Aqua Wallet for Bitcoin, Lightning & Liquid Network Transactions

Learn how to use the Aqua Wallet for Bitcoin, Lightning and the Liquid Network (L-BTC and Tether/USDT). The wallet is for mobile devices and let’s you keep custody of your bitcoin (not your keys, not your bitcoin!)

New to the Liquid Network? Watch this video first – https://www.youtube.com/watch?v=IhRbIZQTPcs

Aqua Wallet Site: https://aquawallet.io/

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Hey what’s up it’s Nathan here with dbtc course.com and in this video we’re going to check out the aqua wallet which is a self- custodial Bitcoin and liquid Network wallet that also has some support for the lightning Network and so let’s go ahead and get straight into it

Now I do recommend you watch this video first on how to actually use the liquid Network because it’ll probably fill in some gaps that I don’t quite cover in this particular video so Link in the description down below if you’re unfamiliar with liquid network but anyway Aqua wallet is available at aqua

Wallet.io and it’s available in the App Store and it’ll soon be on the Google Play store or you can download the APK file and it is a brand new wallet it literally came out yesterday so they’re adding new functions and features you know regularly so there might be some

New extra features when you’re using the app yourself but anyway you can come check out their website here or you can go to the App Store and go ahead and download it on your mobile device and so what I’m going to do is switch over to my mobile device here and we’ll go

Through it together so let me pop up Aqua here and as you might notice I am on an iPhone or iOS and these devices are current c l missing the swap function I’m hoping they get that feature added very soon it’s just the Apple Store is very stingy and for

Whatever reason they’re not letting them add that feature at this point in time so anyway here we are inside of the app here and we could go ahead and create a new wallet or restore an existing one I’m going to create a brand new one but

If you have a seed phrase already you could go ahead and restore your existing wallet so I’m going to create new wallet and I need to accept the terms and privacy policy so I’m going to take this little block first and then create new wallet so it goes and it creates my

Wallet for me and we’ll come back to this screen in just a second here but first what I want to do is come over to settings and I want to view my seed phrase so tap on view seed phrase and right here have my 12-word seed phrase

Or recovery phrase so these 12 words right here is basically my username and password for accessing my cryptocurrency on the blockchain so I want to make sure that I don’t share this information with anyone because if they have these 12 words they can steal my Bitcoin or my

Lbtc and so you want to go ahead and write this phrase down and hide it away someplace nice and safe and secure so I’m going to go ahead and write this down real quick and then I can close out of this screen and then we’ll go back to wallet

Right here so this is reasonably self-explanatory right here we have the Bitcoin price so you see how much Bitcoin is currently worth we can go ahead and receive assets which will do in just a second we can send assets we could also scan QR code so if there’s an

Invoice we want to pay we could go ahead and scan it with this we have our quote unquote savings account which is our onchain Bitcoin account right there and then we have our spending accounts which includes the lbtc and also the lightning Network which we’re going to cover in

Just a few minutes here and also you can go ahead and store tether usdt over the liquid Network within this wallet as well so let’s go ahead and send some Bitcoin to our wallet so I’m going to go ahead and tap on receive right here and

Then it gives me different options so we have Bitcoin so this is onchain Bitcoin we have liquid tether right here so this would be tether over the liqu liquid Network then we could also do a lightning transaction which is what we’re about to do additionally we could

Go ahead and do a liquid liid Bitcoin transaction so if you have lbtc you could go ahead and send that to your wallet and this wallet also supports tether over ethereum and also tether of over Tron as well so it has different networks that are supported within this

One wallet which is kind of nice but what I’m going to go ahead and do is I’m going to send some Bitcoin over the lightning Network into my Aqua wallet so I’m going to go ahead and tap on Lightning right here and I can go ahead

And set the amount I want to receive or I could go ahead and tap on this button right here and I could say how much USD I want to receive so say that I want to go ahead and receive $10 worth of coin into my account which is about

22,690 sets service fee which is 21 cents which is kind of significant that’s about a 2.1% fee on a $10 transaction which which is kind of high now if you’re sending more than that you can see if I was sending $100 well then I’d only be paying a 44 C fee so it’s

About a 44% fee to send $100 and so this is how we get into how the aqua wallet works and gives you self- custody of your Bitcoin because what it is doing is it’s going to take that lightning transaction and it’s going to convert it into lbtc or liquid Bitcoin so it’s

Stored behind your keys or protected by your keys and so it’s not actually a true lightning wallet it’s and so it’s not actually a true lightning wallet it takes your lightning Bitcoin converts it to lbtc which is protected by your private keys or your seed phrase and

That’s why it has a higher fee than normal lightning wallets so if you’re intending to use the aqua wallet for a lot of lightning payments it’s probably not the best option however if you want to maintain custody over your Bitcoin or your lbtc well then the aqua wallet

Might be a good option so hopefully all that makes some sense anyway I’m going to go ahead and send $10 worth of bitcoin to myself over the lightning Network so I’m going to go ahead and generate that invoice and I’m going to go ahead and copy it and then I’m going

To go over to my lightning wallet and I’ll paste my invoice in here and proceed and pay this invoice which back over to my Aqua wallet and it’s processing and there we go so I’ve received 22,651 sets right there I can go ahead and tap on that option and I can see my

