⬆️Buy Bitcoin & Top up your wallet

This guide is for purchasing Bitcoin and having it sent directly to your wallet, or topping up your wallet with Bitcoin you already own. 😊

Alby Hub provides you various ways to top up your savings and spending balance.

1. Top up savings balance (onchain funds)

2. Top up spending balance (lightning network funds)

1. Top up savings balance (onchain)

Topping up your savings balance is convenient. You can:

1.1. Buy Bitcoin through other services

You will find an overview of traditional exchanges and peer-to-peer exchanges here. Once you've bought some Bitcoin, you can withdraw it from the exchange and transfer it to your Hub. 👇

1.2. Deposit a Bitcoin from a an onchain/mainnet Bitcoin wallet

You can also use this method to deposit Bitcoin that was bought through a traditional exchange, just as stated on step "1.1. Buy Bitcoin through other services", by withdrawing Bitcoin onchain/mainnet.

1. Navigate to the "Node" page and click on "Deposit"

2. Copy the bitcoin address ("bc1...") or scan the QR code to deposit bitcoin from another bitcoin wallet or exchange of your choice.

3. After one block confirmation (~10 min.) the deposited funds appear in your savings balance. ✨

If you're depositing on-chain funds into your Savings Balance, keep in mind that these funds are not yet on the Lightning Network. The Savings Balance is the on-chain part of your wallet, and you'll need to create a Lightning channel with the deposited funds. For this reason, we recommend depositing at least 260,000 satoshis, as the minimum channel size is 250,000 sats plus an extra 10,000 for possible fees. 😊

To make the funds ready for lightning fast payments you’ll need to transfer them to your spending balance. 👇

2. Top up spending balance (lightning network)

Topping up your spending balance is convenient. You can:

2.1. Make a channel with funds from your Savings Balance (You need funds on Savings Balance)
2.2. Request a payment from a another lightning network wallet (You need "Receiving Capacity")
2.3. Make a swap to transfer on-chain funds (You need "Receiving Capacity")
2.4. Buy bitcoin credited to your savings balance (You need "Receiving Capacity")

2.1. Make a channel with funds from your Savings Balance

This section is for topping up your wallet with Bitcoin you already own. 😊

You don't need "Receiving Capacity" to top up your Lightning wallet using this method. 🙌

You're going to use the Bitcoin in your "Savings Balance" (the on-chain side of your wallet) to create a channel with your own liquidity. You need a fair amount of liquidity, but don't worry you won't lose those satoshis. Once the channel is opened, all your satoshis will be inside it, meaning the channel will be fully filled with your Bitcoin. 🥳

1. Navigate to the "Node" page and click on "Top Up"

You’ll then be guided through the process of opening a channel using your own funds. For detailed instructions, follow the step-by-step guide provided:

📤Top up Spending Balance

Remember: For this method of topping up we recommend having at least 260,000 satoshis in your Savings Balance. This covers the minimum channel size of 250,000 sats, plus an extra 10,000 for possible fees. 😊🙏

2.2. Request a payment from a another lightning network wallet

Before attempting to receive a payment, make sure you have enough "Receiving Capacity."

To increase your "Receiving Capacity," click "Increase" in the top-right corner of the "Node" section in your Alby Hub. You'll receive an invoice from a Lightning Service Provider (LSP), which will allow them to open a channel back to you with enough receiving capacity. 😊

It might sound complicated at first, but opening a channel this way is actually the smoothest and easiest experience! 🙌 More about opening a channel from an LSP with Receiving Capacity here 👇

📥Increase Receiving Capacity

Once you have enough "Receiving Capacity", simply request a payment from another wallet on the lightning network here 👇

📥Receive

2.3. Make a swap to transfer on-chain funds into your existing Lightning Network channel without the need to create a new one.

Before attempting to receive a payment, make sure you have enough "Receiving Capacity."

A swap is a movement of funds from a bitcoin mainnet (on-chain) wallet, to a lightning network. We do not provide that service ourselves, there are several swaps providers. The providers act as an intermediary on taking the onchainfunds, and sending you the satoshis through the lightning network. (You can also send funds from lightning back to mainnet with a swap). Here is a list of possible swap providers where you can make a swap:

2.4. Buy bitcoin credited to your spending balance

This guide is for purchasing Bitcoin and having it sent directly to your wallet. 😊

Please ensure your Lightning Network channels are open and online while waiting for the payment to reach your wallet. 😊 You must have enough "Receiving Capacity".

Buy bitcoin and have it directly credited to your spending balance currently works if you configured EUR, CHF or GBP as your default currency in the "Settings" of your Alby dashboard on getalby.com.

Navigate to the "Node" page and click on "Buy"

Enter amount and currency and click on "Next"

You’ll be redirected to your Alby dashboard to complete the purchase using SWIFT/SEPA, credit card, or PayPal. Available payment options may vary depending on your country, as some methods are only compatible with specific regions. 🌍

The entered amount and the bitcoin address from your bitcoin savings wallet are automatically provided as input. Follow the instructions from Bitcoin seller and you'll receive your BTC purchase after one or up to six block confirmations (~10 min.) in the savings balance of your Hub.

It’s important to note that we do not sell Bitcoin ourselves. Instead, you’ll be interacting with a third-party Bitcoin seller. When you proceed, you’ll see a window displaying their services, and from that point, you’ll be engaging directly with their system and operations.

After selecting SEPA, SWIFT, PayPal, or credit card, you’ll receive the transfer IBAN or be redirected to Mt Pelerin or Pocket to complete your transaction.

SEPA: Transfers from your bank account to the mentioned account on your screen will be converted to Bitcoin and transferred to your wallet. Depending on your bank the transfer might take 1-2 working days. You must transfer from your IBAN account and with the reference mentioned.

We partnered with Pocket Bitcoin to provide you with a convenient method to top up your spending balance. If you send money via Instant SEPA your bitcoins appear only a few minutes later in your spending balance. (Banking hours apply)

SWIFT or credit card: Simply follow Mt Pelerin instructions.

We also partnered with Mt Pelerin to provide you with a convenient method to top up your spending balance. If you send money via SWIFT or credit card your bitcoins appear only a few minutes later in your spending balance. (Banking hours apply)

Congrats! You successfully topped up your wallet. 💪

Thank you for stopping by! This section was created with contributions from Moritz & Jean-Paul

Last updated 17 hours ago