As some people know, Phoenix Wallet was released, which is a non-custodial wallet (for sure?), which is very simple, nice and supports Lightning.
I won't be reviewing this wallet now, maybe later.
It is certainly very nice and easy to use. Unfortunately, it allows you to operate without saving Seed, this is an error (supposedly it simplifies the matter, but ...).
Supposedly, it is not sacred. Apparently, because I sent myself the funds (100 satoshi) from Bitcoin Lightning Wallet and created a channel for me. But can channels be created by funds on Lighting? Very, very strange. If so, and indeed it is a non-custodial wallet, then - OMG, how wonderful.
Supposedly it supports AMP, i.e. the possibility of splitting transactions into smaller ones. If we have a channel for 5 Bitcoins it's someone, and this someone has 5 channels for 1 BTC, without AMP we wouldn't be able to send it. With AMP these 5 Bitcoins are split into many transactions, so the person at the end gets these 5 Bitcoins, but from many sources (from many channels).
However, we pay higher fees.
I am not sure about this one. This quote from their website smells bad:
Is Phoenix trustless?
Phoenix is trust-minimized, but not trustless. Wise people know that there is no such thing as trustless and that it's all a matter of trade-offs.
I know. However, as I understand it, some services are 'centralised'. For example, if you transfer Bitcoins before you open a channel (automatically?) they give you access to their Bitcoins, which they then equalize?
I don't know what you think. Probably better than Wallets of Satoshi and Bluewallet.
> The only time where we have to go on-chain is if serious issues happen (cheating attempts, bugs, protocol violations...), causing force-close of channels. This should never happen™. But if it does, see how to deal with it.
It says it's not custodial, and the money will be transferred to your account. But I'm curious because I immediately sent myself 100 satoshi (Lightning) and created a channel for me. And now the question is: is this a real channel?
I hope this isn't something that should be hidden :P