The Wallet of Satoshi (WoS) Beta was released after months of development and user testing.
The wallet, which can be downloaded here, is provided by Australia’s leading cryptocurrency bill payment platform Living Room of Satoshi (LROS). Concurrently, TravelbyBit has enabled Lightning payments across all of its merchant base, with instant payments the key factor behind this decision.
This article details the wallet funding process and provides a step-by-step guide on how to make a Lightning transaction via TravelbyBit’s point-of-sale (POS) system.
Why Wallet of Satoshi?
WoS focuses on user experience and simplicity, functioning exclusively as a Bitcoin Lightning Network wallet. The Lightning Network allows Bitcoin transactions to be sent instantly thanks to off-chain channels. Lightning transactions are free and secure as the network relies on the security of the Bitcoin blockchain without miner fees being incurred.
With most Lightning Network wallets, users must setup a channel with the party they are sending the transaction to in order to successfully make a transaction. As a custodial Lightning Network wallet, WoS removes the need for users to manually open channels. Instead, channel setup is all done behind the scenes as soon as you top up your wallet with Bitcoin.
WATCH THE WALLET OF SATOSHI Q&A
Daniel from WoS spoke with Nugget’s News about why Wallet of Satoshi is the perfect solution for retail:
CLICK HERE TO WATCH
How to get started with the new app
The wallet allows users to deposit bitcoin directly to the wallet or buy bitcoin with Australian Dollars (AUD) directly in the wallet.
Simply click Top Up in the top left corner, select your top-up method, and send your desired bitcoin or AUD amount to fund your wallet.
As soon as you have sent the funding transaction to WoS, the wallet will display the inbound transaction in the transaction feed below the balance. To view additional transactions, simply swipe up to view your transaction history.
Once the bitcoins have been received, your balance will be displayed on the home screen.
Now that your bitcoins are in your wallet, it’s time to make a transaction!
Visit TravelbyBit’s merchant map to find a place near you that accepts cryptocurrency payments. When making the payment at the merchant, ask to make a Bitcoin Lightning payment. The merchant will enter the AUD amount on their TravelbyBit system and present a QR code for you to scan.
To make a transaction, open your WoS, tap Scan to Pay on the home screen, scan the QR code presented by the merchant and press Pay. There are very minimal fees associated with Lightning Network transactions, so if you forgot to add that extra avocado, you can instantly make an additional cheap payment!
But don't just take our word for it, see the stats for yourself here
As soon as you tap the Pay button, the screen will show that the payment has been sent.
Confirmation is instant and the TravelbyBit POS system will show a green confirmation tick right after the payment is sent.
Where Can I Use Wallet of Satoshi?
Bitcoin Lightning Network payments can also be used for booking flights, accommodation, transport and tours online with TravelbyBit, or for paying bills online with Living Room of Satoshi.
Don't forget to tag your airport transaction!
Each time you make a transaction at Brisbane Airport, our system will generate a unique code word on the confirmation screen. Make note of it, enter it at flybybit.com, and leave a short message for the world to see!
DOWNLOAD WALLET OF SATOSHI: click here
FIND TRAVELBYBIT MERCHANTS: click here
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