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The Bitcoin network struggles with scalability. This makes it harder for cryptocurrency to become a common way to pay since its blockchain can only handle between 7 and 10 transactions per second and users have to pay big fees to make payments.
However, two researchers, Thaddeus Dryja and Joseph Poon, proposed the Lightning Network to allow users to make Bitcoin micropayments off-chain while using the full mainnet's decentralized security model.
Today, the Lightning Network solution makes it possible for both parties to a transaction to send and receive payments instantly while paying low transaction fees. Users can also access additional features on the network.
It is worth noting that some digital wallets have Lightning support. This means that if you want to use Lightning Network transactions, you need to find a wallet that can handle them. This article covers the best Bitcoin Lightning Network wallets and how they work.
Summary
- Phoenix wallet: Best for new users.
- Muun: Best for security.
- Breez: Best for versatility
- Blue wallet: Best for transaction fee customization.
- Wallet of Satoshi: Best for simplicity.
- Eclair: First Mobile Wallet.
- Zap: Best for instant payment.
Phoenix wallet
ACINQ, a French bitcoin company, made Phoenix, a simple Bitcoin wallet, so that users could send and receive bitcoins faster and cheaper. It is a non-custodial wallet that runs natively on the Lightning network, and Android and iOS users can install it on their devices.
The wallet has an intuitive and simplistic design that makes it easy for newbies to start sending bitcoin both on-chain and on the lightning network. Users do not have to worry about channels or switching from on-chain transactions to lightning, as Phoenix takes care of everything under the hood.
Core Features
Phoenix is a simple wallet, but it has a swap feature that lets you send money to both regular Bitcoin wallets and ones that can use Lightning. Even though the fees for lightning transactions are low, the wallet will ask for more fees when it sees a payment to a Bitcoin address that is not on the lightning network.
More so, the wallet is easy to set up as Phoenix handles all technological burdens and manages channels. It is also non-custodial, which means you have control of your private keys and can back them up to restore your wallet when required.
Pros
- Phoenix has a simple interface
- It supports both on-chain and off-chain Bitcoin payments
- There is no need for channel management
Cons
- Lightning fees are higher compared to other wallets
- Data about payment destination and amount leaks to the Phoenix node
Summary
Phoenix hides the complicated parts of using the Lightning Network from its users and gives them a wallet that is easy to use. This makes it well suited for new users.
Muun
Muun is a non-custodial Bitcoin wallet that prioritizes efficiency, convenience, and security. The wallet allows users to make and receive Bitcoin payments on the mainchain and the Lightning network through its neat and simple platform that supports ease of use and safety.
Muun usually supports Bitcoin payments on both the mainchain and the Lightning network, but it is up to the user to turn on and off the chains. Once you have created an account, you can select the “Send” or “Receive” Bitcoin options in the wallet tab and choose whether to use the mainchain or Lightning network.
However, Muun does not yet have a means for users to add or withdraw funds from the Lightning Network. If you do not have any funds on the lightning network, you will need to send them through other wallets first to get some Satoshis on the lightning network.
Muun also has advanced security features that keep your money safe even when you don't have your Muun wallet or device with you. It has three backup options: an email backup, an alternative backup with a code, and an emergency kit with all the information you'll need to get your wallet back if you're not using Muun.
Core Features
Muun lets you send money quickly and cheaply through the lightning network, and it also lets you send money on-chain. Its clean user interface is also very easy to get around, and you can find a separate window for transactions in the wallet tab.
The wallet also has a fee estimator that lets users know exactly how much a transaction will cost. It also has several backup options that let users restore their wallets anywhere and at any time.
Pros
- The wallet supports both mainchain and off-chain payments
- The user interface is simple
- It's available on both iOS and Android devices
Cons
- Users have to use a third-party service to deposit and withdraw funds from the lightning network
Summary
Muun Wallet has top-notch security features that keep your money safe and let you get to it at any time, even if you don't have Muun or your device with you. However, you'll need to use third-party services to send and withdraw your funds from the Lightning Network.
Breez
Breez is a mobile Lightning Network wallet that focuses on user friendliness and simplicity. It is a non-custodial wallet that does not require users to manage their own lightning network nodes, just like Phoenix.
Breez lets users set up channels automatically, and for a one-time fee of 0.4% and a minimum of 2000 SATs, it takes care of all the technical details. Direct Bitcoin deposits and withdrawals from the main chain into your Breez wallet are also possible. When you make a deposit, the funds are automatically moved to your Lightning Network channel.
Furthermore, while setting up the wallet, you will be required to back it up to avoid losing your funds. Also, since the wallet is non-custodial and you hold your private keys, only you can access or restore your wallet.
Core Features
Breez wallet offers features that go beyond supporting Bitcoin payments on the Lightning Network. It has a Podcasting 2.0 hub where you can take part in podcasting and use SATs to help podcasters.
There's also access to lightning apps, a point of sale (POS) feature for merchants, as well as an easy backup through Google. Its support team is also very responsive.
