Store LSK Tokens
Where to Store LSK Tokens?
Technically speaking, LSK tokens are stored on the blockchain. In order to interact with them in any way though, you will need a wallet. There are two official Lisk Wallets – Lisk Desktop and Lisk Mobile.
Lisk Mobile is the official crypto wallet app for mobile devices. It is open-source, and available to download on both Android and iOS devices.
Lisk Mobile offers mostly basic functionality for the Lisk network and your LSK tokens. For starters, you may send and receive LSK tokens through transfer transactions. New addresses may also be generated from the app itself.
Bookmarks are another additional feature offered by Lisk Mobile. With bookmarks, you can manage all of your LSK addresses, as well as keep track and save addresses from other users.
Like Lisk Mobile, Lisk Desktop is open-source. It is available for Mac, Windows, and Linux operating systems.
Users can easily stake and/or unstake validators through Lisk Desktop. This is a key component of Lisk’s Proof of Stake (PoS) consensus. Unlocking LSK tokens that were previously used for staking is also possible.
For a better understanding of how staking works on the Lisk network, please read the Lisk Voting Process blog post.
Staking helps better secure the Lisk network by selecting honest and trustworthy validators. In addition, users can earn LSK by staking on validators that offer to share a portion of their block rewards with their stakers.
Many network events can also be monitored through Lisk Desktop. Most recent transactions and blocks, top account holders, and validator statistics are just a few of the things you can explore.
Lisk Desktop vs. Lisk Mobile
While Lisk Desktop offers more features, Lisk Mobile enjoys some additional convenience. As with any mobile wallet, users can use Lisk Mobile anywhere with your mobile device. Lisk Mobile has a biometric authentication option for login, which is convenient for quickly logging in and checking the basic details of your account. For security purposes, your passphrase will be required when making any type of transaction.
|Lisk Desktop||Lisk Mobile|
|Manage your account||X||X|
|Send & receive transactions||X||X|
|Hardware wallet support||X|
|Participate in staking||X|
|Monitor the network||X|
|Use your wallet on the go||X|
For users who prefer the utmost security, LSK tokens can also be stored on a hardware wallet. This can be achieved through Lisk Desktop, which has the capability to connect to a Ledger hardware wallet. Ledger Nano S and Ledger Nano X devices are both compatible with Lisk Desktop.
For a full step by step guide on how to use your Ledger with Lisk Desktop, please read the Ledger Hardware Wallet User Guide blog post.
Third-Party Lisk Wallets
There are certainly other third-party options available that are not listed here. These include various exchanges and stand-alone wallets. Keep in mind that these options are not directly affiliated with the Lisk team, and therefore pose an additional risk if you choose them. Use at your own risk.