Become your own bank by holding USDC on Stellar. USD Coin (USDC) is a digital currency that is fully backed by U.S. dollar assets. Stellar Network is probably the cheapest and most reliable blockchain for sending crypto. Recently, Stellar added USDC coin to its blockchain.
After we receive the Wealth Transfer it would be wise to keep some of the proceeds in USDC. The other stablecoin -USDT — has many prophecies that it may fail in the future. So far, I found Lobstr Wallet to be the best option for holding USDC on Stellar. Lobstr also has built in Moneygram feature that allows you to deposit or withdraw cash from your crypto wallet at any MoneyGram location (CVS, etc.) for free. So in theory, if banks shut down, you can still go to CVS/MoneyGram and deposit/withdraw cash from your Lobstr wallet that holds USDC. I also saw a video that seems to imply we can create buy limit/sell limit orders in Lobstr. See links below.
https://lobstr.co/ — The Lobstr website includes link for Iphone and Android mobile app
https://apps.apple.com/us/app/lobstr-stellar-lumens-wallet/id1404357892
https://play.google.com/store/apps/details?id=com.lobstr.client
Here is my referral code in case you need it: DWOAGDMFT
You don’t need to use it. But if you do, Lobstr will give you 1,000 AQUA (Lobstr crypto) after you buy $25 worth of XLM in the wallet. I haven’t bought anything in the wallet. I just use it to hold my XLM and USDC I transferred from the Exchanges.
Currently Binance and Coinbase (I haven’t checked other exchanges) allow sending USDC on Stellar — I have tried both, and the transfer completed in under 5 seconds. Binance charges one dollar fee to withdraw USDC on Stellar. Coinbase doesn’t charge anything. To transfer USDC from your Lobstr wallet to another address is basically free — I paid 0.00004 fee (4 zeroes) to transfer USDC back to Coinbase. I have also been researching other wallets that can store USDC on Stellar. Unfortunately, not many options out there. Most wallets don’t even have the option for USDC Stellar. However, Trust Wallet does have USDC Stellar listed, but doesn’t seem to work because there is no way to set a trustline inside of Trust Wallet. I have contacted Trust Wallet support to see if they can provide an explanation.
Typically you can send XLM or whatever crypto to a brand new wallet, and the first transaction will activate that wallet. However, it doesn’t work that way with USDC on Stellar. You first have to enable USDC by creating a trustline. I tried sending USDC from Coinbase to Trust Wallet and Coinbase gave me an error: “please enter a trustline enabled stellar address”. But Lobstr Wallet works great — and lets you set a trustline.
Typically you have to transfer/deposit some XLM (put in at least a dollar’s worth ~ 10 xlm) to the Lobstr wallet to activate. Then you would go into assets and add USDC (centre.io) asset. After you add it, it will use a small amount of XLM (0.5 I believe) to activate the trustline for USDC. At this point you can now use the USDC wallet and can transfer USDC from other places into Lobstr. I figured out a trick to bypass this. When you go into settings of Lobstr it has a feature called Cash In / Cash Out with Moneygram. I think I clicked Cash in, and it said your wallet isn’t activated, it then went ahead and activated both XLM and USDC for free. I then transferred USDC from Coinbase and Binance into Lobstr, and it completed in under 5 seconds.
I also read a statement by Stellar that Ledger wallet has USDC on Stellar. I don’t have a Ledger, but if anyone here does, and can verify, please comment to let us all know. I looked up supported Assets on Ledger Live, and USDC on Stellar is not listed there.
Here is a prophecy from Christina about using USDC after the Wealth Transfer.
https://rumble.com/v1mx5sd-prophetic-word-must-watch.-what-to-exchange-your-shiba-for-and-new-currency.html
Prophetic Word: Must watch. What to exchange your Shiba for and new currency
10/6/22 Christianos Servant Of God
12:00 — The dollar will rise and fall
12:30 — I see dollar coins — this is the future
USD dollar coin (USDC ?)… This is the future… I got impression it will be backed by gold
https://ultrastellar.com/
Our products: LOBSTR, StellarX, LOBSTR Vault, StellarTerm
https://www.stellarx.com/
StellarX is a powerful decentralized trading platform (DEX) built on the Stellar network. Connect your wallet and start trading every asset class imaginable in seconds. Access AMMs to earn passive income, on & off ramp with ease.
