Review on Lobstr by Aman Arora
Lobstr is best choice wallet with multinsig security feature
Lobster is non custodial wallet and specifically designed for storing and receiving Lumens (XLM). Lobster wallet has both Android and iOS versions compatible wallet. Registration ia completed with Email address authentication but you need to create a wallet to start using the services of lobstr wallet. Lobster wallet is morever a wallet for buying lumens securely with debit and credit card. More than 160 countries are supported to buy lumens with Card except àChina USA Seria & Couple others not allowed to use the card buying facility.
Buying Lumens with card charges a fees of 4.5% of total amount is which is very competitive and genuine . In order to use other assets on the wallet you need to have balance in XLM which is must to activate other wallets because wallet charges a minimum fees to activate other wallets in order to receive and trade other Coins. You can buy stellar in USD GBP & Euro through debit and Credit Card and can easily activate and other available Coins in wallet
Beside a XLM address you can receive payments on stellar network through Federation address and even by email registered on the wallet. Default Wallet security feature is through IP Lock facility but PIN confirmation and 2FA google authentication can be enabled from settings of wallet. Highly secured wallet with multisig facility. You can use that facility by funding your wallet with XLM.
Multisig facility is a standout feature of Lobstr wallet but in order to avail that facility you need to download separate lobstr vault which is available at playstore and Apple store and that is why most people recommemd and use lobstr wallet for extra security layer and protection of Assets.
Pros
- Lobstr is non custodial wallet built for lumens with a facility to buy coins with card
- Security offered is top class with 2FA and multisig which is recommended to use to safely store assets
Cons
- Wallet is top recommended wallet for security and facility to trade but charge to activate wallets could be a concern for acquiring large users
