Wallet

Q: Bitcoin Jungle is a custodial wallet. What does this mean?

A: A custodial wallet stores all the Bitcoin on a central node. This node acts like a micro bank, allowing instant and free transactions between all the Bitcoin Jungle Wallets.

Q: Isn't Bitcoin supposed to be decentralised? Why are you holding all the Bitcoin?

A: The Bitcoin Jungle Wallet is designed to onboard people to the Bitcoin Lightning Network in the easiest way possible. The wallet is designed to be a quick, easy and free way to make digital payments to friends and merchants. By holding all the Bitcoin on a secure Multi-Sig node, we take away the stress of securing the Bitcoin, so people can focus on making easy, free transactions. However, because of this, your Bitcoin Jungle Wallet is not an appropriate place to store large amounts of Bitcoin. If you have more than a few hundred dollars worth of Bitcoin, we would suggest you move it to a custodial wallet or other form of storage.

Q: What is a custodial Wallet?

A: A custodial wallet is an app where you and only you have the keys to the Bitcoin stored on the wallet. In order to do this, you will need to copy down and store a 24 word seed phrase. If you lose this seed phrase, you will lose access to your Bitcoin. This is a much safer way to store you Bitcoin, but can be quite daunting for first time users. This is why the Bitcoin Jungle Wallet is custodial.

Q: Do I need to use the Bitcoin Jungle wallet to purchase things from merchants in the Bitcoin Economy you are building?

A: No, you can use any Bitcoin Wallet you wish to purchase things. If you do not wish to use use the Bitcoin Wallet you could consider wallets like:

Wallet

Q: Bitcoin Jungle is a custodial wallet. What does this mean?

A: A custodial wallet stores all the Bitcoin on a central node. This node acts like a micro bank, allowing instant and free transactions between all the Bitcoin Jungle Wallets.

Q: Isn't Bitcoin supposed to be decentralised? Why are you holding all the Bitcoin?

A: The Bitcoin Jungle Wallet is designed to onboard people to the Bitcoin Lightning Network in the easiest way possible. The wallet is designed to be a quick, easy and free way to make digital payments to friends and merchants. By holding all the Bitcoin on a secure Multi-Sig node, we take away the stress of securing the Bitcoin, so people can focus on making easy, free transactions. However, because of this, your Bitcoin Jungle Wallet is not an appropriate place to store large amounts of Bitcoin. If you have more than a few hundred dollars worth of Bitcoin, we would suggest you move it to a custodial wallet or other form of storage.

Q: What is a custodial Wallet?

A: A custodial wallet is an app where you and only you have the keys to the Bitcoin stored on the wallet. In order to do this, you will need to copy down and store a 24 word seed phrase. If you lose this seed phrase, you will lose access to your Bitcoin. This is a much safer way to store you Bitcoin, but can be quite daunting for first time users. This is why the Bitcoin Jungle Wallet is custodial.

Q: Do I need to use the Bitcoin Jungle wallet to purchase things from merchants in the Bitcoin Economy you are building?

A: No, you can use any Bitcoin Wallet you wish to purchase things. If you do not wish to use use the Bitcoin Wallet you could consider wallets like:

Wallet

Q: Bitcoin Jungle is a custodial wallet. What does this mean?

A: A custodial wallet stores all the Bitcoin on a central node. This node acts like a micro bank, allowing instant and free transactions between all the Bitcoin Jungle Wallets.

Q: Isn't Bitcoin supposed to be decentralised? Why are you holding all the Bitcoin?

A: The Bitcoin Jungle Wallet is designed to onboard people to the Bitcoin Lightning Network in the easiest way possible. The wallet is designed to be a quick, easy and free way to make digital payments to friends and merchants. By holding all the Bitcoin on a secure Multi-Sig node, we take away the stress of securing the Bitcoin, so people can focus on making easy, free transactions. However, because of this, your Bitcoin Jungle Wallet is not an appropriate place to store large amounts of Bitcoin. If you have more than a few hundred dollars worth of Bitcoin, we would suggest you move it to a custodial wallet or other form of storage.

Q: What is a custodial Wallet?

A: A custodial wallet is an app where you and only you have the keys to the Bitcoin stored on the wallet. In order to do this, you will need to copy down and store a 24 word seed phrase. If you lose this seed phrase, you will lose access to your Bitcoin. This is a much safer way to store you Bitcoin, but can be quite daunting for first time users. This is why the Bitcoin Jungle Wallet is custodial.

Q: Do I need to use the Bitcoin Jungle wallet to purchase things from merchants in the Bitcoin Economy you are building?

A: No, you can use any Bitcoin Wallet you wish to purchase things. If you do not wish to use use the Bitcoin Wallet you could consider wallets like: