Can I Use Coinos as a Swap Exchange as an Alternative to Boltz? \ stacker news ~bitcoin

pull down to refresh

Can I Use Coinos as a Swap Exchange as an Alternative to Boltz?

3403 sats \ 33 comments \ @spiderman 22 Sep bitcoin_beginners

I used Boltz previously to peg in-out between lightning and on-chain. But I recently opened an account on CoinOS and it seems the same account can receive

On-chain
Lightning
Liquid BTC

But my question is, do all of them appear as a unified balance in one account or there will be segregated balance (like I have in Blockstream green wallet) for these different layers?

If unified, then I can send them all to an on-chain or lightning, right? In other words, it helps me swap? Is my understanding correct? And is it risky to do so?

view all related items

21 sats \ 24 replies \ @SwapMarket 22 Sep

Coinos have low liquidity in popular directions LN->BTC and LN-LBTC. So there is a good chance you'll have to withdraw via LN, paying the routing fees twice for nothing.

0 sats \ 1 reply \ @spiderman OP 23 Sep

How do you know this? Is there any trustworthy site or public data on this liquidity metrics (also, how to measure and interpret them) of different platforms like Coinos, Boltz, Zeus etc.?

0 sats \ 0 replies \ @SwapMarket 23 Sep

I have been Coinos lightning and peerswap peer for a while. I also see the prevailing flows on my Boltz backend. Most volumes go from LN to BTC because people want to anonymize their cold storage sats.

0 sats \ 21 replies \ @Solomonsatoshi 22 Sep

The routing fees on Coinos are significantly lower than any other platform.

0 sats \ 20 replies \ @SwapMarket 22 Sep

But LN routing fee to Coinos are high, unless you have a direct channel.

0 sats \ 19 replies \ @Solomonsatoshi 22 Sep

If that is the case, perhaps other LN wallets need to set up better routing channels to Coinos, instead of obstructing them because Coinos offers significantly lower fees than them.

0 sats \ 18 replies \ @SwapMarket 22 Sep

Coinos charges 0.4% "platform fee" for BTC withdrawals (plus chain fee). This is by far the most demanded service. Retailers get LN sats and withdraw onchain to cold wallets. So Coinos node is a sink, peers must set high routing fees to it so that the channels don't drain very fast.

0 sats \ 17 replies \ @tomlaies 22 Sep

Retailers get LN sats and withdraw onchain to cold wallets. So Coinos node is a sink, peers must set high routing fees to it so that the channels don't drain very fast.

Fascinating.

Could they do something about that? Like do something to offset the sink-effect?

E.g. offer some service that is a net sats filler, offset the sink effect such that peers can rebalance the channels?

0 sats \ 16 replies \ @SwapMarket 22 Sep

Not really. Their business model is to help retailers accept Lightning Bitcoin.

0 sats \ 15 replies \ @Solomonsatoshi 23 Sep

When I use Coinos I load BTC from L1 or L2. I think many other Coinos consumer users would do the same. Coinos is not only for retailers but also people who want to spend sats and your assertion that they are a sats sink is highly contestable - a lot of consumers load sats into coinos to spend them. As seen on trustpilot there looks to be a some competitors fucked off that Coinos offers such a great low fee product and these competitor appear to be seeking to dis and defame Coinos because these competitors do not offer such a good low fee service.

view all 15 replies

107 sats \ 4 replies \ @jamesviggy 22 Sep

Yes you can use Coinos to swap between on-chain, Lightning, and Liquid BTC. They show as one unified balance in your account, and you can withdraw to any of the three networks.

Just note there’s a fee if you withdraw to a different network than you received on. From their FAQ:

“Withdrawals to external wallets are free if you use the same network you received on, otherwise there’s a 0.4% fee for Bitcoin or 0.1% for Lightning or Liquid.”

Coinos is one of the longest-running custodial wallets in Bitcoin and is fully open source. That said, they still recommend you don’t use it as a savings account. They even have an auto-withdrawal feature so you can regularly sweep funds out to your own wallet.

If you like the project and want to support its continued development, you can contribute to their Geyser fund.

0 sats \ 3 replies \ @kilrau 22 Sep

Exactly. Coinos is awesome, just be aware that it's custodial and can freeze your funds, which they unfortunately do from time to time (see https://www.trustpilot.com/review/coinos.io)

I use it personally for a couple of sats for nostr tips and it serves that purpose very well!

Disclaimer: I am affiliated with Boltz, so definitely take this as a decently biased opinion ;)

0 sats \ 1 reply \ @Solomonsatoshi 22 Sep

Regarding the Trustpilot 'reviews' I remember going on there about a year ago and seeing multiple obviously fake negative reviews and thinking who the fuck would post this pure bullshit? Quite likely other wallets salty that Coinos offers such a competitive service compared to the usurious fees charged by other wallets. I reported the fake reviews to trustpilot and it looks like some were taken down but some still remain. There are still 12 obviously fake negative reviews ALL dated 12 September 2024 and 2 more dated Sept 6th 2025 which trustpilot have not removed...and which still result in a considerable lowering of Coinos trustpilot rating score. Competitors who do this sort of dishonest backstabbing bullshit are pure scum.

0 sats \ 0 replies \ @Solomonsatoshi 22 Sep

Correction- Should read '2 more dated Sept 6th 2024'.

0 sats \ 0 replies \ @Solomonsatoshi 22 Sep

Coinos fees are way lower than any other wallet.

20 sats \ 0 replies \ @DarthCoin 22 Sep

If you were paying attention to my guides you will find a dedicated guide about submarine swaps https://darth-coin.github.io/nodes/lightning-submarine-swaps-en.html

In there you can find many options for swaps, including this nice alternative to botz SwapMarket https://swapmarket.github.io/ where you can choose multiple operators.

0 sats \ 0 replies \ @SwapMarket 19h

And if you plan to spend sats via LN, you can fund your Coinos wallet in a swap from on-chain while earning sats at SwapMarket or Boltz Pro.

0 sats \ 0 replies \ @SwapMarket 22 Sep

Coinos charges 0.4% fee for BTC withdrawals (plus chain fee), or 0.1% lower than Boltz. A lifehack is to withdraw Liquid BTC instead, for a minimal chain fee, and swap to BTC at Boltz (0.1% fee) or swapmarket.github.io (0.09%). But for larger amounts Coinos may not have enough liquidity, so chaining two swaps LN->LBTC, then LBTC->BTC on SwapMarket is your best bet.