of crypto assets.

You can use your hardware wallets to log in, manage your Stellar account, trade on SDEX, send payments and make other transactions on the network.

IMPORTANT!

Use caution and never share your private keys with any dubious third-party services. Always carefully check the browser URL!

Note that our ONLY official Twitter account is @StellarTerm (https://twitter.com/StellarTerm).

Make sure to report any scam activities and websites claiming to be associated with StellarTerm at support@stellarterm.com as soon as possible.