I can see, for some of us still hard to understand what SN has to offer, and most important how easy is to attach a wallet to leave SN balance to zero. Running a noncustodial node is hard work, it requires time and a lot of knowledge and energy.
I'll illustrate below, step-by-step, how easy can be to set Coinos.io wallet for Lightning transactions and set the autowitdraw to an HODL address!
Let's start!
1.0 Setting up:
- 1.1. Create a Coinos account on https://Coinos.io/register, fyi... it's KYC free, so no question asked on signup apart username and password. You can have it fully anonymous, clicking on the 🎲 and it will generate a random username for you. Make sure your password is secure.
2.0 Connect wallet to RECEIVE on SN
-
2.1. Once you have your
whateverusername@coinos.osaccount... -
2.2. ... expand the details.
-
2.3. Then copy that lightning address and paste it on
SN > wallet > attach > lightning addressinput field as show below. -
2.4. Now set desired balance =
0, -
2.5. max fee to a min of
1%and... -
2.6. ... click on the save button.
That's it! You just did your first step into bitcoin sovereignty!
3.0 Connect wallet to SEND on SN
After leaving X for good, Coinos recently fully embraced nostr, implementing Nostr Walet Connect (NWC) and making it available to all its users. You can find your personal NWC code under the same Profile details:
- 3.1. Copy that string and...
- 3.2. ... paste it on your
SN > wallet > attach > NWCsettings page on the connection for sending input field:
-
3.3. Leave the desired balance as it is, it should still have the values you set earlier as they applies globally to all autowithdraw methods.
-
3.4. click on the attach button... et voilá! Your sats are now out of SN node!
Note: remember that Coinos still a custodial wallet, and that's why I'll continue describing below how you can set the wallet to autwithdraw and have your sats on an onchain saving account to keep there for the long term... HODL!
4.0 Autowithdraw to cold wallet
It's important to also set up the autowithdrawal on Coinos, making sure any extra unneeded sats go into your cold storage. The best and safer way to do it will be to use a reusable Silent Payment address, but @coinoswallet does not support it yet! Just know that the more privacy-focus solution for receiving onchain bitcoin. In the meantime:
- 4.1. Head to Coinos Settings from the top-right menu icon,
- 4.2. Click PREFERENCES and scroll down until you see the Autowithdraw toggle, turn it ON, paste your bitcoin onchain address and click Save Settings button at the bottom of the page.
If you don't have yet a cold wallet that provide you a bitcoin onchain address, you can continue reading below how to securely set one.
5.0 Set up your HODL saving account
If you don't have one Bitcoin onchain cold wallet yet, this is a great opportunity to set it up. These are the tools I suggest, however do not be forced to use them, try as many as you can and learn more from the differences between them all. You can find a comprehensive list here and if you really want to do it properly follow @Natalia guide on How to MAKE your own Cold Wallet 🕶️.
-
5.1. As you know, there are many ways to generate a Bitcoin wallet that provide you a set of 12 or 24 random English words, that will be your wallet seedphrase. You could also add an extra layer of security with a passphrase, basically an additional password to access and manage the wallet in the future. Ideally, you want to generate all those outside any digital wallet to increase privacy and security of your funds. One option I really like is https://www.BorderWallets.com/ where you can download a simple webpage and generate your seedphrase/passphrase offline. It's worth to try it! Alternatively, Blue Wallet provide a good way to increase the entropy when creating a wallet from the app (remember, do it offline!).
-
5.2. When you get your seedphrase (and maybe passphrase), make sure you write it down multiple times on paper, no pictures, no screenshots, nothing digital... write it down, engrave it, burn it on wood, carve it somewhere! And make sure you store it in a safe places.
-
5.3. Once you have your seedphrase of 12 or 14 letters, staying offline, open Blue wallet and import your cold wallet into it. This step also serves to validate you did everything correctly ... if the import is successful, you then have now your cold storage set forever!
| 5.3.1 Open BlueWallet | 5.3.2 Click Import wallet | 5.3.3 Type the seedphrase |
|---|---|---|
- 5.4 Now you can generate a new address clicking the button ↘️Receive and paste into the Autowithdraw settings on Coinos mentioned in step 4.2.
Footnotes