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One of the Czech cryptocurrency companies recently introduced LN wallet that is bounded to user's phone number. If that doesn't seem interesting enough, read on.
If you decide to send satoshi to someone, you just need to know their phone number. It could be a work colleague, a friend, or even your grandmother. You set the number in the app and send the satoshi. If the recipient already has a wallet, the satoshi itself will arrive. If the recipient doesn't have a wallet, they will receive a text message telling them that someone has sent them satoshi and to download the app.
I've since paid a number of friends for beer with bitcoin, even though they didn't have an LN wallet. My wife has satoshi, my mom, my boss, they've all gotten a few satoshi from me. The app is called BitLiFi (Bitcoin Lightning Finance) and is run by the Czech exchange Anycoin.
How about your LN Wallet? Can orangepilling new bitcoiners? Because mine can do it! :-D
I prefer to be the LN bank for my family and friends (even some local small merchants). As I explained here https://darthcoin.substack.com/p/bitcoin-private-banks-over-lightning
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So is the wallet/sats stored in the cloud under the phone number as a 'log in' to the cloud to access the funds or are the funds/sats actually sent via text message or in some way that it can be stored on that user's actual device? if my sats aren't actually stored on my device or custodial I dont like this.
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Yes, sats are stacked in the node until you install app and get them under your keys. If you will never install app, your sats will wait you in the node forever
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