How do you move your sats from a LN wallet, like Alby, to a bitcoin wallet?
Discussion
I've only ever been able to move them in the other direction.
You can send ln to on-chain on most no?
Pretty sure I've done this with Alby, at least
BUT HOOOOOOOWWWWWW???? 😅
It's custodial, so I can't just close the channel.
tbh I don't even know what that means lolol, don't you just put in the btc1 address in the send field and away they go lolol
bc1*
I don't see where I can enter a bc1, only ln
The recipient address accepts ln address, lnurl, and bc1
I'm pretty sure of this! But obviously I know the least out of anyone here
I just tried bc1 to Phoenix and Electrum, from GetAlby and both didn't work. I've now sent it to Phoenix over LN, with an invoice. At least, it's then off of the custodial address.
Some wallets allow you to pay to an onchain address for a fee however many just pay lightning invoices.
If you want to pay to a bc1 address from any lightning wallet use Boltz exchange. It will let you enter a bc1 address and then it will present you with a lightning invoice to scan and pay charging a 0.5% fee to swap from lightning network to on chain.
Getting totally eaten up by fees, with the small amounts I'm sending, but the Alby is custodial, so I can't collect a larger amount there and then send it, all at once. Moving things peu à peu to Phoenix, and from there over Boltz to my hardwallet.
This is all crazy-difficult. 😭
The trade of to fees is going the KYC route.
You can send to lightning on strike for no fee and then withdraw to on-chain for free as well.
But you know what they say about when things are free...
To get lightning sats back on chain you can either close the lightning channel or use a swap service like https://boltz.exchange/
https://boltz.exchange/ works well. Binance has lighting support if you're outside of the EU. Kraken just removed it again because regulatory EU bullcrap.
Boltz, sideshift, a robosats/lnp2pbot/hodlhodl/bisq offer of ln sats for onchain sats, coinos.io, even phoenix wallet, but you need liquidity
I have Phoenix, but I can't figure out how to get the sats from Alby to Phoenix. I was trying to do that, but they use different ln invoices.
In phoenix you need enough liquidity in your channel, to receive the amount of sats and later to pay onchain, they use splicing so if you are going to pay onchain the size of your channel will decrease by the amount of sats you are trying to pay. Its not the most recomendable way to do so, just for payment that can fit in your channel liquidity and that will not let your channel empty. Use one of the other tools I mentioned. Boltz, sideshift are super easy and made for this, coinos.io is also super easy, you just send sats to a newly created wallet, and then pay to a btc address. The other options I mentioned, are p2p exchanges, they can be less intuitive to use for this case, but they will maximize your privacy
Okay, let me try that.
Find it so weird that there are all of these one-way wallets. They should come with a warning label, or something.
What warning? I don't understand 🙏🏼
That you can put money in, but you can't take it back out again.
I think this is a miss conception there is not such a one way wallet, there is bitcoin, and lightning, some wallets have interoperability between those and others dont
I should learn what you lot are on about. I'm probably doing this all wrong lol
Either use an intermediate like muun or wallet of Satoshi then got to your btc wallet, but I'm pretty sure you can just close your channels and then move it to a regular wallet
Try boltz.exchange
Send to Muun, then to my wallet of choice