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So I got 50,000 sats by @Bitsahara and i went away and setup a new node using @ln_zap . Who wants to really learn how to setup a node the easy way and open channels to help the LN really grow?
Okay so usually setting up a lightning node requires you download the whole BTC blockchain and run citcoin core wallet along with LND and some cmd stuff that might confuse a regular user. But all that can be skipped by using @ln_zap
Just download it from https://zap.jackmallers.com/ to get started.
After the installation, you would want to create a new wallet.
- Select the new wallet option.
- Note down the seed phrase
- Set the password
- Select the option for backing up your channels (choose wisely)
- Zap will then sync with the latest blocks from the blockchain
- Select the new wallet option.
- Note down the seed phrase
- Set the password
- Select the option for backing up your channels (choose wisely)
- Zap will then sync with the latest blocks from the blockchain
- While it is being synced, you can transfer the funds you want to allocate to your node to the given address using on chain transaction.
- I transferred 50000 sats
- I transferred 50000 sats
- Now, You cant do transactions on LN if you don't have channels open. Zap shows you both your outbound and inbound channel capacity. ( I suggest use the autopilot feature for newbs)
- Autopilot feature will automatically open channels and close them as per what is suitable
- Autopilot feature will automatically open channels and close them as per what is suitable
I didn't use the autopilot feature, I got one channel open with @sparkswap which let's me trade my lightning funds directly from my desktop and I opened another channel with Zap so I can send lightning transactions to myself. We can open channels between each other too.
Voila! your new wallet is ready.
P.S your funds, get locked when you open a channel, that's the channel capacity.
P.S your funds, get locked when you open a channel, that's the channel capacity.
