Introduction
One of the most secure and user-friendly wallets for Stellar (XLM) is Lobstr. While it isn’t the official Stellar client, it’s highly recommended by the Stellar team. Lobstr offers robust features like encryption, a PIN option for mobile users, and Two-Factor Authentication (2FA) for both mobile and web versions. This review covers its features, security, and provides a step-by-step guide on setting up and using the wallet.
Pros & Cons
✅ Pros
- Integrated Exchange: Trade XLM and its tokens with Bitcoin and fiat currencies directly within Lobstr.
- Two-Factor Authentication (2FA): Adds an extra layer of security.
- Open-Source Code: Transparency allows community-driven improvements.
- Active Help Desk: Stellar’s community is responsive and supportive.
❌ Cons
- No HD Wallet Support: Requires manual address generation for privacy.
- Stellar-Only Support: No compatibility with other blockchains.
- Server-Held Private Keys: Users don’t fully control their private keys.
👉 Discover how Lobstr compares to other Stellar wallets
Supported Tokens & OS Compatibility
Lobstr supports Stellar Lumens (XLM) and 3,000+ Stellar-based tokens, including:
- EURT (Euro Tether)
- SLT (Smartlands Token)
- MOBI (Mobius)
- WSD (White Standard Dollar)
📱 Mobile Compatibility
- Android (4.3 or later)
- iOS (10.3 or later)
Built-In Exchange: Stellar DEX
Lobstr integrates Stellar’s Decentralized Exchange (DEX), allowing users to trade without intermediaries. While DEXs offer more control, they have lower liquidity compared to centralized exchanges. Fees vary, so research before trading.
Security & Privacy
🔒 Security Features
- Open-Source for transparency.
- Password Encryption protects data.
- 2FA prevents unauthorized access.
🕵️ Privacy Limitations
Lobstr lacks advanced privacy features like address anonymization.
Transaction Fees
- Deposits/Withdrawals: Free.
- Network Fee: 0.00001 XLM per transaction.
How to Set Up Lobstr Wallet
📥 Installation
- Web: Register at Lobstr.co.
- Mobile: Download from Google Play or App Store.
🔑 Creating an Address
- Go to Receive Tab.
- Copy your public address or QR code.
💸 Sending/Receiving XLM
- Send: Enter recipient’s address and amount.
- Receive: Share your public key.
👉 Learn advanced Stellar trading strategies
Backup & Recovery
- No traditional backup—access via password or recovery code.
- Use private keys (found in Settings > Reveal Secret Key) for restoration.
FAQ
❓ Can I add custom tokens?
Yes, via the Assets menu.
❓ Why does Lobstr pre-fund my wallet with 1.5 XLM?
To activate your wallet (minimum balance requirement).
❓ How do I check transaction status?
Click the TX ID for details.
Conclusion
Lobstr excels in simplicity and security, making it ideal for Stellar users. However, privacy-focused traders may prefer alternatives.
Ready to try Lobstr? Get started today!