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1 sat \ 0 replies \ @k00b 10 Aug 2023
Any reason why you didn't share this as a discussion post?
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0 sats \ 1 reply \ @moel OP 10 Aug 2023
So I got an email telling me I was selected to participate in the BETA testing of the Lightning withdrawal functionality of the no-KYC Exchange "Pocket Bitcoin".
About the no-KYC part: to get bitcoins, I have to send them money via a bank transfer with my personal code. Any half smart investigator who has access to my banking information (that is: all 3-letter agencies, and hackers) can see that I am transferring money to the IBAN (bank account) of a known Bitcoin exchange. So, although Pocket Bitcoin doesn't have any personal information about me, it doesn't mean that my bitcoins are "private" from a hacker or government perspective.
The Lightning withdrawal itself:
- You register with an email address.
- You receiver their IBAN and a code that is linked to the email address.
- You send money to the IBAN with in the comment field, the code that you received via email.
- After some minutes (IBAN transfers are usually quite fast), you receive an email with a withdrawal link. This is needed because, as yet, lighting doesn't have a push mechanism.
- You choose between Phoenix and Breez (I picked Breez) and in the next screen you click the withdrawal link. This link opens in Breez, where you are prompted to make a Lightning receive-transaction for the exact amount of sats.
- You click "create" and the next thing you know is, you have yuor sats 😃
Could this process be any easier?
Sure, If it would be possible to simply enter my WalletOfSatoshi address, we could make/fake the push payments in Lightning. But this is very error-prone. After all, what if I don't have enough incoming liquidity in my channels?
So for now, this is the most user-friendly and easy way to buy sats directly into a Lightning channel via a European or British IBAN transfer. 😃
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0 sats \ 0 replies \ @fredosha 10 Aug 2023
Insightful read. Thank you.
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