Welcome to the money of the future 1.

This little book will help you to start accepting bitcoin in your business. The initial setup is easier, faster and cheaper than the legacy fiat setup and you will be instantly connected to a new world-wide customer base!

This booklet will take you step-by-step to install & activate a free “bitcoin wallet”. It will only take 3 minutes and no technical know-how is needed. In the process you will learn a few new things about this free-to-use revolutionary digital money network.

LightningPlaces will guide you through your bitcoin exploration journey. For your disposal we have an oversight of the latest technologies, solutions and developments which can make your business operations more efficient, borderless and future proof.

Bitcoin is the future. You can easily and quickly accept bitcoin by using the Lightning network. We will explain how to do this and you will experience how super easy this works.

What are bitcoin Lightning payments?

Compared with the money we are currently using there are similarities: Bitcoin is the unit, like a Euro, USD or GBP. The ‘Sat’ is the smallest denomination of 1 bitcoin, like 1 cent.

(1 BTC = 100.000.000 Sats) The wallet is like your bank-app and the Lightning network is the payment system. This enables you to transact with the speed of light.

Why would I accept bitcoin Lightning payments?

By accepting bitcoin Lightning payments, you open your business to a completely new & fast-growing customer base: the bitcoin user.

The main benefit of the Lightning network compared to legacy payment providers is that there is no intermediary between the transaction. There is no third party to facilitate the transaction. This results in the ability to execute direct peer-to-peer payments on the most secure, fastest, cheapest and censorship-resistant payment network that exists today.

You will be able to cut costs substantially on banking- and transaction fees. Payments over the Lightning network are nearly free, censorship-resistant, anonymous, irreversible and settled in finality. This enables you to do business with anyone in the world without the possibility of fraud or chargebacks and without mandatory exchange of personal information needed for the transaction. And just like cash: you are instant owner of the received bitcoin. The good thing about this is that you yourself can set this up within 3 minutes. Then you will be ready to start accepting bitcoin!

2. Accept bitcoin Lightning payments within 3 minutes

This is what you need: a smartphone, access to Internet and an app-store. For our setup we will use “Wallet of Satoshi”. This wallet is used worldwide due to its safety, ease of use, stability and speed. The wallet is equivalent to the cash wallet we know except this one is a digital wallet in which you will hold your digital cash: BTC –bitcoin.

Select your desired fiat currency display & language.

Below you will see a red marked notification ‘Login to Back Up’. It is advisable to do this. You can link your wallet to your email address. In case you lose your wallet (theft, malfunction phone etc.) you can always recover your wallet on a new device. It is optional however, not mandatory.

Your bitcoin Lightning wallet is now ready for action!

Practical daily use of the wallet

Your wallet is installed and ready to go. Now you want to accept payments. This is how you do it.

To receive a payment over the Lightning network you have to create a payment request (invoice)

• Select ‘Receive’

• Select ‘Lightning Invoice’

• Add amount to be received.

• Select ‘Generate Invoice’

On display you see the invoice information (in QR and alphanumeric) which you show to the Payer or share with the Payer. The Payer scans the QR code or imports the shared invoice information, checks if the amount is correct and finally sends the amount to be paid.

Other ways to accept transactions using this wallet

Besides creating an invoice with a specified amount there are three other ways to receive bitcoin payments. You will find them using these buttons: ‘Lightning’, ‘Bitcoin’ and “Lightning Address’.

Without entering the specific amount to be received you will create an open invoice. The Payer can choose any amount it wants to send. After the invoice is paid a new invoice will be automatically generated by the wallet as invoices can only be used once. If you do add the amount to be paid? Then the Payer will have to pay the specified amount. An invoice can only be used once and will expire after 3 days.

Here is the option to receive directly via the Bitcoin network. This is also called “on-chain”.

Your public receiving address appears as QR code and as the actual alphanumeric code. You can easily show the QR to the Payer or share the receiving address with the Payer.

The Payer will add the amount to be send. Because this will be an on-chain transaction, settlement can take minutes to be finalized.

After each transaction the wallet will provide you with a newly generated receiving address. However the previous receiving addresses will be valid forever and are re-usable.

This makes on-chain public receiving addresses very well suited for donations and receiving bigger size payments.

This is your permanent public Lightning receiving address that can be re-used in infinity. It is an open invoice that never expires.

Your public Lightning receiving address appears as QR, in alphanumeric information and in an ‘email address’ format.

You can get paid in three ways: Scan the QR code, share the alphanumeric information or share the ‘email address’ with the Payer.

The Payer will choose the amount he or she wants to pay to your receiving address. This is a fantastic option to receive (micro) donations from anyone in the world!