Coinbase, a major crypto exchange, has added support for the Bitcoin Lightning Network, making Bitcoin transfers faster and cheaper.
Instant and Affordable Transactions
Before this integration, Bitcoin transfers on Coinbase took a long time (10 minutes to 2 hours) and were expensive. However, the Lightning Network, which operates on top of the Bitcoin blockchain, allows for off-chain transactions that are much faster and cost less.
Growing Demand for Lightning Network
The Lightning Network has gained popularity since its launch in 2017, and Coinbase customers have been requesting its integration. With this addition, Coinbase users can now send, receive, and make Bitcoin payments instantly through their Coinbase accounts.
Regional Limitations
It’s important to note that Coinbase’s Lightning Network integration may not be available in all regions. Additionally, the cost savings may not apply to all transfers.
Coinbase’s Commitment to Crypto
Coinbase believes that the Lightning Network will enhance the utility of Bitcoin and make it more accessible to everyone, especially those without traditional banking access. The company is excited to continue revolutionizing the financial system with crypto.
Market Update
Despite recent fluctuations, Bitcoin has still seen a significant increase in value over the past year.
