Getting started with Bitcoin for Merchants
Getting started with Bitcoin for Merchants
What mobile Bitcoin LN solutions you have as a total noob merchant and how start using them.
🇪🇸 Español
Updated on Github November 01, 2024
How to start accepting Bitcoin, as a small merchant, testing ground, small simple steps, for new users that still can't/don't want to run a full LN node machine.
Goals to achieve:
merchant want to start accepting BTC through LN, with simple steps, just enough to test it, to learn how it works and be able to receive BTC.
lowest cost possible
accommodate with the Bitcoin and Lightning Network terms, how to use wallets, QR codes, LN invoices, LNURL, fees etc
a way to move the received funds into a "hodling" wallet
prepare the mindset for the next step: running a merchant LN node. these solutions are only the first step, temporary, until the merchant is ready to have a full node, own bank to manage his own money.
This is NOT a solution for long term is just to get you prepared and understand how Bitcoin LN works for a small shop.
Solutions available:
CoinOS - web wallet, custodial / non-custodial, swaps, POS
IBEX Pay - web and mobile wallet, custodial, swaps, PoS, LNURL
Blink Wallet - custodial, LN address, PoS, API
Opago Pay - custodial, auto-withdraw, offline PoS
Swiss Bitcoin Pay - custodial, cards, PoS app
LifPay - custodial, LN address, PoS
Sats Mobi - custodial, Telegram LN bot with options for PoS
Alby - custodial, used with Zeus or Bluewallet app
Bluewallet - custodial LN wallet or embedded LDK LN node
Phoenix / Green / Breez / Electrum mobile wallet - opening channels fees involved
Blixt - full self-custodial LND node on your mobile
Zeus - full mobile LN node (neutrino), LN address, PoS
Run a BTC / LN node as a merchant (BTCPay Server or LNBits).
A particular case also could be using Lightning Address. For freelancers or occasional invoices paid in BTC, you can setup a LN Address with a federated server or service or even with your own domain, linked to your own node. Here is a guide.
1 - CoinOS
Description / features
web interface, easy to be used also on mobile devices
no need to install anything, just create an anonymous account/wallet
seamlessly swap between onchain / LN
full control of wallet keys
full support for LN Address, now you can have one as username@coinos.io
full support for LNURL send / receive / login
Use case scenario
open / create an account and save the user / password, 2FA, keys, LNURL-auth
In account (top right) you will see that is created an unique address for your wallet, for easy access, like https://coinos.io/user-name
to start receiving payments just click on receive button. By default will be Lightning empty invoice. You will have to add an amount, some LN wallets are not yet capable to pay an empty LN invoice.
You can use also the provided LNURL for receiving payments without LN invoice, so you can print that LNURL QR code on a paper and present it to the customers, without need to open the online wallet. Once the customer will show you the payment done, there's no way to be reversed the payment so no need more confirmations.
there's also the option to receive to Lightning Address, many LN wallets are capable to send to username@coinos.io and you don't need to make any invoice, customer just send the amount is necessary.
End of day or week, or whenever is wanted, the merchant can withdraw the funds from CoinOS wallet to any other personal wallet. The swap from LN funds to onchain address is done automatically (involve a swap fee). But also can be send to another LN wallet, with no other fee than the tx fee (extremely small).
If you want to have a simple icon on phone desktop, like an app, open https://coinos.io/username in your mobile browser (I tested with Firefox on Android), go to menu and click "Install". It will create a simple icon app that you can drag it on your phone desktop widget and open it next time like an app.
2 - IBEX Pay
Description / features:
Works with LNURL and Lightning Address
Payment Gateway for Marketplaces
Point-of-Sale for merchants
Use case scenario
I have no more explanations, here is an excellent video demo made by Ian Major explaining step by step how to use this solution.
