Frequently asked questions
- Can I buy Bitcoin using Lily?
No, Lily is just a wallet used to store, receive, and send bitcoin. If you wish to purchase bitcoin, create an account on an exchange (we recommend River or Swan)
- What is a multisignature vault?
Multisignature vaults are bitcoin accounts that require approving spending transactions with more than one key or device. This keeps your coins secure in case of key loss or theft.
- How long does it take to configure Lily?
If you have all your hardware devices at hand, you can create a multisignature vault and mobile wallet in under 10 minutes.
- Can I create a 3-of-5 multisig vault?
Yes, you can create any k-of-n vault combination up to 15 devices.
- Can I create an account with a single hardware wallet?
Of course! You can import a single hardware device that you already use. Your transaction history should import from Ledger Live and Trezor Wallet.
- Can I use my full node with Lily?
Yes, you can retrieve transaction and UTXO data from your own instance of Bitcoin Core.