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2 sats \ 10 replies \ @DarthCoin OP 1 Dec \ parent \ on: Green wallet - new option to instant buy BTC bitcoin
hahaha yes, this option definitely is not for you in Cuba 😂😂
btw, did you tired Green wallet LN ? It could be an option for you guys down there, with your high latency internet.
Is not a bad LN wallet.
Here is a guide
https://darth-coin.github.io/wallets/getting-started-greenwallet-en.html
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Green it should sync fast, like Phoenix. Also you do not have to deal with managing LN channels, liquidity etc. read carefully that guide before you start using it.
Now I'm going to explore Phoenixd on the laptop
Good, on top of that you can add a Alby Hub and create accounts for family and friends, and they can use it with Alby Go, a simple mobile app companion for Alby Hub.
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SURPRISE!!!!
I opened Greenwellet without VPN!!!!
Now yes. Because I could see in the guide that it uses a system similar to Phoenix with the ACINQ node. Blockstream allows opening the channel with direct deposit in the Lightning Network.
So we have another option. Thanks friend for the guide.
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I will strongly suggest, especially in your case, to not make first a small deposit.
Better accumulate more sats into another LN wallet/custodial account and after that move them to Green.
It works same way as Phoenix, each time you deposit more sats and you do not have enough "space" in that channel, it will expand the channel but with a fee.
Instead opening a bigger channel, let's say 200-300k it will give you more space available, once you start spending from there and will not pay many times the fees.
I know very well what it means for you even 10k sats in fees.
Here is the guide in Spanish if you want to share it with other fellow cubans.
https://darthcoin.substack.com/p/comenzando-green-wallet-lightning
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Friend @DarthCoin, I live in a cursed country. Remember that I recently told you that GreenWallet opened without a VPN, something strange for me, because it is common that we have access to fewer and fewer services, so it should not happen that someone who regulated us, like Blockstream, deregulated us. Well, I have to use a VPN, and the rest is very similar to Phoenix. So I will continue with the good old Phoenix, until ACINQ allows it.
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You know better what and how to use there. I am just presenting you the details so you can take the right decision before getting stuck in a bad situation.
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Brother, I am grateful for the advice and suggestions you always have to help me. It is a real shame to live here in this place where everything is a complication. But well, I did tests with the Green and even in one aspect it seemed more interesting to me than Phoenix, it is that when opening the channel with direct deposit through the Lightning Network, the cost is fixed at 2500 SAT, in Phoenix the cost is 1% of the deposit + mining fee. When I opened the channel in my Phoenix I took advantage of a quiet moment with a fee of 2 SAT/vB and it was not so expensive, but in these times of so much movement I have seen openings of more than 3000 SAT. Right now to open in Phoenix with 100,000 SAT, to compare, it would charge me 3284 SAT, in Green 2500, but if I open in Phoenix with 250,000 it would be 4784 SAT in Green it is still 2500 SAT, that is great. In my tests, I'm using Green with a simple VPN, low mobile data usage, and it opens quickly. So it's not that bad. Thanks again, buddy.
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Please be aware of what I was saying. Is not about the cost of first deposit (aka opening a new channel), but about the next deposits, when your inbound liquidity is low.
Phoenix and Green are using the "splicing" method to expand the channel with the next deposits. That means EACH time you pay the fees as it would a new channel opening.
So to avoid that, the first deposit must be bigger so you create from the start a bigger channel with just one time fee.
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oh you still do not have the guides page bookmarked?
https://darth-coin.github.io/wallets/wallets.html
here you have it
https://darth-coin.github.io/wallets/getting-started-alby-hub-en.html
and
https://blog.getalby.com/provide-easy-to-use-wallets-to-friends-and-family-with-alby-hub/
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