THELOGICALINDIAN - One of the better Bitcoin acquittal processors now supports Lightning payments
BitPay has added abutment for the Lightning Network, a Layer 2 ascent band-aid for the Bitcoin blockchain.
BitPay Adds Lightning Support
BitPay co-founder Tony Gallippi appear the affiliation of Lightning Network at this week’s Bitcoin 2022 appointment in Miami.
According to a press release from the company, merchants that use BitPay can now accept payments from Lightning-enabled wallets such as Cash App and Strike, additional over 100 added wallets.
Though the Lightning Network supports both Bitcoin and Litecoin, BitPay says that it will alone abutment Bitcoin at this time.
Merchants will not charge to booty any added accomplish to configure abutment for the Lightning Network. Customers will see the advantage to pay with a Lightning-enabled wallet back they accomplish a purchase.
The Lightning Network settles Bitcoin affairs off-chain, acceptation that it reduces fees and improves transaction times. BitPay acclaimed that fees on the Lightning Network are about beneath one cent (whereas Bitcoin’s boilerplate transaction fee is currently $1.72).
PacSun, a California accouterment and cossack company, will be one of the aboriginal companies to abutment BitPay Lightning payments.
Other Platforms Support Lightning
BitPay claims to be the better crypto acquittal processor. Reports advance that it handles $1 billion in affairs per year.
This makes it one of the highest-volume platforms to accommodate Lightning to date, admitting assorted added acquittal processors accept chip Lightning Network in antecedent months and years.
Coingate was one of the aboriginal acquittal processors to add Lightning Network in 2018. Swiss processor Bitcoin Suisse additionally chip the technology in 2021, while Jack Dorsey’s Cash App appear the accession of Lightning Network in January 2022.
Other companies accept additionally added abutment for Lightning Network, including Twitter, Substack, Chainalysis, Bitfinex, and Kraken.
Today’s account comes aloof one day afterwards Lightning Labs appear a new agreement alleged Taro to accompany stablecoins to Lightning.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC, ETH, and added cryptocurrencies.
