A beginner’s path: LN wallets \ stacker news ~bitcoin

343 sats \ 13 comments \ @Carresan 22 May bitcoin_beginners freebie

The road into bitcoin may appear a bit overwhelming for a newbie. Too much information with complex concepts and money involved. First time you read or listen to someone talking about bitcoin, may cause a feeling you are missing half of the information.

At the beginning, you may become obsessed with piling bitcoins though you realise that have to learn a lot before even buying a few sats. In this road, I have been helped by @lunaticoin ´s blog and this has led me to other masters such as @darthcoin .

Listening to episode 131 of Lunaticoin´s blog , where @darthcoin and Karliatto discussed about the different lightning wallets, gave me some insight about the different options to initiate in this path. You can find it in the following link #5941

Also, I have consider @darthcoin guides about lightning wallets (https://darthcoin.substack.com/p/comparacion-lightning-wallets#footnote-1 ) and how to start in lightning (https://darthcoin.substack.com/p/como-empezar-ln ). I found interesting darthcoin´s approach to lightning starting from the bottom. At somepoint during the podcast he mentioned the bottom level as appropriate for grannys and people who does not know anything about bitcoin. I find comfortable at this level right now.

So, considering what I have read and listened, I looked to different wallets to start stacking sats. This is my particular view and it might be wrong, but it is what I have found easy to use and to build up my sats.

Wallet of Satoshi: easiest to use, no KYC, been playing just sending and receiving , testing with bitrefill and, in addition, it has a point of sale where I can introduce diferrent items and earning sats.
Lifpay : also easy to use. I could not find PoS. Asks for an email to register.
Blink : also easy to use, though they ask for a telephone number to register. PoS is possible though it seems they transfer you to a website, not at the app.
CoinOS: I am using IOS so I could not try it. Will try to get an android device so that I could test it.
CashApp and Chivo are not avalaible in my region. Strike is moving to Europe but I could not try it yet.
Zebedee: mixed with games and social interaction, not quite happy to use it.
Muun: comments regarding high fees to use, made me to avoid it.
Walletano: even though it seems easy to use, I found myself less comfortable using it. Other options seem more user friendly.
Bluewallet: I have tried to use it and, following some indications from darthcoin´s guide, I managed to set up a lightning account. However you need to add some funds to start using it.
Telegram options: have not tried.

To sum up, I am fully aware that all of this options are custodial and you do not own your sats. However, as a starting point, to stack sats, some of them are very easy use and it can be a base camp from where building up your empire.

I would be very happy to read your comments about all this. Please consider I am reviewing it only as a beginner. I know that there are other advanced options but I will deal with them once I manage to set some basic points in my path.

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42 sats \ 6 replies \ @Cje95 22 May

Fingers crossed with the FIT21 Act getting ready to be voted on in the House that the Senate finally acts. This would finally give the markets and companies stability with US enforcement and stop companies from leaving

0 sats \ 5 replies \ @Carresan OP 22 May

How do you think it will end up? I am writing from Europe

10 sats \ 4 replies \ @Cje95 22 May

So what is really really good for crypto right now is this is a bipartisan issue meaning there is support from House Republicans and Democrats. More importantly, though is the Senate which has a slight Democrat majority. They are facing several extremely tough races and don't want to make reelection for their party harder. Crypto is much more popular with the youth, a vital base for the Democrats so over the last couple of weeks have really flip-flopped in the Senate to support crypto.

The holdup will be with Sen. Brown in the Senate however he is facing a brutal race and it's 50/50 on if he keeps his seat. He has been against crypto so far but if he comes out against this bill and tanks it this could easily sink his reelection campaign and he/his team knows it.

All of this is to say we should be in good shape. This legislation has been worked on in a bipartisan fashion for roughly 2 years so as long as the Senate Dems don't blow this up which could possibly cost themselves the Senate majority it should pass pretty similar to what the House is passing. I doubt Biden would veto it because of it being bipartisan and Trump running as the procrypto candidate right now.

0 sats \ 3 replies \ @Carresan OP 22 May

Ok thanks. We will see , with politicians you never know.

10 sats \ 2 replies \ @Cje95 22 May

With it being an election year and the House, Senate, and Presidency up for grabs esp with the polls showing how tight the races are the Dems are going to need the youth vote to show up to win and if it doesn’t happen then its going to be terrible for them.

0 sats \ 1 reply \ @Carresan OP 22 May

https://m.stacker.news/32042

0 sats \ 0 replies \ @Cje95 22 May freebie

CORRECTION - The Admin did not threaten a veto on this but rather opposed passage. Again this factors in to the need to save face and attempt to be unified in the party. What is comically funny is that the admin, SEC, and Treasury have been involved in the formulation of this bill. Also when Biden threatened a veto last week against the rollback of a crypto accounting rule he had either 10 or 11 Democratic Senators buck him and vote to roll it back.

Because the Senate has been so against the Admin has to threaten a veto in hopes of stopping the momentum and giving the Senate Dems time to come up with some sort of a Plan B. Its a save face type of move to by his party time. It doesn’t change the underlying issue that there is bipartisan support in the House to execute this Act.

Ironically as well this legislation would give the SEC clear power to decide if something is a security or not. If they chose it is not then it goes under the CFTC which in the way the current law is structured is how it works. If the SEC doesn’t label it as a security then it is out of there hands anyway since that is what they have “control” over.

21 sats \ 2 replies \ @grayruby 22 May

Good post.

My preferred wallets are Phoenix and Zeus. I also like Breez due to how easy it is to swap between lightning and onchain.

100 sats \ 1 reply \ @Carresan OP 22 May freebie

Thank you for sharing your thoughts. Will be covering other wallets as I go up towards intermediate and advanced levels that @DarthCoin mentioned in his guidelines. I have already played a little with Zeus and I like it , though still stacking sats to get there. Pretty much the same for Phoenix. Have not tried Breez yet.

21 sats \ 0 replies \ @grayruby 22 May

Breez is great for logging into SN too. I use that for lightning login but otherwise just use it as a good way to swap from onchain to lightning. Not many wallets offer the ability to send onchain to the wallet and then pay a lightning invoice but you can do that with Breez.

Bluewallet used to be my go to wallet for swapping between layers but they stopped offering custodial lightning wallet that allowed you to do that quite awhile ago.