Cash App integrates Bitcoin Lightning Network for faster BTC transfers
The layer-two protocol addresses the historic limitations of Bitcoin to improve speeds while reducing transaction fees. Popular mobile payments service Cash App has integrated the Bitcoin Lightning Network as a part of an update, allowing faster and cheaper Bitcoin (BTC) transfers using the layer-two (L2) payments protocol. Cash App is developed and owned by Block (formerly Square), a fintech firm co-founded by former Twitter CEO Jack Dorsey. The announcement of the Bitcoin L2 integration was shared as a notification on the official Cash App application, which made its way to Crypto....
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Cash App mentions that the Lightning Network feature is not available to users located in New York. Mobile payment service Cash App revealed that Lightning Network can now be used to transfer Bitcoin (BTC) through its app. With the new feature, its users can send their BTC to any Lightning or on-chain BTC address.Lightning Network is now available on Cash App. It's the fastest, free way to pay anyone in bitcoin. Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6— Cash App (@CashApp) February 7,....
Cash App users can now send instant bitcoin payments worldwide for free.
The Bitcoin 2022 conference in Miami set the stage for the announcement followed by a panel with athletes Serena Williams, Odell Beckham Jr. and Aaron Rodgers. At the Bitcoin 2022 conference in Miami on Thursday, Cash App announced a new feature for U.S. customers that will allow them to automatically invest a portion of their direct deposit paychecks into Bitcoin (BTC). The mobile payment service run by Jack Dorsey's Block, formerly known as Square, will enable Cash App Visa Cash Card users to opt into this "Paid in Bitcoin" feature at no cost.Cash App’s Bitcoin product lead Miles Suter,....
There is a limit of $999 every seven days for BTC transactions on the Lightning Network. According to a new page added to its support section on Oct. 25, Cash App — a mobile phone payment processing app created by Block Inc. — has added support for transactions via the Bitcoin Lightning Network. The new feature allows Cash App users to send and receive Bitcoin (BTC) on the faster, more efficient layer-2 protocol. Lightning is ideal for small transactions, with near-instant processing times, compared with the minutes to hours required on the Bitcoin blockchain. Cash App had already....
This is huge! Kraken now supports Lightning Network deposits and withdrawals. The suddenly popular second Layer protocol keeps growing and gaining importance. “Finally, traders have an instant and inexpensive way to move bitcoin on and off the platform,” Kraken said in their official announcement. The Lightning Network is much more than that, though. What will happen once Kraken’s extensive clientele tries out Lightning transactions? Will the phenomenal experience change the way they see bitcoin? The second layer solution can process millions of transactions per second and all operations....