💡FAQ

Frequently Asked Questions about ZOEL Wallet

1️⃣ What is Lightning?

The Lightning Network is a payment protocol for utxo-based cryptocurrencies, such as Bitcoin or Litecoin. As a “second layer” protocol it uses the base layer only for dispute resolution or to deploy capital into channels. Through the Lightning Network, users are able to make instant payments at a low fee without consuming the scarce resources of the underlying blockchain. The Lightning Network helps achieve the promise of efficient payments without compromising on the security model of the base layer.

2️⃣ What is ZOEL Wallet?

ZOEL Wallet offers a wide range of features and keeps building to be the most user-friendly Bitcoin Lightning Network wallet, including:

• Receiving and sending sats globally in seconds without a 3rd party (i.e., banks)

• Multiple accounts in one APP

• No-KYC (Know Your Customer) requirement. That means you can use the ZOEL wallet without telling us who you are, who you're sending sats to, or where they're going.

• Customizing your lightning address so that you can send sats just like you send emails.

• Creating your personal lightning page and creating Bitcoin payment with customizable templates.

• Setting up your Bitcoin payment in minutes on the ZOEL Web Dashboard.

• Issuing and redeeming your own NFC gift cards on the ZOEL App and Web Dashboard.

3️⃣ How do I use ZOEL Wallet?

ZOEL Wallet is available on both the App Store and Google Play. You can use it to receive and send sats as soon as you download and open the app.

4️⃣ What is a "SATs"?

"SATs" is short for Satoshis, the smallest unit of the Bitcoin (BTC) recorded on the blockchain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit was named in homage to the pseudonymous creator of Bitcoin, Satoshi Nakamoto.

Bitcoin is most commonly expressed as BTC (bitcoin) or sat (satoshi), with 1 bitcoin being 100 million satoshi. The unicode symbol ₿, formalized in June 2017, is also used to represent BTC (bitcoin), but typeface support is still limited. While not as common, other denominations of BTC such as mBTC (millibitcoins), μBTC (bits), as well as msat (millisatoshi) in the lightning network are sometimes used.

The chart below illustrates how each unit relates to the bitcoin unit.

Unit	Symbol	Bitcoin value
bitcoin	BTC of ₿	1
millibit	mBTC	0.001
bit	μBTC	0.000 001
satoshi	sat	0.00 000 001