BitPay, a bitcoin & crypto payment platform, today revealed assistance for Lightning Network payments. Now, BitPay merchants and their clients have access to less expensive, more scalable bitcoin payments.
The mix of payments made through the primary bitcoin blockchain and through the Lightning Network leads to a total much better payment experience that is quick, low expense, and scalable.
Payments can be made through Lightning Network-supported wallets like Strike, Cash App, and others. No extra setup or setup is needed for BitPay merchants to accept Lightning payments.
Benefits of Lightning Network
Lightning Network is a secondary layer of the blockchain that makes it possible for scalable deals with low costs. It was produced to enhance the expense and scalability of bitcoin deals.
Merchants and their clients can make “off-chain” deals without jamming the primary blockchain, while still getting the very same security and benefit of blockchain-based payments.
- Fast deals – Performing smaller sized deals on the Lightning Network minimizes blockage on the primary blockchain, accelerating deals throughout the board.
- Low deal costs – Fees on the Lightning Network are simply a portion of a cent. For merchants, this implies more clients investing crypto. For clients, this implies that paying with crypto is as effective as any other payment approach. Additionally, micropayments end up being more cost-effective.
- Scalability – Lightning Network can process numerous thousands more deals per 2nd than the primary Bitcoin blockchain.
“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