LifPay wallet is a new Bitcoin Lightning wallet that focuses on user-friendliness and adoption of the Bitcoin Lightning network. The wallet works as a (anonymous) custodial Lightning wallet, making it as easy as possible to start with Bitcoin.
Setting up LifPay wallet
Setting up LifPay is done in the blink of an eye. You simply download the app for your mobile device. Once it is installed, you can open the app, and it will bring you right away to the screen for sending and receiving. When you start to transact with the wallet, it will ask you to create an account so that when you would lose access to your phone, you will not lose your Bitcoin. But if you prefer not to give away any of your information, you can also simply create an anonymous Lightning address. Do keep in mind that an anonymous address can not be recovered.
Nothing else is needed to set up this wallet. You can simply send and receive from here on.
Looks & design
Its black-and-yellow look gives LifPay a calm look. The wallet is quite simple with only a few features and not a lot of bells and whistles. This is perfect for its use case, as it is a Bitcoin-only wallet meant for transacting and adoption on Lightning.
Besides its send-and-receive wallet page, users can only go to the settings where they can change a few things in the app, mostly security-wise.
Features
LifPay prides itself on being exceptionally user-friendly with a good set of features. One of its standout capabilities is enabling seamless and rapid sending and receiving of Sats on a global level via the Bitcoin Lightning network, without relying on other third-party intermediaries like traditional banks.
Within the app, users have the flexibility to manage multiple accounts. An important feature is the absence of a Know Your Customer (KYC) requirement, offering privacy and allowing users to use LifPay without revealing personal information or transaction details to unwanted entities. The wallet allows for lightning-fast Bitcoin transactions with personalized lightning addresses. These addresses are similar to sending emails.
Users can enhance their experience by creating a personalized lightning page and crafting Bitcoin payments using versatile and customizable templates. Additionally, setting up Bitcoin payments is a streamlined process through the LifPay Web Dashboard, enabling quick configuration within minutes.
Within LifPay users can also find places where they can spend their Sats via Lightning. They do this by linking thought to Btcmap.org, where users can find all places in the world that accept Bitcoin.
Lastly, LifPay empowers users to issue and redeem their own NFC gift cards directly through the intuitive LifPay App and Web Dashboard, adding a layer of convenience to their Bitcoin transactions.
Improvements
No wallet is flawless, and even 5-star wallets have some improvement points. So for the LifPay wallet, we thought that it would be a great thing to see a way to purchase Bitcoin within the wallet or a reverence to another place where this might be possible.
This would simply improve the onboarding process for new people to Bitcoin, as they will need to have a way to get their hands on some BTC.
Is LifPay wallet safe?
We have used LifPay wallet and found that sending and receiving funds was no problem at all. But like with any wallet, the safety depends largely on the user and how they use it. If you were to lose your wallet and did not create an account with LifPay, your funds would be out of your control/reach.
Who is behind LifPay Wallet?
On the internet, we could find little information about the creators of LifPay besides their social media channels. That is why we reached out to them for a bit more information. However, like lots of other projects in the Bitcoin and crypto space, they decided to operate while keeping their identities hidden.
LifPay did come back to us stating that they have several contributors working across different functions, and they all share responsibility for the product. Therefore, there isn't a specific person as the face of the company.
On what devices can I use LifPay
You can use LifPay on your mobile device as an app, both for Android and iOS. However, if you prefer to transact from your desktop, you do have the option to log in via the LifPay website and transact from the same wallet here.
Once logged in on the desktop version, you also use your own personalized lightning page.
Conclusion
LifPay is a great Bitcoin wallet. The wallet comes with a simple and user-friendly design, making it a good addition to the existing market. I believe the way the wallet is built can compete with some of the most popular Lightning wallets like “Wallet of Satoshi” which currently dominates in the space.
Not only can LifPay be a good addition to the space, but it could also help spread out newcomers between different wallets, as we now see lots of people being onboarded with WOS. I hope LifPay can shake this up, making custodial Bitcoin Lightning users more spread out and thus more decentralized throughout the market.
Having said that, LifPay definitely works as a great wallet and deserves a good 5-star rating.
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