Bitcoin payment platform BitPay now supports Lightning Network

Wed, 06 Apr 2022 19:17:43 +0000

BitPay, a bitcoin & crypto payment platform, today announced support for Lightning Network payments. Now, BitPay merchants and their customers have access to cheaper, more scalable bitcoin payments.

The combination of payments made through the main bitcoin blockchain and through the Lightning Network results in an overall better payment experience that is fast, low cost, and scalable.

Payments can be made through Lightning Network-supported wallets like Strike, Cash App, and others. No additional setup or configuration is required for BitPay merchants to accept Lightning payments.

Benefits of Lightning Network

Lightning Network is a secondary layer of the blockchain that enables scalable transactions with low fees. It was created to improve the cost and scalability of bitcoin transactions.

Merchants and their customers can make “off-chain” transactions without jamming the main blockchain, while still receiving the same security and convenience of blockchain-based payments.

“BitPay’s integration with the Lightning Network offers customers more choice and merchants more ways to be paid leveraging blockchain technology.”
– Tony Gallipi, BitPay’s Co-Founder

Copyright Reserves © 2022. All Rights Reserved.