Why not use Wallet of Satoshi? 🤔
This is totally unacceptable to us 😲
Phoenix wallet fees:
A payment of 100 sats
Fee = 4 sats
A payment of 500 sats
Fee = 6 sats
A payment of 10k sats
Fee = 44 sats
We have migrated our wallet to our node's wallet using nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5.
Discussion
Wallet of Satoshi is a custodial wallet meaning they're ultimately in control of your funds.
We MUST be in total control of our own funds at all times that's why WOS is not even considered.
You should do the same with your funds.
Wait .. you mean wos is not self custody? It's same like exchanger ( CEX ) right? 🤔
It's like an exchange in the sense that both hold the keys to your funds.
So as long as your funds are with them, these funds are at risk of loss, theft, freezing and confiscation.
Mmmm interesting.. now maybe I need to learn more about wallet. 😳
There's only a few choices for self-custodial lightning wallets: Phoenix and Breez (can't remember if there were others).
Great information... I will look at it. Safe and stacking Sats it's new way to be freedom 🤘🏼
Mutiny too now. Also let’s not forget bluewallet can still do lightning self custodially, as well as import other wallets like alby or lnbits using lndhub
🎯
Actually their is a lot more but the most user friendly for beginners is Phoenix.
You have to keep in mind that sels custodial LN even with Phoenix comes with its own little challenges.
You have to understand a bit how channels and liquidity work to avoid paying to much fees. And you are right fees a high on Phoenix too (0,4% now). But it worth it compared to a custodial solution IMO
0,4% is « a lot » but very acceptable
-Zeus with Olympus LSP is a good alternative but it’s in beta I think right now available only to supporters.
-Breez is ok but much less reliable compared to Phoenix IMO
-Bitkit will be great in the future bit it is not ready now, to many bugs.
-Blixt wallet, and OBW are for advanced users
-MUun wallet is shady, nobody knows it you really have the custody of funds, and it doesn’t work in a high fees environment
To conclude I’d say stick with Phoenix if you are a beginner, just try to open a big enough channel at first to avoid paying new on-chain fees each time you lack inbound liquidity.
Blixt 👌
Yep, that one too👍
We still haven't tried it so we have no knowledge of it.
Another one that just came to mind is Zap wallet.
If you have access to the Zeus Olympus alpha I'd say don't bother with Blixt, having used both Olympus is the better wallet, it basically builds on the same concept but adds more functionality and a better UX, but if you're not in the alpha yet it's worth trying out Blixt, it's a nice middle ground between a full node and a light node - lots of customisation and you can open channels to any nodes you want.
We're using the current version of Zeus and it's pretty powerful as long as you have the right connection. We'll just wait for the beta release.
Zeus ?
In any way, the best way is your own LN node 🙂
Zeus is different because it needs to be connected to other wallets/nodes. But the new upcoming release will change that.
Yes, thanks for the confirmation!
Actually, I use Zeus with my node and their recent initiatives puzzled me a little .
