Lightning is an open source retail payment system built on top of Bitcoin. Its main purpose is to enable extremely fast and cheap payments, much faster and cheaper than regular Bitcoin transactions, while retaining the same level of security.
It is used for the kind of payments that you would expect when shopping; fast, cheap and reliable. It also allows for micro-payments: the sending of extremely small amounts of money, in the order of one ten-thousandth of a cent at a time.
Wallet of Satoshi is a mobile app for iOS and Android that lets you send and receive Lightning payments.
It is a zero-configuration custodial wallet with a focus on simplicity and the best possible user experience. It can be downloaded using the links at walletofsatoshi.com
Simply download and install the app and you are on the Lightning Network!
A satoshi is the smallest unit of the Bitcoin currency recorded on the block chain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit was named in homage to the pseudonymous creator of Bitcoin, Satoshi Nakamoto.
You are still early, but the list is growing all the time. You can:
Of Course! With Wallet of Satoshi you can pay a Lightning Invoice or send directly to an on-chain Bitcoin address.
When you scan a QR code (or paste it directly into your wallet), your WoS will automatically identify what type of payment it is and will create the correct transaction type for you instantly.
Yes, you can buy Bitcoin directly in the WoS app in over 160 countries! Just tap the green "Buy Bitcoin" button on the main screen and follow the prompts.
To ensure you can access your wallet in the event of a broken or lost phone, just be sure to sign into your WoS with your email address. This will allow you to recover your balance and payment history on a new device.
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.
We 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. We strongly encourage all users to send via the Lightning Network where possible for faster, cheaper payments.
When you send a BTC 'on-chain' payment you must pay a miner fee. The size of that fee (and the state of the Mempool at the time) determines how soon a miner will include your transaction in the blockchain. If you or the exchange you sent from chose a fee that was too small, your payment may take many blocks to confirm - potentially hours or even days.
We have no control over this. The exchange or wallet you sent from may have options to expedite the transaction. Please contact them.