3 - Blink Wallet
Description / features:
custodial, simple mobile app
Works with LNURL and Lightning Address
Lightning cash register, printable pay code, web PoS
Merchant map
For easy onboarding this is a very simple to use app for merchants
4 - Opago Pay
Description / features:
custodial with auto-withdraw option
offline PoS
Works with LNURL and Lightning Address
Transaction reporting
For easy onboarding this is a very simple to use app for merchants
5 - Swiss Bitcoin Pay
Description / features:
custodial with auto-withdraw option
PoS mobile app
Works with LNURL and Lightning Address
NFC cards
Transaction reporting
For easy onboarding this is a very simple to use app for merchants
6 - LifPay
Description / features:
custodial, simple mobile app
Works with LNURL and Lightning Address
Multi accounts
Lightning page
7 - Sats Mobi
Description / features
Telegram LN bot wallet, can be used in Telegram app and also imported into Zeus or Bluewallet as normal LN wallet
this wallet is custodial so should be used only for temporary small amounts and withdrawn to a personal wallet, periodically
support for LNURL and Lightning Address (TGuser@sats.mobi), easy to use in offline mode
Also could be used as a simple PoS
very small fees for txs, no fees to open/maintain the account wallet
Use case scenario
merchant will open/create a Telegram user name
automatically will have available a LNURL at https://sats.mobi/@TG-user-name that can receive straight away LN payments, without need of LN invoice, min 100 sats
automatically will have available a Lightning Address as username@ln.tips where customers can pay directly with wallets that support it.
merchant can create also LN invoices, in Telegram in direct chat with @SatsMobiBot with the command /invoice <amount sats> <optional description> and show QR or LN invoice code to the customer
merchant can also import the SatsMobiBot wallet into Zeus / Bluewallet app and use it as a normal LN wallet and create invoices for its customers, move funds to other wallets, swap to onchain (using swap services)
8 - Alby browser extension
Description / features
this app works primarily as a browser extension, but also can be imported into Zeus or Bluewallet as a normal LN wallet
this wallet is custodial so should be used only for temporary small amounts and withdrawn to a personal wallet, periodically
support for LNURL and Lightning Address (user@getalby.com), easy to use in offline mode
very small fees for txs, no fees to open/maintain the account wallet
9 - Bluewallet
Description / features
simple, custodial LN mobile wallet, also Mac desktop app available
optional you can use the new LDK integrated node, but is still in beta
Onchain is non-custodial wallet
option to use non-custodial LNDHUB wallets (if you have own node)
option to use behind Tor (is slow) and connect to own node or specific Electrum server node
Multiple LN wallets, using the LNDHUB protocol
Use case scenario
merchant can open straight away after installing the Bluewallet app (BW) a LN wallet and save the lndhub address as backup. This is a custodial version of using BW LN wallet.
can start receiving payments on LN immediately, just click receive, put the amount, description and create the LN invoice for the customer. No opening channel fees/funds are necessary.
If is used aside with Sats Mobi wallet, can send funds between these 2 wallets and / or using the swap services to send to an onchain (HODL) wallet.
More advanced use cases of Bluewallet + LNDHUB non-custodial wallets:
10 - Phoenix, Green, Breez or Electrum
Description / features
simple mobile wallets that operate onchain / LN on the same interface
are opening channels for the user, in the background, fees involved
integrated swap between onchain / LN, so no need to use external services
Use case scenario
merchant/user install the app and save the seed in a safe place
can start receiving payments on LN immediately, by clicking receive button and put the amount, creating the QR and LN invoice
Is better to start with a big payment received to open a big channel (like 10M sats) for you and pay only once the opening fee. If you start with small amounts, each time you receive a small payment is opening a new channel and charge you a fee for that channel.
Once you receive a big payment, send from that channel like 90-95% of the funds to another LN wallet or swap to another onchain wallet (or using external swap services), leaving the channel with just a small amount of sats to keep the channel open.
Once the channel is almost empty you can start receiving again in the same channel with no more opening fees.
11 - Blixt
Description / features
full LND node Neutrino on your mobile
Dunder LSP - Liquidity Service Provider - on-demand inbound channels
full LN channels management
support for LNURL, Lightning Address, keysend
Integrated Tor with option to have a nodeID behind Tor and accept incoming channels
easy backup / restore function (offline and cloud storage)
12 - Zeus
Description / features
full LND node Neutrino on your mobile
Olympus LSP - Liquidity Service Provider - on-demand inbound channels
full LN channels management
support for Lightning Address, keysend
easy backup / restore function (offline and cloud storage)
integrated PoS with advanced features
13 - Advanced Solutions
Description / features
Run a dedicated Bitcoin LN node with multiple management tools
Accept Bitcoin and Lightning payments in your online store
Get payments sent directly to your cold storage or lightning address
offline / online PoS, hardware tools, ATMs, NFC payments
E-Commerce Payments
Integrates directly with WooCommerce
Documentation, guides, scenarios
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