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Two Essential Apps for Any Lightning Network User

As the lightning network matures alongside the growth of Bitcoin, there are two apps proving to be essential for any lightning user.

The first of these is the Wallet of Satoshi and the second is any of the hardware and software bundles provided by Ledger. For the contemporary Bitcoin HODLer, there are an array of use cases for why one may choose to buy Bitcoin. Bitcoin, fundamentally, promises to be a transformational currency that can balance the financial playing field of the world. However, Bitcoin and the lightning network have not yet filled these shoes. There will be other apps, such as Strike, that lie in wait to capitalize as those shoes fill.

Bitcoin lightning network

We’re in the Early Days of Bitcoin and Lightning

As mentioned, Bitcoin and the lightning network are still in their early stages of growth. Therefore, much of the global impact and utility of Bitcoin has yet to be realized. That makes it likely that you are HODLing Bitcoin for investing purposes. You are either looking to capitalize on Bitcoin’s network effects or want to hold Bitcoin so you can be ready to use it when you need to.

Wherever you are in your Bitcoin journey, this article is going to explain why Wallet of Satoshi and the Ledger hardware/software bundle are essential to remain adaptable to the future of Bitcoin.

The Lightning Network

First, a quick summary of what the lightning network is. The lightning network is a “layer 2” payment protocol that was developed essentially as a software that allows you to use Bitcoin more effectively. It solves what has been known as the “bitcoin scalability problem”, which translates into Bitcoin being able to be transacted with more versatility and speed. Any apps tailored to Bitcoin in the future are likely to be developed on the lightning network.

Two Wallets: Hot and Cold

The logic behind why Wallet of Satoshi and Ledger were chosen are as follows. The Wallet of Satoshi and the Ledger hardware/software bundle, in combination, provide the highest quality services to be a versatile and responsible lightning network user. If you want to transact or HODL with Bitcoin, then these are the two lightning network services that you shouldn’t overlook.

The importance of the combination of these two services boils down to Wallet of Satoshi being a hot wallet service, and Ledger being a cold wallet service. Together, these two apps can take you a long way down the Bitcoin road. It’s as simple as that. In our opinion, Wallet of Satoshi is one of the best Bitcoin hot wallet services and Ledger provides the best cold wallet service. Wallet of Satoshi will take care of your everyday transacting needs and Ledger will do the same for the long-term storage security of your Bitcoin.

Wallet of Satoshi

In a nutshell, Wallet of Satoshi’s intuitive and simple design are its defining features. As soon as you open the app, everything you need from a hot wallet is there. Buy Bitcoin, send Bitcoin, and receive Bitcoin. Aside from a few accessory features available in the menu of the app, that’s pretty much it. The claim presented upon opening the app, “The world’s simplest Bitcoin Lightning Wallet” proves apt.

By no means is Wallet of Satoshi the only hot wallet available. The hot wallet landscape on the lightning network is a bit of a dizzying affair. Most of the other hot wallets provide essentially the same services as Wallet of Satoshi but you would be sacrificing a seamless user experience. Other apps tend to be overcomplicated with unnecessary distractions like crypto betting and leveraged trading. If you’re after these services, then use those other apps by all means, but they are not essential. Wallet of Satoshi only puts in front of you what you need; a way to move your Bitcoin quickly, easily, and securely.

Ledger Hardware/Software

To clarify, Ledger’s software is not integrated with the lightning network, though surely it will be soon. Ledger’s services made this list because it would be irresponsible to not have a form of cold storage. Cold storage is essential. The lightning network is inherently online, therefore, there is no such a thing as a form of cold storage on the lightning network.

Ledger is a company based out of Paris, France that developed what has become the most widely used and trusted form of storing cryptocurrency offline. When you use Ledger hardware, both the desktop and mobile software are included. Ledger’s software even provides sending, receiving, conversion, and purchasing options, amongst others. These options are useful when operating within your hard wallet but they are beside the point here. What each HODLer needs is a form of cold storage and Ledger provides that with an industry-leading degree of trustworthiness.

Trezor is also a really great alternative for anyone looking for a hardware wallet.

Your Future on the Lightning Network

What this article has aimed to do is equip you with what you need to stay relevant on the lightning network. To summarize, Wallet of Satoshi gives you a no-nonsense means to transact on the lightning network and Ledger’s hardware and software services will keep your Bitcoin secure throughout the evolution of Bitcoin’s growth. Having these two apps at your disposal will keep you ready to store and move your Bitcoin efficiently, as needed.

The use cases for Bitcoin will be novel and extensive as it transforms industries and financially connects almost half the global population for the first time. As a result of Bitcoin, we are likely going to see significant changes in how the world transacts value. To keep you primed to adapt to the future of money, we surmise that these two essential apps for any lightning network user will serve you well.

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Gerrit van Sittert

About the Author

Gerrit van Sittert

Gerrit van Sittert is a cryptocurrency investor keenly interested in the ramifications of blockchain technology. Since graduating from a commerce and entrepreneurship degree, he has specialized his knowledge of how cryptocurrencies are set to impact the global supply chain and emerging markets. He started his crypto journey in 2017 while hosting an entrepreneurial focussed meetup group in Victoria, BC.

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