Frequently asked questions

Question 1

What is Phoenix Wallet?

Accepted Answer

Phoenix Wallet is categorized as a software wallet and hot wallet. Phoenix Wallet is designed for managing Bitcoin with native Lightning Network support, enabling fast and low-cost transactions by automating channel management.

Question 2

Is Phoenix Wallet safe & legit?

Accepted Answer

Phoenix Wallet has not experienced any major scandals, hacks, or criminal charges. Phoenix Wallet is open source and non-custodial.

Question 3

Who created Phoenix Wallet?

Accepted Answer

Phoenix Wallet was launched in 2019 by ACINQ, a French blockchain technology company specializing in the Lightning Network.

Question 4

Where is Phoenix Wallet's company based?

Accepted Answer

ACINQ, the company behind Phoenix Wallet, is headquartered in Paris, France. Phoenix Wallet has not undergone any rebranding.

Question 5

How does Phoenix Wallet work?

Accepted Answer

Phoenix Wallet is a mobile application that runs a full Lightning node on the user’s device. Phoenix Wallet simplifies Bitcoin and Lightning payments by automating channel creation, management, and routing. Private keys are generated and stored locally, secured by a recovery seed phrase.

Question 6

When was Phoenix Wallet launched?

Accepted Answer

Phoenix Wallet released December 12 2019.

Phoenix Wallet

Tags

Form

Storage

Platform

Software