Pros
- The wallet has a neat and understandable interface
- It offers more utility to Bitcoin
- It allows merchants to take advantage of lightning network services
Cons
- Higher fees compared to other lightning wallets
Summary
Along with letting users send and receive lightning payments on the network, Breez has a lot of other features. The platform's users consider it simple yet versatile.
Blue Wallet
Blue wallet is a Bitcoin wallet that aims to make Bitcoin fun and usable. It supports SegWit-enabled Bitcoin wallets and Lightning-enabled Bitcoin wallets for cheap transactions.
The on-chain Bitcoin wallet is non-custodial. Its lightning network wallet, which is between non-custodial and custodial, is referred to as "hosted." Instead of putting a lightning node on every user's device, Blue Wallet uses LNDhub, an open-source plugin that can be used for multiple accounts.
The result of this structure is a low-trust system where users share the same node but have their own accounts. But this trade-off allows the wallet to offer more features than similar wallets.
Core Features
Aside from sending and receiving bitcoin, Blue Wallet allows for fee customization. You can choose a custom fee or choose one of three pre-set speeds and fees: fast, medium, or slow. It also offers instant and cheap payments through the lightning network.
Blue Wallet is easy for beginners to use, and it also has a mode for more experienced users. There's also a marketplace and a browser to help you find and use apps on the Lightning Network.
Pros
- Blue wallet supports SegWit wallets
- It has Lightning network integration
- It employs multi-signature vaults for extra protection
Cons
- Partial centralization for the lightning network
Summary
Blue wallet has some interesting features, such as fee customization, which allows users to set transaction speed and fee. Also, the Lightning Network wallet is partially custodial.
Wallet of Satoshi
Wallet of Satoshi is a mobile app that lets users send and receive BTC on the Lightning Network. It works on both Android and iOS. It is a custodial wallet that supports only Lightning payments.
The Wallet of Satoshi prides itself on its simplicity and ease of use. It is thought to be the easiest lightning wallet in the world because it doesn't need to be set up or configured before it can be used.
After installing and starting the wallet, you'll find all relevant details on the screen. Because it is easy to use, you will figure out right away how to send and receive lightning payments.
Core Features
The Wallet of Satoshi doesn't have a lot of extra features because its main job is to send and receive Bitcoins and Satoshis, which it does very well. You can access instant and cheap lightning payments through the wallet. You can also find merchants that accept payments through the wallet.
Pros
- The wallet has Lightning network integration
- It is very simple to use
Cons
- The Wallet of Satoshi does not let you spend your last few Satoshis as it keeps them for transaction fees
Summary
The Wallet of Satoshi is a great place to start if you are looking for a simplistic wallet for lightning transactions only.
Eclair
Eclair can be used as a normal Bitcoin wallet, and it also lets you send and receive payments quickly and cheaply through the Lightning Network. The wallet was originally called Eclair, but it has since been rebranded as Eclair Mobile.
The Eclair mobile wallet is the first among other Bitcoin Lightning Network mobile wallets to launch on the market, and it shares the same developers as the Phoenix wallet (ACINQ). It is a non-custodial and open-source wallet that runs a stripped-down Lightning node on users' mobile phones. Eclair works out payment routes on the user's device, which is more private than wallets that use third parties to figure out payment routes.
When you use Eclair Mobile as a normal Bitcoin wallet, you can set the transaction fees however you want. Despite a rocky start, the wallet is still one of the best lightning wallets available today.
Core Features
Eclair Mobile simply offers a lightning-ready wallet that can also handle regular Bitcoin transactions. It also offers fee customization and allows users to keep tabs on the lightning network node count directly on their phones using the wallet's user-friendly app.
Pros
- Eclair supports both regular Bitcoin payments and lightning network payments
- It's easy to use
Cons
- The wallet has reached the end of its useful life, so the developers won't add new features or fix bugs unless they are very important.
Summary
Eclair Mobile has a pretty easy-to-use wallet for both on-chain and lightning Bitcoin transactions. However, it doesn't include many additional features and has reached its end-of-life mode.
Zap
Zap is a simple Bitcoin Lightning Network wallet that can be installed on both mobile devices and desktop computers. It is open source and free to use. The wallet allows users to create new wallets or connect to an existing node.
On Zap, it's easy to control your lightning channels and buy bitcoins using the lightning network. This is made possible by a Zap feature called "Strike," which lets users buy bitcoin on the Lightning Network and link debit cards to pay bitcoin bills. The wallet aims to provide the best possible lightning network experience for Bitcoin users.
Core Features
Through its integration with Lightning, the Zap wallet lets you send and receive bitcoins faster. It is non-custodial, which means you'll keep your private keys, and no one will be able to access your wallet without them. You can also link your debit cards to buy bitcoin directly on the Lightning Network.
Pros
- Zap integrates lightning network support
- Users can buy Bitcoin on the lightning network
Cons
- The Android app is still in development
Summary
Zap facilitates instant payment through its Lightning Network integration. It is currently available on desktop computers, iOS devices, and Android devices, but the Android app is still being made.
