Using Phoenix
On-chain payments
Using the Bitcoin base layer from Phoenix Wallet for settlement-sized transfers.
On-chain payments are ordinary Bitcoin transactions. They are broadcast to the Bitcoin network, included in a block by miners, and then confirmed by subsequent blocks.
What to expect
- Confirmation time depends on how busy the network is and the fee paid.
- Mining fees go to Bitcoin miners, not to Phoenix.
- On-chain transfers are appropriate for larger amounts and for counterparties without Lightning support.