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Ask SN : Is it possible to convert Bitcoin on-chain transaction in LN wallet?
30 sats \ 8 comments \ @adexmakai4211 19 Oct 2023 bitcoin

I have been wondering about the possibility of this feature. If it's really possible to automatically convert Bitcoin on-chain transaction to Satoshi on getting to any lightning wallet.

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23 sats \ 2 replies \ @TheWildHustle 19 Oct 2023

You can convert on chain to lightning in Mutiny Wallet, wallets like muun, cash app and strike have a unified btc balance that can send and receive from either.

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0 sats \ 1 reply \ @adexmakai4211 OP 19 Oct 2023

Interesting. But why is Mutiny demanding for a certain amount of sats to be deposited for new users. That's the reason why I haven't been using Mutiny wallet.

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0 sats \ 0 replies \ @Sixjhxnxznsb 19 Oct 2023

AFAIK Mutiny does not have it's own LSP but relying on Voltage to provide JIT channels for the users that needs channel on-demand

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22 sats \ 2 replies \ @Sixjhxnxznsb 19 Oct 2023

Yes, there are few ways to do that :

  • Phoenix Wallet. Read the update news for better details. They will charge onchain txfee (+1k sat first time) and add little bit of inbound liq to your channel
  • Blixt Wallet. Red the features list for more details. No extra fees but you get no extra inbound liq from their Dunder LSP
  • WoS & Blink charges fees for their swap sevices
  • Breez also works but the app uses Boltz as their swap partner in the beackground
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0 sats \ 1 reply \ @adexmakai4211 OP 19 Oct 2023

I see! That's where the 0.5% on WOS come in place. Now I understand why Mutiny requested for that sats amount
before first deposit. Thank you.

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0 sats \ 0 replies \ @Sixjhxnxznsb 19 Oct 2023

Zeus Wallet is getting close to this territory as well, they are on their alpha test rn, i assume they will have JIT channels or submarine swap like the others

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21 sats \ 1 reply \ @DarthCoin 19 Oct 2023

Please read and learn more about how LN works.

  1. bitcoin onchain are the same sats on LN.
  2. On LN the sats are actually delayed txs that are not yet broadcast.

So there's no such thing as "convert" sats from onchain to LN. What you wanna say is a submarine swap from onchain into a LN channel.
Resources:

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0 sats \ 0 replies \ @adexmakai4211 OP 19 Oct 2023

Thank you. I learnt something in your comment.

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