WhiteBIT Integrates Lightning Network for Fast and Cheap Bitcoin Transactions
By Mathew Di Salvo
AI summary of the source article
Swiss cryptocurrency exchange WhiteBIT has integrated the Bitcoin Lightning Network to provide users with faster and cheaper transactions. Powered by BTC infrastructure provider Voltage, the integration allows customers to process deposits with a 0.25% fee and withdrawals with a 0.15% fee using QR codes or payment details. WhiteBIT, identified via CoinGecko data as the 17th largest exchange by transaction volume, indicated that the rollout supports multiple use cases, including remittances, exchange funding, merchant QR payments, and wallet interoperability. The integration follows similar second-layer adoptions by exchanges like Coinbase and Kraken.
Why it matters
The integration offers users lower fees and faster settlement times for Bitcoin transfers, expanding the network's utility for remittances, exchange funding, and merchant payments.
Key facts
- WhiteBIT integrated Bitcoin's Lightning Network using infrastructure from provider Voltage.
- Lightning transactions on WhiteBIT carry a 0.25% deposit fee and a 0.15% withdrawal fee.
- Zug-based WhiteBIT is ranked as the 17th largest crypto exchange by transaction volume, according to CoinGecko.