Do custodial wallets require KYC?

Not always at sign-up, but they can start requiring it at any time, because the company controls the funds and answers to compliance rules.

Do I need my own node to use Lightning?

No. Wallets like Phoenix and Breez manage channels automatically without you running a node.

Can I use the same wallet to spend and to save?

You can, but it is common to split: a Lightning wallet for daily spending and a self-custody on-chain wallet for savings.

Lightning wallets: comparison

A Lightning wallet is the app that holds your keys and sends payments over the Lightning network; the most important difference between them is whether custody of the funds is yours or a company's.

Which Lightning wallets to compare?

Lightning wallets: comparison
Wallet	Custody	KYC	Tor	Open source	Lightning address	Platforms	Official site
Phoenix	Non-custodial	No	to verify	Yes	Yes	iOS, Android	phoenix.acinq.co
Breez	Non-custodial	No	to verify	Yes	Yes	iOS, Android	breez.technology
Zeus	Non-custodial	No	Yes	Yes	Yes	iOS, Android	zeusln.app
Blixt	Non-custodial	No	Yes	Yes	to verify	Android, iOS	blixtwallet.github.io
Electrum	Non-custodial	No	Yes	Yes	No	Windows, macOS, Linux, Android	electrum.org
Muun	Non-custodial	No	to verify	Yes	to verify	iOS, Android	muun.com
Wallet of Satoshi	Custodial	to verify	to verify	No	Yes	iOS, Android	walletofsatoshi.com
Aqua	Non-custodial	No	to verify	Yes	to verify	iOS, Android	aqua.net
Bull Bitcoin	Non-custodial	Depends	to verify	Yes	to verify	iOS, Android	bullbitcoin.com

How do you choose a Lightning wallet?

Prefer non-custodial wallets for holding value.
Check whether the code is open and auditable.
Confirm Tor support if you want to hide your IP.
Test the wallet with a small amount before trusting it.
Keep the recovery phrase on paper, away from the phone.

Why do some cells say “to verify”?

Wallet features change with every release. When a fact could not be confirmed in the official documentation, the cell reads “to verify” instead of a guess.

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Frequently asked questions

Do custodial wallets require KYC?: Not always at sign-up, but they can start requiring it at any time, because the company controls the funds and answers to compliance rules.
Do I need my own node to use Lightning?: No. Wallets like Phoenix and Breez manage channels automatically without you running a node.
Can I use the same wallet to spend and to save?: You can, but it is common to split: a Lightning wallet for daily spending and a self-custody on-chain wallet for savings.