There are various Lightning Network (LN) wallets available, and it's not always easy to know which one is best suited to your needs. So, if you want to pay with Bitcoin instantly and at a lower cost, you'll definitely need a wallet compatible with the Lightning Network (LN).
Depending on your needs and your familiarity with cryptocurrencies, some wallets will be more suitable than others. Likewise, know that if you do not know the LN network well, there is no difficulty in using it.
Lightning network wallets work exactly the same as other payment apps you own. Some have additional features and may have other uses and connections.
However, if you want to pay in bitcoin, send and receive btc and not have to pay significant fees, then typically an LN wallet is what you need.
We have compiled a list of the most advanced wallets on the market. You just have to choose the one you prefer.
Should you choose a custodial or non-custodial wallet?
Before providing you with the list of the best wallets that support the Lighting Network, we must remind you of the fundamental differences to know.
To choose a wallet (beyond the services provided, the quality of the interface, etc.), it is above all the custodial or non-custodial characteristic that must be understood.
A custodial wallet: A custodial wallet (custodian) is like an exchange platform such as Binance or Kucoin. These platforms hold your private key and are responsible for the security of your funds. However, only you have permission to make transfers. You can recognize a custodial wallet when you are asked to register with your email address.
A non-custodial wallet : This gives the user complete control over their funds. Therefore, it's easy to identify a non-custodial wallet. You will need to keep your private key secure. Do not share it , as this private key is what allows you to manage your account.
Should you prefer custodial or non-custodial wallets? In absolute terms, it is preferable to choose a non-custodial wallet because you remain in control of your funds and to remain confidential. However, these wallets generally do not have the ability to convert cryptos to FIAT and are limited in their uses. In fact, by default, you can choose custodial wallets for more complete use.
1/ Wallet of Satoshi: Ideal for beginners (custodial).
Satoshi's Wallet is a fully custodial Lightning Network wallet, making it very easy to set up. It can be a good starting point for those new to Lightning payments. It's also the most widely used (most downloaded) Lightning Network wallet and one of the oldest Lightning wallets.
However, Wallet of Satoshi is a custodial wallet, meaning you don't hold your keys. We especially recommend it for beginners who aren't yet comfortable protecting their seed phrase themselves.
You can buy bitcoins directly through the app and also convert your bitcoin to FIAT (euros/dollars). Wallet of satoshi is available on iOS and Android.
2/ Blue Wallet: complete non-custodial wallet
BlueWallet is a non-custodial wallet with several interesting features. Of course, you can make payments on the LN network and therefore benefit from reduced transaction fees. BlueWallet is available for iOS and Android.
Other advantages of using BlueWallet include the ability to create multi-signature wallets and secure wallets with your own keys. This makes it a very secure wallet where you remain in complete control of your funds.
Blue Wallet is custodial by default, but you can connect it to your own node and transact yourself. This is clearly an app that we recommend.
3/ Phoenix: The minimalist wallet at lower costs
Phoenix Wallet, created by ACINQ , is a company specializing in the development and continuous improvement of the Lightning Network . For example, the company owns the largest Lightning Network node. In 2019, they launched the Phoenix non-custodial wallet, which allows you to send and receive bitcoins on the LN network.
The Phoenix wallet is simple to use and therefore allows you to pay easily at a lower cost, thanks to the Lightning Network.
We can say that it is a very minimalist lightning network wallet with a very simple and pleasant UX to navigate. At the time of writing this article, the Phoenix wallet available on iOS and Android.
4/ BottlePay: An app suitable for merchants
The Lightning Network BottlePay wallet is a comprehensive app that allows you to send and receive BTC on the LN network. It also allows you to instantly convert BTC to euros.
BottlePay is a useful application for both individuals and professionals. For merchants who want to accept Bitcoin payments , it remains a good option. (Incidentally, for those who want to run their own nodes, BTCPay Server is another option ). BottlePay is very easy to use for everyone involved. No complex configuration or installation is required. It's also possible to convert BTC to British pounds and euros.
5/ Zap: An autonomous wallet (beta version currently)
Zap is a non-custodial, open-source wallet . Launched in 2017, its founder and CEO is Jack Mallers . The startup raised over $3,5 million in its seed round. Zap garnered significant attention because the company immediately sought partnerships with VISA and other major players in the banking and payment industry.
Zap is a Lightning Network wallet that can also connect to your own node network. Zap is available for download on iOS, Windows, Mac, and even Linux. Zap is linked to the Strike app , enabling you to buy BTC on the Lightning Network. You can also link a debit card to pay basic bills with Bitcoin.
However, at the moment, Zap is still in beta.
Bonus / Breez: Lightning network wallet for professionals
Breez is much more than just a wallet; it's also designed for professionals. It allows you to send and receive bitcoins instantly over the Lightning Network. Furthermore, Breez lets you set up a payment address if you're a business.
This remains interesting because Breez is a non-custodial wallet and therefore leaves users in control of their funds.
Final word on Lightning network compatible wallets
We've provided a non-exhaustive overview of the LN wallets currently on the market. Keep in mind that there are others, but we wanted to present the most popular wallets of this type. We could have mentioned HolyTransactions, for example. You're sure to find the app that suits you best. Don't hesitate to test the apps before making your choice.
You can also check your current crypto wallet to see if it supports the Lightning Network. More and more platforms and applications are supporting the Lightning Network.
If you see any new LN wallets that we should mention in this list, let us know in the comment section below.
Note: There is no financial advice in this or any other article on this site. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.
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