Review on Lobstr by Temitope Babatunde
Lobstr Is Good For Storing XLM.
Created by Joe McCaleb the founder of ripple for Lobstr. though it is not officially made by stellar lumen themselves but is one of the wallet that they approve and you can download it directly from their website. Lobstr wallet is known for it's simplicity and security.
To use this wallet after downloading it you will have some instruction to follow on how to activate it, but know that you will need your phone number and email to activate it. Before your account will be activated you will need 1XLM which Lobstr will lend you and you must be maintaining minimum of one XLM in your wallet always.
using the wallet is super easy, because the interface is good looking no hidden buttons. Deposit or withdraw of your asset is at a click of a button, you may either choose to use your choosing username or XLM address, lobstr charge no fee but stellar network always take 0.00001XLM as fee.
Your stellar is always in the stLellar network but Lobstr only help to communicate with the network. There is FAQ section in the wallet that can help if you have any issue and if not satisfied you can consult them through mail. the wallet also has an integrated Dex exchange inside it.
In overall one can use this wallet with rest of mind but have it in mind that is an online wallet.
Pros
- Registration is simple.
- Though not made officially by stellar, but they approved it on their website.
- The wallet is compatible for both web and mobile devices.
- It has good security.
- it can store XLM and all the tokens based on the stellar network.
- Has Dex Exchange integrated into it.
Cons
- It only support stellar and its derivatives.
- It is not heirarchical deterministic wallet.
