On October 8th, the development team at Wallet of Satoshi, one of the most popular apps for sending and receiving payments over Bitcoin and Lightning Network (LN), announced an update that will allow users to use the app in self-custody mode.
In the new version of self-custody, Each person can exclusively manage their private keyswithout an intermediary.
To enable this new mode, you must either download the application or update to the latest version, then open a menu with three gray lines from the first interface and select an option. “Switching to self-custody” (Switch to self-safe), as shown in the following image:
The app then asks you to save the 12-word seed phrase. The only way to collect funds If your device is lost, stolen or changed.
Once the seed phrase is saved, the wallet will be able to operate in self-custody mode.
This measure ensures that only the owner has access to his money, reaffirming the core principles of Bitcoin. “It’s not a key or a coin.” (If it’s not a key, it’s not a coin).
The addition of this mode will make it easier for users to enjoy the speed and low cost of Lightning transactions. Without abandoning the safety of autonomy and self-custody.
This step brings Satoshi’s wallets available on Android and iOS closer to Bitcoin’s original vision: a true decentralized network where each individual is their own bank. “A new era of Bitcoin is beginning now. It will be available worldwide from today.”
