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LOBSTR Review

Last Updated on March 20, 2024

James Headshot
Written by
Adam Headshot
Edited by
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The Bottom Line

LOBSTR provides a tailored solution for those engaging with Stellar networks, providing both a mobile wallet and exchange. Their user-friendly trading and wallet management process meet the expectations of its dedicated clientele.

LOBSTR stands out as an indispensable cryptocurrency service provider.

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 No fees listed.
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 is an expertly designed platform specifically tailored for users interested in Stellar networks, featuring both wallet and exchange services to meet users’ needs and offer them a distinct space in the cryptocurrency ecosystem.

LOBSTR homepage

LOBSTR is an essential cryptocurrency platform for those devoted to Stellar networks like Stellar. What sets LOBSTR apart from others is not only its functionality but its dedication to offering users a seamless user journey experience.

Expanding on this foundation, LOBSTR’s alignment with Stellar network’s vision echoes that of lobsters in their natural habitat – calculated, purposeful, and community-focused. As Stellar blockchain technology weaves through the intricate fabric of digital finance ecosystem, LOBSTR serves as a beacon to guide users with intuitive menus and tools tailored for both newcomers and experienced participants alike.

About LOBSTR

LOBSTR was established by Gleb Pitsevich with the purpose of simplifying the process of storing and trading Stellar-based assets. Since it specializes exclusively in this ecosystem, it stands apart from more general cryptocurrency exchanges.

LOBSTR is well known for its user-friendly Stellar wallet and exchange services that enable seamless transactions within the Stellar network.

LOBSTR features

LOBSTR’s development is intrinsically tied to that of Stellar network and cryptocurrency market overall. From its inception, Gleb Pitsevich recognized its potential as an innovative service that could leverage its unique capabilities – much like crafting an authentic Connecticut Lobster Roll!

As market trends shifted towards decentralisation and legal entities within the industry saw greater prominence, LOBSTR’s journey mirrored this change, becoming one of the premier portals for engaging with Stellar’s vast yet decentralized 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 19 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • USDC (USDC)
  • XRP (XRP)
  • Dogecoin (DOGE)
  • Toncoin (TON)
  • Cardano (ADA)
  • Shiba Inu (SHIB)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Bitcoin Cash (BCH)
  • Uniswap (UNI)
  • Polygon (MATIC)
  • Litecoin (LTC)
  • NEAR Protocol (NEAR)
  • Dai (DAI)
  • UNUS SED LEO (LEO)
  • Pepe (PEPE)
  • Internet Computer (ICP)
  • Kaspa (KAS)
  • Ethereum Classic (ETC)
  • Aptos (APT)
  • Monero (XMR)
  • Render (RNDR)
  • Hedera (HBAR)

Download full list of cryptocurrencies LOBSTR supports

Trading Experience

LOBSTR is designed to offer an effortless trading experience, featuring an easy Send menu and wallet tailored specifically for Stellar network users. Furthermore, its intuitive user interface facilitates seamless navigation and trading processes with current market rates always readily accessible.

Engaging in LOBSTR’s trading experience is as thrilling and stimulating as immersing oneself in one of Yorgos Lanthimos’ cinematic worlds – both are intricately constructed and profound. Users navigate a Send menu which streamlines transactions like selecting their favourite dish from a menu.

Our platform’s interface, similar to a well-organized movie plot, demystifies the market by offering real-time rates and offering an effortless process that gives customers a truly personal experience rather than mere transactions.

LOBSTR exchange marketing

LOBSTR Fees

LOBSTR has designed its fee structure to be both competitive and transparent, catering to both novice and seasoned traders alike. By outlining the costs associated with trading and wallet services in an easily understood format, this platform ensures all costs associated with trading are clear without overwhelming users with complex fee schedules.

Transparency is at the heart of crypto exchange trading markets; customers should know exactly what they’re getting when visiting an exchange like LOBSTR. LOBSTR offers transparent fees structures so users can trade and manage Stellar wallets without hidden charges creeping in unexpectedly.

This approach shows a commitment to customer service that remains strong even as cryptocurrency markets fluctuate.

Type Fee
Deposit Fee (Bank Transfer) Not Listed
Deposit Fee (Credit/Debit Card) 4.50%
Trading Fee No fees listed.
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 its users to be vigilant by maintaining an equilibrium of private and public information for optimal protection of assets.

LOBSTR, as a commercial entity operating within the cryptocurrency market, adheres to best practices designed to minimize risks and secure its customers.

Security in the digital realm can often feel elusive, just like finding balance in city politics movies – yet necessary yet difficult. LOBSTR has tackled this by fortifying their platform with security measures as robust as those found at Burger & Lobster Bangkok restaurant.

Utilizing two-factor authentication is like treating yourself to both a delicious burger and lobster roll at once; it helps users maintain the delicate balance between accessibility and protection. Furthermore, both wallet software and Stellar servers on this platform have been strengthened against failure risk for added peace of mind that rivals the pleasures of eating fresh lobster.

LOBSTR Customer Support

LOBSTR’s dedication to customer service can be seen through its responsive customer support team, who offer timely and helpful answers ensuring a hassle-free user experience.

This platform strives to uphold an excellent standard of service, with customer support staff readily available to address any inquiries that arise.

Customer support at LOBSTR is like an unspoken movie scene: its absence can speak volumes about what lies beneath. Our staff strive to offer answers with clarity and helpfulness for every customer that comes through the door.

Accessibility is of utmost importance, with multiple contact hours that meet user schedules – 619-675-0002 Hours, 760-634-1684 Hours and 858-352-6075 Hours – offering users assistance when it suits their schedules best. LOBSTR’s dedication to its users exemplifies a Stellar network which 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

LOBSTR Alternatives

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Total Supported Cryptocurrencies
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Fiat Currencies Supported
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Fiat Currencies Supported
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Total Supported Cryptocurrencies
364+

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Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

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Final Thoughts

One can appreciate LOBSTR’s dedication to the Stellar community when considering its approach that provides users with an engaging experience.

Their service offerings, while tailored specifically, are comprehensive and carefully 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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