Bitcoin Lightning Network: How to Send and Receive Payments

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In this video, I discuss how to send and receive payments using the Lightning Network.

The Lightning Network is a Layer 2 solution that is built on top of the Bitcoin blockchain. The Lightning Network is extremely fast, cheap, and private.

In this video, I first buy some Bitcoin using the Strike app. Then I send that Bitcoin to my Muun wallet. Then I use the Lightning Network to send Bitcoin from my Muun wallet to my Wallet of Satoshi.

Not investment advice! Consult a financial advisor.

Bitcoin Beach:

Strike:

Muun:

Wallet of Satoshi:

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#LightningNetwork
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[Bitcoin_University]

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[tylerbetz]

A key point missed here is that you can use Strike. And send fiat straight from their app to your cold storage and strike will convert that fiat to BTC using the lightning network. Essential skipping the part where you have to deposit money, the purchase BTC then send it. Ive confirmed this using a Trezor.

[SVR]

Lightning is going to be the catalyst for mass adoption. Bitcoin wouldn’t be able to move past the store of value narrative without lightning.

[theworldasweknowit]

Love watching your videos every morning when i wake up lol. I madr a few videos, with a direct inspiration from this channel! (Looking to inform my friends+fam)

[korypostma]

Thanks Matthew, I've been into bitcoin since Satoshi left and heard about lightning 3-4 years ago but never used it. Thank you for showing how simple it has become. I wish I still had all of my original bitcoin, I would be rich, lol.

[NA-lpre]

MUUN wallet is great. Non custodial and allows a single wallet to send lightning or on chain with no extras steps. Works great with strike.

[zdrux]

Matthew, atomic swaps are now possible between XMR and BTC chains, maybe an idea for future video.

[flyjeffva]

Thank you for your content, Matthew. I have learned much from you.

This video left me with a question: How is the lightning network secured? What keeps people from "cheating"?

Also, my favorite way to buy Bitcoin is using the Trezor wallet itself. It has an option to buy Bitcoin using a credit card. A Ben Franklin FRN can be used to purchase a visa gift card. Then using the Trezor wallet, Bitcoin can be purchased using that gift card. Yes, there is a fee. The current fee for a $100 purchase is $6, but for that I get total anonymity. It would seem correct to say that the government knows about your purchases through a linked bank account and the government does not know of my purchase using FRN -> gift card -> Bitcoin using the Trezor wallet.

[DiandraStarShine]

thanks, Matthew!
already had the Muun wallet but it's just been sitting on my phone, waiting for me to finally remember to learn more about the Lightning Network!🤦🏾

and now after watching your video I downloaded the Lightning app & Wallet of Satoshi & I definitely waited too long.

thanks so much for the tutorial, for making it available for your YouTube public to learn from.👍🙂

[kerbyanderson]

Been using the Strike bitcoin app ever since you explained it in a previous YouTube video. Thank you for this update.

[cryptoclarity]

very well explained mate. still learning a lot about Lightning Network. This is the tool for scalability.

[Chuck-beed]

An extremely practical video. Thanks Matthew!

[BlackOrchidcrypto]

Good intro on how to purchase Bitcoin in a cost effective manner. Would like to see a starters guide on how to setup a lightning channel.

[gamingking]

Thanks. The biggest hurdle I have right now is that I don't think Strike operates in the country I want to send to. The person I want to send money to can't spend bitcoin to buy groceries, and can't convert bitcoin to fiat.

[alolsen]

Very well done, thank you. I am assuming that one could send bitcoin to a cold wallet via the Lightning Network?

[postscript]

How do you buy it anonymously? And save on hard drive

[norwegianmaid]

I find your videos so helpful. Thanks!

[tedgraham]

Great video and thanks for sharing! Would you be willing to make a video on how to setup your own lightning node? Would you use Umbrel, Citadel or some other software? How to setup channels and the process you use yourself? Thanks again!

[mikomigsd]

Simply explained as always Matt. If I need to know anything I check your vids first and you usually don't disappoint!!! Cheers

[FarfettilLejl]

Matt, are you running a bitcoin node? If so, would you be willing to open some channels with your fans? :)