StellarX supports connecting to it with Ledger Live, Lobstr wallet, or User name/password
https://twitter.com/lobstr
https://lobstrco.medium.com/
https://stellar.org/blog/ecosystem/ledger-live-integrates-usdc-on-stellar
Ledger Live Integrates USDC on Stellar
July 28, 2022
Along with Ledger Live, USDC on Stellar will be supported by both Ledger Nano X, Ledger Nano S, and Ledger Nano S Plus hardware wallets as well as MyEtherWallet and MyCrypto.
https://www.ledger.com/supported-crypto-assets
USDC Stellar is not listed under Supported Assets as of 11/22/23
https://stellar.org/learn/store-and-send-lumens
STORE AND SEND LUMENS — Downloadable Wallets
*Take a look at these two reddit posts about the Security of Lobstr wallet:
https://www.reddit.com/r/Stellar/comments/1810g1k/how_secure_is_lobstr_wallet/
How secure is Lobstr Wallet?
https://www.reddit.com/r/Stellar/comments/180hhc3/is_lobstr_wallet_safe_to_use_for_xlm_and_usdc/
Is Lobstr Wallet safe to use for XLM and USDC (Stellar)
Make sure you enable 2FA using your authenticator app like Authy. Also disable Reverse federation lookup in settings. For even greater security look into enabling Multisig/Vault — this will require you to use another application to grant approvals anytime you trade or transfer crypto. See instructions below.
*Instructions for using Lobstr Wallet:
https://lobstr.freshdesk.com/support/solutions/articles/151000043494-how-can-i-deposit-usd-to-my-lobstr-wallet-
How can I deposit USD to my LOBSTR wallet?
Modified on Fri, 17 Nov 2023
*Ultra Stellar owns the Lobstr Wallet and has released tutorial videos for creating the wallet and setting up additional security using their Vault app.
https://youtu.be/rHQgXYhgKsU
LOBSTR — Simple and Secure wallet for Stellar lumens
Ultra Stellar — LOBSTR, StellarX, StellarTerm May 6, 2019
https://youtu.be/uRJqX547Luk
Setting up multisig with LOBSTR and LOBSTR Vault
Ultra Stellar — LOBSTR, StellarX, StellarTerm Apr 26, 2019
This video will guide you through the process of enabling multisig for your Stellar account in LOBSTR wallet.
https://youtu.be/cWfy6pArmyM
LOBSTR mobile. Trading with LOBSTR Vault multisig enabled
Ultra Stellar — LOBSTR, StellarX, StellarTerm Apr 26, 2019
This video showcases SDEX trading with LOBSTR mobile app and confirmation of the ‘manage offer’ transaction with LOBSTR Vault signer app.
https://youtu.be/VtoZpEnu_A0
LOBSTR mobile. Sending funds with Vault multisig enabled
Ultra Stellar — LOBSTR, StellarX, StellarTerm Apr 26, 2019
This video showcases the sending of funds with LOBSTR mobile app and confirmation of the payment transaction with LOBSTR Vault signer app.
https://youtu.be/bAHllJ_WTSc
LOBSTR Web. Sending funds and confirming multisig transaction with LOBSTR Vault
Ultra Stellar — LOBSTR, StellarX, StellarTerm Apr 26, 2019
This video showcases the sending of funds with LOBSTR web app and confirmation of the payment transaction with LOBSTR Vault signer app.
https://youtu.be/Ns0S2gG25Wk
MoneyGram Access Demo
Stellar Development Foundation Jun 10, 2022
*Other Cryptos in Lobstr Wallet — Warning!!!
Lobstr wallet works with other cryptos and blockchains like XRP/Ripple. But one big problem is there are bunch of scam coins that have flooded the Stellar chain. And you will see 10 different XRP coins listed under assets. You need to be careful to add the right one. In the video below, the youtuber explains that for XRP you need to pick the “Fchain” XRP coin, because this the real XRP coin that you can transfer in and out of the wallet. But other XRP coins are clones and cannot be transferred outside of the Lobstr wallet. If you just use this wallet for XLM and USDC you won’t have any issues.
https://youtu.be/pHZAGVi1nDY
How to Use Lobstr Exchange + Wallet for Stellar Network Asset Trading
Quantum Stellar Initiative (QSI) Mar 27, 2022
Sell limit orders
Buy Fchain XRP — has interoperability. Can deposit and withdraw. Other XRP has to stay on lobstr. But this xrp can be transferred to other wallets like exodus/xumm
5:46 — and here’s what’s pending i have two pending so under this section is when people send you free stuff that it’s usually for marketing and sometimes they’re scams i don’t um accept any of them I convert to aqua so i hit convert to aqua and then i’ll select the two and then i’ll hit continue and i’ll convert it but remember in order to convert to aqua you have to have the trust line in your account so remember you would go back to assets add aqua
https://youtu.be/zGNAT9yEEtM
How to send XLM from LOBSTR WALLET to Bitrue
RuRou Jan 18, 2022
First you put in address, then lobstr checks address, then continue, then put in amount, then put in memo
*Please note, this is not financial advice. This is for entertainment purposes only. Please do your own research.
Prophetic Money