Phoenix doesn't have any transaction limits. You're only limited by channel liquidity.

No limits

There is none, but here's something to look at:

Go to settings > advanced > Payment channels.

There you should see a green bar and on the left it will show your balance, on the right it shows "inbound liquidity".

This is the capacity of your wallet. When you spend, the bar gets more empty and as you receive, it gets more full.

When the bar is close to full, the channel will grow. This will typically happen as you receive some bitcoin and when you generate the invoice that will cause this, you will see a warning. It will either say "this payment will fail" with links to help you change your fee limits, or it will say "on-chain fee expected" with links to see details.

The extra fee is like an administration fee for Phoenix to allocate more of their bitcoin towards your wallet as incoming capacity, making your wallet bigger.

So all in all, I don't believe there is a limit, but maybe keeping more than a few million sats is too much anyway... If you have more than you are going to spend any time soon, consider looking into cold storage.

Excellent points here.

There is a setting in Phoenix about automatically splicing in additional sats if the transaction exceeds your available inbound liquidity. But this is an on-chain transaction which can really hurt if your transaction is small and the fees eat most of the transaction. Imagine paying $2.50 in fees to receive $3. Instead, you could manually send a large transaction from yourself, pay $$3 in fees, and then send your own sats back to the original wallet to free up the inbound liquidity.

I would add a comment about the “add liquidity” button.

If you are planning to use it as a business, maybe as a one time at a farmers market, you may want to consider adding liquidity. This is where the company behind Phoenix will add a bunch of inbound liquidity in the amount you select. Looks like they charge 1% plus the miner fee to have the liquidity for a year. And I can select between 100,000 sats and 10,000,000 sats liquidity.

Nice feature if you find yourself a sour to make a lot of sales and didn’t prepare the liquidity ahead of time.