5 “Best” Lightning Network Wallets (June 2023)
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With more businesses adding bitcoin as a payment option, there is a race to see who can build the best lightning network wallet that provides consumers with the best experience. In this article, you will find out about the best Lightning Network bitcoin wallets you can use to send and receive bitcoin micropayments via Lightning Network's off-chain channels.
But first, let's talk about the Lightning Network (LN). It is a “second layer” payment protocol that operates on top of the leading cryptocurrency, Bitcoin, to improve its scalability significantly. It is designed to enable instant, low-cost BTC payments between two parties.
The Lightning Network consists of a network of “payment channels” between participating nodes. These channels allow participating nodes to instantly settle payments with each other without having to wait for confirmations on the underlying blockchain. When the payment channel is closed, all its transactions are then recorded in the network as a single large transaction.
To ease this process of transferring BTC between channels, Lightning wallets have been created. At their heart, LN wallets are regular Bitcoin wallets with a feature that opens up a channel to receive LN payments in the Bitcoin network layer one. While some services require users to create channels manually, many Lightning wallets automate the process to give their customers the best possible experience.
There are a variety of different lighting wallets available on the market today. However, after careful consideration, we have compiled a list of the five best lightning wallets currently available. So, let's dive straight into it.
1. Wallet of Satoshi
The “Wallet of Satoshi” Lightning Wallet has been hailed as one of the best wallets available for the Lightning Network. The wallet is easy to use, has a simple interface, and provides a high degree of security, making it an excellent choice for those looking to use the Lightning Network. It also offers a top-up option, allowing you to send Bitcoin from an exchange or buy it directly within the app.
It is a zero-configuration mobile custodial wallet for Android and iOS devices that allows users to store, send, and receive Bitcoin. The Wallets of Satoshi is a centralized service which means you don't control your BTC. Instead, the service provider stores the BTC for you and also takes care of opening payment channels for you.
To use the app, you have to simply download it and then can instantly start sending and receiving LN payments. You don't even have to create an account, and there are no KYC requirements. Your device acts as your “username,” and you can continue using it as long as you have the app or your phone. The app also lets you view merchants in your area that accept LN payments and offers a scan-to-pay option.
Click Here to Download the Wallet of Satoshi.
2. Zap Wallet
The next on our list is the Zap Wallet. This wallet is available for Windows, macOS, and Linux, along with iOS and Android. It is the most complex of all the wallets on this list and is more suitable for advanced users but is still user-friendly. Additionally, it supports both Segwit and Lightning Network transactions, allowing users to make instant and cheap transactions without having to wait for confirmations.
The Zap wallet also offers Strike, a compelling feature that allows users to buy BTC on the LN, and links to a debit card for paying bitcoin bills. Additionally, the Zap Lightning Wallet is highly secure and offers several features to keep your funds safe. You can manage your Lightning payments on this wallet without relying on a custodial service or any centralized third party.
To get started, just enter their LN payment details on the Zap website, and the wallet will generate a unique private key for that address. Zap also lets users connect to their existing Lightning node and create and control as many wallets as they'd like, all in one place, with full node and Tor support coming soon too.
Click Here to Download the Zap Wallet.
Now comes the non-custodial Bitcoin wallet Muun which offers a seamless experience with only one BTC balance for users to take into account. Muun is simple to set up and uses Lightning wallet, allowing you to monitor real-time transactions. It is designed to fit complex scripts such as multisig, lightning, and taproot.
Available for both iOS and Android devices, Muun does not move on-chain BTC transfers automatically into LN channels, but rather users have access to Bitcoin on both the main chain and the Lightning Network. This means you must use a third-party service to deposit and withdraw BTC from the LN. The wallet also has a mempool-based fee estimator that offers a more precise way to predict transaction costs to help you save on fees.
Munn comes with advanced features like multi-signature wallets and hierarchical deterministic (HD) wallets to offer the utmost security. Moreover, you have the option to go for the Cold Recovery Code method or Multi-factor Authentication to create a backup to safely access your wallet in case you change your phone.
Click Here to Download the Muun wallet.
4. Breez Wallet
The Breez Lightning Wallet is specifically designed to work with the Lightning Network. This wallet is open source and includes features like a sleek user interface, digital cash register, podcast player, support for multisig transactions, its own marketplace, and advanced security features.
Available on iOS and Android, Breez is a non-custodial mobile wallet that takes care of opening up an LN channel for you. Once you install the wallet, you can receive up to 1 million Satoshis (0.01 BTC) in LN payments, but you have to wait for three confirmations before the channel is functional.
Breez users may benefit from the wallet's extra features, such as quick transfer of funds between wallets in just a few taps, the ability to purchase BTC with a credit card or debit card, and two-factor authentication and biometric login for security.
There's also Breez Cloud which combines the sovereignty of non-custodial Lightning with the convenience of custodial services to allow users to send and receive payments from any device at any time.
Click Here to Download the Breez Lightning Wallet.
5. Eclair Wallet
The last on our list is the Eclair Wallet. This open-source wallet is available for Android users. It features a simple interface that is easy to use, even for beginners. The Wallet uses encryption, backup and restores capabilities, 2FA, and support for open-source hardware wallets to keep users' funds safe and secure.
Released in 2018, Eclair is a Mobile Lightning Wallet that allows users to make instant, cheap, and secure Bitcoin payments. It is one of the most popular Lightning Wallets available and is trusted by many in the Bitcoin community. It also supports advanced features such as multi-path payments and payment channels, making it a versatile wallet for more experienced users.
This Lightning Wallet by ACINQ is non-custodial and runs a stripped-down Lightning node on your mobile phone. Eclair also computes payment routes on the user's device to offer better privacy than those relying on third parties for route calculations. You can also use Eclair as a regular wallet with the option to customize transaction fees.
Click Here to Download the Eclair Wallet.
While receiving and sending low-cost, instantaneous Bitcoin transactions over an LN was a far-off dream years ago; it has come true since the Layer-2 Scalability Network ecosystem has grown up and convenient Lightning wallets appeared in the market. By offering a global market in which prepaid cell phone refills, gift cards, and other services can be purchased using BTC, the companies behind the application are taking crypto transactions to an entirely new level.
As such, we rounded up the best lightning wallets currently available based on features, security, and ease of use. All of these wallets are excellent choices for those looking to use the LN. However, it is essential to do your own research to find the wallet that best suits your needs.
So, what are we waiting for? Let's start exploring the world of Lightning Wallets today!