Hello Africa,
Today, we will be taking another fascinating dive into the world of Bitcoin’s Lightning Network. Specifically, we’re going to be looking at how you can connect your Lightning Wallet to a node based in Africa.
A critical aspect of Bitcoin that makes it unique – its decentralized nature. It’s what makes Bitcoin, well, Bitcoin. The decentralization ensures that no single entity has control over the network. But here’s the thing: many of the Lightning wallets in use today are custodial.
A custodial wallet is a type of wallet where you don’t have full control. Why? Because you’re not the one holding the private keys to your wallet. If you’ve heard the phrase, “Not your keys, not your coins,” this is what it’s all about.
For those new to these terms, let me quickly explain: ‘Private keys’ are essentially your secret password to your Bitcoin wallet. A ‘custodial wallet’ means the provider of the wallet controls your keys (i.e., your money), while a ‘non-custodial wallet’ means you’re the one in control.
Now, let’s move on to the promise of the Lightning Network. Imagine a world where sending money is as quick and affordable as sending an email. That’s the revolutionary promise of the Lightning Network, a clever system built on top of Bitcoin, the world’s first digital currency.
But first, you might be asking, “Why should I link my Lightning wallet with an African Lightning node?” or even “What on earth is a Lightning node?”
So let’s break it down with a little story:
Imagine two friends, Alice and Bob. Alice wants to send some money to Bob. In the real world, she might do this by handing him cash or sending a bank transfer. But with the Lightning Network, she uses something called a payment channel to send Bitcoin to Bob.
In a perfect world, Alice and Bob would have a direct payment channel between them, and Alice’s payment could zip straight across to Bob without any detours as demonstrated below. But in practice, things can get a bit more complicated.
That’s because the Lightning Network is made up of lots of interconnected payment channels, like a giant spider’s web. These connections are called ‘routing nodes,’ and a payment might pass through many of them – sometimes dozens or even hundreds – on its journey from Alice to Bob as seen below.
This can cause a couple of problems. If Alice and Bob don’t have a direct channel, Alice’s payment has to hop from node to node to get to Bob. This can take a bit of time, like a parcel being passed from hand to hand. Plus, each hop costs a small fee, which can add up if there are lots of hops.
So, the more direct routes Alice has to Bob, the faster and cheaper her payment will be and vice versa. And that’s where connecting your Lightning wallet to a node in Africa comes in – by doing so, you’re adding another direct route of payment to your Lightning wallet, which helps to make the whole system faster and more efficient for you.
Imagine linking your Lightning wallet to a friendly neighbour next door, especially one here in Africa. This simple act can unlock a host of benefits for you. Think of enjoying lower costs each time you send a transaction or marveling at the speed as your transactions complete faster than ever. Plus, there’s the added peace of mind of knowing your connections are more reliable
By choosing a local African node, you’ll also be supporting the growth of our very own local Bitcoin economy. Isn’t that wonderful?
So, if you’re just starting out and want to make the most of your journey on the Lightning Network, connecting to a local African node is the way to go. It’s like choosing to walk on a smooth, well-lit road – it’s simply a smarter, easier path.
Let me happily walk you through the process of doing this.
Set Up a Lightning Wallet
First, you need a special wallet to handle Lightning Network transactions. This is called a Lightning wallet, and there are many available. For mobile users, we recommend Phoenix, and for desktop users, we recommend Wasabi wallet. Just like a physical wallet, this digital wallet is where you will store your Bitcoin. It’s like an app on your phone or computer that manages your Bitcoin.
Fund the Wallet: After you’ve set up your wallet, you’ll need to put some Bitcoin into it, similar to how you put money into a physical wallet. This is called “funding” your wallet.
Find an African Node
Next, you need to connect to the Lightning Network, which is a network of computers (called nodes) that manage Lightning transactions. To do this, you need to find a node you can connect to. In Africa, we recommend our own nodes, but there are many others available, you can see them here. It’s kind of like choosing a server to connect to when playing an online game.
Next, you need to connect to the Lightning Network, which is a network of computers (called nodes) that manage Lightning transactions. To do this, you need to find a node you can connect to. In Africa, we recommend our own nodes, but there are many others available, you can see them here. It’s kind of like choosing a server to connect to when playing an online game.
Copy the Node's Address
Once you’ve found a node you want to connect to, you need to copy its address. This address is a bit like this:
“027e2b494d688aa1020b21bb40d84b5280805d84e1387d9b23fcc2c0ac0aca7b37@169.255.56.99:9735”
or
“027e2b494d688aa1020b21bb40d84b5280805d84e1387d9b23fcc2c0ac0aca7b37@fbbhz2n4klwkwtk43vjytm5s4iv65o2z6ozq7ir5uftwhgjnbjghqayd.onion:9735”
It’s a unique identifier that lets your wallet know where the node is.
Opening a Channel
Once you have the address of the node you want to connect to, you will need to connect and open a channel with this node. This is how you establish a connection in the Lightning Network. Go to your non-custodial Lightning Wallet and look for the option to open a new channel. Here, you will input the public key of the node, along with the amount of Bitcoin you wish to commit to the channel.
After the channel has been successfully opened, you are now ready to conduct Lightning transactions with your African node! The funds you’ve committed to the channel can now be used to send or receive payments instantly and with minimal fees.
Remember to monitor your channel’s balance. If the balance is too low, you might have to close the channel and open a new one.
Conclusion
SIGN UP FOR OUR WEEKLY NEWSLETTER
"*" indicates required fields
GET UPDATES ON OUR LATEST BLOG POSTS
Subscribe with your favorite RSS reader (eg, feedly) to get updates on our latest blog posts. Simply click the ‘RSS‘ button above and paste the url link in the reader to subscribe.
Bitcoin’s Lightning Network is pushing the boundaries of financial technology, and Africa is undoubtedly going to play a significant role in this revolution. By connecting your Lightning Wallet to an African node, you are not just participating in an exciting tech revolution frontier but also supporting the Bitcoin ecosystem in Africa.
Remember that using the Lightning Network requires a certain level of technical understanding. Always make sure you’re comfortable with the processes involved and never commit more funds than you’re willing to risk.
Feeling ready to dive into the exciting world of the Lightning Network? Why not take the first step and connect your wallet to our node today?
For more exciting updates and insights on Bitcoin and Lightning Network, don’t forget to subscribe to our blog and share this post on your social media. Let’s make the Bitcoin revolution happen together!
Until next time, happy lightning transactions!
