Olaniran
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Self-holding wallets are becoming the safest option for holding your bitcoins while benefiting from the power and advantages of Bitcoin's Lightning overlay. Breez, thanks to its approach, particularly stands out in this batch of wallets.
What is the Breez wallet?
Breez is a self-custodial wallet created by the Breez company that gives you control over your bitcoins and, at the same time, offers innovative features all in one application.
You can download the Breez wallet on Android and iOS from the official download platforms. In this tutorial, we'll be taking a hands-on approach to the app on the Android platform. The entire process detailed below is also valid on iOS.
⚠️ IMPORTANT: It is essential to download the application from an official platform such as Google Play Store or Apple Store to ensure the authenticity of the application and the security of your future assets.
Here, on Android, is the Breez application (not to be confused with Misty Breez, another product from the Breez company).
Getting to grips with the wallet
Breez gives you the option of creating a new wallet or restoring an existing Lightning wallet. In this tutorial, we'll create a new wallet.
This is one of the advantages of Breez: you have the keys to full access to your bitcoins. You are the master of your bitcoins.
⚠️ As the Breez wallet is currently under development, we recommend that you make transactions with moderate amounts for the time being.
Not your keys, not your bitcoins.
The wallet synchronizes directly with the Bitcoin protocol and provides you with an active node for your transactions.
Save your keys
The first thing to do when creating a Bitcoin/Lightning wallet is to save its keys.
In the Menu, scroll down to Preferences then Security.
Breez lets you save your 12 recovery words on a Google Drive or a remote personal server that you can configure.
Then activate the Chiffer backup option: this will reveal the keywords in your wallet that you can save manually.
Then follow the instructions to confirm your backup and connect your remote backup account to the Breez wallet.
⚠️ IMPORTANT: To add an extra layer of security to your Breez wallet, you can define a PIN code and set it to authenticate that access to the wallet is authorized.
Making your first transactions with Breez
Breez prioritizes intuitiveness in its application. Receiving your first bitcoins with this wallet couldn't be easier. On the home page, click on Receive, then select the method by which you wish to receive your bitcoins.
Breez offers you three options:
- Receive by Lightning or ID invoice: Generate an invoice and get paid.
- Receive via a Bitcoin address: Receive bitcoins with transactions on the Bitcoin main network.
- Buy Bitcoin: Breez incorporates a way of obtaining Bitcoin directly from fiat currencies.
Enter a description for your invoice, then the amount you wish to receive.
⚠️ For your first transaction on Breez, you will have to pay a channel opening and maintenance fee of 2500 satoshis. Unlike most Lightning wallets, Breez provides you with an entire Lightning node infrastructure, giving you the freedom to manage your bitcoins. You'll have to open your own payment channels, and the freedom to communicate directly with the Lightning node from within the application.
Rest assured, you'll only have to pay this fee once, when you initialize your wallet
Once your invoice has been generated, you can share it, or have it scanned to pay the bill and receive your bitcoins.
Sending bitcoins to Breez is just as intuitive as receiving them.
Breez offers you three options for sending bitcoins.
- Paste invoice or user ID: Pay a Lightning invoice.
- Connect to pay: Create a session and invite your recipient to join the session to send them bitcoins.
- Send to BTC address: Transact on the Bitcoin main network.
Then enter the Beneficiary's details or scan to initiate an invoice payment and validate.
The special feature of this wallet.
Beyond being an intuitive wallet for storing bitcoins, Breez is an innovative ecosystem.
You'll find useful services directly in the application.
- Listen to podcasts: Breez is a podcast 2.0 player that lets you support the creators you love with bitcoin donations.
From the menu, select Podcasts, then find, discover and listen to your favorite content creators.
Support the work of the content creators you love by making donations.
- A Point of Sale: Breez adapts perfectly to your business, allowing you to run a point of sale within the application. You can manage your store's inventory, receive payment from your customers and generate printable invoices for every purchase made. What's more, you can find your local currencies in the multitude of currencies supported by Breez.
You can customize your currencies in the Preferences > Fiat Currencies menu.
In the Point of Sale (POS) menu, you can configure the items you sell in your shop.
Once your inventory is complete, you can easily invoice your customers for these products, and accept Bitcoin into your business.
- Access third-party services: Breez integrates third-party services that allow you to take more action without having to leave the wallet. These include Bitrefill, LN Markets, Wavlake, Fold, Fixed Float, The Bitcoin Company, Azteco, Boltz, Geyser, Lightsats, SMS Sats, LN.PIZZA, LNCAL.
The strength of Breez
Breez makes your autonomy its strength. Breez's infrastructure provides you with a functional node with which to interact from within the application (Developers option). You also have the autonomy to customize basic configurations, whether on :
- Connection to Bitcoin/Lightning node: Menu Preferences > Network.
- Customize transaction fees: Menu Preferences > Lightning Fees.
- Managing payment channels: Menu Preferences > Close Channels.
⚠️ IMPORTANT: We recommend that you have some experience with Lightning configurations before making any changes. Your future transactions will be directly affected by your modifications and your bitcoins could be lost.
For the more experienced, you can interact with the node from the Preferences>Developers menu.
Here you'll find Lightning command lines that you can execute by adding the required arguments.
Congratulations, you've now got the hang of the Breez wallet. If you find this article useful, please give us a green thumbs-up. We'd love to hear from you. We look forward to hearing from you!
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