The Swiss crypto exchange has onboarded the Lightning Network to help people withdraw and deposit bitcoin with ease. The Lightning Network continues to find use cases. 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 â including Coinbase and Kraken â have integrated the second-layer solution in recent years. 15%Move $BTC at Lightning speed.
com/WHfmRKT6QI âWhiteBITâs mission is to make blockchain technology accessible and widely adopted by delivering practical, user-friendly solutions for digital assets,â WhiteBIT Founder and CEO Volodymyr Nosov said in a statement. â Transaction volume on Lightning has surged this year. The reason, broadly, is that exchanges are using the network to move funds because itâs so cheap and fast.
Launched in 2018, Lightning was previously pushed for smaller transactions like tipping or buying a cup of coffee. The network also offers more privacy than Bitcoinâs main chain: because Lightning payments are settled off-chain rather than recorded on the public blockchain, individual payments are harder to trace.
