Muun is 100% stealing user funds. I’ve had them charge 100%-200% fees, and experienced numerous “failed” transactions without receiving full refunds. Stopped using them about a month ago:
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Discussion
No one can say I haven’t been warning people for months about this.
Whats the best non custodial lightning wallet you know for Android and Iphone?
On Zeus and BlueWallet you have to link to an LNDHub server or connect your node. They don't provide that for you.
Phoenix is non-custodial, and you pay an intitial to open your channels there, but afterward it works like any other Lightning wallet, but it does not support LNURL for zaps.
“BlueWallet, a Bitcoin wallet with apps in both the iOS and Android stores, has announced that it will end its custodial Lightning wallet service by April 30, 2023.”
https://bitcoinmagazine.com/business/bluewallet-to-sunset-custodial-lightning-wallet-service
Jeez good thing I abandoned them the 2nd week of installing it on my phone
I was proud using Muun, thinking it self-custodial ! 😂 That article destroyed it ! I think about replacing it with BlueWallet.
Blue Wallet
Exodus
Phoenix
Zeus
Alby & LNTips
Muun is non-custodial. It's a great wallet and no wallet is completely perfect. If you’re using it, just make sure you pay attention to fees when sending lightning payments…
Wow. Never seen this problem!
Could that be related to their “notso-Lightning” transactions are made during those high high fee days because your supposedly LN transaction would be included in next Bitcoin block? This is only my assumption how Muun’s monster works in the background.
This was their team’s response, although I don’t understand how I could incur transaction fees on a failed transaction. Seems super sketchy:
To cancel onchain transaction you would have to pay bigger fee with rbf. I understand that all their transactions are really onchain transactions as Muun is not a lightning wallet really 🐸 So maybe sometimes Bitcoin transaction is pushed before the suppose lightning is done and if their lightning payment fails doesn’t matter cuz you cannot cancel a Bitcoin transaction you’ve sent to the mempool for free.
Wow, that's crazy 😧
I just did this. Zero fees. Easy verifiable cause was everything there. Cleaned it to see if it can send whole through invoice.
Sent from Muun to WoS.
All 1481 got to WoS. 🤔
So is it better to just send my funds to WoS from Muun for now until I get a hardware wallet?
Depends on the amount you're talking about. Eventually you will want to have a hardware wallet as any amount of bitcoin you hold is worth protecting, but decent ones can get pricey. You can also set up on-chain self-custody using software wallets, and protect the seed phrase by writing it down, never copying and pasting it, or taking a screenshot. BlueWallet and Blockstream Green are both good choices for starting out.
See I thought I was setting up a self custody wallet with Muun. I have the seed written down. Trying to decide on a hardware wallet now. Now im doubting I even understand which to buy. Maybe a paper wallet is more simple for me. I just want to hold my btc.
Trezor is the best for ease of use and features.
Jade is solid and cheap.
Coldcard is more expensive, but has more features.
Ledger spends all their money on hiring advertisers.
Thank you 🙏
Of course. Paper wallets are kinda terrible. IIRC the trezor (first hardware wallet) was made after a plumbing leak destroyed paper wallets that were stored in a fireproof safe.
If flood and fire wasn’t a concern, is a paper wallet safest for long term storage? Thoughts?
Paper wallets and seed backups are two different things, in case you didn't know.
Paper wallets are generally considered deprecated at this point, and ahould be avoided. A seed backup, on metal preferably, is highly recommended to secure your wallet no matter what.
I used to give out laminated paper wallets with a sticker over the private key. It’s effective if you’re using an old-format P2PKH address but now I’d prefer to use an OpenDime or stamp a seed plate for long term security.
What do you use the seed plate with? Hardware or software wallet?
You can use it with any BIP39 wallet but your strongest security will come from using a ColdCard or another bitcoin-only hardware device like Foundation Passport.
What do you recommend using?
There are some good suggestions in this thread depending on your experience level and risk tolerance.
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