Managing your accounts in XLMwallet: adding, deleting and merging
A great thing about XLMwallet is that it lets you manage several Stellar accounts from one place. You can even merge several accounts together. In this post, we’ll tell you how to do that — and discuss Stellar accounts a bit.
If you’re new to Stellar, then perhaps you don’t know about accounts yet. With cryptocurrencies like Bitcoin or Ethereum, you normally install a wallet and it creates an address for you. If you want to switch to another wallet, you’ll get a new address there, and you’ll have to send your crypto from the original wallet to the new one. You can’t use your old address in the new wallet.
The beauty of Stellar is that it uses accounts that aren’t tied to a specific wallet. It’s a bit like a sim card: you can take it out of one phone and insert into another, and you’ll still have the same number.
The main part of each Stellar account is the key pair — public and private. The public key you get when you register an account is set as its ID and it can’t be changed. You can change the public key, but the old public key will still remain as the ID.
You can add a domain name to your account (in the Settings tab of the XLMwallet). So if you accept payments in lumens for your startup, for example, you should add the address of your company website. Everyone who sends you money will be able to look it up and see that it’s really you.
When you first register in XLMwallet, you can get a new key pair generated. Or you can import your existing account. Your XLM balance will be automatically displayed.
If you want to have more than one account, there are two ways to add a new one:
1) Stellar laboratory. The official site of Stellar has a set of tools such as Account Creator, Transaction Builder and Transaction Signer. In the Account Creator, you can generate a new keypair.
2) XMLwallet. There’s no need to bother with Stellar Laboratory if you already have XMLwallet. Go to the Settings tab and choose Accounts Directory. There you’ll see a list of your accounts. If you’ve just started using Stellar with our wallet, there will be just one account. Click on the gear icon and choose Add New from the menu. The wallet will generate a new key pair for you. You can also rename accounts to make them more recognizable. For example, you can have your own personal account and another one for your startup.
Merging accounts. It can happen that you’ll end up with more than one account and want to delete some of them. If the balance is zero, you can just choose Delete in the Accounts Directory settings. But if you have some lumens left in the old account, you can use the merge feature. Do the following:
- In your list of accounts, go to the one you want to get rid of.
- Click on Send.
- Enter the ID of your main account (where you want to send the lumens).
- Choose any amount that is bigger than the actual balance in the account.
- A prompt will appear saying “Are you sure you want to send all your XLM to this address?|
- Click Yes.
Congratulations, you’ve just merged your accounts! This is one of those features that make Stellar much more user-friendly that BTC or ETH, for example. You can’t just merge Bitcoin accounts or rename them.
XLMwallet has many other great features. For example, you can link the wallet to your email account — this will make it so much easier for people to send you money. In our next post we will tell you how to do that.
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