CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

WhiteBIT Integrates Lightning Network for Fast and Cheap Bitcoin Transactions

Bitcoin Magazine logo

Published on

Add as a preferred source on Google
WhiteBIT Integrates Lightning Network for Fast and Cheap Bitcoin Transactions

Bitcoin Magazine

WhiteBIT Integrates Lightning Network for Fast and Cheap Bitcoin Transactions

Crypto exchange WhiteBIT announced on Thursday that the platform has integrated the network to help users quickly and efficiently move funds. 

Powered by BTC infrastructure provider Voltage, the Swiss exchange said that bitcoin withdrawals and deposits can be made over the network. A number of major exchanges — including Coinbase and Kraken — have integrated the second-layer solution in recent years. 

⚡ Lightning Transactions are now on WhiteBIT!
Faster $BTC transactions via the Lightning Network — using a QR code or payment details.
Deposit fee: 0.25%
Withdrawal fee: 0.15%
Move $BTC at Lightning speed. Learn more: https://t.co/nt0svdMqg5 pic.twitter.com/WHfmRKT6QI

“WhiteBIT’s mission is to make blockchain technology accessible and widely adopted by delivering practical, user-friendly solutions for digital assets,” WhiteBIT Founder and CEO Volodymyr Nosov said in a statement.  

“Adding Lightning support brings us closer to this goal as we are making Bitcoin faster and more useful for customers who want to top up accounts, send and receive funds, and use Bitcoin across more real-world flows.”

Zug-based WhiteBIT, the 17th biggest exchange by transaction volume, according to CoinGecko data, added that the launch supports a faster Bitcoin rail with use cases for “remittances, exchange funding, merchant-style QR payments, and interoperability with Lightning-enabled wallets and applications.”

Transaction volume on Lightning has surged this year. The reason, broadly, is that exchanges are using the network to move funds because it’s so cheap and fast. 

Launched in 2018, Lightning was previously pushed for smaller transactions like tipping or buying a cup of coffee.


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.