did you already download Phoenix wallet, anon?😁
Discussion
Yes but not actively using it, except for lnauth.
wym w lnauth?
You can login with lightning on some websites 👀
https://stacker.news/ for example
Got it. But, not set up yet.
✅
🤙🏾
awesome 😍
were you already using it?
Switched from Muun a couple days ago
I would wait with funding phoenix wallet until fees are a bit lower.
No… should I? Well, given the note, I’m assuming yes, so I should ask “why should I?”
Phoenix is a self-custodial bitcoin lightning wallet that acts as a Bitcoin lightning node on your phone.
You get 12 words (= your seedphrase) with which you can restore your funds anytime if you lose your phone.
you control your keys, phoenix cannot rug you
wallet of satoshi for example can (not that they have this intention, but using centralised custodians opens you up to a lot of vulnerabilities to indeed lose your sats)
so, no trust required with phoenix.
read more here: https://lnshort.it/lnwalletguidenostr also read the FAQ on their website phoenix.acinq.co
Self custodial is great & vital (IMHO) but several wallets offer that.
I did not realize that it was possible to have a lightning node right on your phone! That’s amazing! I’m going to need to look into that and likely download/run it.
yes, not only phoenix. breez and blixt too.
but phoenix imo easiest.
which one do you like?
i still use wos/ln.tips to receive zaps on here tho btw
phoenix doesnt offer a way to receive zaps (lnurl), but you can still send from it.
.. i basically use it as a secure way to save bitcoin in on bitcoin lightning and it can swap L1<>L2
bitcoin on-chain is for deep cold storage (longterm saving)
you want to setup phoenix BEFORE the mempool fees (onchain) become high, this so you can still transact with like 1 sat in fee, independent of the mempool fee environment..
while it would cost a premium price for everyone else to move bitcoin around on l1 and between l1 and l2, you'll be able to still send v cheaply and lightning fast.. in a self-custodial way.
I prefer to feel the Breez 😂
i should test that one out once
also, any reason you prefer breeze?
I like the additional features like NFC and point of sale interface. Also can open channels to any node, although the default channels with Breez seem to work fine. It has some other integrations with podcasts and some services like Bitrefill, but I don’t use them much. They did some upgrades last year that significantly increased the speed with syncing and sending/receiving.
sounds good. def gonna be my next one then i think.
I just did. Now what? 😁
Can I generate a reusable lnurl with phoenix?
no, only thing that's not possible with a ln node on your phone (yet)
so see it more as a saving account on L2 to mitigate a potential future high onchain fee environment