How to Use Lightning Bitcoin in Self-Custody with the Phoenix Wallet: Easy Setup in 10 Minutes
Channel: Anita Posch - Bitcoin for Fairness
Date: 08/01/2024

Learn how to install and set up the Phoenix Wallet, a self-custodial Lightning wallet which is a real, self-contained Lightning node that runs on your phone.

Here's what you will learn: How to download and install the wallet, how to backup your wallet with a seed phrase, how to adjust the app settings according to your needs and to receive on-chain sats and open a new channel. You'll learn how to look up transaction details and how to receive a Lightning payment on your wallet. You'll see how to send sats from your wallet and how to create an invoice to receive a Lightning payment. Last but not least you'll understand how to send sats from Phoenix (Lightning) to a Bitcoin on-chain address and how much the payment fees for Phoenix are.

00:00 Introduction
00:24 Download & Install Wallet
00:38 Create A New Wallet
00:50 Create Back-Up Seed
01:12 Adjust The App Settings
03:48 Receive On-Chain Sats To Open Channel
06:18 Look Up Transaction Details
06:48 Receive Lightning Sats From Breez
07:45 Send Sats From Phoenix Wallet
08:44 Create Invoice To Receive Sats
09:21 Send Sats From Phoenix To On-Chain Address
10:35 Phoenix Fees and Purchase Inbound Liquidity
11:42 Consider Supporting My Work With A Donation

CHECK THIS OUT
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►► Can Wallets be Synchronized on Different Devices? https://www.youtube.com/watch?v=Z3Z7wwoGRBs
►► Can You Install Wallets on Multiple Apple Devices? https://www.youtube.com/watch?v=nWjDSXZW68Q
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►► LEARN MORE? This clip is part of my monthly Live Q&A. Be a part and ask your own questions: https://cracktheorange.com
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No financial advice. Do your own research.
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