Bitcoin Lightning wallet
The Bitcoin Lightning Wallet is one of the oldest lightning wallets to launch on the market. It provides mobile users with one of the most powerful and well-supported Lightning apps. Users can use the wallet to send and receive normal Bitcoin payments and to do lightning transactions.
The Bitcoin Lightning Wallet setup process may be a little complicated for inexperienced individuals. New users may require some assistance in getting started. However, once the channel is open, the interface is relatively simple.
Since the wallet is non-custodial, you will have complete control over your funds and will be able to manage your payment channels yourself.
Core Features
The Bitcoin Lightning Wallet features both regular Bitcoin payments and lightning payments. Payments are super fast and cheap, and the wallet is non-custodial. For now, only Android users can use it, but iOS users may be able to use it in the future. It is also fully compatible with Bitrefill Thor Channels.
Pros
- The wallet supports both regular Bitcoin and lightning network transactions
- It supports lightning network apps
Cons
- Setting up the wallet may be complicated for new users
Summary
The Bitcoin Lightning Wallet is pretty straightforward to use once you set it up. But you may need a little help to get started if it's your first experience with lightning.
What is the Lightning Network?
The Lightning Network is a layer-2 solution that resides on the Bitcoin blockchain. It was proposed and built to address the blockchain's scalability issues. These problems resulted in slow transaction processing times and high transaction costs.
Typically, the decentralized Bitcoin architecture cannot compare with payment giants like Visa and MasterCard. This is because it can only handle 7 to 10 TPS. The increasing demand for cryptocurrency leads to blockchain congestion. As a result, the network has increased processing times and fees. However, the lightning network reduces the transaction burdens of the main chain.
The Lightning Network is separate from the Bitcoin network and has its own nodes and software that communicate with the main chain. It sends bitcoin transfers away from the main chain and onto its own network so that they can be done. This, in turn, allows instant and cost-effective peer-to-peer transactions between users.
Note that Lightning transactions are mainly micropayments. They don't need to be added to the blockchain until both parties close the payment channel and move their funds from the lightning wallet to the mainchain. This helps to save block space and reduce stress on the Bitcoin blockchain.
What Are Lightning Wallets?
Lightning wallets are software solutions or digital wallets linked to the Lightning Network that allow users to store, send, and receive BTC off the mainnet. Lightning wallets make channels, figure out network routes, handle opening and closing channels, and may also make sure that the channels are always up.
How does it work?
To use the layer-2 network, you must find a suitable wallet that supports Lightning payments, download it, and set it up to get started. After installing and setting up a lightning wallet, you must move bitcoin from a main chain-enabled wallet to your lightning wallet and set up a payment channel.
Keep in mind that your lightning transactions occur in network channels. Some wallets let you set up channels automatically, but others may require you to do it yourself.
For clarity purposes, a Lightning payment channel is a two-party transaction portal that allows parties to send and receive payments from one another. The lightning network comprises multiple payment channels between parties or Bitcoin users.
Once you have deposited funds in your lightning wallet and set up or joined a channel, you may begin to send and receive lightning payments right away.
To get bitcoin from someone, you must first make a lightning invoice in the form of a string of letters and numbers or a QR code, which the sender must scan with his lightning wallet to confirm the transaction and provide a digital signature.
Interestingly, you can access a variety of features on the lightning network. In addition to peer-to-peer payments, some wallets let you connect to multiple Lightning apps, find merchants, play games, listen to podcasts, and use Satoshis to pay for different courses.
This procedure is similar to receiving funds through your standard Bitcoin address. Also, because the ecosystem of the Lightning Network has changed a lot since it first started, it is now just as easy to send BTC with a lightning wallet as it is with an on-chain solution.
You can learn more about how to set up a crypto wallet here.
FAQ
What is the best Lightning Network wallet?
There are many secure and non-secure wallets on the market that can help you connect to the Lightning Network. Some don't need you to set up any channels—they take care of all the technical parts of the lightning network for you—while others let you set up and manage your channels on your own.
But the best one for you will depend on what you value most in terms of access, control, privacy, and safety. Check out our list to find one that suits your needs.
Is the Lightning Network safe?
Off-chain or lightning transaction processing is safe because it uses the same security protocols as layer 1 (the Bitcoin blockchain). Also, when the lightning network adds data to the main blockchain, it protects user privacy and keeps the anonymity of the people involved in the transaction.
But keep in mind that the lightning payment network doesn't have a permanent ledger or reliable accounting records. This makes it unsuitable for businesses and other legitimate, non-casual businesses. It is also open to fraud or attacks from bad people, even though these flaws haven't been used yet.
Conclusion
Bitcoin is a good way to store value, which makes it an attractive investment for many people. Scalability was a big problem, though, until the Lightning Network network for bitcoin came along. Low fees and instant Bitcoin transactions used to be far-fetched ideas, but now they are real.
The off-chain network is widely regarded as the best solution to Bitcoin's scalability issue. The fact that it's getting more and more popular in the crypto community suggests that it will only get bigger over time.
Check out our list of the best Lightning Network wallets to find some reliable wallets on the market with Lightning Network integrations. You might also want to do your own research to find other popular lightning network wallets to help you start using Bitcoin for everyday payments.
