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Coinbase accepts Lightning!

Since April, the American exchange Coinbase has expanded its services to support the Lightning Network, enabling instant and low-cost Bitcoin transfers.

News from the world of cryptocurrency mining - 2bminer® expert on cryptocurrency mining

 Coinbase users now have the option to choose between faster and cheaper transactions using the Lightning Network or traditional Bitcoin network transfers. This integration supports vision to create a global payment system with one-second speed and one-cent costs, providing affordable access to financial tools for everyday needs.

This change is beneficial for our clients who use the services of this American exchange. The current global payment system is too slow and expensive, which does not meet the needs of people worldwide. For example, U.S. consumers paid an estimated $75 billion in credit card transaction fees in 2022, and many transactions in the U.S. still take days to clear. Blockchain technology enables faster and more secure payments at much lower costs than traditional finance. With the Lightning Network integration on Coinbase, the cost of sending BTC globally has been reduced to up to 20 times less than the average 2% charged on credit card transactions and a fraction of the $30 paid for wire transfers.

Coinbase is committed to building and expanding faster, cheaper, and more secure payments across blockchain networks. By partnering with Lightspark to integrate the Lightning Network, Coinbase demonstrates its support for Bitcoin while focusing on reducing both transaction times and fees. This innovation means not only faster and cheaper transfers for our clients but also increased utility of Bitcoin in everyday life.

This news is excellent for all our clients who use the services of the American exchange Coinbase. Thanks to the Lightning Network integration, they can now have their mining payouts sent directly to their Coinbase account for free. This means faster, more secure, and cheaper transfers, significantly increasing convenience and efficiency in managing their cryptocurrency assets.

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