How to be a LN bank for your family and friends in simple steps
Nowadays, we hear many people complaining that onboarding new users into Bitcoin and Lightning specifically is hard, in a self-custodial way.
I kinda agree with that argument and I understand people's pain with little knowledge.
I wrote several guides about nodes and liquidity and wallets and people still struggle to start using Bitcoin.
Their "journey" into starting straight with a full LN node will be like this:
My proposal
Every bitcoiner that have a good base knowledge about running nodes and liquidity, should start building his OWN LN Bank, for his local community, family and friends, even for local small merchants. For people that cannot run their node, cannot manage proper liquidity, they cannot learn fast all aspects about nodes and how LN works.
But do your own expertise, be prepared! Just because you know how to install Umbrel, it doesn't mean you already can be a LN bank! Read my other warning here..
Being a LN banker is not an easy task! You are fully responsible for your users! Teach them, help them, support them. Only together can grow.
Yes, there's a trust involved in all this scenario. Between YOU, "the banker" and your clients, your closed people. So you should be the first one in NOT breaking this trust relationship! Don't be evil!
My sincere advice: learn how to use your shiny LN node, not just for you, but also for the people around you. It is each bitcoiner duty to help others to use Bitcoin. Your personal knowledge have a direct affect on others. Just because you run a LN node in your home, is NOT enough.
So what solutions do we have?
TLDR: LNDhub accounts! The easiest and simple way for new users to jump using BTC/LN, without hassle (from their side).
Users could just import their LNDhub accounts into Zeus LN, Bluewallet or BoltCard wallet. No more seed to write down, no more backups (you, as a LN bank, are in charge of everything!), no more hassle with liquidity.
1. LNbits suite
Powerful software with many extensions and options. Here I wrote several guides about using this wonderful solution. Easy to install and manage. Soon will come with many goodies.
With LNbits you can create endless LNDhub accounts and manage them as a real "banker".
- The Bank of LNbits
- Getting started with LNbits
- LNbits for small merchants
- Build your own LNbits apps server
- Start your NOSTR market with LNbits
- LNbits SaaS - a solution scenario for schools and festivals
2. BTCPay Server
Another powerful server, with many applications for merchants. You can even run it for your local merchants. With BTCPay you can create several LNDhub accounts too, using the LN Bank plugin.
3. Lightning Terminal
This is a very simple solution to manage directly all your LND accounts, using a LND node. Just install the app Lightning Terminal and through its simple interface can manage all the accounts. This LT app is also used for LNC to connect safely to your LN node using Zeus and manage your node remotely.
4. BoltCard LNDhub
This is a fork of Bluewallet LNDhub and adapted, improved with new features. You can create easily LNDhub accounts and also NFC cards, managed by users using BoltCard app, Bluewallet or Zeus.
- BoltCard webpage - with more explanations
- BoltCard LNDhub - how to install on your node the suite
THERE IS NO EXCUSE FOR YOU THE NODE RUNNER NOT TO TRY THESE, for you your family and friends.