If your customers pay with Bitcoin or Lightning in your webshop, these transactions will be credited to your own Lightning wallet.
To do this, you need a Lightning wallet with your own Lightning address.
This Lightning address is stored in the Coinsnap backend and all payments are credited to your Lightning wallet via this Lightning address.
A Lightning address looks like an email address, but instead of messages you can use it to send and receive Bitcoin via Lightning.
For traders who wish to be credited in Bitcoin Lightning, we recommend the Wallet of Satoshi. For traders who wish to be credited in euros, we recommend the Strike Wallet.
Strike Wallet
- So you get a Strike Wallet for private individuals
- So you get a Strike Business Wallet for companies
Using the example of the Wallet of Satoshi, we will show you how to obtain a Lightning wallet with a Lightning address.
We have listed other wallet providers below where you can also obtain your own Lightning address.
Lightning Wallet from Wallet of Satoshi
Using Wallet of Satoshi as an example, we explain how to get your own Lightning address.
The other providers we have listed below work in a similar way.
You have two options for obtaining the Wallet of Satoshi:
Either you go to the website https://www.walletofsatoshi.com/ and there you will find the two download options for the App Store or Google Play.
Or you go directly to the store on your smartphone and search for the Wallet of Satoshi there.
After you have started the Wallet of Satoshi on your smartphone, you will see a Receive button at the bottom left.
Click on it.
The adjacent window opens.
Below the QR code you will find the Lightning address, which looks like an e-mail address. This is your Lightning address, which you can give to anyone you want to receive sats from.
You deposit this Lightning address with Coinsnap and all incoming Bitcoin and Lightning payments are credited directly to your Bitcoin Lightning wallet via the Lightning address.
- So you get a Wallet from Wallet of Satoshi
Lightning Wallet from Strike
Strike offers a Strike Wallet as a smartphone app for private individuals and as a Strike Business Wallet for companies via the web. Strike is particularly interesting for merchants who want their Bitcoin sales to be credited in fiat, i.e. in euros.
Strike offers a Bitcoin Lightning Wallet with a Bitcoin Lightning account for managing the Bitcoin and Lightning balance and a cash account for euros. If you have deposited the Strike Lightning address with Coinsnap, the transactions are credited to the Strike Wallet. In the Strike settings, you can specify whether the credit should then be credited to the Strike Bitcoin Lightning Wallet or whether the credit should be converted to euros and then credited directly to the Euro Cash Wallet. Strike charges an exchange fee of 1.29% for the exchange of Bitcoin to Euro, which can drop to as low as $0.49 depending on turnover.
As the exchange of Bitcoin to Euro is possible at Strike, a KYC process must be carried out.
Strike Wallet for private individuals
The Strike Wallet for private individuals is available as an app for installation on your smartphone. You install the app on your smartphone and start the registration process. As part of the KYC verification process, you must upload a photo of your ID card. You can find a detailed description in the instructions: Strike Wallet for private individuals
Strike Business Wallet for companies
The Strike Business Wallet for companies is not available as an app version like for private individuals, but is only offered as a web version.
As part of the registration process, the company data must be provided and a copy of the identity card must also be provided by acting persons and shareholders with more than 10% of the shares.
You can find a detailed description in the instructions: Strike Business Wallet for companies
Lightning Wallet with payout to bank account
If a KYC check is too time-consuming, but you still want to have your Bitcoin turnover paid out to your bank account in euros, we recommend the combined use of the Wallet of Satoshi in conjunction with the Swiss Bitcoin broker DFX. Enter the wallet’s Lightning address on Satoshi when registering with Coinsnap. In the withdrawal options, select the DFX option instead of the Lightning address. Swiss Bitcoin brokers carry out a so-called KYC-Light check. A credit to the bank account is possible for bank accounts in the same name as the trader. No further KYC checks are required for transactions of less than €1,000 per day and less than €100,000 per year. Further information can be found at: Payments to the bank account via DFX
More Lightning Wallet with Lightning address
With the following Lightning Wallet providers, you will receive a Lightning Wallet with a Lightning address to be able to send and receive Lightning payments.
Lightning Address: username@strike.me
- So you get a Strike Wallet for private individuals
- So you get a Strike Business Wallet for companies
You store this Lightning address after registering with Coinsnap. Using the Lightning address, you connect your Bitcoin Lightning wallet to Coinsnap and Bitcoin payments can be credited directly to your Bitcoin Lightning wallet.
