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LOBSTR Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
LOBSTR logo
2.99
Crypto Head Rating
Visit LOBSTR

The Bottom Line

LOBSTR presents a dedicated solution for those involved with the Stellar network, offering a mobile wallet coupled with an integrated exchange. Its straightforward approach to trading and wallet management aligns with the desires of its focused clientele.

As a niche platform, LOBSTR holds a unique position in the broader landscape of cryptocurrency services.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • User-friendly interface
  • Supports Stellar Lumens (XLM) and other Stellar-based assets
  • Offers a built-in wallet for easy asset management
  • Enables quick and direct fiat deposits and withdrawals in some regions
  • Provides advanced security features, such as 2FA and multisig

Cons

  • Limited selection of cryptocurrencies compared to larger exchanges
  • No advanced trading features like futures or margin trading
  • Customer support might not be as robust as larger platforms
  • May not be available or have limited functionality in certain countries
  • The fee structure might not be as competitive as other exchanges

Quick Summary

Headquarters Location Paris, France
Fiat Currencies Supported (through third party apps) USD, AUD, GBP, CAD, EUR + 10 others
Total Supported Cryptocurrencies 37+
Trading Fees 0.88%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, MoonPay
Support Twitter, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

LOBSTR stands as a specialized and streamlined platform designed for users interested in the Stellar network, offering a blend of wallet functionalities and exchange services. This platform is tailored to cater to the needs of Stellar enthusiasts, providing a unique space in the cryptocurrency landscape.

LOBSTR homepage

LOBSTR, as a crypto platform, has proven to be a cornerstone for those deeply vested in the Stellar network. What sets it apart is not just its functionality but its dedication to a seamless user journey.

Expanding on this foundation, LOBSTR’s alignment with the Stellar network’s vision mirrors the intricate dance of lobsters in their natural habitat—calculated, purposeful, and community-oriented. As Stellar’s blockchain technology weaves through the complex fabric of the digital finance ecosystem, LOBSTR serves as a beacon, guiding users with its intuitive menus and tools tailored for both casual and seasoned participants.

About LOBSTR

LOBSTR was founded by Gleb Pitsevich with a mission to simplify the process of storing and trading Stellar-based assets. It has carved out a niche for itself by focusing solely on the Stellar ecosystem, which differentiates it from more general cryptocurrency exchanges.

Since its inception, LOBSTR has become known for its user-friendly Stellar wallet and built-in exchange services, allowing seamless transactions within the Stellar network.

LOBSTR features

The narrative of LOBSTR’s evolution is intertwined with the maturation of the Stellar network and the broader cryptocurrency market. From its nascence, Gleb Pitsevich recognised the potential for a specialised service that could harness the unique capabilities of the Stellar network—much like crafting a Connecticut Lobster Roll that respects the integrity of fresh Atlantic lobsters.

As the market trends shifted towards decentralisation and legal entities within the industry gained prominence, LOBSTR’s journey paralleled these developments, solidifying its status as a premier portal for engaging with Stellar’s vast and decentralised network.

LOBSTR only has one active social profile: Twitter.

LOBSTR has a mobile app on both the Apple App Store and Google Play.

LOBSTR Supported Cryptocurrencies

LOBSTR supports trading on over 37 cryptocurrencies on their platform. This exchange currently supports 20 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Shiba Inu (SHIB)
  • Chainlink (LINK)
  • TRON (TRX)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Bitcoin Cash (BCH)
  • Toncoin (TON)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Filecoin (FIL)
  • Cosmos (ATOM)
  • Immutable (IMX)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Aptos (APT)
  • Stacks (STX)
  • Optimism (OP)

View all cryptocurrencies LOBSTR supports

  • AAVE
  • ADA
  • ALGO
  • APE
  • ATOM
  • AVAX_CCHAIN
  • BAT
  • BCH
  • BNB
  • BTC
  • DAI
  • DGB
  • DOGE
  • DOT
  • EOS
  • ETC
  • ETH
  • FIL
  • KAVA
  • LINK
  • LTC
  • MIOTA
  • MKR
  • NEAR
  • SNX
  • SOL
  • TRX
  • TUSD
  • UNI
  • USDC
  • USDT
  • VET
  • XLM
  • XRP
  • XTZ
  • ZIL
  • ZRX

Trading Experience

The trading experience on LOBSTR is crafted to be intuitive, with a dedicated Send menu and a convenient wallet that accommodates the needs of Stellar network users. The platform’s interface is designed to facilitate smooth navigation and trading, with current market rates readily available.

Engaging with LOBSTR’s trading experience is as immersive as diving into Yorgos Lanthimos’s cinematic worlds—both are uniquely crafted and thought-provoking. Users navigate a dedicated Send menu that simplifies transactions as effortlessly as a food connoisseur choosing their favourite dish from a food menu.

The platform’s interface, much like a well-organised movie plot, unravels the complexities of the market, providing real-time rates and a streamlined process that is reflective of a personal experience rather than a mere transaction.

