BitBox for creating a Lightning Wallet
Tests on Alpha BitBox App with lightning functions (not yet available publicly)
In this article we will talk about Lightning Wallet in the BitBox app. This is tstill an alpha state software not yet released, but i tested it and it’s already so interesting that it was impossible not to write about it. So let’s dive a little bit in it in this article.
Create a Lightning Wallet from BitBox
What is the goal? The goal is to create a new Lightning wallet from the BitBox main seed onto the BitBox App without having risks on the device stored seed.
Just plug your BitBox in your phone installing the BitBox app the first time.
Now if you go into the settings, click on advanced settings and enable the Lightning wallet. It'll tell you what Lightning is, click next, it'll warn you that it's going to create a hot wallet.
If you've confirmed this, you can click on "Create Lightning Wallet" and the BitBox itself will ask you "Do you want to create a Lightning Wallet on the host device?"
What it's doing is it's creating a child seed, hashing it and sending this hash to the BitBox app. What does it mean? This means that your main seed is used to derive a new child seed and then hashed. The final hash is sent to the remote App from the device. This hash is finally used to derive or create a seed in itself and use Use the seed to create a Lightning Wallet. Your main Bitcoin seed remains securely on the BitBox 02, it never leaves the device as we normally expect.
This can take a couple of seconds as it's creating a complete new server for you on Blockstream Greenlight with your keys that are on your device. So as you can see, the Lightning Wallet has been created. Click on Done and we have a Lightning Wallet right in the BitBox app. And that’s insane.
Use it!
You can take the BitBox, put it aside and create an invoice. Infact after the initialization it’s not necessary to keep the device plugged in.
How to use it? For a test, we're creating an invoice for 25,000 sats here. Since a new channel is needed, a fee of 2,500 sats will be deducted for this purpose. Then we will see how simple it is to create the invoice and get it paid. The amount of 2500 sats are normally deducted from the amount.
Lightning is also now part of your portfolio overview in your navigation bar and you can use it as a hot wallet wherever you go. Obviously you can create more invoices but what you can also do is you can take the BitBox that you have and you can plug it into any BitBox app that you have on any device that you have.
Same wallet on PC?
For example you can go on a personal computer with the BitBox app, enable lightning, unlock the device and then access to the same lightning wallet you had in the previous case with mobile. Another incredible result.
And now it's going to create the exact same Lightning Wallet that we've created before and you can see the transaction that we've done before. You can use both of these wallets at the same time. So, by using this device and this configuration, we will get the following advantages:
no additional backup needed
seamless integration in the app
get inbound liquidity from Breez
usable on multiple devices at once
pay with Lightning on the go with mobile
Please let me know here in comments what do you think and do not forget that BitBox is also available in https://satsmobi.com shop.
when you receive the first incoming payment, there is a charge of 2500 sats and you should have 100k of inbound liquidity. in general yes i suppose it is paid
Just connect the bitbox device to the mobile phone. nothing else to do physically