Specter Solutions has integrated the Liquid Network into its desktop app and DIY hardware wallet solutions.
Liquid on Specter allows users to transact bitcoin, stablecoins, and other digital assets for faster settlement times (under two minutes) with lower fees and greater privacy.
The integration will also enable Liquid multisig support in Blockstream Jade and Specter DIY hardware wallets connected to Specter Desktop, with more exciting features planned for the future.
Why Use Liquid on Specter
Specter's Desktop app is one of the most widely used solutions for running a Bitcoin Core node due to its easy-to-use GUI, singlesig and multisig capabilities, and support for all major hardware wallets. Now, Bitcoiners can leverage Specter Desktop to transact in Liquid Bitcoin (L-BTC) and other assets, such as USDt (Liquid) and L-CAD, or when managing their Liquid node.
Here are a few bullet points why Liquid and Specter should be part of every Bitcoiner’s self-banking practices:
- Confidential Transactions: all transactions are blinded by default on Liquid, keeping sensitive data out of public view to safeguard against cybercriminals, business competitors, and other counterparties.
- Self-custody: once users swap BTC for L-BTC or USDt (Liquid), they can custody it in the various hot and cold wallets they manage on Specter, preventing loss or theft.
- Multisig: Specter supports wallets that require a signature from multiple parties, so funds are not held with a single point of failure, and it supports a wide variety of signature combinations that can hold most Liquid assets, including stablecoins and Raretoshi NFTs (excludes some regulated securities such as the BMN).
- All-in-one management: users must be familiar with the command line when using the native Liquid node software; Specter simplifies this with its easy-to-navigate GUI for managing and operating nodes and wallets.
DIY Solutions for Liquid
Do-it-yourself solutions can not only be a fun weekend project with friends or family but also have a more profound impact on the resiliency of Bitcoin-related technology. For example, with hardware wallets, the greater the diversity of manufacturers, firmware, and types of hardware, the less likely a single security flaw or supply chain vulnerability can affect the entire market.
With Liquid now fully integrated into the Specter DIY Hardware Wallet, which uses readily available parts that users can buy and put together themselves, Bitcoiners have more options than ever to send, receive, and store Liquid assets safely. In addition to singlesig and multisig wallet options, Specter DIY can also be air-gapped using QR codes when communicating with the host device, ensuring your private keys never touch an internet-connected device.
Liquid users can also choose to assemble or buy the Specter Shield, a 3D printed case for Specter DIY, for added durability.
Become Your Own Bank
You can begin your path to self-banking by installing Specter Desktop and then downloading and running a Liquid (Elements) node. The current total chain size is ~17 GB.
Next, you can create a hot wallet for Liquid in Specter Desktop or connect a Liquid compatible hardware wallet, such as Specter DIY or Blockstream Jade.
You will then need to get L-BTC or Liquid stablecoins through a peg-in, swap platform, or exchange if you do not already have some. See our guide for the quickest and easiest ways to do this.
Should you have any questions or need additional directions, be sure to check out both the Specter Telegram or Liquid Telegram channels. We are always willing to help!