Oddbean new post about login | logout They charge high fees if you try to move your sats to another wallet
I just tried sending from my coinos wallet to alby and there were 0 fees. I sent 995 sats and received 995 sats.
They must have changed that then They used to have high fees 🤔
Lightning fees can be high if you’re sending a large amount depending on the route taken to reach the receiving node. That fee is not up to them though. They prob have a direct channel to Alby which is why there were no routing fees for my tx.
test it with 500k or more sats, and the check the fees. <1k sats not enough for a litmus test
I wouldn’t use their wallet to hold that many sats and wouldn’t recommend anyone to though
Good point. although for a custodial starter micro merchant wallet, which it seems to be commonly used for, what would you think is a reasonable limit? 250k ? 100k?
Depends on the person and the price of bitcoin. I personally would prob keep around 50k sats max in it.
ok that's reasonable. It interesting to me, to see the small custodial wallets and their limits before doing self sov or stepping into a higher limit. i think the zbd game wallet has a max of 250k. Lets say someone starts with nothing and they accumulate, they'd need to get to around 250-500k sats before they can start opening channels on say, alby hub. or go custodial with a bigger provider.