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Lightning as a payment option is becoming more and more important and more and more users are looking for a suitable Lightning wallet.
In the following article, we will briefly introduce the most important Lightning Wallet at a glance and go into the most important functions of a Lightning Wallet.
After the short description you will find a link to the detailed description of the different Lightning Wallets.
In the detailed description, the special features of the respective Lightning Wallet are presented. You will learn how to install, configure and use the respective Lightning Wallet for Lightning payments.
Lightning wallet for the smartphone
Anyone who wants to receive Lightning payments or use them to pay merchants does not need to run their own Lightning Node.
There are Lightning Wallets that are predestined for interaction with your own Lightning Node or run on a computer. We focus on Lightning wallets on your own smartphone, which are suitable for receiving and sending Lightning payments.
These Lightning wallets work in the same way as the Bitcoin wallet. I install the Lightning Wallet and load some Satoshi on this wallet.
With this Lightning credit I can then pay at any retailer that accepts Lightning.
If you are a user who wants to try Lightning and pay or receive Lightning with it, the following Lightning wallets for your smartphone are recommended:
- Phoenix
- Wallet of Satoshi
- Breez Wallet
- BlueWallet
Lightning Wallet with own Lightning Node
If you run your own Lightning Node, you want to manage this Lightning Node comfortably with your smartphone app and execute Lightning payments. Lightning Wallets are recommended here, with which you can dispose of the Lightning credit on your own Lightning Node.
If you run your own BTCPay server, then you automatically have your own Lightning Node. Then it is recommended that you install the Bowser Extension Joule in your Internet browser. You can then use the Joule Browser Extension to make Lightning payments directly at other websites or log in to Lightning sites that use Joule as a login.
To make Lightning payments with your smartphone using the Lightning Node on the BTCPay server, ZAP Wallet is recommended.
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- Joule Wallet (Browser Extension)
- ZAP Wallet (Web and Smartphone)
External custody vs. self-custody
or in english:
Custodial vs. Self Custodial / Non-Custodial
A key differentiator for Lightning Wallets are Custodial and Non-Custodial Wallets.
With custodial wallets, the wallet, and thus the funds, are held in trust by the wallet provider. The private key and thus access to the credit is held by the wallet provider.
With a non-custodial wallet or better self-custodial, you manage the private key yourself and on your own responsibility. As the owner, you only have access to the balance on the wallet yourself.
The advantage of a custodial wallet is that it is easier and more convenient to use. With a non-custodial wallet, the user has to go through a lengthy sign-up process and keep the private key securely on their end.
Both variants have a justification. Since Lightning mainly uses smaller amounts (micropayments), a custodial wallet can be used without hesitation.
If you run your own Lightning Node, you manage your Lightning yourself and are therefore self-custodial.
If you are a pure user and do not operate your own Lightning Node, you can choose between custodial and non-custodial solutions. With a non-custodial solution, the 12 or 24 words of the passphrase (seed) must be written down and stored securely. This is not necessary for a custodial solution.
Lightning Wallet Overview
Wallet
System
(Self)-Custodial
(no) own node
Bitcoin Lightning Wallet
Android
Self-Custodial
no own node required
Joule
Web Browser Extension
Self-Custodial
own node required
Phoenix
iOS, Android
Self-Custodial
with and without own node
Phoenix Lightning Wallet
The Phoenix Wallet was developed by the company ACINQ. It is a non-custodial wallet which runs on Android & iOS smartphones. What makes Phoenix Wallet special is the simplicity of its user interface. Although it is a non-custodial wallet, the user does not have to worry about anything. The Phoenix Wallet handles channel management, provides sufficient liquidity and can be used for Bitcoin and Lightning payments. The user does not have to worry about whether the recipient now displays a QR code for Bitcoin or Lightning payments.
The Phoenix Lightning Wallet is an absolute recommendation
BlueWallet
BlueWallet was one of the first Lightning wallets on the market. With BlueWallet you can manage Bitcoin and Lightning. BlueWallet is a non-custodial wallet and is available for iOS as well as Android.
More information about the BlueWallet
Breez Wallet
Breez is a Lightning Wallet for iOS and also Android. Breez Wallet can be used to manage Bitcoin and Lightning. The Breez Wallet has a POS function. Thus, merchants can use Beez Wallet to accept payments directly in-store.
More information about Breez Wallet
Wallet of Satoshi
Satoshi’s wallet is a perfect example of a self-explanatory wallet. They call themselves the simplest Lightning Wallet in the world. The Wallet of Satoshi supports Lightning only and is available for iOS and Android.
More information about the Wallet of Satoshi
Zap Wallet
The Zap wallet was developed by Jack Mallers in October 2017. ZAP Wallet is available as a mobile wallet and for Windows, Mac and Linux computers. With the ZAP Wallet you connect to your own node. ZAP Wallet also supports Strike. Strike can be used to link one’s bank account or debit card to pay merchants with bitcoin using the balance in one’s bank account, if the merchant only accepts bitcoin.
More information about the ZAP Wallet
For more information on Lightning Wallets, visit Coinpages Lightning Wallet.
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