Have a bad feeling that people will learn the hard way about custodial vs non-custodial lightning wallets soon tm
Discussion
Wallet of Satoshi too me has the biggest rug pull potential via exit scam or governments cracking down forcing kyc because its getting big. Only recommend using it for convinance with the smallest of funds for zapping etc and to always sweep out large amounts to self custodial lightning wallet.
Is Wallet Of Satoshi non custodial?
Wallet of Satoshi is custodial
Can you direct me in direction to learn about non custodial lightning wallets?
Perfect! Thank you!
In this guide it says that Phoenix isn’t on iOS but it actually is on iOS!
My thinking is that if you want to have coffee/lunch change then may be satoshi wallet is great. Own lightning node might be useful if you accept payments..and also use to make a lot of lightning transactions. Never dived into lightning too deep.
No! You shouldn’t use wallet of Satoshi! It’s a custodial one!
So I can connect non-custodial to Damus/NOSTR as well?
What is your personal non-custodial pick for mobile friendly wallet then ? :)
Phoenix
Thx. Checking!
I use linux and sparrow. Need to send 10000 sats to activate receiving address. I assume I need a wallet on linux that handles both btc normal addresses and lightning. Is that correct?
You can transfer via lighting to phoenix and it will open a channel to you. Or onchain transaction. Make sure to make a fat transaction so you will have enough liquidity. If on android there is already splicing feature so read about this implementation. If on iOS do the above or just wait a few weeks that they will release this feature
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