Binance Implements Lightning Network
Binance now supports Lightning Network for faster and cheaper Bitcoin transactions. Users can select "LIGHTNING" when withdrawing or depositing Bitcoin
Binance, A Cryptocurrency exchange has now added the Bitcoin Lightning Network for BTC withdrawals and deposits.
This layer-2 scaling solution is available for Binance users, providing faster and more cost-effective Bitcoin transactions. Users can now choose the "LIGHTNING" option when withdrawing or depositing Bitcoin, along with other available options.
Binance had given a hint at this Integration in May because of high transaction fees on the Bitcoin network. The Lightning Network has been adopted by several other exchanges, including Bitfinex, River Financial, OKX, Kraken, and CoinCorner.
Coinbase CEO Brian Armstrong has also noted that he is interested in integrating the Lightning Network on Coinbase, but he didn't say anything about when he will do this. The Lightning Network facilitates faster and cheaper transactions by enabling off-chain transaction channels.
