Who is the BoltRing for?
The Bitcoin BoltRing v1 is targeting makers, early adopters and Bitcoiners, willing to recklessly risk their Satoshis in the name of progress. :)
Why would I spend any of my Bitcoin?
Because it would be boring to sit on your Bitcoin all day long. Spend and replace 2x is the way. Ideally you don’t even hold any other currency you could spend. Right? Riiiight?
How does the BoltRing work?
The ring must be paired with a bolt service. Once set-up it generates unique and encrypted LNURL LUD-17 links with replay protection. Merchants with NFC support at their Point-of-Sales can read the ring and do a limited one time withdraw from your connected lightning wallet.
Which software is supported?
To make payments with the BoltRing you need to connect it with a lightning wallet that supports bolt card hosting. Here is a list of wallets that support bolt services:
- Bolt Card Wallet (Open Source)
- CoinCorner Wallet (Commercial Service)
- LNbits Wallet with boltcards extension (Open Source)
Where can I pay with the BoltRing?
You can find a community curated global directory of merchants that accept bitcoin at https://btcmap.org/. You can check if a merchant supports contactless lightning payments in the detail view:
The BoltRing can make payments to merchant bitcoin wallets that support contactless NFC lightning payments. Here is a non exhaustive list of supported merchant systems:
More support within the ecosystem is on its way.
What if I lose my BoltRing?
Your BoltRing does not hold bitcoin. Instead it is connected with an online lightning wallet through a bolt service. You can deactivate the connected bolt service if you lose your BoltRing.
How secure is the BoltRing?
The BoltRing uses a secure NFC chip that dynamically generates replay protected LNURL-Withdraw links. To improve security you should set reasonable limits and timeouts on the connected bolt service. Remember the BoltRing is not a hardware wallet. Use it responsibly with small amounts for daily spending only.
Where can I find detailed documentation?
The BoltRing is based on an open protocol and can be used together with different wallets and services. See https://boltcard.org and https://docs.bolt-ring.com for a more detailed documentation about the possibilities on configuring and using your BoltRing.