See also here a video tutorial how to use Electrum with Lightning Network
#726307
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11 sats \ 1 reply \ @nym 18 Oct
@DarthCoin when using Electrum LN, is it best practice to use a new wallet/seed just for the LN wallet, and keep on-chain totally separate?
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0 sats \ 0 replies \ @DarthCoin OP 18 Oct
- Any LN wallet must have an onchain "link" otherwise cannot open / close channels. So any Electrum you use with LN will always have that onchain wallet.
- Always separate your stash in 3 leveles: hold, cache, spending. You will not use an onchain wallet from your hold (long term) wallet to open LN channels. NEVER. In this case, with Electrum LN, you will use the cache or spending level. I personally use it as cache level, where I do the swaps between onchain - LN and move the funds where are needed.
- Use multiple wallets not just one, on all levels. That means: ok you use Electrum for some onchain only management, coin control, but keep a separate one if you use LN.
YOU MUST THINK LIKE A BANK
https://darth-coin.github.io/beginner/be-your-own-bank-en.html
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