Wallet of Satoshi - backup or seed phrase?
770 sats \ 11 comments \ @crrdlx 29 Oct 2023 bitcoin
So far, I've only messed with Alby (linked with Blue Wallet). However, withdrawing sats from the Fountain app wasn't working.
I figured it was time to take the next step. I downloaded Wallet of Satoshi, which seems very clean and nice and easily withdrew the sats from Fountain.
However, I was surprised...no seed words or backup? I did "register" with my email...is that it for a backup?
Alternately, any other recommended wallets? I know there are layers of wallets (custodial on up to getting really technical and running your own node), but I like simple and convenient for my few sats.
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301 sats \ 1 reply \ @DarthCoin 29 Oct 2023
WoS is not a wallet. It's just a custodial account. Yes, indeed, the only "backup" is registering with an email.
Please read more here about LN wallets: https://darthcoin.substack.com/p/lightning-wallets-comparison
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0 sats \ 0 replies \ @crrdlx OP 29 Oct 2023
"Wallet of Satoshi" (WoS) sounds so much better than "Custodial Account of Satoshi", though I kind of like the acronym CAoS.
Thanks for the reply, I'll do some homework.
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11 sats \ 3 replies \ @quark 29 Oct 2023
It is nice and easy but they have your sats. Not you. So you don't have the seed. Try Phoenix. Then Blixt or Zeus when you need more advanced features.
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50 sats \ 0 replies \ @crrdlx OP 29 Oct 2023
Thanks, this is the kind of advice I was looking for.
What I've learnt from the good folks on SN:
  1. WoS is a custodial "wallet" of convenience.
  2. There are no backup seeds beyond an email to a Centralized entity
  3. Phoenix may well be the next step up my Lightning ladder
  4. There's more learning to do (always)
  5. There are still more capabilities and higher ladder steps yet
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1 sat \ 1 reply \ @chovyfubar 29 Oct 2023
got a link to phoenix?
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0 sats \ 0 replies \ @sime 29 Oct 2023
https://phoenix.acinq.co/
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10 sats \ 0 replies \ @spot 29 Oct 2023
Wallet of satoshi is a custodian wallet, ie you custody your sats with them.
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75 sats \ 1 reply \ @HardMoney 29 Oct 2023
WoS is like the $100 you’d take with you on a night out and be ok with losing your wallet after getting blackout drunk
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0 sats \ 0 replies \ @486DX2 20 Nov 2023
Best kinda night.
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0 sats \ 1 reply \ @2bithits 29 Oct 2023
The email contains 2 words as your backup.
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0 sats \ 0 replies \ @crrdlx OP 29 Oct 2023
Pretty that two word response was just to confirm the email account as legit.
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