Today I recorded a quick live test of my first ever attempt to withdraw Bitcoin from my Satsman account using the Lightning Network.
When I logged in, my account showed a total balance of 43,000 satoshis, with 36,000 available to withdraw. I decided to make a test withdrawal to see how smooth the process would be.
On the wallet dashboard there is a withdrawal panel marked with a Lightning icon. After clicking it, I was given a choice of Lightning wallets. The two options shown were Blink and Wallet of Satoshi. Before I started recording, I downloaded the Blink wallet from Google Play to my Chromebook, although I guess most people would choose to use it on a mobile phone. (I forgot that I had downloaded a Wallet of Satoshi wallet to my phone a few months ago.)
For this test, I decided to withdraw $10 worth of sats rather than the whole lot, which amounted to 12,668 sats when I recorded the video. So I entered a withdrawal amount of 12,668 satoshis, added my Lightning address and the system confirmed that the address was valid. After confirming that the address was correct and acknowledging that Lightning transactions cannot be reversed, I submitted the withdrawal request.
The site immediately displayed a message saying the withdrawal request had been submitted and was under review, with processing expected within 48 hours.
A short while later, I checked my email and saw a message from the Satsman admin. The email explained that the withdrawal would be reviewed within 24 hours for security and fraud prevention. Once approved, the payment would be sent to my Lightning wallet and a confirmation email would follow. I guess I need to allow up to 24 hours for that part of the transaction.
Back in my Satsman account, my balance had already updated. My total balance showed 30,000 satoshis, and the amount available to withdraw had adjusted accordingly. This indicates that the requested amount had been deducted and was now pending.
At this stage, everything in the process worked exactly as described. Now it is simply a matter of waiting for the review to complete and the sats to arrive in the Lightning wallet.
Fingers crossed!
I will report the result in Part 2 or 3. (I have made one more video for US residents.)
Cheers!
Resource
https://satsman.com/?ref=hirohurl (affiliate link)
▶️ 3Speak
