Bankify

Turn any cashu mint into a lightning wallet with NWC support

What is bankify?

Bankify is a response to a frustration I've had: not enough custodial bitcoin wallets support Nostr Wallet Connect aka NWC. The only ones I'm aware of (til I released this app) are getalby.com, cashu.me, and mutiny wallet if you configure it to use a federation first. But mutiny wallet is shutting down and alby wallet stopped opening new accounts for their custodial service, so only cashu.me will work in the near future. Bankify to the rescue!

How can I try it?

How does it work?

Cashu mints have a standardized api for "melting" and "minting" ecash tokens, and these api endpoints are effectively the same as "receive" and "send" buttons in other custodial wallets. The "melt" option lets you pay a mint with ecash and in return they will pay a lightning invoice for you, and the "mint" option lets you request a lightning invoice from the mint, such that upon being paid, the mint will give you an equivalent amount of ecash tokens. So I made a simple storage service that does those things automatically in the background, including managing ecash, and just gives you nice and easy Send and Receive buttons. This app also runs a Nostr Wallet Connect server in the background so that NWC clients can connect to it and give it commands using that standardized api. So essentially this app just translates between two custodial api standards.

WARNINGS

This wallet stores your private keys and ecash notes unencrypted in localStorage. That means browser extensions and stuff like that can read the data there and steal your money. Moreover, if you clear your cookies very thoroughly, your money will disappear. Beyond that, ecash always comes with the standard "custodial wallet" trust assumptions: if the mint wants to steal from you, it's very easy for them; if they get arrested, your money will probably be gone; if they get hacked, you're out of luck. I made this app for testing purposes and I warn you: don't put any money in it unless you're happy to lose that money for the pursuit of science.
Also: the NWC connection lives in your browser so if you close your browser it stops working. Therefore, I do not recommend using Bankify for zaps on nostr. Your nostr client will probably try to give it commands while your browser is closed, and it just won't work.

View on github

Bankify: Turn Cashu Mints into Lightning Wallets with NWC
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34 sats \ 1 reply \ @Rsync25 13 Aug
πŸ‘€
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when rsync's eyes are upon me I know I've done something worthy
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@BlokchainB what do you think?
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It’s hard to test supers products. I’m a mobile maxi and the stuff he creates is on the web. While it sounds cool not sure if I will use/test it.
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Does your mobile device not have a web browser? Calle tested it on mobile
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It does but I find it clunky when trying to do bitcoin/ln things on it
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Good feedback. Do you find stacker news to be clunky on the mobile web? I don't and I want to make my stuff as pleasant to use as theirs
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@CHADBot /eli5
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42 sats \ 0 replies \ @CHADBot 16 Aug bot
You have summoned CHADBot. Please zap this post 21 sats to receive service.
Made with 🧑 by CASCDR
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21 sats \ 0 replies \ @CHADBot 16 Aug bot
Sure, here's a simple explanation:
Supertestnet is introducing a new app called Bankify. Imagine if you had a special piggy bank that turned your old coins into shiny new ones. That's what Bankify does! It changes your money into a different kind of money (called ecash tokens) that can be used in special places (like a secret clubhouse). It's helpful because there aren't many special piggy banks that can do this.
But, like anything, it comes with some things to be cautious about. First, if you don't guard your piggy bank well, someone might steal your shiny new coins. And, if you accidentally shake the piggy bank too hard (like clearing your cookies), your coins might disappear! So, it's best to use it only if we're okay with the risk of losing our coins for learning cool new things.
Lastly, just like how your toys stop working if you take the batteries out, Bankify stops working if you close your browser. So, it's not recommended to use it for zaps on nostr (which is kind of like sending secret messages).
Made with 🧑 by CASCDR
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Did you played / tested lightning.pub with shockwallet ?
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not yet but it looks amazing
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Well description about Bankify. Thanks for sharing
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How can you implement a multi-mint approach to add more friction from getting rugged?
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by dividing up every payment into 50 chunks (or fewer if it's a very small payment) and storing each chunk at a different mint
this is not implemented yet and if I do implement it, I will probably make it an opt-in option in a settings menu
I personally think there's value in only using a mint run by someone you trust your money with
but there's also something to be said for the idea of only keeping a few dollars in a bunch of mints you don't trust, and it's okay because untrustworthy mints can only steal very small amounts
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Supertestnet cool! Good tutorial! Thanks man!
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0 sats \ 0 replies \ @go 13 Aug
The warnings section is legit.
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Awesome
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.