This, and send at least 300k sat to fully utilise constant 3k sat fee for on-the-fly channel creation (when situation with on-chain fees will be back to normal) and switch-off automatic on-the-fly channel creation, Android only
If your channel isn't large enough to handle your typical transaction, you will need to open another, larger channel to accommodate your needs, and pay another 3000 sat Phoenix fee and miner fees, whichare very high right now .
His second point regarding turning off on the fly channel creation gives you the power to decide when and if you want to open a channel, and thus avoid paying unnecessary fees.
exactly and because there is 1% fee for channel creation, but not less than 3k sat fee so you pay 1% fee only in case of >300ksat (and e.g. 3% in case of 100k sat) yet another proof: the bigger the better, channel of course ;)
Lol was going to chime in and say phoenix wallet but looks like that's the consensus here already. Just know that you are still using third party node for transactions . best option is always to run your own node.
Not judging tho as opening and operating channels is a big headache I haven't cracked yet.
Yes in the sense that you do hold your keys and your end of an actual channel. However:
ACINQ does the routing, so you have no privacy and they can in principle refuse to process your payment
Like with any other Lightning channel there's a theoretical possibility of a fraudulent settlement that you need a watchtower to defend from. IMHO that is not a concern because if ACINQ does that and you manage to open the wallet at the right time, you'll expose them to the whole world.
Breez does routing on the phone so no issue there (except unencrypted backup to Google by default). But of course if your phone hasn't finished downloading the graph, your routing might misbehave and your payments might fizzle. There are tradeoffs everywhere.
In my experience OBW has the better balance between features, UX and costs. It also offers hosted channels (custodial) to receive a payment with an empty wallet.
Phoenix. Easy to use and self custody.
This,
and send at least 300k sat to fully utilise constant 3k sat fee for on-the-fly channel creation (when situation with on-chain fees will be back to normal)
and switch-off automatic on-the-fly channel creation, Android only
Can you go into why you should do these things? Here are my assumptions:
If your channel isn't large enough to handle your typical transaction, you will need to open another, larger channel to accommodate your needs, and pay another 3000 sat Phoenix fee and miner fees, whichare very high right now .
His second point regarding turning off on the fly channel creation gives you the power to decide when and if you want to open a channel, and thus avoid paying unnecessary fees.
exactly
and because there is 1% fee for channel creation, but not less than 3k sat fee
so you pay 1% fee only in case of >300ksat (and e.g. 3% in case of 100k sat)
yet another proof: the bigger the better, channel of course ;)
Lol was going to chime in and say phoenix wallet but looks like that's the consensus here already. Just know that you are still using third party node for transactions . best option is always to run your own node.
Not judging tho as opening and operating channels is a big headache I haven't cracked yet.
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Yes in the sense that you do hold your keys and your end of an actual channel. However:
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Breez does routing on the phone so no issue there (except unencrypted backup to Google by default). But of course if your phone hasn't finished downloading the graph, your routing might misbehave and your payments might fizzle. There are tradeoffs everywhere.
Use Breez IMO
that's a bit contradictory, but you can try https://phoenix.acinq.co/
In my experience OBW has the better balance between features, UX and costs.
It also offers hosted channels (custodial) to receive a payment with an empty wallet.
Blixt is great too, but a bit more complex.
Second that
I like OBW. They need more recognition
In addition to Phoenix, I would advise OBW and Valet wallets. These are forks of the original SBW wallet, which is no longer maintained.
Феникс. Простота использования и самообслуживания.
отвечать
I've had nothing but issues with phoenix so far.
Do I need to deposit on chain to create a new channel? Or can send via lightning and create a new channel?