Bitkit Beta Update: Tags, Instant Payments, and Transaction Details
There's a new Bitkit update available! This release fixes multiple bugs and improves the app’s performance. Here are some noteworthy changes:
Managing Transaction Tags
You can now manage your tags so that your transactions are always properly categorized.
Setting up Instant Payments
Recently, Bitcoin transaction fees have gone up, raising the one-time fee for setting up instant payments. As a result, people started seeing error messages when trying to initiate a Lightning connection without enough funds in their savings balance.
These error messages were full of technical terms, so we’ve made them easier to understand. Now, you’ll know when you need more funds to set up a Lightning connection successfully.
We’ve redesigned the screens showing the process of setting up instant payments.
When you set up instant payments, a percentage of the funds you allocate to your spending balance is reserved. Reserving this balance ensures the security of the Lightning connection that enables you to pay instantly.
You can find your Lightning connections’ reserve balances on Settings → Advanced. To make it more visible, now it’s also indicated under your spending balance beside a purple lock icon.
Detailing the Transactions
The fee paid by the sender on incoming payments was visible in the transaction details. However, it could be misinterpreted as being charged from the receiver or deducted from the payment, so we removed it. You can still view it by navigating to Explore → Open Block Explorer.
The longer a Bitcoin transaction is confirmed, the less replaceable and more final it becomes. That’s what makes Bitcoin secure: you can sleep knowing that a payment confirmed hours ago will never be charged back. However, unconfirmed Bitcoin transactions aren’t final and can still be replaced. As of this update, you’ll see a message when an unconfirmed payment sent to you gets replaced.
Due to the inner workings of the Bitcoin network, a payment confirmed less than 30 minutes ago can sometimes get unconfirmed. This doesn’t happen frequently and is unlikely to affect you, but if it ever does, we’ll let you know. Still, don’t worry if you ever see this message: you’ll simply need to wait for your transaction to confirm again.
We’ll refine these messages in the next updates so that you’re well covered in all cases, no matter how unusual.
What’s next?
Bitkit is fully open-source and built up in the open, so anyone can audit and contribute. You can dive deep into the details and other updates on GitHub.
If you haven’t tested Bitkit yet, download it for iOS or Android!
There are still a lot of areas to improve and bugs to iron out in the upcoming weeks, so stay tuned for our next updates.
If you have any feedback or feature requests, join our Discord and Telegram communities and let our team know!
