100 sats \ 2 replies \ @siggy47 OP 1 May 2023 \ parent \ on: Opinions on Phoenix Wallet? bitcoin
From their FAQ:
Swap-out (sending from Phoenix to a bitcoin address): variable, depending on the bitcoin mempool usage and our current UTXO set. Note that we're not taking a cut here, everything goes to the miners.
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0 sats \ 0 replies \ @slender_trikes_0c 2 May 2023
But, I believe to protect themselves, they set the miner fee because they want it confirmed asap. It can be hefty especially if mempool full. So smaller swap outs may be better handled somewhere else that charges a percentage. But nice to have the on chain payment option (swap out) available. Also swap outs do not reduce channel capacity, so if a fat channel is created, it stays fat ;)
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0 sats \ 0 replies \ @ek 1 May 2023
Crazy, will test this soon
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