Description
What is Wallet of Satoshi?
Wallet of Satoshi (WoS) is a mobile Bitcoin and Lightning wallet for iOS and Android focused on simplicity and user experience. It is designed to make Bitcoin payments as easy as possible — just download, open, and start sending or receiving instantly over the Lightning Network.
Key Features
- Lightning Payments — Send and receive Bitcoin instantly over Lightning with minimal fees. Perfect for everyday spending and micro-payments.
- Scan to Pay — Scan a merchant's QR code, confirm, and payment is done in seconds.
- On-Chain Support — Send directly to regular Bitcoin addresses alongside Lightning invoices. The app auto-detects the payment type.
- In-App Bitcoin Purchase — Buy Bitcoin directly within the app (availability varies by region).
- Lightning Address — Get a human-readable Lightning Address (e.g., [email protected]) for easy receiving.
- Custodial & Self-Custodial Modes — Choose between custodial mode (keys held by WoS, easy email recovery) or self-custodial mode (you control your private keys and backups).
Use Cases
Wallet of Satoshi is ideal for anyone new to Bitcoin who wants a simple, no-fuss wallet, as well as experienced users looking for fast, low-cost Lightning payments on the go.
Highlights
Pros
- Built-in Point-of-Sale functionality with NFC support enables merchants to accept Bitcoin and Lightning payments directly from their smartphone without additional hardware.
- Zero-configuration setup lets anyone start sending and receiving Bitcoin Lightning payments within seconds of downloading the app.
- Human-readable Lightning Address (e.g., [email protected]) makes receiving payments as simple as sharing an email address.
- Over 19 million Lightning payments processed since launch in 2019, demonstrating widespread adoption and reliable network performance.
- Supports both custodial mode with email-based recovery and self-custodial mode with seed phrase backup, offering flexibility for different user preferences.
Cons
- Custodial mode means the provider holds private keys on behalf of users, limiting full control and introducing counterparty risk.
- As a hot wallet constantly connected to the internet, funds are more exposed to malware and online threats compared to hardware wallet alternatives.
- The app was removed from US app stores due to regulatory challenges, restricting availability for users in the United States.
- On-chain Bitcoin transactions incur a 1% service fee plus miner fees, which can accumulate significantly when moving funds to or from the wallet.
- In-app Bitcoin purchases through MoonPay require KYC identity verification, reducing privacy for users who prefer anonymous acquisition.