• no ads
  • no ads

Coinkit bot is capable of handling withdraws and deposits over Lightening Network [1] thus reducing fees to virtually zero when you transfer your Bitcoin satoshis among wallets.

Any Lightning compatible wallet will do, for example Wallet of Satoshi, or even another bot like Telegram @lntxbot


1️⃣ Open your Lightening Wallet, press “Receive” and input the amount you want to transfer.


                          Preparing to receive in Wallet of Satoshi

👁️‍🗨️ If you do not wish to install any app, the same can be accomplished through Telegram @lntxbot. In private message with the bot the type:

/invoice [amount]

Replace [amount] for the desired amount in satoshis.

2️⃣ You will get a fairly extensive invoice code. Copy it.


3️⃣ Open private message with Coinkit and make the withdrawal request by entering:

/withdraw [invoice] [amount]

Replace [invoice] and [amount] for the actual data.

Done. It will be sent free of charge.

Using Deposit to move funds between platforms:

Deposit for BTC, or any other coin available at Coinkit, works similar by entering /deposit command.

Problem is on-chain BTC is too costly to send. Micropayments are simply out if the question. While Lightening Network transfer from one account to the next at almost no cost (under one satoshi usually).

So let’s say you want to transfer Coinkit funds from your Twitter to Telegram.

“We are not doing any database tipping, thats why we cant just change numbers, you need to transfer them from one address to another over the blockchain.”

–The developer.

Then, can we use Lightening invoice to transfer from one Coinkit account to the next and save precious satoshis, right?

“Lightning network doesn’t support internal lightning transactions … in Coinkit… so it means … you can’t withdraw from a CoinKit lightning wallet to other CoinKit lightning wallet …”

–The developer.

Okay 😒, but fear not, we will use another Lightening Wallet as intermediate to overcome this difficulty:

1️⃣ Head to your Lightening Wallet and create an invoice with the desired amount.

2️⃣ Pay the invoice from Coinkit account as we show before.

3️⃣ In your second Coinkit account, input deposit command as follows:

/deposit [amount]

Replace [amount] for the desired amount in satoshis.

4️⃣ You will get a new invoice. Copy it.

5️⃣ Pay this invoice from your Lightening Wallet.

Done. You have transferred between accounts, over Lightening Network.

Monolith, signing off.

[1] https://lightning.network/ 

Related post