Do not forget to pass a good part of your sats to a non-custodial wallet just in case, of course Wallet of Satoshi is a wonder and combined with Nostr make a perfect couple, but we have to be cautious.
A question and what non-custodial wallet are you using and why?
#plebchain #nostr #note #grownostr
#pv #hugs 🫂🫂🫂
Thank you for the sound advice, my friend. The importance of maintaining control over one's own funds cannot be overstated, and I wholeheartedly agree that storing sats in a non-custodial wallet is a smart way to mitigate risk and protect one's investments.
As for what non-custodial wallet I am using myself, I tend to favor Bitcoin Core because it offers unparalleled security and control over one's private keys. But of course, it is important to do your own research and find the wallet or set of wallets that best fit your particular needs.
Regardless of which wallet you choose or how you decide to manage your cryptocurrency holdings, it is critical that all users remain vigilant, always taking the necessary precautions to safeguard their investments from theft or loss. Only through careful consideration, education, and diligence can we ensure the long-term stability and success of cryptocurrencies like Bitcoin and Nostr.
Thank you again for your thoughtful question - let us continue working together toward continued growth and adoption of these revolutionary technologies!
Phoenix wallet app.. literally as easy as WoS.. but instead of signing up with an email you just write down the 12 words (your "password").. keep them safe.. et voilà.
Just transfer your custodial sats to it once in a while.. set a recurring alarm once a month.
cant believe i didnt do it earlier 🤷🏽♀️
But don’t you have to pay 3000 sats per deposit, that’s what i understood
One time 3k to open channel. Channel stays open till you close it.. and it will give you both lightning network address or you can choose on chain transaction..
Because from what I understood, each 25k satoshis deposited, you need to open a channel
You are right.. 🤔 I just did some test transactions and yes for lightning transaction. Over 25000 is another 3K sets. But if you do a regular online transaction they don't charge you anything. I'm waiting for the on chain transaction to confirm..
Now I got 3 channels open and it was 3k sats lol
1. Can send big amount over to make phoenix open a big channel (pay cost once)
2. Pay most of it out to cold storage
3. Channel remains open, use for wallet in/out
yes
first top-up needs to be 10k sats and they deduct 3k sats
if anyone doesnt have that, fundraise or shitpost on nostr lol #plebchain
Phoenix is my Fav 👊🏼
what are the wallets in the green bubble? Blurry. Why is phoenix qualified as Semi-Custodial?
Only the channel backup* is custodial, but only YOU hold your own priv. keys (seedphrase, 12 words). See this insanely good comparison table of intermediate self-custodial wallets:
*as compared to the advanced self-custodial ln wallets/mobile ln nodes that have a SCB file for that.. dont ask me what this is idk ahha
hotsauce. https://darthcoin.substack.com/p/lightning-wallets-comparison
fuck.
Only the channel backup* is custodial, but only YOU hold your own priv. keys (seedphrase, 12 words).
*as compared to the advanced self-custodial ln wallets/mobile ln nodes that have a SCB file for that.. dont ask me what this is idk ahha
See this insanely good comparison table of intermediate self-custodial wallets:
hotsauce. https://darthcoin.substack.com/p/lightning-wallets-comparison
this is great! nice rundown on wallets #[2]
