I use wallet of satoshi for convince and for tips. Well, I use tipcards.io that teaches people how to use WOS.
I also use it for zaps.
I know it's non-custodial, so whatever sats I keep in that wallet has some rug-pull risk. Some dude at a conference(I wish I remembered his name) said he keeps up to a thousand bucks worth of bitcoin on WOS because his phone cost about a thousand bucks. He said if he lost his phone, he would be pissed off, but it's not the end of the world. He could buy another phone. The same is true if WOS rug pulled 4 million sats or whatever, he would be pissed, but he could still replace the sats.
I hashtag heart this idea. 🧡
Of course, you wouldn't want to put your life savings on WOS and if you're on stacker.news, I'm sure you know this. The danger is in ignorance. I think we need to do a better job of informing neophyte bitcoiners of this risk.
I've also been doing a deep dive on Mutiny wallet. It has potential. If they implement lightning addresses, I'll stop using wallet of satoshi. The nostr stuff is cool and you can make automatic monthly payments. I'm still researching it though.
That's my two sats.
Just to prevent further confusion, WoS is custodial:
Custodial = They hold and control your keys
Non-Custodial/Self-Custodial = You hold and control your keys
We need better, less confusing terms.
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0 sats \ 1 reply \ @duvel 14 Apr
Mutiny wallet is non-custodial, but if you're using Mutiny wallet and their servers they can still access your funds, I think. If you use Mutiny wallet with your own server then you're truly non-custodial.
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They cannot access your funds, but they can see what addresses and transactions your wallet is querying for. So it's more of a privacy concern if you're using their servers.
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