Transaction right here you can see that I have lbtc right because it took that lightning payment and converted it to lbtc which is why I had to pay that fee and I can go ahead and tap on my transaction as well and I can get more

Det details like I could look at my transaction ID and revew it in the block Explorer if I want to go ahead and do that but I’m not going to worry about it at this point in time so I’ll go ahead and close out of here and come back out

To the main wallet page so we’ll talk about sending in just a second here but what I want to do is talk about the marketplace real quick so we need to go ahead and select our region first so let me go ahead and do that and so here we

Are in the marketplace and ask what I would like to do so soon we’ll be able to buy Bitcoin from within the app we’ll also be able to swap which is going to be very useful like I mentioned in the beginning of this video that way we could swap between Bitcoin or liquid

Bitcoin and put it into tether and back and forth as we need we’ll also be able to pay bills through the app and also it looks like they’re coming out with a debit card or something like that so some cool stuff coming in the near future but hopefully they add the swap

Soon because I think that’s kind of like a required feature however I do understand that the Apple App Store has very strict rules and so I know that they’re working on it but if you are interested in doing swaps I do recommend watching this video right here here

Because I do show how to do swaps in this video anyway back over here and we’ll go back to the wallet section now and talk about sending so what we want to do to send we just come up here to send and we have some different options

So if I had Bitcoin in my wallet so onchain Bitcoin I could go ahead and send from here but I don’t have any so nothing to send same concept with the liquid usdt or liquid tether so I could go ahead and send from within my account

But what we do have is is layer 2 Bitcoin so I have lightning and liquid Bitcoin we have both of these options we could use so if I tapped on lightning real quick we could see that I could send 22,170 sets and if I go to liquid

Bitcoin we can see that I have the same amount of sets right there 22120 sets available to go ahead and send so even though I sent Bitcoin into my wallet over the lightning Network I could do both lbtc or liquid Network Bitcoin and also Bitcoin over the

Lightning Network so I’m going to do two separate transaction so you can see both options here so let’s go ahead and do a lightning transaction first so I’ll come into lightning and I need an invoice to go ahead and pay so I’m going to go ahead and generate one in my lightning

Wallet so I’m going to come back over to Zeus real quick and I’m going to go ahead and request to receive some Bitcoin and I’m going to go ahead and just throw in 10,000 sets and create an invoice and I’ll go ahead and copy this invoice and then I’ll move back over to

My Aqua wallet and I’ll go ahead and paste my invoice right here and then I’ll go ahead and tap on done and then I’ll do continue and you can see right here that there is a fee again because I’m switching from liquid Network Bitcoin or lbtc over to lightning

Network Bitcoin so there’s a large fee of 4.26% which is really large especially when the lightning network is usually like one sat or so per transaction and so again I would not recommend using the alal wallet as like your primary Bitcoin lightning wallet because the fees are just too high on

These smaller transactions in an actual lightning wallet you would have much smaller fees however I do like the fact that it is self- custodial and also plays really nicely with the liquid Network so there is some pros and cons to it but yeah for an everyday use lightning wallet probably not the best

Fit but if you’re trying to maintain control of your Bitcoin and you’re not doing a whole bunch of lightning transactions then the aqua wallet might be perfect for you anyway I’m going to go ahead and do slide to send and I’ve sent that those sets so I’m going to

Switch back over to Zeus real quick and I can see that I’ve already received my 10,000 sets I can go to my wallet and there we go I have my 10,000 sets so come back over to Aqua and I’ll go ahead and tap on done and I can see that I now have

11,694 sets here in my wallet so I’m going to go ahead and tap on here and we’ll go ahead and tap on send and this time I’m going to go ahead and do liquid Bitcoin right here and I’m going to go ahead and generate a QR code on my

Computer I have a wallet here on Sid swap so I’m going to go ahead let’s see if if I can do this and receive and regular wallet generate so there’s a QR code so I’m going to go ahead and tap on the scan button here and scan my QR code and

There we go scan my QR code so I’m going to go ahead and send the max amount over so I’ll tap on send Max and continue and so here is a summary of my transaction and I can see that’s going to cost me about 6 cents transaction fee

To send it over the liquid Network I’m going to go ahead and tap on slide to send and there we go you’ve successfully sent that amount of lbtc so let me come over to my wallet here and close out of here and I should see it popping up and I do right here

There’s my 11,556 lbtc waiting on two confirmations and of course in my other YouTube video that I mentioned earlier this one right here I do talk about how to use the Sid swap app so if you’re interested in learning more about it definitely watch that video but anyway

I’m going to go ahead and tap on done down here and so there you go that’s how you can go ahead and receive and send Bitcoin and lbtc from the aqua wallet again it’s a brand new app so I know they’re adding more features like the

Swaps and everything so I expect it to be a very useful tool in the near future and I hope you found this video helpful if you did I appreciate any sorts of likes comments subscribes anything like that and or please check out the BTC course.com it’s a free website with lots

Of Bitcoin training on it and it’s just my way to try and give back to the Bitcoin community all right I hope you have a great rest of day