AQUA Wallet - Our Review of the Product

Last January 3, the Bitcoin company JAN3 officially launched the new AQUA bitcoin wallet . This wallet aims to simplify Bitcoin transactions and take advantage of the Lightning and Liquid protocols.

The app is already available on the App Store and in APK . Rather than simply reporting the news of the launch, we tested the app in its main features to tell what we thought of the user experience and the product.

The app supports three “accounts” by default:

• Bitcoin on-chain that we are all used to
• “bitcoin layer-2”
• Tether USD.

The “layer-2” account is particularly interesting, as this function should simplify transactions between the Liquid and Lightning networks, automatically converting L-BTC and Lightning sats. In this way the app aims to improve privacy, reduce commissions and increase transaction speed. This functionality is supported by the well-known Boltz exchange, which operates automatically in the back-end of the software.

Deposit sats on AQUA

In concrete terms, just click on “receive” to generate a Lightning (or Liquid, alternatively) invoice.

At that point, we simply pasted the invoice onto our preferred LN wallet and 10,000 sats immediately appeared on our AQUA wallet. So far so good.

Stablecoins e swap su Liquid

Now that we have funds on AQUA, we can convert them to another asset such as Bitcoin on-chain or stablecoin on Liquid. Let's try the second one.

The funds are immediately converted into the Tether stablecoin, which in turn can be transferred to another wallet that supports Liquid without having to deal with the famous Bitcoin volatility problem.

In the settings there is then the option to use stablecoins denominated in euros and Japanese yen.

Privacy and purchase Bitcoin directly on AQUA

AQUA has paid particular attention to privacy, giving priority to data security. JAN3 confirmed that the app does not log user data, has no data collection servers, and highlighted the non-custodial nature of AQUA.

However, there is an optional KYC/AML procedure that is applied exclusively to specific third-party services accessible via the Android version, such as the possibility of purchasing sats with credit card, bank transfer, or mobile wallet.

Through the exchanges available on the app (Transak and Banxa) it is possible to purchase bitcoins via credit card and receive them directly on one of the on-chain addresses of the AQUA wallet (being on-chain, there will be commissions to pay).

A wallet for no-coiners in the world?

What AQUA does is attempt to integrate all the functionality for a Bitcoin user into one app. This is very important work and perfectly in line with JAN3's goals of bringing Bitcoin adoption around the world.

The application is pleasant to use and relatively simple to understand even for those who don't know anything about Bitcoin. Obviously, the better usability sacrifices some aspects that are often very dear to Bitcoiners, such as the management of Lightning channels or how certain assets are defined. However, this is the first and only example of a wallet so loaded with Bitcoin-related features that can be used by anyone, which is certainly a very positive thing.

Anyone who has visited developing countries and countries with teetering monetary systems knows very well that the demand for stablecoins and the need for a simple user experience go far beyond the puritanical dogma of Bitcoiners who profess from their Western comfort.

When compared to other solutions such as the infamous Chivo wallet and Binance (used everywhere in the world to hold cryptocurrencies), AQUA could be the game changer for people in these countries, who are often not ready to handle Bitcoin's volatility and related complications. to the self-sovereign use of the project launched by Satoshi 15 years ago.

Among the features coming in the future, Samson Mow has already announced satoshi denomination, Lightning addresses, and the ability to view your balance in local currency. Furthermore, the desktop version may soon have integration with hardware wallets.

Origianal Italian version: Arriva AQUA: La Nostra Recensione del Wallet