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Hello, Terence.

Yes, stropping the razor is part of the pleasure of shaving with the straight razor. Yes, stropping (two p's) is a word: it is the process. To strop is the verb.

Regards,
Obie

Hello, Terrance:

Welcome to Straight Razor Place.

I assume you have done ample research outside the SRP sources. Please peruse the Wiki here for mounds of additional information.

A strop is...