Default avatar
nobody 1 year ago
Two questions for the folks at @alby. What is the purpose of the savings account? Will there be a connection to a hardware wallet in the future? It’s my understanding that you want to keep your savings off of an exchange and when possible, on something tangible like a onekey, ledger, jade, etc. So, that would be appealing if that sort of functionality were added so that I don’t need to use a completely different wallet. As it stands, I have decided on using onekey since they have several different levels to start at. In my current circumstances dropping a couple bills on a product from a company I know nothing about, isn’t an option. Their app seems to have most of the functions I need. It has a lightning option as well but I obviously won’t need that if I have y’all. That would solely be used for purchasing and stacking to the heavens.😁 #alby

Replies (4)

Default avatar
nobody 1 year ago
I dont think @Alby was notified of this post, hopefully they will see it now. I would also appreciate a bit more patience when it comes to getting my minimums up. What little is thereis in there will have to be used for my monthly payments as Hurricane Milton recovery will be devouring what little extra I have. My email address has also been updated, in case y’all have tried to reach me that way. Thank you for your continued understanding.
Hey! Thanks for your message. I'll address all your questions now, I don't think we can differentiate Hurricane affected people from other users, if you need to make a proposal about it feel free to write to hello@getalby.com . Support & inquiries requests can be better handled at getalby.com/help and always leave your email in the chat just in case we are not online, we can still reach you back. "What is the purpose of the savings account?" -> It is the onchain side of your self-custodial wallets. A self-custodial wallet has its own lightning network channels. In order to create a channel with your own funds you need to do so with onchain funds. Also, If a channel ever closes, those funds need to go somewhere: They go to the onchain side of your wallet, your Savings Balance. "Will there be a connection to a hardware wallet in the future?" -> Nothing like that is thought at this moment. You can always place your suggestion on our feedback forum: About having your money off the exchange, we also do not recommend using the "Savings Balance" as a long-term hodl account. It is more like an in-between onchain Savings Balance, where sometimes funds have to be moved in between on-chain and the lightning network, that is why it must exist. Alby Hub is mainly a lightning network wallet & swiss knife that will let you do lots of things with your Bitcoin in the lightning network with the use of app connections. That is why you must choose us ;) Feel free to reach us back if you have further inquiries, Best, JP
Default avatar
nobody 1 year ago
I completely understand. The hurricane remark was more of a joke. You’re a company, like any other. I appreciate your explanation of the saving account, that makes perfect sense as I start to understand lightning a bit better. And that also explains why there are no plans for question two, haha. I can certainly appreciate the utility of this product, the exceptional customer service and the noob friendly nature, which is why I had to give it a try. However, it’s possible that it may not be the right fit for me at this time. Nothing that you have done, but I just don’t know if/when I would ever be able to use your service as it is meant to be used since most of my funds would be going towards bitcoin(savings). I would keep the minimal I could on lightning, just to have some to zap and keep the channel open, at least for now, til I get a healthy stack. Which seems the complete opposite of what you’re offering. I am sure by the time my sats get that stacked, lightning will have become the default currency anyways. 😝 If at any point in the future, y’all add some sort of cold storage option, I would certainly jump all over that. It has been nice having personal support. 😊
Everyone can go at their own pace, no rush. We'll be here whenever you're ready to dive into the Lightning Network universe 🚀🌍⚡ Best, -JP