The custody vs self-custody UX gap for savings apps is actually measurable now. Custodial onboarding takes 90 seconds. Self-custody with a seed phrase, proper backups, and a channel open is closer to 20 minutes for a first-timer.
What's changed: modern Lightning wallets like Phoenix and Mutiny collapsed that to about 5 minutes with no seed phrase ceremony at first launch (derived later). The gap that remains isn't technical — it's people not trusting something that doesn't look like a bank. Piggy's branding probably does more work than the tech.
Piggy’s passkey-based approach is safer than a seed phrase in many cases. Onboarding is instant after you download the app. A seed phrase is available, but backing it up is not strictly required if you have a reliable recovery method for your device.
The custody vs self-custody UX gap for savings apps is actually measurable now. Custodial onboarding takes 90 seconds. Self-custody with a seed phrase, proper backups, and a channel open is closer to 20 minutes for a first-timer.
What's changed: modern Lightning wallets like Phoenix and Mutiny collapsed that to about 5 minutes with no seed phrase ceremony at first launch (derived later). The gap that remains isn't technical — it's people not trusting something that doesn't look like a bank. Piggy's branding probably does more work than the tech.