TL;DR
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Users can now deposit and withdraw BTC to/from Binance, fast n’ cheap, using the Bitcoin Lightning Network.
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For any crypto network to be usable at scale (with billions of concurrent users worldwide), they need layer 2’s.
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Layer 1’s are like bank accounts (slow transactions, high fees, but highly secure). Layer 2’s are like Venmo (fast transactions, low fees, but with a little less security).
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The Lightning Network helps to solve this problem with Bitcoin – it just needs to be adopted.
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…and what better way to speed up adoption than to have the worlds largest crypto exchange integrate it?
Full Story
Remember what it felt like to go from bank transfers (eeew), to Venmo (niiice)?
So frictionless. So smooth. So speedy.
Bitcoin users seem to get the same kick from using the Lighting Network (a layer 2 built on top of Bitcoin).
What does that mean exactly?
Layer 1’s are like bank accounts (slow transactions, high fees, but highly secure).
Layer 2’s are like Venmo (fast transactions, low fees, but with a little less security).
For any crypto network to be usable at scale (with billions of concurrent users worldwide), they need layer 2’s. Without them, things get stupidly expensive and painfully slow, real fast.
The Lightning Network helps to solve this problem with Bitcoin – it just needs to be adopted.
…and what better way to speed up adoption than to have the worlds largest crypto exchange integrate it?
Users can now deposit and withdraw BTC to/from Binance, fast n’ cheap, using the Bitcoin Lightning Network.
We love to see it!
