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Replying to Avatar Stefan

One question about non custodial Lightning Wallets like #Phoenix.

I understand that with my own seed they can‘t run away with my Lightning funds.

But what happens with my funds when they decide to close the service or will be forced to close? Then I am not better than with a custodial wallet, right (and can’t access my funds like with a custodial wallet)?

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Anti Spasti 2y ago

The right questions asked! Simple answer: You need to trust them.

They have a nice FAQ: https://phoenix.acinq.co/faq#is-phoenix-trustless

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Stefan 2y ago

Thanks for this answer 👍

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Stefan 2y ago

Not your keys and not your node: not your Sats #Non-Custodial-Wallets

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