LOBSTR exchange marketing

LOBSTR Fees

The fee structure of LOBSTR is designed to be competitive and transparent. Catering to both novice and experienced traders, the platform ensures that the costs associated with trading and wallet services are clear, without burdening users with complex fee schedules.

In the bustling markets of the crypto exchange world, transparency is as crucial as the food menu at a lobster shack—customers need to know what they’re getting. LOBSTR maintains a fee structure that’s as clear as the waters off an iconic city’s coast, ensuring users can trade and manage their Stellar wallets without the worry of hidden costs.

This approach reflects a commitment to customer service that stands firm even as the tides of the cryptocurrency market ebb and flow.

Type Fee
Deposit Fee (Bank Transfer) Not Listed
Deposit Fee (Credit/Debit Card) 4.50%
Trading Fee 0.88%
Withdrawal Fee (Bank Transfer) Not Listed

Security - Is LOBSTR Safe?

LOBSTR takes security seriously, employing measures such as two-factor authentication, strong password policies, and secure server architecture. The platform encourages users to be vigilant and maintain a balance of private and public information to safeguard their assets.

As a commercial entity operating within the cryptocurrency market, LOBSTR adheres to best practices to minimize risk and protect its customers.

Security in the digital realm can often feel as elusive as achieving a perfect balance in a city’s political movies—necessary yet challenging. LOBSTR addresses this by fortifying its platform with security measures that are as robust as a Burger & Lobster Bangkok culinary experience.

Employing two-factor authentication, akin to a diner savouring both a burger and a lobster roll, ensures that users maintain that critical balance between accessibility and protection. Furthermore, the platform’s wallet software and Stellar servers are fortified against the risk of failure, providing peace of mind that is as satisfying as the knockout experience of a fresh lobster meal.

LOBSTR Customer Support

LOBSTR’s COMMITMENT TO CUSTOMER SERVICE is evident through its responsive customer support team. Users can expect timely and helpful answers from customer support, ensuring a seamless experience.

The platform strives to maintain a high standard of service, with customer service staff available to address any queries.

A platform’s customer support can be as telling as a silent scene in an apolitical movie—what isn’t said is as significant as what is. At LOBSTR, the customer service staff are the vocal protagonists, ever-ready to provide an answer from customer support that resonates with clarity and helpfulness.

Accessibility is key, with various contact hours, including 619-675-0002 Hours, 760-634-1684 Hours, and 858-352-6075 Hours, ensuring that users can reach out and receive assistance at times that suit their personal schedules. This commitment to customer service is a testament to LOBSTR’s dedication to its users, reflective of a Stellar network that values community and support.

LOBSTR support

LOBSTR Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on LOBSTR

  1. Create Account - Visit the LOBSTR website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you can deposit using the methods listed below. Note that this exchange only supports depositing fiat currencies through third party apps it supports.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • MoonPay

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Fiat Currencies Supported
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Fiat Currencies Supported
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Fiat Currencies Supported
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Final Thoughts

Reflecting on LOBSTR, one can appreciate its dedication to the Stellar community. The platform’s targeted approach provides a distinct experience that resonates with its user base.

Its service offerings, while specific, are robust and well-considered.

LOBSTR FAQs

LOBSTR is a digital wallet designed for the Stellar network, which places a strong emphasis on security features such as two-factor authentication (2FA) and encryption to protect users’ funds and information. However, as with any online service, the safety also depends on users following good security practices, such as using strong passwords, securing their private keys, and being cautious of phishing attempts.

LOBSTR is owned and operated by a team that is dedicated to providing a user-friendly experience for interacting with the Stellar network. The specific ownership details are not widely publicized, so for the most up-to-date information, it may be best to contact LOBSTR directly or check their official website.

LOBSTR operates as a semi-custodial wallet, which means it provides users with a balance of control and convenience. Users have access to their private keys, giving them control over their funds, but LOBSTR also offers certain custodial features to improve the user experience.

Yes, you can buy Stellar Lumens (XLM) directly on LOBSTR through their platform, which serves as an entry point into the Stellar network.

In LOBSTR, your wallet address can be found within the wallet interface. Once you are logged into your account, you can typically locate your wallet address in the account or receive section, where there should be a clear indication or a button to reveal your address.

To set up a LOBSTR account, you need to download the app or go to their website, follow the prompts to create a new wallet, and be sure to write down and securely store your recovery phrase. After providing the necessary details and setting up security measures like 2FA, your account will be ready to use.

LOBSTR is used as a digital wallet for storing, sending, and receiving Stellar Lumens (XLM) and other assets on the Stellar network, as well as for conducting transactions and interacting with various features available within the Stellar ecosystem.

Yes, you can withdraw money from LOBSTR by sending your assets to an exchange that supports Stellar Lumens, converting them to fiat currency, and then withdrawing to your bank account, or by using services that allow you to directly convert cryptocurrency to fiat money, if available within the LOBSTR platform. Always verify current withdrawal methods and supported services directly through the LOBSTR wallet.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

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