0 sats \ 1 reply \ @netstatic 15 Jun 2023 \ parent \ on: What best describes your involvement with Bitcoin/Lightning? bitcoin
Lightning has much better privacy by default than regular on-chain transactions and is much cheaper! I would recommend getting the Phoenix by ACINQ and swapping on-chain Bitcoin for LN Bitcoin using Boltz https://boltz.exchange/
People generally put less Bitcoin into Lightning compared to their savings since Lightning needs hot wallets to work behind the scenes, but it works best for everyday payments
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2 sats \ 0 replies \ @shibe 15 Jun 2023
Phoenix has swaps built into the application itself. The tradeoff is that they aren't trustless since you pay ACINQ and then they do the swap, the benefit is that ACINQ doesn't charge a fee (besides the mining fee), whereas Boltz charges 0.5%-ish.
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