Speed Wallet Review
Lightning-powered payments wallet with stablecoins, sats-back rewards, and a built-in mini app ecosystem.
Why We Recommend Speed Wallet
Speed Wallet combines Bitcoin Lightning with stablecoins in a way that makes everyday payments genuinely practical. The standout feature is USDT-L, a wrapped USDT on Lightning that enables near-instant, low-cost stablecoin transfers—solving the problem of expensive on-chain USDT fees. Platform fees typically run 1–1.5% with no hidden spread, which compares favorably to Cash App's 2.5–4% effective cost for Bitcoin purchases. The app pulls BTC prices from multiple exchanges rather than marking up independently, and fee breakdowns are shown in-app before transactions complete.
The Mini Apps ecosystem sets Speed apart from typical wallets. Instead of downloading separate apps or creating new accounts, users can access games, shopping, crowdfunding (via Geyser Fund), and gift card purchases (via Bitrefill) directly inside the wallet with one tap. The Speed Rewards system pays sats back on spending, creating a genuine incentive loop for regular use. Security includes two-step verification, biometric authentication, and end-to-end encrypted transactions. The company has processed thousands of transactions for hundreds of merchants across 20+ countries, demonstrating real-world traction beyond a simple wallet app.
Best For
Speed Wallet is ideal for users who want Lightning-fast payments without the complexity of self-custody. If you regularly send money to friends, make cross-border remittances, or want to spend Bitcoin and stablecoins on gift cards and everyday purchases, the integrated experience eliminates friction. The sats-back rewards make it particularly appealing for frequent spenders who want passive Bitcoin accumulation on routine transactions.
The stablecoin integration makes this compelling for users in regions with volatile local currencies who want dollar-denominated holdings with easy conversion to Bitcoin. Merchants and creators benefit from payment processing tools and direct integrations with platforms like Geyser Fund for crowdfunding. The Chrome extension and multi-platform availability (iOS, Android, web) means you can access funds from anywhere.
Power users who want a super-app experience rather than juggling multiple wallets will appreciate having payments, swaps, gift cards, games, and rewards in one interface. However, this isn't designed for traders seeking a broad multi-chain portfolio or users who prioritize self-custody above all else.
Services & Features
- Lightning & on-chain BTC transfers
- USDT/USDC stablecoin support
- USDT-L Lightning stablecoins
- Tokenized gold (XAUt)
- In-app Bitcoin purchases
- Lightning address creation
- Built-in Mini Apps store
- Sats-back rewards program
- Gift card purchases
- BTC-stablecoin swaps
Considerations
Speed is fully custodial, meaning you don't control private keys and must trust the company with your funds. KYC is required in certain countries, and geographic availability depends on local regulations. The asset selection focuses on BTC, select stablecoins, and gold—not a broad crypto portfolio.
