Xverse wallet

Xverse wallets are a type of wallet that allows you to buy, sell, transfer and store bitcoin and stacks. Alongside all these general features this wallet allows you to buy ordinals (individual numbered sats) directly from marketplaces such as Magic Eden by connecting your wallet, view them and inscribe them directly from your wallet.

Another special feature of Xverse wallets is the ability to stack bitcoin. This means locking STX (stacks) tokens for a short period of time, just 2 weeks, this supports the security of the network and in return you earn bitcoin. STX are automatically entered into the next 2-week cycle unless you withdraw them manually meaning there is minimum effort required to earn bitcoin.

Xverse is a non-custodial wallet. This means increased security compared to custodial wallets which store your seed phrase for you as holding your own seed phrase minimises the risk of a data breach. Xverse wallets also support Ledger hardware devices also offering increased security. When your wallet is online and logged in your seed phrase is encrypted on the device you are using by your password. However, if you have malware on your device or you get hacked there is a possibility that your seed phrase and password can be stolen. Xverse’s Ledger compatibility means that when not in use your private key (seed phrase) is stored offline on a hardware drive meaning it cannot be accessed, similarly to how you cannot access photos on a USB stick if it is not connected to your device. Although this does not guarantee security as there is always a risk when your wallet is online and connected it reduces the risk of anyone accessing your assets when your wallet is not connected. Another factor to consider is the importance of remembering your seed phrase, hardware devices store your seed phrase so it can be easy to forget it but should the hardware get lost or become damaged the seed phrase is the only way to regain access to your wallet and subsequently your assets.

See also:

How to set up an Xverse wallet

How to disconnect an Xverse wallet

How to reinstall an Xverse wallet