When you hear people say Wallet of Satoshi Lightning makes transactions with Bitcoin – BTC easy do believe it or you doubt that? Well, I am going to tell you some reasons why Wallet of Satoshi makes sending or receiving Bitcoins easy and effective with less charges.
What is Lightning?
Lightning is a Bitcoin-based open-source retail payment method. Its major goal is to make payments that are much faster and less expensive than conventional Bitcoin transactions while maintaining the same level of protection.
It’s utilized for the kinds of payments you’d expect to see when shopping: quick, inexpensive, and dependable. Micropayments are also possible, allowing for the transfer of incredibly small sums of money, such as one ten-thousandth of a cent at a time.
Before you keep reading you may also want to read; Bitcoin vs Litecoin
What is Wallet of Satoshi?
Satoshi’s Wallet is an iOS and Android software that allows you to send and receive Lightning payments.
It’s a custodial wallet with no settings and a focus on simplicity and the best possible user experience. It can be obtained at walletofsatoshi.com using the provided links. Simply download and install the app and you are on the Lightning Network!
What is Satoshi?
The lowest unit of Bitcoin currency recorded on the block chain is a satoshi. It’s a one-hundred millionth of a bitcoin (0.00000001 BTC). The unit was named after Satoshi Nakamoto, the original founder of Bitcoin.
Where Can I Use Lightning?
You are still early, but the list is growing all the time. You can:
- Pay bills or withdraw AUD at Living Room of Satoshi
- Find online stores that accept Lightning at Lightning Network Stores
- Spend at Australia’s network of Lightning retailers (cafes, car washes, restaurants etc) TravelByBit merchants
- Unlock articles to read at Y’alls
- Browse the best new Lightning Apps at Lapps.co
- Raise funds at tallycoin
Can You Make Payment to A Regular BTC Address?
Yes, of course! You can pay a Lightning Invoice or send directly to an on-chain Bitcoin address with Wallet of Satoshi.
When you scan a QR code (or put it into your wallet), your Satoshi Wallet will automatically recognize the type of payment and produce the appropriate transaction type for you.
Can You Buy Bitcoin with Your Satoshi Wallet?
Yes, in over 160 countries, you can buy Bitcoin directly from the Satoshi Wallet app! On the main screen, tap the green “Buy Bitcoin” button and follow the directions.
What Are the Fees of BTC Transactions on Satoshi?
There is a fixed fee applied when sending BTC ‘on-chain’ payments. This fee varies depending on the current state of the Bitcoin Mempool, and will be quoted to you before you confirm the payment. They have no control over the Bitcoin Miner Fees and at times, it can be relatively expensive to ensure a transaction is included on the blockchain