Never forget this. I only recommend people use a custodial wallet for small amounts of change and for getting an easy Lightning address. But you’ve got to withdraw it to your own keys when it becomes a meaningful amount.
Phoenix and Breez are great non-custodial Lightning wallets.
nostr:note194eurszwc9s4tz8wuwjrta0z93j4nma89yvqzl7ttzj8m00fcsuqejtet7
Phoenix is awesome, but pay attention to your settings such as Auto Open Channels. Turn that off after you have some channels, until you need liquidity again
Please define a "small custodial amount of change..." that might be 50 bitcoin to elon?
Different amounts to different people. My definition of pocket change is probably a bit different from nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m‘s.
Doesn’t have to be defined, because it’s based on individual risk tolerance. ie. Your example of Elon
I'm glad I started using Phoenix. Really nice for saving up to do a big transfer to on chain, without the worry of a rug.
You are right, only keep small amounts in lightning. All lightning wallets are custodial, this is not talked about enough in the industry. In order to contol you own funds on lightning you have to be running your own node managing your own channels and liquidity. We haven't built the tech for non-custodial lightning wallets yet. We are working on it, until then, not your keys, not your ponzi scheme!
Then what is the best hot wallet as of now Till I get my ColdCard? Please advise me
