Summary:
Using the Lightning Network requires a Lightning-enabled wallet and lets you send and receive bitcoin instantly with extremely low fees.
Details:
After downloading a Lightning wallet, you can open a Lightning channel or receive an inbound channel. Once funded, you can send bitcoin via Lightning invoices or Lightning addresses. Payments are settled instantly without waiting for blockchain confirmations.
This is ideal for small payments, online tipping, subscriptions, and peer-to-peer transfers. Many mobile wallets like Phoenix, Muun, or Wallet of Satoshi make it easy to get started.
Key Features:
- Enables near-instant payments with minimal fees.
- Requires a Lightning-compatible wallet (e.g. Phoenix, Breez, Muun).
- You can scan Lightning invoices or use Lightning addresses.
- Ideal for micropayments, streaming money, and frequent transfers.
- Less secure for large payments—best for small, fast transactions.