Review on Lobstr by Stephen Toluwani
Your Recommended XLM wallet; Lobstr
Needing an XLM wallet to receive an Airdrop of a token using XLM Blockchain for it's creation, I was moved into downloading the Lobstr wallet which is generally, a wallet dedicated to assets of XLM. The mobile app wallet which was what I interacted with on my Android device came with a small amount of space needed making the wallet tagged as a lightweight. There was little to no registration process as the most required procedure for using the wallet was setting up a Key for accessing the wallet and backing up of the Private keys. Moving into the exchange, it had a very simple UI, not too bogus, not too bad and was very easy to navigate around with no issues. After sending some XLM to activate the wallet, I requested a withdrawal of my Airdrop tokens into the wallet and moved straight to it's exchange. The exchange carries the semblance of any other exchanges but has no Trading chart, just an order book with history of highs and lows. I can't really confirm if there was any trade fee charged for my exchange but even if there was, it was too insignificant for me to recognize. Even the transaction fees charged to transfer any asset out of the wallet was low when calculating in XLM or USD. This makes the wallet to be of a very great usefulness to Crypto enthusiast interested or using XLM Blockchain for their works. Despite being Decentralized, I don't understand why the wallet held some of my coins from being withdrawn. Its still a great wallet to use which is why I recommend the Lobstr wallet and am sure anyone obliged to using will be glad they did.
Pros
- The Lobstr wallet Supports every asset created on the Stellar Blockchain, this makes Lobstr a must get wallet for users who interact with XLM and it's underlying tokens
- There is an inbuilt easy to use token exchange on the wallet. Being one of the most popular XLM wallets, there is usually good liquidity provided for on the wallet's exchange
- Transaction fees out of the wallet is very low.
- The wallet being Decentralized gives users access to their Private keys and also the wallet supports 2 Factor Authentication for increased security
- Wallet is lightweight in size despite carrying such huge functionalities of an XLM wallet
Cons
- The wallet doesn't gives users full access to their funds. For example, I couldn't withdraw all my XLM coins out of the wallet at once
