Looks very easy! Try this
Discussion
Yes! This is what I started watching. A stupid question, but say I want to purchase 500 dollars worth of bitcoin. I select fiat payment method of strike (and, is this safe?). I then use my alby lightning wallet tk “lock” up the funds for the transaction. Then do I pay from strike afterwords when it goes through? And then say I want to take that bitcoin from the alby channel and put it into cold storage. What is the best practice to coordinate all of this? I’ve never done it before so I thank you for having the patience to put up with my ignorance here
Re: paying with strike — yea, if that’s the payment method you chose, then that’s how you would send fiat to your trading partner.
If by safe you mean private, then yes, relatively so. There’s no public correlation of your fiat spend to your Bitcoin stack. Of course Strike knows you sent money to someone, and that person knows of the trade, but its far safer than a centralized exchange which can be leaked/hacked and tell the whole world of criminals that you have a fat stack of sats and make a good target for home invasion and robbery.
If by safe you mean “avoid scammers” then yes, again, relatively so. The escrow system punished bad actors and it seems to do a decent job on that.
To go from Alby to cold storage, anything swapping service that offers Lightning and on-chain would do the trick. Aqua Wallet, Boltz, Flyp.me all seem pretty solid
Thank you brother 🤘🏼
Is this how you personally purchase your btc?
Another question: receiving the purchased btc via lighting to alby, and then sending to strike, and then to cold storage. Does this make sense? Where is the weak link in this? What would be a better way to do this? One could also just have the bitcoin traded/bought on RS sent via on-chain (but that does have the swap and miner fees included, correct?).
You don't need to go through Strike here, just swap from lightning on Alby to onchain
I can send onchain from nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm ?
Does that close a channel or is it a submarine swap?
How would you send from Strike to cold storage?
You can close channel, but probably better option is to swap with some 3rd party like Boltz or Robosats.
PS From the next release you should find inhouse swaps in the Hub 😉
Yep, used boltz very easy.
And hell yeah looking forward to that update! When can we expect that?
Hopefully this month!
Don’t send your KYC-free sats to strike! That will auto-kyc them and associate them with your identity. Replace strike with Boltz (or apparently you can swap directly within Alby)
nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm how do we do this?