🤷🏽‍♂️🤷🏽‍♂️🤷🏽‍♂️🤷🏽‍♂️

I just looked and on my end and it's .5%. From Wos to Cake wallet. That's not too bad I guess.

So thanks to #[0] I have just discovered the cheapest (but not the most private) way so far to move Bitcoin on Lightning to an onchain address. Caveat: you need to have access to Strike.

1) send BTC to Strike via Lightning

2) switch to the Buy/Sell BTC section on Strike

3) use the cash that Strike gave you when you completed step 1) to buy BTC

4) send BTC to onchain address with no fees

💁🏻‍♂️⚡️🌽

It’s called a loop out, and it depends.

First of all, you can’t just pay an on chain address from a regular lightning client.

So what you do, is send sats to a Channel partner that is connected to someone who will Provide such a service. With that, you need to pay the fee that the channel partner sets, the nodes between for liquidity, and then the provider for the service.

Some lightning clients obfuscate this service by just doing all of that on the backend, or are the loop out service provider themselves. An example is wallet of satoshi. That’s where they make fees for profit.

There are other ways to do it to, for example, you can pay a strike lightning invoice, and then use the cash they deliver to pay an onchain invoice, where you’d pay the miner fees and whatever minimal liquidity routing fees needed to pay the lightning invoice to strike.

It would depend on the wallet provider and what they think it's worth to them to trade their on chain sats to off chain liquidity. I run a LN node and providing this service would probably cost me more than it would be worth to users. I try to keep my percentage of off chain BTC pretty low just in case. There's some risk I carry to having more off chain, in a node hot wallet. I haven't run numbers to know what it's worth but if I did implement something like this it would have to be transaction cost plus some percentage based on that risk.

What’s the best way (cheaper fees) doing the other way around: BTC on chain to a Lightning wallet?