lipa Wallet

The minimum supported version is iOS 15.0.

The support for the Android version of the Lipa Wallet is currently under development and will be available shortly.

You can use the seed phrase to recover your wallet in the same or in a different device. If you don’t have your seed, your funds are gone.

lipa knows of every payment the user makes but doesn't know the source of incoming payments or the destination of outgoing payments. Because we use Greenlight infrastructure, Blockstream knows about the destination of outgoing payments.

No. You should only recover by entering your seed phrase into a new device, if you don’t intend on using a previous instance of that same wallet. It’s dangerous to recover while the other instance of the app is running.

Bitcoin (short: BTC) is a digital currency that is created and stored electronically. Unlike tradiƟonal currencies, which are printed by central banks, Bitcoin is decentralized and created through the use of computer power from people all around the world. It is neither physically printed nor controlled by a central authority. Bitcoin is used to purchase goods and services or conduct financial transactions, thereby fulfilling similar functions to conventional currencies. Unlike the traditional banking system, a Bitcoin transaction is based on the consensus of all parties involved. Additionally, Bitcoin is 'permissionless,' meaning that anyone who wishes to can participate in it.

The Bitcoin Lightning Network, often simply referred to as Lightning, functions as a payment system on the Bitcoin Blockchain. It utilizes Bitcoin as a security layer and processes payments on a second layer. The Lightning Network enables extremely fast transactions that can be settled in a matter of seconds. Once payments are made, they are final and cannot be reversed.

Bitcoin is not merely the first cryptocurrency and the dominant market leader; it embodies an underlying philosophy. Thanks to its dedicated community, Bitcoin stands for true decentralization. The currency's development is exclusively driven by the community, making it immune to pressure or control from a central authority.

Bitcoin ensures security through the Proof of Work mechanism, where bitcoins are generated through actual work effort. They don't come into existence out of thin air; similar to gold, they require real labor and time. Each transaction is verified by participants in the network and then recorded in the distributed ledger (Blockchain). Once this is done, the transaction cannot be altered.

Originally born as a response to banking crises, Bitcoin aims for deflation. This is achieved through gradually slowing inflation, wherein the quantity of newly minted bitcoins is halved every four years. This concept is based on the idea that money should gain value in the future, rewarding savers.

Bitcoin also enables a true separation of money and state, aiming to combat corruption worldwide. It seeks to prevent funding wars through uncontrolled issuance of state currencies. Control over money should lie with the people and the community, not with banks or the government.

The Bitcoin community strives to improve the existing system, and a fundamental pillar of this philosophy is sustainability. The Bitcoin network acts as a final consumer of surplus energy. Excess energy can be utilized by Bitcoin and converted into valuable economic assets, which could also better fund the expansion of renewable energies.

Bitcoin can be regarded as a standalone currency or payment method. Its decentralized structure is achieved through community-developed software operating on a distributed computer network. This system is built upon a decentralized database known as the Blockchain, which is collectively maintained by all participants. All transactions are recorded in this database and cannot be altered thereafter.

To participate in the Bitcoin network, one needs a Bitcoin client like "lipa": a software or online service that facilitates the sending and receiving of Bitcoin. An internet connection is necessary to conduct transactions. The application of the Bitcoin system is globally borderless and accessible from anywhere.

To transmit transactions between participants, the system employs a peer-to-peer network that connects all participating computers. Bitcoin is managed through a digital wallet, known as a wallet. Once confirmed, Lightning payments within the network are irreversible and are confirmed within a matter of seconds.

Bitcoin, the first and globally significant cryptocurrency, was created in 2009 for idealistic reasons by an individual or group hiding behind the pseudonym "Satoshi Nakamoto." The vision behind Bitcoin was to overcome reliance on banks, financial institutions, and trust in intermediaries, while democratizing the monetary system. Satoshi Nakamoto recognized the need for a robust form of money that couldn't be controlled by a central authority like a government. This goal was achieved through Satoshi Nakamoto's deliberate anonymity and eventual withdrawal from the project. Today, Bitcoin is used by people from all over the world and is continuously developed, achieving a maximum level of decentralization.

Bitcoin's success has attracted numerous imitators, often referred to as "altcoins." These alternative cryptocurrencies are springing up abundantly. They frequently promise to be better than Bitcoin in some way. However, it's often overlooked that these projects are usually initiated by a central entity – be it an individual or a company. As a result, altcoins tend to be more centralized, as the voice of the founders plays a significant role in their development.

In contrast, Bitcoin addresses the issue of having a solid form of money that people can use without having to trust a central actor. This has been made possible through the decentralized nature of Bitcoin, where both development and usage are supported by a global community.

Bitcoin is based on a decentralized ledger system where all transactions are cryptographically confirmed through digital signatures and processed across a network of equal computers in a peerto-peer manner. The ownership of Bitcoin does not require a bank or financial institution. As a payment system of the future, Bitcoin enables direct transactions between parties. A unique aspect of Bitcoin is the concept of "Deflation by Design," which anticipates an increase in the value of money over time. This encourages saving and sustainable consumption.

Furthermore, Bitcoin offers pseudonymity: Your ownership and transactions remain private; no one learns how much you possess or when and where you make purchases. You're not reliant on trust in banks or financial institutions since Bitcoin possesses an independent structure. Moreover, no external entity can prevent or manipulate a payment.

A wallet represents a digital purse that provides access to the network and simplifies the use of Bitcoin. Opening a Bitcoin wallet is straightforward and takes just a few seconds – no paperwork or forms required. To make payments in Bitcoin and its smaller unit called Satoshi, the wallet needs to be funded, meaning it must have an existing balance of Bitcoin to execute transactions.

Bitcoin wallets come in the form of desktop applications and mobile apps. Additionally, there are hardware wallets, similar to USB drives. Each personal wallet is equipped with a cryptographic key that is used to authorize payments.

In short, Bitcoin does require a significant amount of energy. In fact, one could argue that Bitcoin stores energy in a monetary form through its Proof-of-Work mechanism. The impact on CO2 emissions heavily depends on the energy source used. Bitcoin miners are generally incentivized to utilize cost-effective energy sources. The most economical approach often involves using surplus energy that would otherwise go unused, primarily including power generated from sustainable sources.

Calculating energy consumption for individual transactions isn't very meaningful, as Bitcoin's energy consumption remains the same under the same conditions, regardless of the number of transactions being processed. The security of the Bitcoin network relies on the accumulated amount of energy invested in the network thus far. This means that changing a transaction would require expending 51% of the total energy used in the network – an extremely costly endeavor.

Instant settlement means that a transaction becomes final as soon as you or your wallet sign the transaction on your behalf using your private key. This signed transaction is then transmitted to the other party. This allows the other party to always prove that you confirmed this transaction. Once transactions are completed, they cannot be reversed or canceled. This is achieved through cryptography via the Lightning protocol, which is built on top of the Bitcoin protocol. If someone attempts fraud, this attempt can be proven. Fraudulent attempts are automatically penalized by the network.