Lobstr Wallet

Lobstr Wallet: Your sleek and secure gateway to the world of Stellar. Manage your XLM and other assets effortlessly, execute transactions seamlessly, and explore the future of decentralized finance wi

Lobstr Wallet: Your sleek and secure gateway to the world of Stellar. Manage your XLM and other assets effortlessly, execute transactions seamlessly, and explore the future of decentralized finance with this user-friendly wallet.

One of the most secure and easy to use wallets for Stellar (XLM) is Lobstr. Not the official client but anyway recommended by the Stellar team, it offers multiple features such as encryption, PIN option in the mobile version and Two-Factor Authentication (2FA) for both mobile and web browser . This review of Lobstr wallet is going to show you everything you need to know about its features as well as provide you with a complete guide on how to set up and use it.

01.Lobstr Features & Fees

The Lobstr wallet provides multi-coin support when it comes to the Stellar project. In this platform you can find the Stellar Lumens coin and all its tokens. It’s a web wallet you might use with any kind of a browser, doesn’t matter the device you’re operating with. There’s also a mobile app available for both Android and iOS operating systems. Once you create yourself an account you can use it in both versions without pairing devices. You can access your coins in a secure manner, thanks to the additional factor verification.

What You Will Learn

• Pros and Cons

• Multi-Coin Support and OS Compatibility

• Built-In Exchange

• Security

• Privacy and Anonymity

• Transaction Fees

• Conclusion

• Web Page Interface

  

Pros & Cons

A detailed overview is more comprehensive if structured in a graphical view. That’s why I propose you to have a look at the following table, showing all the positive and negatives sides of the Lobstr wallet. This might help you make a well-informed call on your wallet.

Pros

• Integrated ExchangeLobstr offer a built-in exchange to trade XLM and its tokens with both Bitcoin and fiat currencies

• Two-Factor Authentication (2FA)This is an additional security layer requesting you to enter some kind of extra information to access your wallet

• Open Source CodeAll the users in the Stellar network are able to read the code and propose modifications

• Help DeskXLM’s community is highly responsive and active when it comes to solving issues and answe questions

Cons

• Lack of Hierarchical Deterministic GeneratorLobstr is missing the (HD) feature, so you’re supposed to create yourself a new address every time when you receive coins if you want to keep your balance private. Otherwise you’re going to reuse the same address

• Only Stellar SupportExcept for the Stellar and its token, there’s no other coin support included

• Private key OwnershipUsers’ private keys are kept in a Stellar server encrypted with your password but anyway you’re not the one in charge to keep them safe