Olaniran
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All over the world, initiatives, communities and circular economies are springing up around Bitcoin to solve specific problems faced by populations. In this tutorial, we'll take a look at one of these initiatives, Fedi Wallet, which provides not just a wallet, but an entire customizable ecosystem for your community.
Getting started with Fedi Wallet
Fedi Wallet is a mobile application available on Android (Google Play Store) and iOS (Apple Store), bringing together a whole ecosystem of customizable features to meet the needs of your community.
⚠️ It is essential to download and install the Fedi wallet on an official platform to ensure the reliability and authenticity of the application.
Fedi Wallet is a Bitcoin wallet that comes with a new approach to saving your keywords. Usually you have two options when choosing a Bitcoin wallet:
- Custodials: You decide to place your trust in an external entity, the wallet developer, who will keep the recovery words for your wallet for you. You have neither access nor the ability to export your Bitcoin wallet.
- Self-custodial: The application gives you access to recovery words as soon as you create your wallet. So you can freely export your bitcoins to the wallet that suits you best.
Instead, Fedi Wallet offers the federation approach, which lets you join a group of people you trust to manage your wallet keys. You can join a popular federation suggested by Fedi, or join the local federation in your community by scanning a QR code or pasting the federation's invitation code.
⚠️ Please store minimum amounts that you can afford to lose, as federations may be inactive or closed with a 30-day delay before deletion.
However, this federation does not prevent you from owning the private keys to your wallet.
Once you've created your wallet and joined a federation, in your profile information, in the Personal Backup section, you'll find your wallet's 12 keywords.
Find out more about our recovery word backup recommendations:
For each federation you join, Fedi distinguishes your bitcoins by creating separate wallets.
Trading on Fedi
Depending on the federation configuration to which you belong, you may have restrictions on the balance and spending of your bitcoins. In fact, each federation on Fedi has a balance and spending threshold that you can find on your profile.
In the Federations menu, scroll down to a federation, then click on Federation Details to find out which thresholds have been set.
- Receive bitcoins on Fedi: On the home page, select the federation you wish to use to receive bitcoins, then click on the Receive button to create a Lightning invoice with an amount to receive.
- Send bitcoins: On the home page, click on the Send button to send bitcoins to a Lightning address, to pay an invoice or make an offline payment.
One of the special features of the Fedi wallet is that it can be sent offline. You no longer need Wi-Fi or a good internet connection, you can spend bitcoins anytime, anywhere.
With offline payments, you can spend bitcoins within your federation, while improving your privacy and that of your financial interactions.
Click on Send offline and set the amount of satoshis you wish to send.
Your recipient will need to scan the generated QR code to claim the satoshis.
Offline payments are mainly made using e-cash. The transaction is stored in your phone, and as soon as you access the Internet, confirmation of the transaction becomes automatic. You can also confirm the payment manually by clicking on Confirm transaction.
Exchange on Fedi
Fedi features instant messaging in the Chat menu, allowing you to chat, make payments and share media with other Fedi users, both in and outside your community.
To start a discussion with a Fedi user, insert their login or scan the QR code available on their profile.
You can send satoshis to this user without leaving your conversation by clicking on the Wallet icon and setting the amount of satoshis.
Modules
Fedi's modular menu lets you find the best applications used by your community.
In the Mods menu, you will find applications such as :
- Bitrefill
- BTC Map: Discover local businesses that accept bitcoins.
You can also add your own applications by clicking on the Plus icon, then manually scan or save the URL of the website you wish to add.
On the home page, you'll also find the most popular modules within your federation.
In the Mods menu, you can request the creation of your own federation for your community.
Click on the Create a Federation module, then begin the process of creating your federation. The creation of a Fedi-validated federation involves a mentoring training session led by Bitcoin Mentor and Fedi teams to enable initiators to discuss their community's goal, the implementation of federation specifics. The main aim of this program is to screen federation initiatives to ensure constructive use of Bitcoin within the community.
You've just taken the Fedi Wallet tour, you're now in a position to harness the full potential of this wallet in your community. If you enjoyed this tutorial, we're sure you'll enjoy our tutorial on Blink (formerly Bitcoin Beach), a Bitcoin wallet initiative originally designed to build and develop a circular economy on Bitcoin in El Salvador.
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