A Bitcoin wallet is ideal for long-term storage and investment, suited for "HODLing" BTC. A Lightning wallet, on the other hand, facilitates fast, low-cost transactions for daily spending and is also useful for accumulating Bitcoin before transferring it to a hot or cold wallet.
The phrase "Not your keys, not your coin" underscores the importance of owning the private keys to your Bitcoin, emphasizing that without control over these keys, you do not fully own your BTC. This principle is particularly relevant for users of custodial wallets like Blink, where the platform holds the keys and, consequently, control over the funds. To ensure true ownership and security of your Bitcoin, it's crucial to withdraw your BTC from custodial exchanges and manage your own keys directly
The Bitcoin network records and validates transactions on the blockchain, with slower speeds and higher fees. In contrast, the Lightning Network operates as a layer-2 solution for faster, cheaper transactions, improving scalability for everyday Bitcoin use.
"Stacking Sats" involves accumulating small amounts of Bitcoin, known as satoshis, over time. This popular strategy among Bitcoin enthusiasts offers significant long-term benefits by gradually increasing one's Bitcoin holdings
