If you were a Keybase user in 2019, you likely received free cryptocurrency in the form of Stellar Lumens (XLM) deposited into your account's built-in wallet. Many users, including myself, left these lumens untouched for years. However, when I decided to cash out, I discovered the process wasn't as straightforward as expected due to changes in Keybase's integration. Here's a step-by-step guide to securely transfer your lumens.
Step 1: Exporting Lumens from Keybase
Keybase no longer supports direct XLM transactions within its app. Instead, you'll need to export your balance to an external wallet. This requires:
- Your Keybase account ID
- Your secret key (found in Keybase's wallet settings)
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Step 2: Choosing a Stellar Wallet
You'll need an intermediary wallet that supports Stellar Lumens. Recommended options include:
- LOBSTR (Web + mobile)
- Beans (Mobile only)
I chose LOBSTR for its cross-platform accessibility. While some Reddit users noted it stores secret keys on its servers, this was acceptable for my short-term cash-out plan.
Step 3: Retrieving Your Keybase Credentials
Desktop Method:
- Reinstall Keybase if needed (download here)
- Navigate to Wallet → Stellar Lumens
- Locate your account ID (note: cannot copy directly)
Command Line Method (More Reliable):
keybase wallet accountsThis reveals a copy-pasteable account ID. For the secret key:
- Keybase allows direct copying (handle this sensitive information securely!)
Step 4: Transferring to Coinbase
Once lumens are in LOBSTR:
- Log into Coinbase
- Go to Buy/Sell → Receive
- Select Stellar Lumens (XLM)
Use the provided QR code or manually enter:
- XLM address
- Mandatory memo (without this, funds may be lost)
👉 Learn how to securely cash out your cryptocurrency
FAQs
Q: Why can't I send lumens directly from Keybase to Coinbase?
A: Keybase discontinued direct XLM transfers in 2021. An intermediary wallet is now required.
Q: Is LOBSTR safe for long-term storage?
A: For short-term transfers, LOBSTR works well. For long-term holding, consider hardware wallets like Ledger.
Q: What if my Coinbase account is inactive?
A: Reactivate by verifying your identity with:
- Government-issued ID
- Current residential address
- Possible additional KYC steps
Q: How long do transfers take?
A: Stellar network transactions typically complete in 5-10 seconds.
Final Notes
- Always double-check addresses and memos
- Small test transactions are advisable before large transfers
- Remember to delete wallet credentials after cashing out
By following these steps, you can successfully migrate your forgotten lumens into spendable currency. The process demonstrates the importance of maintaining active management of cryptocurrency holdings—even "free" assets require periodic attention.