Routing payments on the lightning network can earn you a sustainable low-risk yield on your bitcoin, but it is hard to get meaningful earnings if you’re not a large routing node… until now.
This guide will walk you through how to generate reliable earnings by using the earning features that the Deezy node offers.
Recommended Prerequisites:
- Some bitcoin (ideally greater than 1.0 BTC, but you can experiment with as low as 0.005 BTC)
- Familiarity with sending bitcoin on-chain, and some vague familiarity with the bitcoin lightning network
- A custodial account with any of Bitfinex, Kraken, Wallet of Satoshi, Nicehash, or other service that accepts lightning deposits and on-chain withdrawals
The Basic Steps:
There are a few steps involved in the process of generating reliable earnings from the Deezy node, to be done in the following order (once you have a lightning node set up):
- Deposit BTC to your lightning node
- Open a channel with Deezy
- Get the bitcoin to flow from your side of the channel to Deezy’s side. There are a few ways you can do this, but in this guide we are going to be manually sending through the Deezy channel to one of your accounts on a custodial exchange
- Tell Deezy you’d like to earn a reward for providing liquidity
- Deezy pays you, then closes the channel
- Repeat as many times as you want! (Send the funds on-chain from your custodial account back to your lightning node to keep it going)
Automation
Note this process can be fully automated with either of these two open source tools:
Why it Works: