Introduction
Let's set up a Phoenixd node and attach it to your Stacker News (SN) account to serve as your wallet.
Phoenixd nodes are specialized Lightning nodes that offer liquidity and channel management out-of-the-box. If you don't want to deal with setting up channels or ensuring you have enough liquidity to send and receive payments then this could be a good choice for you.
This guide will use a Nodana hosted Phoenixd node but you can host your own. Here's a guide on Stacker News if you prefer to host your own: https://stacker.news/items/695912
Three reasons to use Nodana for your Phoenixd hosting:
Simple one-click deployment
Pre-configured rate limiter to help protect your node
Nodana url to access node
Deploy A Phoenixd Node
To create a Phoenixd node on Nodana go to this page. You will see a couple of options that you can set before deployment:
You don't need to set the webhook value but you might want to change the auto_liquidity option which has a default value of "2m". Auto liquidity is explained here but the tldr is that it influences how often on-chain operations take place and the fees that you pay for the liquidity. Let's stick to the default value
Click "Deploy" and wait a couple of seconds. Then you will be presented with your node credentials which you need to keep safe. They include your passwords and seed phrase:
That's all it takes to deploy a Phoenixd node on Nodana! Take a note of the connectionUrl, the password and the restrictedPassword as these will be required in the next step.
Attach Wallet on Stacker News
Go to https://stacker.news/settings/wallets and choose the option to attach a Phoenixd wallet. Then enter the credentials provided on Nodana:
Enter the connectionUrl in the url input box, the password value in the primary password input box and the restrictedPassword in the the secondary password input box. Choose whatever values you like for "desired balance" section and then click attach.
That's it. Your wallet should now be connected and a green dot to show the connection is active:
If you have any issues or questions then feel free to get in touch any time.