Wallet of Satoshi review: a hands-on guide; beginners can use it in 5 minutes

Wallet of Satoshi Review: A Step-by-Step Guide for Beginners (5-minute setup) ✋⚡

If you've heard of the Lightning Network and thought "it looks difficult," this article will walk you through it step-by-step, from downloading the app to sending coins.

📱 Step 1: Download and Install Wallet of Satoshi

• Go to the App Store or Google Play.
• Search for "Wallet of Satoshi" and tap install.
• Download it according to your operating system.

• Once downloaded, open the application and you'll see this screen:

Note: You can start using it right away, but it's recommended to link your email before use. This is in case of unforeseen circumstances, such as changing phones, accidentally deleting the app, or losing your phone with funds inside, allowing you to access your money.

⚡️ Step 2: Understanding Sending and Receiving Bitcoin via Lightning

 

• Receiving - Sending Bitcoin Lightning network

  • Creating a lightning node yourself (this is a specialized method requiring high expertise, not covered in this article).
  • Through intermediaries that can convert coins for us, such as Fixedfloat.
  • Through exchanges that support Lightning, such as Binance Global, OKX, Kraken, etc.
  • Sending and receiving through other Lightning wallets, such as Wallet of Satoshi, Muun Wallet, etc.
• There are several ways to send and receive Bitcoin via the Lightning network, such as:

Initially, I will recommend methods for beginners to try: transferring between Lightning wallets and transferring from exchanges that support the Lightning network.

 

Sending and Receiving via Lightning Wallet

 

Receiving Bitcoin with Wallet of Satoshi

1. Go to the Home screen and tap "Receive" to create a Lightning Invoice.

After tapping "Receive," the Lightning Invoice screen will appear.

• QR code: This is the Lightning Invoice used to receive Bitcoin.
• xxx@walletofsatoshi: This is a Lightning address (similar to an email address for receiving money) used to receive Bitcoin, just like the Lightning invoice above. It's more convenient but can only be used with supported applications, such as Wallet of Satoshi, or for zapping via Nostr.
• ⚡️: Receive Bitcoin via the Lightning network.
• ₿: Receive Bitcoin via on-chain.

Note: For convenience, if the application shows lnbc… or LNURL… or a QR code, it will be more convenient and versatile to use.

2. Provide the QR code or Lightning address to the sender.

 

Sending Bitcoin with Wallet of Satoshi

1. Tap the "Send" button on the home screen.

2. Choose the sending method:
• Scan QR code
• Enter Lightning address/Invoice

3. After choosing the method, enter the amount of Bitcoin you want to send and tap "Send."

How to send and receive Bitcoin via an Exchange that supports the Lightning Network (example using Binance Global)

 

Sender (Binance side)

1. Tap "Send" on the home screen -> On-chain withdraw -> Bitcoin.

2. Paste the recipient's Lightning invoice/QR code -> Select "Lightning Network" as the network -> Then "Withdraw."

Note: The withdrawal amount will automatically appear, corresponding to the amount the recipient wants to receive, which is determined during the invoice creation or receiving process.

 

Recipient (Wallet of Satoshi side)

The receiving method is similar to receiving Bitcoin via a Lightning wallet as described above, but with a slight additional step. This is because in some cases, such as Binance Global, when the sender wants to send, the invoice needs to specify how much the sender must send to the recipient.

To do this, after tapping "Receive," tap "Amount," enter the desired amount of Bitcoin, and then use the QR code/invoice with the amount entered.

I hope this article is useful for those who haven't tried using a Lightning wallet yet. After trying it, please let me know how you feel or if you encountered any issues. Thank you.

 

⚠️ Things to know before use

Wallet of Satoshi is not a self-custody wallet.
This means "you do not hold your own private keys."
 Therefore, it should only be used for testing, sending tips, or storing small amounts.

⚠️ Important Note

This article is not investment advice. Investors should study and understand the risks before making a decision. This article is for educational purposes only. Thank you for reading to the end. // Admin T 🟠