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Maximum Sats you will hold in an LN custodial wallet?
205 sats \ 16 comments \ @Coinsreporter 17 Jul lightning
I understand it's a bit subjective because risk tolerance and utility for everyone is different. But as you know factors like moving LN to On chain is not so cheap and for some or the other reason we sometimes use them.
Here I wanna know or reach a consensus for a number which most stackers say is an upper limit say "enough is enough" to hold Sats in a custodial LN wallet.
Here are your options...
Upto 50K Sats23.8%
Upto 100k Sats19.0%
Upto 200k Sats19.0%
Upto 500k Sats14.3%
Upto 1 Million Sats0.0%
More than 1 Million Sats9.5%
Not at all14.3%
21 votes \ 14h left
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171 sats \ 1 reply \ @beameduplol 17 Jul
Personally I see no point to using a custodial Lightning wallet when a wallet like Pheonix exists. You have your own seedphrase, and there is no BS attached to it. Just receive and send. Notes feature for convenience, that's it, no?
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0 sats \ 0 replies \ @Msd0457890 17 Jul
I also use it and have my channel, with plans to increase my liquidity, but I also use different LN wallets.
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20 sats \ 5 replies \ @justin_shocknet 17 Jul
Self-custody doesn't become economically viable until 200k or so minimum, 500k more realistically. That's still a very low bar for instant settlement and onboarding.
Pretty sad that there's so many fake L2's and scam wallets poisoning the ecosystem over what amounts to a de minimis service credit.
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0 sats \ 4 replies \ @Coinsreporter OP 17 Jul
Thanks. Any recommendation for self-custodial wallets?
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20 sats \ 3 replies \ @justin_shocknet 17 Jul
Run a lightning.pub then connect shockwallet to it
You'll then be the custodian, invite friends family customers etc
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0 sats \ 2 replies \ @Coinsreporter OP 17 Jul
I'm not a technical guy to understand code and the process. A simple wallet that gives me control over my funds should be enough for me.
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20 sats \ 1 reply \ @justin_shocknet 17 Jul
You can use shockwallet in boostrap mode for the simpler UX immediately. Eventually, once your balance is viable, it'll spin up a cloud node behind the scenes with full automation, enabling you to invite people to share access to it. Invites are just an nprofile that connect the wallet to the node over Nostr.
This spreads the inevitable costs around, but keeps the trust local within families/social circles/small businesses.
It's already pretty simple if you want to do this, if you can buy a linux VPS and copy paste literally one line of code you're good to go.
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0 sats \ 0 replies \ @Coinsreporter OP 17 Jul
Thanks. I'll give it a try.
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20 sats \ 5 replies \ @denlillaapan 17 Jul
voted for 200k since I'm OK holding up to about 100k each on Alby and Primal. But even that is pushing it... very iffy, very maximum... and I'm likely to withdraw/move well before I hit that maximum
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33 sats \ 3 replies \ @ek 17 Jul
Alby is non-custodial
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0 sats \ 2 replies \ @denlillaapan 17 Jul
um yes, fine... I suppose? It's all very confusing and I have some keys and backups blah-blah but my confidence is actually being able to recover is nooowhereeee near e.g. Phoenix or hardwallets.
...so I'll count it anyway
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0 sats \ 1 reply \ @ek 17 Jul
I have some keys and backups
If you think you have sats on Alby but did not setup Alby Hub, you don't have sats on Alby. They turned into credits on Jan 3, 2025:
9. Fee Credits If you failed to connect your Alby Account with self-custodial wallet such as Alby Hub, you will be unable to send and/or receive any transfers. As of January 3, 2025, all funds stored in your Alby Account before that date were added to your account as free credits. [...]
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0 sats \ 0 replies \ @denlillaapan 17 Jul
yes, I set that up, thank you very much. That's what I said above
P.S.: it was a whole mess and I was very mad, as you can imagine
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0 sats \ 0 replies \ @Coinsreporter OP 17 Jul
Appreciate the honesty. Thanks for your vote.
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0 sats \ 0 replies \ @hasherstacker 17 Jul
Maximum would be 21k sats. But normally I keep less than 10k in a Lightning Network account. With the self-custodial wallets already working perfectly fine, I wouldn't let custodial service hold more sats than I can afford to lose.
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0 sats \ 0 replies \ @0xbitcoiner 17 Jul
related #454517
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