I'm not sure I'm doing this correctly. I would like to withdraw to my Alby wallet. I funded it from Phoenix, and Alby wallet is showing about 490k sats as the receive limit. When I try to withdraw from SN via invoice I keep getting that the withdrawal failed. What am I doing wrong?
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Do I need to open a channel in addition to this initial funding step. I sent about 14 USD worth of Bitcoin from my Phoenix wallet to the Alby wallet. Alby is showing my balance as zero, but I have an inbound limit now of 490k sats. Is creating a channel another step? What did I pay for?
I’m not really up on that, but it looks like you bought some inbound liquidity, no? cc/ @Alby
Is there a difference between opening a channel vs inbound liquidity? I'm referring to the second step of the onboarding process for Alby (running Alby Hub on windows). I completed this step by sending about 13k sats from my Phoenix wallet to Alby Hub.
Once I open a channel, I should be able to receive from SN, no? The transaction description on my Phoenix wallet from that first funding step says "Lightning inbound channel, provided by Megalith LSP". Should my Alby Wallet be able to receive from arbitrary LN addresses?
I’m probably not the best person to explain this since I’m still using LN custodial wallets. But from what I know, opening a channel and having inbound liquidity are two different things. When you open a channel, you get outbound liquidity (what you can send), not inbound. Maybe @DarthCoin can point you to a good educational article. Otherwise, it’s probably best to reach out to @Alby.
EXACTLY right!
Thank you for your replies. Things are slowly becoming clearer. I don't know if there was some kind of connectivity issue, but I wasn't able to withdraw to my Alby wallet before, and now trying again, it just worked. Not sure what changed.
I think I read somewhere that incoming liquidity take about an hour to become available on AlbyHub.