Bitcoin Lightning Network Payments Hit Bitfinex in Industry First

Published on by Cointele | Published on

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Cryptocurrency exchange Bitfinex has revealed the first of two major upgrades it says will completely change user payments and spending habits.

In a tweet on Dec. 2, the platform's CTO, Paolo Ardoino, confirmed that as of Tuesday, it would support Bitcoin transactions on the Lightning Network.

The move is a first for a major cryptocurrency exchange, Bitfinex announcing it via its updates mailing list.

Users will benefit from instant transactions and will pay almost zero fees to send funds via Lightning.

The reveal appears to correspond to the first of two mystery "Integrations" Bitfinex announced on its website last month.

The second improvement remains unknown but appears to focus on spending, rather than exchanging cryptocurrency.

"When this feature is live, the way you spend crypto will change forever," Bitfinex promises.

Lightning has been functional on the Bitcoin mainnet since the start of 2018.

Designed to improve Bitcoin network capacity, the tool has received high-profile backing from the likes of Twitter CEO, Jack Dorsey, and others.

Lightning company Bitrefill confirmed it would assist Bitfinex with deposits and withdrawals.

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