Frequently asked questions

Question 1

What is LOBSTR?

Accepted Answer

LOBSTR is categorized as a software wallet and hot wallet. LOBSTR is designed primarily for managing Stellar (XLM) and assets issued on the Stellar network.

Question 2

Is LOBSTR safe & legit?

Accepted Answer

LOBSTR has not experienced any major hacks, scandals, or criminal charges. LOBSTR is a non-custodial wallet, meaning users control their private keys, while also offering optional integrations like custodial services and multisignature support for additional security.

Question 3

Who created LOBSTR?

Accepted Answer

LOBSTR was launched in 2014 by Lobstr Holdings, a company focused on building user-friendly financial products on the Stellar blockchain. The platform has grown to become one of the most widely used wallets in the Stellar ecosystem.

Question 4

Where is LOBSTR's company based?

Accepted Answer

The company behind LOBSTR, Lobstr Holdings, is headquartered in Tallinn, Estonia. LOBSTR has maintained its brand since its launch and continues to specialize in the Stellar ecosystem.

Question 5

How does LOBSTR work?

Accepted Answer

LOBSTR is available as a mobile app (iOS and Android) and a web wallet, allowing users to securely store, send, and receive Stellar (XLM) and Stellar-based tokens. Transactions are signed within the wallet interface and confirmed by the user. Private keys are generated and stored locally on the device, secured by a password and recovery phrase. LOBSTR also supports multisignature wallets for enhanced security.

Question 6

When was LOBSTR launched?

Accepted Answer

LOBSTR was released in 2014.

LOBSTR