How does Phoenix wallet work?

Phoenix, just like Eclair Mobile, is a non-custodial Lightning wallet. It is based on Eclair and runs a real Lightning node under the hood . The keys never leave the wallet and you would still be in full control of your funds if ACINQ disappeared overnight, or even the whole Lightning Network for that matter.

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What does wallet mean in Bitcoin?

A Bitcoin wallet is a device or program for holding and sending Bitcoins . Bitcoin wallets contain the private keys needed to sign Bitcoin transactions. Anyone who knows the private key can control the coins associated with that address. The most secure Bitcoin wallets are hardware wallets.

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