Kucoin enables lighting network deposits and withdrawals

[bitmover]

Yesterday Kucoin added lighting network support

21/05/2024, 09:44:30

Dear KuCoin Users,

KuCoin has completed the integration of Bitcoin (BTC) on the Lightning Network. Deposits and withdrawals for Bitcoin (BTC) are now open on the Lightning Network.

https://www.kucoin.com/announcement/en-kucoin-completes-integration-of-bitcoin-btc-on-lightning-network-opens-deposits-and-withdrawals

Do you use lighting network? It is amazing to move coins between exchanges if you never used it!

[Agbe]

Do you use lighting network? It is amazing to move coins between exchanges if you never used it!

I have not used the lighting network before and there was a time I wanted to used it but the process was not easy as the normal Electrum so I left it but since exchange has listed it to be used I think it is high time I should learn how to use it. Because according to people that have used it, the transaction fee is very cheap.

[electronicash]

took them so long to adopt LN, its been done by the exchanges long time ago. even the oldest exchange i knew have done it also for they know users will eventually be using the LN for its low fees.

Do you use lighting network? It is amazing to move coins between exchanges if you never used it!

can it be used for arbitrage now that its cheaper to move from one exchange that also user LN? i always wanted to do this but not sure if i have the courage.

[dkbit98]

Do you use lighting network? It is amazing to move coins between exchanges if you never used it!

I don't use it so often and I was never a big fan of Lightning Network.
Only use case for me is in case of high transaction fees on main chain, and for sending very small transaction in sats.
There is also an issue of centralization and censorship with Lightning, like we saw with Phoenix wallet recently.

[bitmover]

Do you use lighting network? It is amazing to move coins between exchanges if you never used it!

I don't use it so often and I was never a big fan of Lightning Network.
Only use case for me is in case of high transaction fees on main chain, and for sending very small transaction in sats.
There is also an issue of centralization and censorship with Lightning, like we saw with Phoenix wallet recently.

I am not a big fan of lightning either
User interface is terrible.

I saw many people losing coins with it, and I am always afraid of losing as well... I hold very little btc in lightning

[yhiaali3]

Thank you @bitmover for sharing the news

I have an account in Kucoin, but I rarely use the Lightning Network. I only used it a few times in my wallet as an experiment, but I don't like opening the channel and holding Bitcoin inside the channel until it closes, etc. But I expect that its use by cex is different and easier.

But in any case, this development will remain very good and will be a useful additional option for many users when network fees are insanely high.

[bitmover]

But in any case, this development will remain very good and will be a useful additional option for many users when network fees are insanely high.

I am happy to see the fees are much lower now, and you can get a confirmation with less than 10 sat v/B!

Anyway, always good to have options for lower fees.

[dkbit98]

I saw many people losing coins with it, and I am always afraid of losing as well... I hold very little btc in lightning

I don't hold anything in Lightning, but if I need to pay something or receive LN payment than I can always use Aqua wallet, and later move L-BTC to mainnet bitcoin.
After so many years of working on Lightning we are not getting any closer to wide adoption or more decentralization, things are going in different direction.