Lightning Network Wallets

Comparing usability with Graaf One

Almost Always Quick

Own Nodes

Uses implementations like LND and C-Lightning

These implementations allow you to run your own node and you can freely connect to our node with it.

Mostly Easy

Custodial Wallets

Wallets that control your private keys

While not the best choice for security, these wallet are often by far the fastest to get setup. Compatible in most cases.

Extra Steps

Lite/Mobile Wallets

For your phone, they usually don't require you to run your own node

You'll likely have to have a channel with receiving capacity with us before being able to purchase through Lightning. In the future, some wallets will be fully compatible.

FAQ

Learn more about Graaf Business Bitcoin accounts.

What does wallet usability mean?

It mostly indicates how easy it is to buy Bitcoin via Lightning through Graaf. If you’re using a non-custodial wallet for the first time, we’ll need to connect to it in order to complete a buy order; full node wallets will allow this to happen fairly simply, while mobile wallets may require a few extra steps. In the majority of cases, selling via Lightning works easily with any wallet.

 

What happens if the wallet I have is giving me errors when buying?

If you try buying bitcoin/creating a channel and receive errors usually this will mean that at the time, our software cannot connect to your wallet. We’d recommend trying another wallet on the “Mostly” or “Always” list.

 

Which wallet is the easiest to start using if I’m new?

Most of the custodial and mobile wallets are the very easy to start using. There are however trade-offs with custodial wallets if you are conscious about leaving your private keys in someone else’s hands.

 

What are the advantages of buying Bitcoin via Lightning with Graaf?

Buying Bitcoin, especially during low fee periods has several possible benefits. Not only are you able to spend Bitcoin via Lightning at various stores and services, but in case you need to sell it, you can do so almost instantly without paying high network fees.

For example: If we ever get into a situation like 2017 where fees are over $50, selling $500 of Bitcoin would be fairly expensive for a small amount; if you have this Bitcoin on the Lightning Network, you wouldn’t need to pay a $50 network fee just to send a single transaction, it’ll be the Lightning network fee which is usually less than a few cents.

 

What kind of fees do you charge?

Our commission fees are already included in the buy and sell price you see displayed on your dashboard. This is the price you’ll pay per Bitcoin. We have free deposits of Canadian dollars to our accounts but we also include some fairly priced options for those who want to move their funds through a faster method.
If you choose to open up a new Lightning network channel, you will pay the network fee for Bitcoin to be confirmed quickly; you’ll have a chance to see this fee before proceeding with your order.

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