{"id":3015,"date":"2021-07-13T00:44:16","date_gmt":"2021-07-12T22:44:16","guid":{"rendered":"https:\/\/coincharge.os24.work\/zap-wallet\/"},"modified":"2023-11-15T15:29:13","modified_gmt":"2023-11-15T14:29:13","slug":"zap-wallet","status":"publish","type":"post","link":"https:\/\/coincharge.os24.work\/en\/zap-wallet\/","title":{"rendered":"ZAP Wallet"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text]\n

ZAP Wallet without own Lightning Node<\/h2>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]After downloading and installing ZAP Wallet from the Apple or Android App Store, you will be prompted to securely write down the recovery key, also called passphrase or seed.<\/p>\n

This is a so-called non-custodial wallet and here you retain full control over your funds.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”3044″ img_size=”full”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”3042″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]This recovery phrase, also called a seed, looks something like this:[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]After you have noted and confirmed your phrase, you will be prompted to top up your wallet.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”3040″ img_size=”full”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”3038″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]After you click on deposit money, you will be shown a QR code.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]If you click on Share, then you can forward the QR code or you can copy the Bitcoin address to the clipboard via Copy.<\/p>\n

Care should be taken to ensure that it is a bc1 address (Bech32), which may not yet be supported by other Bitcoin wallets.<\/p>\n

A deposit of 100,000 satoshi was made for testing purposes.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”3036″ img_size=”full”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”3034″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]Now we have Lightning credits, but we still need to become a part of the Lightning network. Up to now, you have only been standing in front of it.
\nTo become a part of the Lightning network, we need to connect to other participants. Accordingly, we connect to other nodes (peer) and additionally establish a channel.<\/p>\n

Because without such a channel you can neither receive payments nor send payments.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]To do this, click on “Open payment channel”.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”3036″ img_size=”full”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”3034″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]If you click on “Open a channel”, you have the possibility to connect to another peer.<\/p>\n

The other node provides the address of its Lightning Node with its address either as a string or via QR code.<\/p>\n

You can open a connection with the Coincharge Lightning Node. Enter the peer address:<\/p>\n

0318ac9faa9629e7da08819bc8fe0dd2ae3044d69b1b2283a63479acffeb968483@172.81.178.22:9735<\/p>\n

You can use your smartphone’s camera to scan the QR code of another node or select one of the suggested peers.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]Some peers will be suggested to you, which have a corresponding liquidity. You can buy Lightning Liquidity from these sellers. For more information we recommend the article Lightning Liquidity<\/p>\n

ZAP Wallet makes this quite convenient. It offers the possibility that you can use your Bitcoin balance on the ZAP Wallet (here $8.17 in 100,000 sat) to exchange the corresponding liquidity with these Lightning providers with one click.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”3032″ img_size=”full”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”3030″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]We select ZAP accordingly from the proposed peers and the adjacent window appears.<\/p>\n

We select ZAP accordingly from the proposed peers and the adjacent window appears.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]Of this $6.12, $5.79 will be used for the channel. The difference of 33 cents is the transaction fees for writing to the blockchain. This is because opening a channel is an on-chain transaction on the blockchain. If the channel is closed again then this is also recorded on the blockchain and incurs transaction fees once again.<\/p>\n

All Lightning transactions made in the meantime are off-chain transactions and (almost) free of charge.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”3028″ img_size=”full”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”3026″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]One’s bitcoin balance is now $7.68. It has decreased by 48 cents or by 5,809 satoshi.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]The full amount of liquidity was not deducted because the channel partner lends us the liquidity. He provides us with the liquidity on loan and we only paid the interest.<\/p>\n

The channel partner gets the liquidity back at its free disposal when either party closes the channel.<\/p>\n

We do not have the liquidity available immediately, as this transaction must first be confirmed by the blockchain. This may take some time.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]In the channel overview you get displayed that you purchased amount of $5.78. (reduction due to exchange rate fluctuations) can be used for sending.[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”3024″ img_size=”full”][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_single_image image=”3022″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]After the on-chain transaction is confirmed on the blockchain, Bitcoin (on-chain) and Lightning (off-chain) can receive payments.<\/p>\n

Accordingly, I click on the corresponding function.<\/p>\n

If I click on “Lightning” then I can generate an Invoice in which I enter the requested invoice amount and then send it to the payer.<\/p>\n

I click on the icon with the QR code I can make a LNURL widdraw.<\/p>\n

If I have Lightning credit with a service, I can use it to pick it up. I scan the QR code and then get the amount credited to my ZAP Wallet.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]\n

Conclusion about ZAP Wallet<\/h2>\n

The ZAP Wallet is suitable for the user who is already somewhat familiar with the Lightning. It is advantageous to understand the principle of channels and liquidity.<\/p>\n

The special advantage of the ZAP wallet is that you have your own non-custodial wallet for Bitcoin and Lightning and do not have to operate your own node. This is required for all other Lightning Non-Custodial Wallet.<\/p>\n

However, you do not get your own node. If you want to receive Lightning payments in your online store, this is still only possible with your own Lightning node.[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_column_text] ZAP Wallet without own Lightning Node [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text]After downloading and installing ZAP Wallet from the Apple or Android App […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[383,47],"tags":[],"class_list":["post-3015","post","type-post","status-publish","format-standard","hentry","category-lightning-wallet-en","category-lightning-en"],"_links":{"self":[{"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/posts\/3015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/comments?post=3015"}],"version-history":[{"count":27,"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/posts\/3015\/revisions"}],"predecessor-version":[{"id":5517,"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/posts\/3015\/revisions\/5517"}],"wp:attachment":[{"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/media?parent=3015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/categories?post=3015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coincharge.os24.work\/en\/wp-json\/wp\/v2\/tags?post=3015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}